Sept 18- Rite Aid Corp, the third-largest U.S. drugstore chain, cut its full-year profit forecast for the second time, citing lower margins in its pharmacy business, sending its shares down 11 percent in premarket trading.» Read More
Early today a press release and headlines were crossing the wires about Dendreon announcing positive test results on its controversial prostate cancer drug, Provenge, at an oncology conference in San Francisco.
This morning we did back-to-back interviews on "Squawk Box" with the author of the New York Magazine article about his experience on the smoking cessation drug Chantix and a Pfizer exec to respond to it. You can watch the segment in the video clip.
Not long after I submitted my last post I got word that the House Energy and Commerce Committee sent a letter today to the four Congressmen who had requested a hearing into the Dendreon/Provenge saga. And the answer is "no." The stock, which had been rallying on heavy volume today, sank when we broke the news on "Closing Bell."
There was a mini-rally and spike in volume in shares of good ol' Dendreon this morning and early afternoon. The run-up occured ahead of CEO Dr. Mitchell Gold's presentation at the BIO CEO conference in New York City at 1:15 ET.
In a CNBC and Mad Money exclusive, Cramer sat down with Schering-Plough CEO Fred Hassan for his first interview since the controversy over the effectiveness of the cholesterol drug Vytorin. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
After the closing bell yesterday Genentech popped out a stock-moving press release. The world's most highly-valued biotech announced that its drug Avastin when used in combo with Sanofi-Aventis' chemo drug, Taxotere, helped women with a certain type of aggressive, advanced breast cancer live longer without the disease getting worse.
Digital camera and medical equipment maker Fujifilm Holdings said on Wednesday it will spend up to 155 billion yen ($1.45 billion) to take control of drug maker Toyama Chemical to grow in the pharmaceuticals market.
The current issue (February 18, 2008) of New York Magazine has a story that it teases on the cover above the masthead, "No Smoking Wonder Drug." Below it in drug-label fine print the sub-head is: "Makes quitter talk to potted plants."
European stocks closed sharply higher Tuesday, after U.S. billionaire investor Warren Buffett inspired a late rally by offering to take on $800 billion worth of debt insured by top bond insurers.
Schering-Plough is bringing up the rear of big pharma earnings season this morning--it reported later than normal because it apparently took longer to do all the accounting for a big acquisition--with a beat on the top and bottom line. But investors, as is usually the case, are more concerned about guidance.
Schering-Plough Tuesday reported a quarterly loss as special charges from its acquisition of Organon Biosciences late last year offset sharply higher sales, but results beat Wall Street expectations.
Anyone who has followed the Dendreon/Provenge saga knows there are a lot of passionate people attached to it. And apparently one of them may go by the name Mike Huckman. Last night it was brought to my attention that my name appears (or appeared) on line 277 of this online petition.
Shares of Allergan are taking a big hit today after the Food and Drug Administration announced it's putting out an "Early Communication" (Translation: We're reviewing some reports of adverse events, but in the meantime, doctors and patients should be vigilant) regarding potentially fatal side effects of the popular muscle relaxant Botox.
In their stump speeches and debates, Hillary Clinton and Barack Obama often talk about pushing back against the Washington influence of the powerful pharmaceutical lobby and keeping drug company profits in check.
GlaxoSmithKline forecast lower 2008 earnings due to falling sales of diabetes drug Avandia and increased generic competition, sending shares in Europe's biggest drugmaker down 7.6 percent on Thursday.
Shares of GlaxoSmithKline this morning are getting hammered because the company announced it expects earnings per share to fall by a mid-single digit percentage this year. Analysts thought they'd grow by three percent.
Reaction to part of a big government-sponsored diabetes drug study being halted over fatalities is pouring in from several corners. The American Diabetes Association put out a press release saying it "strongly encourages people with diabetes not to alter their course of treatment without first consulting with their health care team...
I'm blogging a little later than usual because I got sidetracked by the breaking news on the government stopping part of a big diabetes drug study over safety concerns--more people died in a group that was being intensively treated to get their blood sugar levels below current recommendations.
Heart patients with drug-coated stents who stop taking the popular bloodthinner Plavix are quickly put at a higher risk of death, according to a new study published in the "Journal of the American Medical Association."
Yes, it was a big down day for equities, but I wanted to call attention to the fact that according to one of our resident stock gurus, Robert Hum, the Amex Pharmaceutical Index (you can see the 15 stocks that make up the so-called DRG here) closed at a two-year low today.