U.S. pharmaceutical giant Pfizer has approached British rival AstraZeneca to propose a 60 billion pound takeover, Britain's Sunday Times reported.» Read More
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.
Eli Lilly said it entered into settlement agreements with 14 groups involved in Zyprexa liability suits and will take a fourth-quarter charge of up to $500 million related to the litigation.
Just got back from a glorious trip to Pasadena where the outcome for my Trojans (apologies to any Michigan Wolverine fans reading this) was much better this year than last. And in a few days, we'll be heading back West to San Francisco to cover the JPMorgan Healthcare Conference which starts next Monday. This year, more than 300 companies will be presenting to nearly 7,000 attendees. That makes it the biggest healthcare investment conference...
Drug developer Exelixis Wednesday it agreed to develop cancer drug candidate XL518 with biotech drug maker Genentech.
Siemens AG said Wednesday it has completed its euro4.2 billion (US$5.57 billion) takeover of the diagnostics division of Bayer AG's health care business.
Almost every analyst has an angle on how to beat the market, and investors pay big money for trading tips that promise guaranteed profits. But here on CNBC we give that advice away for free. John Prestbo, editor of Dow Jones Indexes, shared his “Dogs of the Dow” strategy on “Morning Call” today. It returned 32% in 2006.
Sanofi-Aventis said it has won in an appeal by Canadian generic drugmaker Apotex which is prohibited from selling cheaper copies of Sanofi's bloodthinner Plavix in Canada.
A study being published in a major medical journal confirms the promise of a breast cancer drug from GlaxoSmithKline that's awaiting the approval of the Food and Drug Administration, CNBC's Mike Huckman reports.
Shares of Telik are plunging today, after its leading cancer drug failed late stage trials. CNBC'S Pharmaceuticals Reporter, Mike Huckman had more on the hazards of investing in biotech on "Power Lunch." Huckman says that in biotech it can be boom or bust if you're going to invest in the volatile sector and that there should be an assumed risk of caveat emptor--buyer beware.
It looks like the Journal of the American Medical Association (JAMA) chose fractures as the theme of its new issue. One study shows that taking a popular osteoporosis drug for 5 years and then going off of it for 5 years carries a residual beneficial effect almost as if the patient stayed on the drug for all 10 years. Merck paid for the study of its #3-selling drug, Fosamax. The only exception was a 55% increased risk of fractures of the spine for those who stopped taking Fosamax. Doctors say that means...
Zyprexa, the drug at the center of a patent dispute, is Eli Lilly's top seller and most profitable product.
Wondering how to make big money in drug stocks next year? Two analysts told us their winning prescription for your 2007 portfolio on today’s “Morning Call.” Their advice: Look for (positive) newsmakers and buy into generics.
After the market close yesterday Pfizer, in an SEC filing, revealed that ousted Chairman and CEO Hank McKinnell will walk away with nearly $200 million in pension benefits, deferred compensation and other cash and stock including more than $300,000 in unused vacation time. This is well above the pension benefits that had been reported earlier this year and includes money that had not previously been disclosed. A Pfizer spokesman says the company is honoring its legal obligation to meet the terms of McKinnell's employment contract which was signed in 2001--"a different time in the company's history," he said.
Pfizer's former Chief Executive Hank McKinnell -- who was replaced amid a sharp decline in the company's market value -- will receive about $199 million in total compensation after he leaves the board in February.
Bristol-Myers Squibb said it agreed to pay $499 million to settle federal investigations into questionable drug pricing and marketing practices, and lowered its full-year outlook to reflect the charges.
Boston Scientific has landed an exclusive contract to provide drug-coated stents to the Cleveland Clinic, one of the nation's most prominent cardiology centers, CNBC pharmaceuticals reporter Mike Huckman has learned.
Bristol Myers Squibb has had more than its fair share of problems over the past 5-7 years. This morning the company announced plans to settle several investigations involving it’s drug pricing, sales and marketing practices. CNBC's David Faber revealed the details on today's "Squawk On The Street."
Two days after Pfizer named new CEO Jeff Kindler Chairman of the Board, Merck has promoted its CEO Dick Clark to Chairman as well. Clark has been on the job a year longer than Kindler and Merck's stock has performed about three times better than Pfizer shares this year. Former Pfizer CEO Hank McKinnell was expected to remain Chairman through next February, when he will leave the Board altogether, but the directors decided to give Kindler an early Christmas present.
Invega, considered by some the most important drug in J&J's pipeline, will be marketed in the United States by the company's Janssen LP unit.