MUMBAI, March 8- Indian drugmaker Ranbaxy Laboratories Ltd, reeling under a flurry of regulatory rebukes due to poor quality, has recalled more than 64,000 bottles of the generic version of a cholesterol-lowering drug in the United States after doseage mix-up was detected.» Read More
Pfizer may announce $2 billion in cost cuts including plant closings and slashing up to 10% of the work force when new chairman and CEO Jeffrey Kindler announces his plan next week for a strategic overhaul of the world's largest drugmaker, analysts say.
Swiss pharmaceutical giant Novartis said Thursday fourth-quarter net income rose 23% thanks to double-digit percentage sales growth in top-selling blood pressure and blood cancer drugs.
German drugmaker Merck said Thursday its fourth-quarter profit rose 18% after the company boosted sales of its Erbitux cancer treatment.
As we get into the thick of earnings season, next Monday is shaping up to be a big news day for big pharma. Before the bell Pfizer will put out its press release with its 2006 and fourth-quarter numbers. Then, at 1 p.m. ET the company is holding an analyst meeting in midtown Manhattan where "The Wall Street Journal" reports Pfizer will announce more job cuts and other changes in the way it does business ... Meantime, in lower Manhattan the patent trial over Bristol-Myers Squibb's blockbuster bloodthinner Plavix gets underway on Monday morning ... And, finally, opening arguments are set for Monday morning in the two-in-one Vioxx trial in Atlantic City ...
Pfizer's new chief executive is preparing a plan to overhaul the drug maker that could include cutting several thousand jobs and changing the way it develops, makes and markets medicines, The Wall Street Journal reported on Tuesday.
Drug maker Schwarz Pharma said Tuesday that its Neupro treatment for Parkinson's disease has received approval in Europe to treat the illness in its advanced stages.
Lots of corporate headlines are already getting attention ahead of the open. Stocks in the U.S. are lining up to open higher at this point, and earnings will be the big focus. After making gains yesterday, European stocks are mixed with a flattish performance, and Japanese stocks were little changed to the downside.
Financials and techs, two groups that pulled in the money last week, will be out in front of the news this week when earnings season is in full swing. Markets will also be watching key economic data, a parade of Fed speakers and whatever side show goes on when oil markets reopen, after last week's near six percent slide in crude.
President Bush renewed his veto threat today as the House of Representatives passed legislation that would require the government to negotiate drug prices for Medicare patients.
Even though the lights are packed away and the tree has been stripped bare, Santa brought one last gift to investors today. New data shows holiday shopping was more robust than Wall Street had expected. The U.S. Commerce Department reported retail sales rose 0.9% in December, that’s the strongest increase in 5 months.
More than $18 billion in pharmaceutical drugs are scheduled to go off-patent this year, and consequently medication makers are getting lots of attention from Wall Street. One company expected to benefit from patent expiration is generic drug manufacturer Mylan Labs. CNBC's Mike Huckman caught up with CEO Robert Coury at the JPMorgan Healthcare Conference in San Francisco.
Amylin Pharmaceuticals has felt the pressure of late since Merck released a diabetes drug to rival its own Byetta. And there’s no relief in sight with Novartis not far behind in getting approval for its Galvus treatment. CNBC’s Mike Huckman spoke with Amylin CEO Ginger Graham about how the competition is affecting the company.
The U.S. Supreme Court sided with MedImmune and reinstated the company's lawsuit challenging the validity of a key Genentech patent.
As we've said--CNBC pharmaceuticals reporter Mike Huckman is at the 25th Annual JPMorgan Healthcare Conference in San Francisco this week. This morning on “Squawk on the Street” he got a chance to talk to Celgene Chairman and CEO Sol Barer. Barer’s company is up 365% over the past three years and has a cancer-fighting drug he says has “multibillion-dollar potential.”
You’ll find some of the most influential figures in modern healthcare in San Francisco today, gathered together for the 25th Annual J.P. Morgan Healthcare Conference. This year, 6500 people are attending, including CNBC’s Mike Huckman who is sifting through volumes of data. In a "First on CNBC," Huckman spoke with James Sabry, M.D./Ph. D., the CEO of Cytokinetics.
Financial markets will have plenty of news to feast on in the coming week although the markets generated enough headlines on their own in the first days of January with just a few big stories to chew on. The second week of January is quite busy. We're looking forward to some of the most important and newsy industry conferences of the year, plus the start of earnings season, an important Fed speech, and some fresh economic data.
An ovarian cancer drug under development by Genentech that many investors had written off showed promise in a midstage trial, even though the trial may not have met its main goal.
If you’ve been extremely bored and somehow stumbled across my bio on the cnbc.com site, you’ll note that I have an extensive background in radio. Radio, as many have noted, has no pictures and is beautiful in its simplicity. TV, on the other hand, is nothing without pictures.
BioCryst Pharmaceuticals has won a $102.6 million government contract for advanced development of its influenza antiviral drug, peramivir.
Schering-Plough and OraSure Technologies said they have entered a two-year deal to jointly develop and market a rapid oral test for the detection of hepatitis C virus antibodies.