OAKLAND, Calif.— The U.S. Supreme Court is letting a Northern California county's drug disposal law stand, paving the way for similar ordinances elsewhere. The court refused to hear the pharmaceutical industry's challenge to an Alameda County program that requires drug companies to pay for the disposal of unused medicines. The law was passed to prevent unused...» Read More
As I begin my vacation, I wanted to tell you about a story I did that's airing while I'm away on the new edition of CNBC's "Business Nation" this Wednesday (November 7th) at 9 p and midnight ET. It's about the increasingly strained relationship between drug sales reps and doctors.
I'm taking some much needed time off for a couple of weeks. Actually, our scheduling guru at CNBC, Alex Crippen, told me if I don't use all of the days I've accumulated by the end of next month, I'll lose them. I consider myself a hard worker, but I'm not that generous. So, off I go.
There's a flurry of selling going on this morning in shares of the biopharma Vertex Pharmaceuticals. Overnight the embargo lifted on the long awaited results of the company's mid-stage test on a new type of Hepatitis C drug. Two studies show that six months out 60% and 65% of patients had no detectable virus in their blood.
This morning we got more evidence about the havoc generic Zocor is wreaking on all of the companies that make brand-name statins--the pills to fight cholesterol. AstraZeneca is the latest casualty. On a down day in the markets AZN is one of the biggest losers in the sector.
Britain's Shire beat forecasts with a 32 percent rise in third-quarter underlying earnings on Thursday and said its new hyperactivity drug, Vyvanse, had been well received by doctors and patients.
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.