TRENTON, N.J.— The Food and Drug Administration has approved a new medicine to fight complex infections in the abdomen and urinary tract, the fourth antibiotic the agency has approved since May. The approval of Zerbaxa on Friday is the second antibiotic approval this year for Cubist Pharmaceuticals, a drugmaker focused on antibiotics. It is being acquired for...» Read More
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.
The 4th of July arrived a day early for investors in Dendreon. The stock is up, yet again, on heavy volume this morning after I reported on a new review published in the journal of the American Association of Cancer Research about therapeutic cancer vaccines (see video below). Dendreon's Provenge is a therapeutic vaccine. That means it's given after you get the disease to try to power your own immune system to combat it. It shouldn't be confused with traditional preventive vaccines which are given to hopefully keep you from coming down with something.
Shares of band Tyco International and its spun-off units Covidien and Tyco Electronics, declined on Monday in their first official day of trading as separate entities.
Bayer CEO Werner Wenning signalled that the company is set to take a break from big acquisitions after a spate of deals that have catapulted it into leading positions in healthcare and crop science.
Rite Aid, the third-largest U.S. drugstore chain, posted a higher quarterly profit Thursday as an income tax benefit and a gain on asset sales offset acquisition costs.