Shares of Array BioPharma soared Friday after the drug developer said it will buy worldwide rights to a potential cancer treatment in late-stage clinical testing from Swiss pharmaceutical giant Novartis. The Boulder, Colorado, company said the deal is conditional on Novartis closing some acquisitions with British drugmaker GlaxoSmithKline PLC that it...» Read More
Abbott Laboratories posted higher second-quarter earnings Wednesday on increased sales of its prescription drugs, with global revenue from arthritis treatment Humira jumping 50%.
Novartis cut its full-year results outlook as generic competition pressured sales of a key blood-pressure drug, and said U.S. regulators had delayed the approval process for an important cancer treatment.
The headline might say, "Johnson & Johnson Beats the Street," but investors are looking behind it and that's what is pushing this Dow component down this morning. For example, JNJ says its topline growth would have been just 3.6% instead of 13% if it had not bought Pfizer's consumer health care business last year for $16.6 billion. JNJ is kind of a three-pronged hybrid: pharma, medical devices and consumer healthcare.
These days, it's not uncommon to see campaigns calling for the withdrawal of a drug from the market because of safety concerns. That's why this campaign urging the approval of a drug is extraordinary. Proponents of Dendreon's Provenge took out this no-frills, half-page ad in the opinion section of Sunday's edition of "The Washington Post".
Merger news and corporate announcements were some of the catalysts behind the most actively traded stocks on Thursday.
ImClone Systems said on Thursday its drug Erbitux failed to meet the main goal in a late-stage study for advanced lung cancer.
A couple of months ago I took ImClone to task here for putting a Hollywood studio executive on its Board of Directors. The post caused me to be frozen out of communication with the company--calls were not returned, emails did not get a reply. We've since mended fences and it looks like IMCL may have gotten a message. Here's part of its press release issued late yesterday announcing that Dr. Thomas Deuel is coming onto the Board.
While I'm sitting in a plane on the tarmac at Newark Liberty Airport for going on four hours now I write about the latest twist and turn in the Dendreon saga. Late Tuesday, in an SEC filing, the company disclosed that it got a letter dated July 9th informing Dendreon that the agency has launched an informal inquiry "related to the Company’s clinical trials for Provenge .
European banking stocks were among the hardest hit in a global selloff Wednesday as investors feared U.S. subprime weakness could spread to European mortgage lenders.
With a big drug finishing its Phase III trial, this stock could be ready to move.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.
Ariad Pharmaceuticals said a U.S. federal court ruled in favor of it and co-complainants in a patent infringement case against Eli Lilly, saying that the patent was valid and enforceable.
In the "Sunday Styles" section of "The New York Times" the paper runs a very prestigious weekly feature known as "Vows". It's a relatively long write-up of someone's wedding and accompanied by pictures from the event. Yesterday, the Times highlighted the ceremony of Andrew Solomon and John Habich (for at least a few years now, The Times has included same-sex partnerships in its "Weddings/Celebrations").
Johnson & Johnson said on Monday its board of directors approved the repurchase of up to $10 billion of its common stock.
Big contract wins and corporate dealmaking were some of the catalysts behind Monday's most actively traded stocks.
Roche has signed a deal worth up to $1 billion with Alnylam Pharmaceuticals, giving it access to the U.S. firm's skills in the new science of silencing genes to fight disease.
Warm weather and corporate announcements were some of the catalysts behind the most actively traded stocks on Friday.
Genzyme said Friday its experimental drug tolevamer, a treatment for diarrhea associated with the intestinal infection Clostridium difficile, worked no better than a standard antibiotic, sending the company's shares down more than 5 percent.
Shares in Belvedere jumped 7% Friday as the French wine and spirits group said it will sell its Pulco and Sirop Sport businesses to Orangina Group for 178 million euros ($242.9 million).
Below the fold on today's front page of the "The Washington Post" is an article headlined, "FDA Delay in Cancer Therapy is Attacked". It begins with an anecdote that I had reported a month ago during our live coverage from ASCO--that the outspoken critics of Dendreon's Provenge had hired private security to protect them during the cancer conference because they'd allegedly received threats from Provenge proponents. Most of the article covers familiar ground...
Business has continued to boom at the Chicago Board Options Exchange. The exchange said after the market closed Monday that average daily volume during the month of June was up 24% to 3.5 million contracts, compared with 2.9 million contracts during June 2006. Average daily volume jumped 20% during the second quarter.