WASHINGTON, May 6- The U.S. Food and Drug Administration will hold a public meeting this summer to address drug company concern that restrictions on what they can say about off-label use of drugs violate their first amendment right to free speech. Efforts by drug companies to change the rules gained steam after a 2012 decision from the Second Circuit Court of...» Read More
Shares of McKesson jumped to their highest price since 1999 on Wednesday, the day after the drug wholesaler posted better-than-expected quarterly results and raised its outlook for the full year.
French drugmaker Sanofi-Aventis raised its full-year 2007 outlook on Wednesday as it reported a forecast-beating 9.1 percent rise in third-quarter profit, helped notably by vaccines and cost cuts.
Pharmaceutical wholesaler McKesson reported that its quarterly profit rose a better-than-expected 8 percent, led by increased demand for its drug distribution business, and the company raised its full-year earnings forecast.
In a remarkably candid "Open Letter" on the homepage of its web site Genentech is taking a step back from implementing its new restrictive policy over the use of the cancer drug Avastin in lieu of Lucentis for age-related macular degeneration (AMD), the leading cause of adult blindness. I had recently blogged about the company's action and angry reader response to it.
TheStreet.com's senior biotech writer Adam Feuerstein broke this story earlier today, but now we've confirmed it independently. The American Society of Clinical Oncology (ASCO) is changing its ways.
Pfizer has been using Dr. Robert Jarvik, the inventor of the Jarvik Artificial Heart, for quite some time now as its Lipitor "celebrity" pitchman. But recently I've noticed something remarkable creeping into his copy--the script he reads for TV and radio spots and the text that appears in the print ads.
British health authorities today announced that starting next fall, all 12- and 13-year-old girls will have to get the controversial shots to prevent the sexually transmitted virus that can lead to cervical cancer. Merck and Sanofi-Aventis are partners on the vaccine Gardasil and the UK-based GlaxoSmithKline makes a similar one Cervarix.
If the stock closes down at least 4.46% today (as I write this it is off nearly 7%) Eli Lilly will suffer its worst one-day loss in more than four years, according to our resident statistical expert Robert Hum. If it were to close off more than 7.79%, Hum says it would be the stock's biggest one-day fall since Oct. 23, 2002--almost five years to the day.
Even as much of the economy contracts, health care continues to grow, and investment opportunities continue to grow with it. What to choose among those investment opportunities? Analyst Michael Magiera of Manning & Napier looks past some of the more volatile pharmaceutical stocks.
Bristol-Myers Squibb Thursday said third-quarter earnings more than doubled on higher drug revenue, including a strong rebound for its Plavix blood-clot preventer, and raised its 2007 profit forecast.
Eli Lilly said it stopped giving its experimental blood-clot preventer prasugrel to heart patients in two small trials, noting that the dosage of the drug may have to be adjusted for certain types of patients.
On a day when the markets are selling off, shares of the world's biggest biotech company--by sales--are holding their own. There are a few things that could be buoying Amgen's stock. The company won a huge patent battle yesterday, it reports earnings after the closing bell today and an analyst has upgraded the stock to "Outperform".
Major European indexes closed lower after U.S. existing-homes sales fell 8% in September to a record low 5.04 million unit because of troubles in the subprime mortgages and credit markets.
Shares in the world's second biggest drug company, GlaxoSmithKline, are giving back all of yesterday's gains in early trading this morning. That's because sales of its embattled diabetes drug, Avandia and other Avandia-related products took a huge dive in the third quarter. Down 48% in the U.S. from the same time last year.
GlaxoSmithKline posted a lower profit on Wednesday due to tumbling sales of its Avandia diabetes drug, generic competition and pressure on top-selling asthma treatment Advair, and said it would cut jobs to save costs.
German pharmaceutical and chemical company Merck KGaA said Wednesday that its third-quarter profit fell 75 percent because of costs related to its purchase of Swiss biotech firm Serono.
Does Big Pharma need a modern day match-maker? With so many weak pipelines, the Fast Money traders think some could use a mate!
It isn't moving the stock, but Dendreon this morning announced that it has signed up all of the patients for the big clinical trial that could lead to its prostate cancer drug, Provenge, winning Food and Drug Administration approval. The completion of enrollment was not unexpected, so that's why people aren't trading on the news.
A Boston jury Tuesday found that the patents on Amgen's top-selling anemia drugs are valid, blocking Roche from launching a rival medicine in the United States and sending Amgen shares up more than 2 percent.
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.