But drugmakers have argued this could suck supplies out of Greece if Athens leaves the euro and prices in euro terms fall sharply. The European Association of Euro Pharmaceutical Companies, representing firms involved in this so-called parallel trade, said drugmakers were wrong to say supplies could be in jeopardy if Europe did not take such emergency...» Read More
Investors now think that a biotech company with less than one-third the revenue of Amgen is worth more than the former sector king. Elizabeth Trotta at TheStreet.com took note of this late last week but I thought it was worth pointing out.
These days there's been a lot of media attention paid to the Merck and Schering-Plough partnership on the cholesterol-fighting drugs Zetia and Vytorin. But there's another less-known and little-talked-about respiratory MRK/SGP joint venture.
The American College of Cardiology held a telephone press briefing this afternoon to help get reporters up to speed on potential headline-grabbing studies that researchers will present at the annual ACC meeting in Chicago at the end of this month.
Merck this morning announced that it has filed for Food and Drug Administration approval of its blockbuster cervical cancer vaccine, Gardasil, for women 27-45 years old. Right now it's approved for females 9-26.
Cramer makes the call on viewers' favorite stocks.
Shares of Amgen closed just above 43 bucks yesterday. That's more than a five-year low. And they're falling even lower in early trading this morning. Today the company is making its first investor presentation since last week's FDA advisory committee vote to restrict usage of Amgen's anemia drugs on cancer patients.
This St. Patrick's Day morning several analysts are out with their official takes on Genentech's investor meeting last Friday and of the half dozen or so I've seen so far, I'd say the reaction is definitely mixed. I also wanted to throw in a few more notable quotables from CEO Art Levinson at the Friday presentation.
This could be the sector to own by next fall's presidential election.
So guess which analyst happened to be selected first to query Genentech management at the start of the Q and A portion of the biotech company's analyst meeting? Yep. Mark Schoenebaum from Bear Stearns.
I am at the Genentech analyst meeting at the Mandarin Oriental Hotel next to the new Time Warner Center in Columbus Circle in Manhattan. The room is packed with an estimated 300-plus analysts, investors, reporters and Genentech execs.
Shares in British drugmaker Shire leapt as much as 10 percent on Friday, as traders eportedtalk of bid interest from U.S. rival Pfizer.
Amgen, the world's biggest biotech company in terms of sales (Genentech dwarfs Amgen in market cap: $86 billion vs. $51 billion) and Dow component Johnson & Johnson avoided a worst-case scenario this afternoon.
Last year Genentech shares traded as high as nearly 88 dollars, but ended 2007 around 67 bucks. But according to the company's new proxy statement all of Genentech's top-tier executives saw their total compensation go up.
Ahead of the big FDA Advisory Committee meeting tomorrow, Amgen held a quick conference call with some reporters this afternoon. The outside panel of experts will be deciding whether to recommend putting more restrictions on the use of the blockbuster drugs used to fight anemia in cancer patients getting chemo. For Johnson and Johnson and especially Amgen, the stakes are high.
Everyone's favorite small-cap biotech put out a press release this morning, announcing that the Food and Drug Administration has agreed to change the Special Protocol Assessment (SPA) for Dendreon's Provenge.
A new study concludes giving everyone who's admitted to a hospital a quick test for the so-called "Superbug" doesn't significantly cut the number of infections and isn't cost-effective.
Shares of biotech giant Amgen fell as low as $43.14 (a new bottom) this morning after the briefing documents for Thursday's Food and Drug Administration Advisory Committee meeting were posted on the agency's website.
Billionaire Alfred Mann must not have liked watching stock in the company bearing his name fall to another new low today in the wake of Eli Lilly giving up on inhaled insulin.
This is a big week for the world's top-two biotechnology companies and their investors. Amgen goes before an FDA Advisory Committee Thursday about the side effects of its bread-and-butter franchise Aranesp.
First, Pfizer gave up on its inhaled insulin Exubera, then NovoNordisk threw in the towel and now it looks like Lilly is going to bow out. Alkermes, which is working on a palm-sized product called, "AIR Insulin," put out a press release today saying it expects its partner on the device, Lilly, to decide next week that it will exit the deal. ALKS shares hit a new low on the news.