AbbVie Inc. said Thursday it is buying leukemia drugmaker Pharmacyclics for $21 billion, its first major deal since pulling out of the Shire takeover for tax reasons. AbbVie is offering $261.25 a share for Pharmacyclics under the cash and stock takeover. It is the first big acquisition for AbbVie since October when it scuttled a deal to buy Irish drugmaker...» Read More
Biotech giant Biogen Idec posted some disappointing third-quarter results, falling short of Wall Street expectations across the board. Does it matter, since the company has announced it's up for sale? Biotech analyst Christopher Raymond of Robert W. Baird thinks it does.
SGP took a beating after it missed its earnings, but investors shouldn't lose hope. Cramer talks to CEO Fred Hassan to find out what's on the horizon.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.
Biotechnology company Biogen Idec, which put itself up for sale earlier this month, reported third-quarter earnings and revenue Tuesday that fell short of analysts' expectations.
What can I say? I love alliteration. But investors in the drugmaker are probably in no mood for a cute, clever turn of phrase. SGP is absolutely getting hammered this morning after coming in with third quarter earnings below expectations.
To a five-star fund manager, it's not how big the stars are, but how brightly they're shining. In the pharmaceutical field, Kris Jenner of T. Rowe Price finds brightness at both ends of the size spectrum.
Will Friday’s sell-off have a dramtaic impact on Monday's trading and the earnings flood that lies ahead?
Schering-Plough on Monday reported third-quarter profit and sales that fell short of Wall Street's target, sending shares down more than 10 percent amid concerns about its flagship cholesterol drugs
Merck reported a better-than-expected profit, helped by sales of its vaccines and cholesterol drugs, and raised its 2007 profit forecast in view of strong current trends.
My recent posts on Genentech trying to crack down on doctors using its cheaper cancer drug Avastin instead of the more expensive Lucentis to treat patients with age-related macular degeneration--elicited a lot of emails from readers all over the world.
Gilead Sciences posted a third-quarter profit that topped Wall Street targets on Thursday, on sales of drugs that fight the virus that causes AIDS, compared with a year-ago net loss due to acquisition- related costs.
The Big Pharma earnings season is in full swing with Pfizer (PFE), Eli Lilly (LLY) and Wyeth (WYE) out Thursday and Merck (MRK) and Schering-Plough (SGP) reporting Monday. What’s the trade as the drug companies deal with their ailing pipelines?
European stocks finished in negative territory Thursday, after a sharper-than-expected drop in Bank of America's third-quarter profit caused by the credit crisis dragged financial and banking stocks lower.
Just months after launching what was hailed as a revolutionary new product, Pfizer is taking it off the market. And it has nothing to do with safety. It has everything to do with sales--or the lack, thereof. The world's biggest drug company only recently started direct-to-consumer advertising for Exubera, but it apparently didn't work.
Pfizer said on Thursday that third-quarter earnings fell sharply, hurt by a $2.8 billion charge to end its investment in its poorly selling Exubera inhaled insulin drug. But earnings excluding one-time items beat analysts' expectations.
Eli Lilly said Thursday third-quarter profit rose on higher sales of newer prescription drugs, including its Cymbalta anti-depressant, and the company raised its 2007 forecast.
Swiss drugmaker Novartis's third-quarter net profit missed forecasts, dropping by 12 percent to $1.57 billion, weighed down by the launch of rival generic versions of its drugs and a one-off charge.
The big drug complex including Pfizer (PFE), Eli Lilly (LLY), and Wyeth (WYE) are all under fire from generics and they all reporting earnings Thursday. How should you trade?
Abbott Laboratories on Wednesday said third-quarter earnings were little changed due to special charges, but the company reported sharply higher sales of its prescription drugs and medical devices.
There was a time within the past couple of years that it seemed you couldn't open a major newspaper or watch a TV news program without seeing a story about the bird flu and Tamiflu--the antiviral medicine from Roche and Gilead Sciences. GILD invented the drug and later sold rights to Roche which pays GILD a royalty on sales.
Bristol-Myers Squibb won U.S. approval Tuesday to sell a new drug called Ixempra for advanced breast cancer, the Food and Drug Administration said.