NEW YORK, Oct 20- AbbVie Chief Executive Officer Richard Gonzalez for three months led the charge to buy Dublin drugmaker Shire for $55 billion, only to walk away from the deal last week, but analysts and fund managers said he deserves credit for trying and should remain at the helm of the Chicago drugmaker. Investors were given no advance warning on Thursday, when...» Read More
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.
A slew of companies will be reporting third-quarter results, and investors will be watching not only for the latest figures but what companies predict about future profits.
U.S. regulators approved a new AIDS treatment made by Merck, the first in a new class of drugs aimed at preventing replication of the virus, Merck said on Friday.
I blogged earlier today that I'd reached out to Pfizer for comment regarding Jeff Kindler's contribution to Sen. Hillary Clinton and would let you know if or when I heard back. Well, this just arrived in my inbox from Jack Cox with Corporate Affairs:
Peter Rost, who burst onto the business news landscape a few years ago as a Pfizer whistleblower and the subject of a piece on CBS' "60 Minutes", is enjoying a new career as a blogger and a reporter for Brandweek. And late yesterday he's blitzing some of his reporter contacts with this item about the apparent 180-degree change presidential politics at the world's biggest pharmaceutical company.
It didn't take long. Yesterday, I blogged that I'd be curious to hear what the response of doctors might be to Genentech's new crackdown on the use of Avastin instead of Lucentis for age-related macular degeneration. Today, the American Academy of Opthamology put out a press release saying the new policy "could have a significant impact on the care of patients with (AMD)."
Yesterday I reported that Genentech had quietly buried on its web site www.gene.com the announcement of its new crackdown against using Avastin instead of Lucentis for adult-onset blindness. From the homepage, I had counted four somewhat counterintuitive clicks to get the link to the letter detailing the new policy.
Shortly after writing my last blog entry on Genentech's new ranking and part of the reason for its fall being blamed on the Lucentis/Avastin eye drug controversy, I came across this news item on The Wall Street Journal's Health Blog.
If the pharma company wins its lawsuit with Roche, investors could do very well with this stock.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.
What a week for upsets. First, the 35-game home field winning streak of my USC Trojans comes to an end at the hands of the 40-point underdog Stanford Cardinal. Then, today, Genentech's six-year reign at the top of a big industry survey is over. Boehringer Ingelheim is the new number one!