Shares of Valeant Pharmaceuticals plunged 7 percent Thursday after the company slashed its earnings and revenue forecasts. The Canadian drugmaker now expects 2014 earnings to range between $7.90 and $8.10 per share, down from a forecast it made in April for $8.55 to $8.80 per share.» Read More
The number of Americans dying from cardiovascular disease is going down, but it's still the leading cause of death in the United States. The American Heart Association reports that in 2004 -- the most recent year statistics that are available -- 42,000 fewer people died from cardiovascular disease than in 2003.
More than seven-and-a-half million people -- or about 20,000 people a day -- will die of cancer this 2007. That's the sobering new estimate from a first-of-its-kind global study out of the American Cancer Society.
Shares of biotech behemoth Amgen are trading at a new intra-day low in the early going this morning after the company announced new data on its developmental osteoporosis drug late Friday. The Phase 3, or late-stage, study was designed to see if the twice-a-year injectable drug strengthened the bones of women with a certain type of breast cancer.
GlaxoSmithKline's cervical cancer vaccine Cervarix faces a delay in winning approval in the United States, putting it further behind Merck's rival product Gardasil.
Study results show the new oral drug Tykerb from GlaxoSmithKline, combined with chemotherapy, may shrink metastatic brain tumors.
The biotech momentum players and the Dendreonites--or Dendreonians--are buzzing about the story we broke on "Power Lunch" Thursday that three members of Congress are asking the House Energy and Commerce Committee to hold a hearing about the Dendreon/Provenge saga. The shares spiked on very heavy volume.
Novartis is the latest company to brand its downsizing, cost-cutting campaign. The Swiss drugmaker is calling its initiative, "Forward". It's not an acronym. So, "Forward" means Novartis is going to try to save $1.6 billion in 2010 and get rid of 2,500 employees. Although I don't think "Forward" is the word which begins with "f" that the affected workers would use to describe the initiative.
Dendreon shares surged after three members of Congress asked for an investigation of a Food and Drug Administration panel's vote against the pharmaceutical's prostate cancer drug.
Biogen Idec said after markets closed Wednesday that it ended its review of strategic options after failing to receive any definitive takeover bids.
Last year one of our producers had the bright idea of assigning each of CNBC's beat reporters a story about seven predictions for their beat for 2007. So, now this year not only do we have to do the 8 for '08 thing for TV, but also for the blog.
The morning after the Merck annual business briefing, the analyst reviews are pouring in. For the most part, the ones that I've received at least, say it had a good beat. Only Sanford C. Bernstein's Tim Anderson says he can't dance to it. He titles a research note to clients, "Annual Business Review Uneventful--No Real Surprises, Positive Or Negative."
I'm back at Merck HQ in central Jersey for the annual analyst meeting. And I must say that the reception--so far, at least--is much more hospitable and helpful than last year wen things were tense and got a little ugly. A new pr team is in place.
Merck Tuesday reaffirmed its earnings forecast and said it plans to begin late-stage trials next year on a drug to raise "good" HDL cholesterol that has not been dogged by the problems that sank a similar high-profile drug being developed by Pfizer.
Novartis plans a restructuring that will result in job cuts and the removal of several layers of management, according to an interview with CEO Daniel Vasella in the Wall Street Journal Europe.
What’s the biotech trade as the American Society Of Hematology Conference kicks off in Atlanta?
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.
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.
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.
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.