NEW YORK— A unit of Japanese drugmaker Astellas Pharma will pay the U.S. government $7.3 million to resolve claims it illegally marketed its antifungal drug Mycamine for children before that use was approved. Another $3.1 million will go to state Medicaid programs. Medicaid did not cover Mycamine for children because the FDA had not yet approved that use.» Read More
A warning issued to MedImmune over manufacturing issues at a United Kingdom plant shouldn't significantly disrupt company production of its nasal spray flu vaccine, federal health officials said.
Doctors in the United States have shunned GlaxoSmithKline's diabetes drug Avandia since a study was published last week linking the drug to heart-attack risk, according to daily prescription data.
If you happened to be watching CNBC's "Closing Bell" yesterday afternoon, you may have seen what we call a "promo" (short for a promotion of an upcoming story or guest) for a "First on CNBC" interview with GlaxoSmithKline CEO Jean-Pierre (JP) Garnier on today's "Closing Bell" at 3:15 ET.Since the Avandia news broke on Monday, I'd been trying to get an interview with him. He talked to The Wall Street Journal mid-week, but had yet to do a TV interview. Then, yesterday afternoon I got a call from his British PR person telling me that Garnier would like to come on CNBC on Friday. She said he was flying to the States from Europe last night and that we could do a live, one-on-one interview with him at or near the company's U.S. headquarters in Pennsylvania.
Cramer thinks this index will climb another thousand points by the end of the year. Owning the stocks that should get it there could do wonders for your portfolio.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.
John Tepichin says he's all in on his one stock--Biomarin--and "going for the fences," as the Million Dollar Portfolio Challenge is coming to a close. The contest ends Friday at the closing bell. John's stock was down some 2 percent today, but he says he has some "strong" ideas for Friday. He's currently in 15th place out of 20 finalists--so John better have some pretty good "fence going" ideas.
Big pharma analysts keep close tabs on prescription trends. Many of them issue weekly reports to clients about what's up, what's down, what's holding steady. Investors use the data as a leading indicator for what quarterly sales and profits might look like. So, check out what A.G. Edwards' Joe Tooley is writing in his most recent "Weekly Prescription Trends" report.Tooley titles it, "Lipitor Continues to Decline, Can Simvastatin (the generic version of Zocor) Surpass It?"
So, for the first time we are getting a clue about how much GlaxoSmithKline will charge for the over-the-counter diet pill Alli, at least at drugstore.com.According to the pricing on the site, where you can actually pre-order your Alli (it won't be available until next month), it'll cost about 83 cents per pill (60 capsules for $49.99). You're supposed to take about three a day, one at every mealtime. But if you buy in bulk (120 pills), the price goes down to about 62 cents apiece. Drugstore.com is also offering free shipping.
Earnings updates and contract wins were some of the catalysts behind the most actively traded stocks on Thursday.
Good morning everyone. Today--Thursday--is a big day for our contestants. The trades they execute prior to 4pm will be the last trades that will impact their total portfolio value based on their performance on Friday. And, the race at the top gets tighter each day. Only $22K separates the top three positions. Nancy Beaumont holds first place for the 3rd straight day on the 9.75% gain of The Men's Wearhouse. Nancy looks like she may maintain her first position with Gymboree up almost 10% in extended hours.
Several of our CNBC Million Dollar Portfolio Challenge finalists are "betting" on gaming stocks for a big finish--so they can win a cool $1,000,000. Gamestop is the stock of choice with earnings coming out. Also, The Men's Wearhouse is "wearing" well with the top two contestants. Here's a look at the top standings and current portfolio values. The contest ends this Friday, so the clock is ticking!! (video below with Margaret Brennan wrapping it all up for you)
The CEO of GlaxoSmithKline and a prominent British medical journal are criticizing a recent study that said Glaxo's widely prescribed diabetes drug Avandia is linked to a greater risk of heart attack and possibly death.
In the middle of the Avandia blowup, GlaxoSmithKline this week is launching the new over-the-counter diet pill "Alli." The company says it's spending 150 million bucks on the first-year marketing of the formerly prescription-only Xenical from Roche.A big chunk of that is going toward a multi-pronged educational campaign to convince dieters they have to change their eating habits and exercise if they want to get the maximum benefit from Alli. That's crucial with this drug because the more fat you eat, the worse the gastrointestinal side effects. Clue: Glaxo is telling Alli users to wear dark pants and bring an extra pair to work. The company has gone so far as to set up an exhibit in New York City this week where people can get more information about Alli.
Good morning all. Here's what's happening on our finals leaderboard with three days of trading left. Nancy Beaumont--pictured left--remains in first place--even with losing almost $30K on Pacific Sunwear Tuesday. And Serge Amelyan moves back into 2nd on an almost $5K gain on Vanda Pharma, and helped by Steven Lee's $76K loss on Neurochem.
Women looking for a simple way to avoid their menstrual period could soon have access to the first birth control pill designed to let women suppress monthly bleeding indefinitely.
The company built by the world's richest man takes on the world's largest democracy, and it's a case of cyber culture clash. India-based itVAR News (an IT website) says Microsoft is billing computer retailers in the town of Gujarat thousands of dollars, accusing them of installing pirated Windows software.The retailers have responded with a strike, a boycott and general outrage, though no one appears to be denying the accusations. One Indian retailer put it this way, "Since we are not charging anything extra for installing the software, it means that we are actually not trading in pirated software. For us, this is just a 'sewa' (selfless act) that we are offering to our customers. Besides, the pricing of their operating systems is way too high for Indian markets."
So, let's start with GlaxoSmithKline's Avandia. The stock is rebounding a little bit today after the pummeling it took yesterday. Once again, the New England Journal of Medicine study saw an "embargo break" by another media outlet. That means the news hit in the middle of the trading day yesterday, catching just about everyone by surprise. The embargo was supposed to have lifted at 5 p.m. ET yesterday, which would have given all of the stakeholders -- chiefly Glaxo -- the ability to issue their prepared press releases at the same time.
So, who's leading the pack as the CNBC Million Dollar Portfolio Challenge heads into its final days (only four left)? Well, we have the up to date standings along with a video clip with the ins and outs. We also have the leaders of the Second Chance Showdown. This is for the contestants who didn't make it into the finals--but can win a Sony Home Theatre Entertainment system. The winner in each category will have to come up with the portfolio with the largest value.
Asset sales and earnings reports catalyzed the most actively traded stocks on Tuesday.
Good morning. Chinese gaming stocks are in the spotlight Monday as The9 propelled Nancy Beaumont to the top of the pack on its 10.31% gain. The9 was up on the news that Electronic Arts agreed to buy a $167M stake in the company, and also licensed a soccer game to The9. Steven Lee managed to hold onto second even though he was all in cash after Friday's trading. He has now gone all-in on Neurochem.
GlaxoSmithKline's widely prescribed diabetes drug Avandia is linked to a greater risk of heart attack and possibly death, a new scientific analysis revealed, and the U.S. government issued a safety alert.