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Pharmaceuticals

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  • FDA: Behind the Numbers Wednesday, 15 Aug 2007 | 10:53 AM ET

    BioMedTracker, which monitors drug development for investors, ran some numbers for me. As of August 13th, how does the number of FDA-approved drugs and "approvable" drugs compare to the same period a year ago? According to the company, drug approvals are down 16% and approvable letters are up 55%. An approvable letter is what the FDA issues when it believes it might someday okay a drug, but only if a company provides additional -- often publicly unspecified -- data. So, for investors, "approvable" is a euphemism for delay.

  • Turning Up the Heat (Again) on the FDA Tuesday, 14 Aug 2007 | 3:08 PM ET
    FDA

    For the second time in two weeks, an op-ed item appears in The Wall Street Journal today calling out the FDA for its record on timely approval of cancer drugs.

  • Pharma's Market Mail Tuesday, 14 Aug 2007 | 11:46 AM ET

    Bryan Gaffin, VP, Group Creative Director at G2 Direct & Digital writes to say that his division and not G2 Branding & Design is responsible for the new Pfizer website. They're part of the same company, WPP Group, but separate divisions. Credit where credit is due.

  • A Touchy, Pfeely Pfizer Monday, 13 Aug 2007 | 6:03 PM ET

    If you haven't been to the world's biggest drug company's homepage recently you might want to check it out. It used to be very corporate and stodgy. But earlier this month, the website got a facelift.

  • Amgen May Downsize, Analyst Upgrade Monday, 13 Aug 2007 | 12:30 PM ET

    After falling to a new low on Friday, Bernstein Biotech Analyst, Geoffrey Porges, is upgrading shares of AMGN from Market Perform to Outperform. Investors are bidding up the beaten down stock in midday trading. Bernstein makes a market in the stock.

  • U.S. health officials have determined that a schizophrenia drug developed by Wyeth and two other drugmakers is not approvable, the companies said Friday, dealing Wyeth a second setback in less than a month to an important product.

  • Amgen: Reports Of Layoffs Question Company's Health Friday, 10 Aug 2007 | 2:03 PM ET
    The sign outside Amgen Inc.'s entrance. Thousand Oaks, Calif.

    The Los Angeles Times reports in a front-page article that Amgen may announce layoffs soon. The report attributes the information that the company may get rid of 15% of its employees within the next several weeks to "three people familiar with the matter".

  • ImClone's New CEO: Is Buying Company Stock Good Idea? Friday, 10 Aug 2007 | 10:35 AM ET
    ImClone

    Late Thursday, ImClone Systems announced it has finally hired a permanent CEO. It'd been without one for about two years. The biotech company which makes the cancer drug Erbitux and became reluctantly famous in the Martha Stewart stock-trading case tapped a guy named John Johnson for the role.

  • Johnson & Johnson Puts Red Cross In Legal "Cross Hairs" Thursday, 9 Aug 2007 | 12:11 PM ET
    Johnson & Johnson

    Johnson & Johnson, the drug/medical device/consumer health products company reeling from a plunge in sales of its anemia drug, Procrit, and its drug-coated stent, Cypher, is going to court. Not to defend a lucrative pharmaceutical patent, but to get The Red Cross to stop using its red cross logo on certain marketed products like humidifiers and grooming tools.

  • Johnson & Johnson Sues Red Cross Over Use of Emblem Thursday, 9 Aug 2007 | 10:27 AM ET

    Johnson & Johnson, the pharmaceutical giant which uses a Red Cross as its trademark, filed a lawsuit Wednesday against the American Red Cross, demanding that the charity halt the use of the red cross symbol on products it sells to the public.

  • Cardinal Health Reports Quarterly Net Profit Rise Thursday, 9 Aug 2007 | 7:37 AM ET

    Cardinal Health on Thursday said its quarterly net profit rose, led by strong demand for medical pumps and other devices in its Clinical Technologies and Services business.

  • Barr Pharmaceuticals Profit Down, but Beats Street Wednesday, 8 Aug 2007 | 12:27 PM ET

    Barr Pharmaceuticals said Wednesday quarterly earnings fell sharply, hurt by costs tied to an acquisition, but its operating profit beat Wall Street estimates as generic drug sales soared

  • A rebound in the financial sector and positive earnings surprises triggered gains for some of the most actively traded stocks on Tuesday.

  • GSK's Avandia: Analyzing The Analyzer (Dr. Nissen) Tuesday, 7 Aug 2007 | 10:35 AM ET

    Yep, you probably could have called this one, but researchers have done an analysis of Dr. Steven Nissen's controversial meta-analysis that started the Avandia safety scare. Their findings are published in the Annals of Internal Medicine and touted and brought to my attention in an email from a GlaxoSmithKline PR person. A meta-analysis is what one of our contacts called "a mish-mash" of a bunch of clinical trials.

  • Hot Stocks: Brokerages, Fannie Mae Among Big Movers Monday, 6 Aug 2007 | 4:24 PM ET

    Corporate news and analyst upgrades were some of the catalysts behind the most actively traded stocks on Monday.

  • Merck: As Stock Gets Upgrade Is Vioxx Coming Back? Monday, 6 Aug 2007 | 11:26 AM ET

    In very early trading MRK shares are rallying this morning on the wings of an upgrade at Cowen & Co. by analyst Steve Scala from Neutral to Outperform. He's been at a Neutral since a year and one month ago when the stock was sitting in the 30s. Today it's in the low 50s.

  • Trexima Study Update: No Hamsters Harmed Friday, 3 Aug 2007 | 2:44 PM ET
    Chinese Hamsters

    I have a clarification to make regarding my previous blog entry about the Chinese Hamster problem facing GlaxoSmithKline and Pozen. Thanks to blog-reader Brian Orelli with www.babybiotechs.com who caught the error and pointed it out in an email: "Chinese Hamster Ovary (CHO) cells are grown in tissue culture and the mega dose of the drug was given to the CHO cells growing in media in a tissue culture dish/flask in an incubator...

  • Pharmaceutical company Novo Nordisk, the world's largest producer of insulin, said Friday that second-quarter net profit more than doubled and raised its guidance for the full year. Its shares rose more than 4%.

  • Pozen and Glaxo's "Hamster Problem" With Trexima Thursday, 2 Aug 2007 | 1:57 PM ET
    Chinese Hamster

    So, I just got off the Pozen conference call about the Trexima delay (by the way, it won't be called Trexima if/when it comes to market, as the FDA is asking Glaxo for a name change. The agency sometimes does this if, for example, it believes the name looks or sounds too much like an existing drug and could confuse pharmacists.)

  • FDA Delays Approval of Glaxo, Pozen Migraine Drug Thursday, 2 Aug 2007 | 1:19 PM ET

    U.S. regulators have delayed approval of an experimental two-in-one migraine drug from GlaxoSmithKline and Pozen yet again, sending Pozen stock down 45 percent on Thursday.