Sept 18- Rite Aid Corp, the third-largest U.S. drugstore chain, cut its full-year profit forecast for the second time, citing lower margins in its pharmacy business, sending its shares down 11 percent in premarket trading.» Read More
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.
Health care products maker Johnson & Johnson said Tuesday its third-quarter profit fell about 8 percent because of a charge for cutting jobs, primarily in its stent-making and pharmaceuticals businesses.
If you saw the headline, you would've thought that Johnson and Johnson might help power the Dow today. The hybrid pharmaceutical, medical device and consumer healthcare products company handily beat the Street and raised its guidance for the year.
Forest Laboratories said Tuesday quarterly earnings fell 7 percent, hurt by a charge related to a product-licensing deal, and posted revenue that missed Wall Street expectations.
Shares in Roche Holding slump on Tuesday after Swiss pharmaceutical company reported sales that came in below analysts' forecasts.
Late last week, I blogged about keeping an eye on the Lucentis sales number when Genentech reports earnings. Well, the company is just out with its release and, sure enough, revenue from the drug for age-related macular degeneration (AMD) fell sequentially from the second quarter to the third quarter.
This morning on "Squawk Box" and "Squawk on the Street" I reported on a new study showing that a simple blood test might predict whether you will develop Alzheimer's Disease. The report, which appears in the scientific, peer-reviewed journal "Nature Medicine...
For quite some time now analysts and investors have been speculating that big pharma would go on a biotech buying binge. So, will the announcement by Biogen Idec late Friday that it's putting itself on the market be the spark that ignites an M & A explosion in the sector? Perhaps.
Biogen Idec, which has put itself up for sale, may get bids of around $25-30 billion from several of the world's top drugmakers keen to expand in the hot area of biotech medicine.