KENILWORTH, N.J.— Drugmaker Merck says it's bought a Swiss biotech company developing cancer drugs as part of its strategy to be a top player in cancer, one of the hottest pharmaceutical research areas. Merck& Co., based in Kenilworth, New Jersey, will pay up to $110 million upfront to OncoEthix. The privately held company could receive further payments of up to $265...» Read More
The U.S. Food and Drug Administration is preparing to warn physicians about hazards with drugs that use ultrasound imaging machines to enhance the diagnosis of heart problems, the Wall Street Journal reported on its Web site on Sunday.
As recession fears recede, investors show an increasing willingness to bet on another interest rate cut from the Federal Reserve.
It's a trade we told you about earlier this year. The rising cost of health care has sparked new interest in the early detection of diseases. We may have gotten a few such breakthroughs Thursday.
This morning Bear Stearns put a $700 price target on shares of Google. But that's not the only stock getting a new stratospheric price target by an analyst. Michael Shulman is not Bear Stearns--he writes a newsletter for subscribers called, "ChangeWave Biotech Investor" and he maintains a blog. And in his weekly message yesterday Shulman moved his price target on Cepheid spacer from $40 to $110.
Scott Richter, portfolio manager with Fifth Third Asset Management, oversees the Fifth Third Disciplined Large Cap Value Fund. The fund is up 8 percent year-to-date and 13 percent over the last three years. The strategist offered CNBC viewers and CNBC.com readers a few of his favorite stocks in the health care and biotechnology sector.
Close on the heels of announcing the hiring of a Chief Talent Officer, Pfizer this morning named a new head of Global Research and Development to replace John LaMattina who had earlier said he'd be leaving the drug company. It was on LaMattina's watch that Pfizer's next potential breakout blockbuster drug, torcetrapib for cholesterol, failed in a late-stage clinical trial.
Pfizer put out a press release this morning announcing that it has added another office in the C-Suite. The world's biggest drug company has hired a CTO. What's a CTO, you ask?? Well, it doesn't stand for what you might guess--Chief Technology Officer. Nope, Pfizer has created the position of Chief Talent Officer.
This week it's 25 years since the first of seven people in Chicagoland died after taking Tylenol laced with cyanide. The scare led to new industry-standard, tamper-resistant over-the-counter drug packaging and became an enduring textbook case for corporate crisis management.
Team Biotech at the boutique firm of Rodman & Renshaw is picking up coverage today of the highly controversial therapeutic cancer vaccine space. In a 330-page research packet for clients analyst Ren Benjamin provides a nearly 200-page primer on the technology and then individual notes on four therapeutic cancer vaccine companies.
The Dow is sitting at a new high and you could argue that the move in the pharmaceuticals sector today is largely market related with Dow components Merck, Pfizer and Johnson & Johnson all trading up. As I write this the biggest dollar gainer in the group is Eli Lilly. But the largest percentage gainer is Schering-Plough.
Stocks are likely to see further gains in the fourth quarter but the ride may be bumpy. "October is usually volatile, but we may see a rally in November or December," says Charles Rotblut of Zacks.com.
Everyone's favorite biotech--investors seem to either love it or hate it--was one of the presenters this morning at the UBS Global Life Sciences Conference in New York City. CEO Dr. Mitchell Gold once again did the honors. Generally speaking, biotech investors focus on milestones or key events in drug development.
Wyeth said it named Chief Operating Officer Bernard Poussot to the position of chief executive officer of the company, effective Jan. 1, 2008.
U.S. regulators have not approved Novartis's Prexige painkiller, the Swiss drugmaker said on Thursday, in an expected move after Australia withdrew the drug due to concerns over liver side effects.
A couple of days home sick with daytime television as your nursemaid can tell you a lot about the current state of multi-billion dollar pharmaceutical advertising. Yeah, we all know it's ubiquitous, but there are at least a couple of noticeable new players and an older one hitting the airwaves.
Drug maker Bayer said Tuesday that it will delist its shares from the New York Stock Exchange this week, a move the company said would save it $21.2 million per year.
Right on the heels of my previous blog entry about an analyst saying a Medicare reconsideration of its anemia drug reimbursement policy may be in the offing comes this news out of the agency.
After being down about half-a-dollar in early trading, volatile shares of Amgen are trimming their loses and heading back into positive territory at this writing. That turnaround could be from the dissemination of a research note from Wachovia biotech analyst George Farmer.
The drugmaker Novartis said Monday that the European Commission had approved its Exelon skin patch to treat Alzheimer's disease.
It's relatively lightly traded and it's a very small market cap (under $500 million), but shares of Sirtris Pharmaceuticals are sitting at a new high in the early going today. The stock has had a very nice move since the end of June when it was trading for less than 10 bucks. Today, it's over $15.