ST. PAUL, Minn.— Years before Burger King sized up a Canadian headquarters in a hunt for lower taxes, Republican U.S. Senate candidate Mike McFadden's investment firm was involved in a merger that moved an American pharmaceutical company to Ireland and significantly dropped its tax rate.» Read More
Yet another chapter in the unfolding saga of Genentech's Avastin being used instead of Lucentis to treat age-related macular degeneration (AMD). The other day I blogged about the new "Open Letter" on the company's homepage announcing that it's delaying the implementation of its attempted crackdown on the cheaper, similar cancer drug being used...
AmerisourceBergen, one of the top U.S. drug wholesalers, said Thursday that quarterly earnings fell 28 percent as it took a write-down on its tetanus-diphtheria vaccine inventory.
AstraZeneca profits fell 14 percent in the third quarter, hit by competition from cheap generics plus acquisition and restructuring charges, the Anglo-Swedish drugmaker said on Thursday.
The chief executive talks up his approach to business, a pesky payment owed by Procter & Gamble and why the company will succeed where rivals have failed.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.
Today's the day Eli Lilly was expected to get a Food and Drug Administration decision on the first-ever one-a-day impotence drug. Right now, the company sells Cialis for use as needed. But men could pop this one every day--like an aspirin or multi-vitamin--so the drug would always be "on boa
This morning Amylin Pharmaceuticals, Eli Lilly and Alkermes announced the highly anticipated test results on their once-a-week, Type 2 diabetes drug. One analyst recently called this the most important biotech data of the second half of this year. Many expect the drug to become a multi-billion dollar blockbuster.
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.