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  • Amgen: Stock "Ailing" From Many Sides It Seems Friday, 7 Dec 2007 | 2:24 PM ET

    Earlier this week I blogged about Amgen's negative test results for its anemia drug Aranesp in breast cancer. The studies showed the drug may have caused tumors to grow and death. This morning it almost seems like there's a delayed market reaction.

  • Glaxo says Viehbacher Joins Board, Stout to Leave Friday, 7 Dec 2007 | 10:36 AM ET

    One of two top executives who lost out two months ago in the race to become chief executive of GlaxoSmithKline Plc is joining the board, while the other is to leave, Europe's biggest drugmaker said on Friday.

  • Lilly 2008 Profit Forecast Eclipses Expectations Thursday, 6 Dec 2007 | 2:08 PM ET
    Eli Lilly

    Eli Lilly Thursday forecast 2008 earnings above Wall Street expectations and said it remained on track to seek U.S. approval this month for prasugrel, a blood clot preventer, which posted mixed results in a recent large clinical trial.

  • My inbox is flooded this morning with research notes from analysts in the wake of yesterday's FDA panel meeting on Genentech's Avastin for breast cancer. The advisory committee voted 5-4 against recommending approval of the drug for that use. The FDA usually follows the advice of its outside panels of experts, but in close votes like this one it's not unheard of for the agency to go the other way.

  • FDA Panel Rejects Genentech Drug for Breast Cancer Thursday, 6 Dec 2007 | 3:35 AM ET

    A panel of government advisers said that Genentech drug Avastin should not be approved for expanded use in breast-cancer patients, sending the company's shares sharply lower.

  • FDA Panel Rejects Genentech Drug for Breast Cancer Wednesday, 5 Dec 2007 | 3:43 PM ET

    A panel of government advisers said that Genentech drug Avastin should not be approved for expanded use in breast-cancer patients, sending the company's shares sharply lower.

  • Bristol-Myers to Cut $1.5 Billion in Costs by 2010 Wednesday, 5 Dec 2007 | 2:52 PM ET

    Bristol-Myers Squibb, as part of an expected major restructuring, said by 2010 it would cut its workforce by 10 percent and slash the number of its manufacturing plants by more than half, to generate an additional $1.5 billion in savings.

  • BMY CEO Cornelius: You Should Have Gotten A Flu Shot Wednesday, 5 Dec 2007 | 2:36 PM ET
    CEO Jim Cornelius

    Regular blog readers are well aware of my relentless pursuit of big CEO interviews. So, I wanted to give the backstory to a surprising CEO cancellation of a previously scheduled and confirmed interview today by Bristol-Myers Squibb. A few weeks ago, my producer Ruth and I got tentative confirmation from a Bristol spokesman that the relatively new CEO Jim Cornelius would finally do his first TV interview since taking over the company last year.

  • Big Pharma Events: The Pre-Holiday Crunch Wednesday, 5 Dec 2007 | 10:50 AM ET

    I don't know how they all got clustered together--maybe so many of the major pharmaceutical companies meet with Wall Street in early December so everyone can then take off on long vacations--but my hands are full with three big pharma events in as many days. Yesterday, Merck put out guidance.

  • Merck Gives Earnings Outlook Below Forecasts Tuesday, 4 Dec 2007 | 1:02 PM ET

    Merck gave profit forecasts for 2007 and 2008 that were mostly below expectations.

  • Merck Misses "Mark" With Investors Tuesday, 4 Dec 2007 | 11:04 AM ET

    Shares of Dow component Merck are trading lower in the very early going this morning after the country's second-biggest drug company didn't blow people away with its 2008 financial guidance. Merck puts out its new forecast a week ahead of its annual analyst meeting, so it can focus more on its drug development pipeline at the event.

  • Genentech Drug Toxicity Under FDA's Microscope Monday, 3 Dec 2007 | 11:37 AM ET
    Genetech

    The benefits of Genentech's cancer drug Avastin in breast cancer should be weighed against some toxic side effects, including the potential for death, U.S. regulatory staffers said in documents released Monday.

  • Genentech, Amgen And The Fight Against Breast Cancer Monday, 3 Dec 2007 | 10:53 AM ET

    Although the stock movement this morning is not reflecting it, the latest developments in Amgen and Genentech's efforts to come up with new treatments for breast cancer are emblematic of the opposite direction these California-based biotech behemoths and rivals are headed.

  • Addex Enters License Deal with Merck, Shares Jump Monday, 3 Dec 2007 | 9:54 AM ET

    Shares of Addex Pharmaceuticals SA jumped Monday after the Swiss company said it entered a license agreement with U.S.-based Merck to develop a new class of orally available drugs to treat Parkinson's disease and perhaps other conditions.

  • The popular diabetes drug marketed as Avandia may increase bone thinning, a discovery that could help explain why diabetics can have an increased risk of fractures.

  • Johnson & Johnson's $4 Billion "Oops, Never Mind!" Friday, 30 Nov 2007 | 1:58 PM ET

    Late yesterday one of the midnight-oil-burning "Squawk Box" producers runs over to my desk asking, "Hey, is this J and J thing a big deal?" I said, "What J and J thing?" "Check the wires," he said. Here's what I saw...

  • US Panel Backs Abbott's Drug-Coated Heart Stent Thursday, 29 Nov 2007 | 9:18 PM ET

    Abbott Laboratories moved closer to joining the U.S. market for drug-coated heart stents on Thursday as an advisory panel backed the company's experimental device.

  • Genentech: Senate Eyes Avastin "Crack Down" Thursday, 29 Nov 2007 | 11:57 AM ET

    Senator Herb Kohl (D-Wisconsin), the Chairman of the Senate's Special Committee on Aging, has made public a copy of a letter he recently sent to Genentech's President of Product Development, Dr. Susan Desmond-Hellmann--a frequent guest on CNBC--regarding the company's new policy on the use of the eye drug Lucentis.

  • Pharma CEO's: Getting Them To Talk To Me Wednesday, 28 Nov 2007 | 3:40 PM ET

    Regarding my post from yesterday about Lilly CEO Sidney Taurel, a spokesman  left me a voicemail this morning to say it has no intention of backing out of the interview next week. I've got a tentative commitment from Bristol-Myers Squibb to interview its new CEO Jim Cornelius for the first time at that company's analyst meeting next week.

  • Merck Hits 60! (Dollars A Share) Will It Go Even Higher? Wednesday, 28 Nov 2007 | 11:05 AM ET

    During regular trading hours on Tuesday, Merck shares hit 60 bucks. If you bought the stock about two years ago and held it, you've doubled your money. Merck traded for 45 bucks and change the day before the company recalled Vioxx. It hadn't been above 60 since mid-2003. This has to go down as one of the greatest comeback stories in history.