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Pharmaceuticals

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  • Pharmacy benefits manager Express Scripts has launched a hostile $26 billion bid to buy rival Caremark a move that could trump Caremark's current deal to be acquired by drugstore chain CVS.

  • Report: Eli Lilly Said to Play Down Risk Monday, 18 Dec 2006 | 2:20 PM ET

    Eli Lilly has downplayed for about 10 years the risks associated with Zyprexa, which treats schizophrenia, The New York Times said on its Web site Sunday, citing internal documents from the drug maker and e-mail messages of its managers.

  • Biosante Shares Soar on Elestrin OK Monday, 18 Dec 2006 | 12:39 PM ET

    The drug, designed to treat hot flashes associated with menopause, will be marketed in the U.S. by Bradley Pharmaceuticals .

  • Harrah's, Caremark: Merger Mania Heats Up Monday, 18 Dec 2006 | 10:03 AM ET

    The private equity surge continues. About $60 billion in mergers and acquisitions deals just in the U.S. have been announced this morning. Apollo Management alone is involved in two of the four deals. The only buyout not involving a PE firm was an aggressive bid by Express Scripts for Caremark Rx – which was already entertaining a bid from CVS. CNBC’s Melissa Lee reported the story on “Squawk on the Street.”

  • Eli Lilly: Pushing Drug Despite Warnings? Monday, 18 Dec 2006 | 9:49 AM ET

    Big pharma company Eli Lilly is coming under fire. CNBC's Pharmaceuticals Reporter Mike Huckman had the late breaking details on this morning’s “Squawk Box.”  Huckman reported that Eli Lilly said sales of its top selling drug Zyprexa would be “stable” next year (the drug is used for schizophrenia and bipolar disorder).

  • Merry Merck Monday, 18 Dec 2006 | 9:49 AM ET

    Merck won two more Vioxx cases in three days.  Last Wednesday it got a victory in another federal case and then on Friday, it picked up a win in an Alabama trial.  The drug company says it is now 9 and 4. The stock closed up 40 cents on the news.  And before Christmas there could be another Vioxx verdict. 

  • Bayer AG said Monday it is selling its Wolff Walsrode business, which specializes in cellulose products, to the Dow Chemical Co. for an undisclosed sum.

  • Merck Wins Another Vioxx Trial Friday, 15 Dec 2006 | 2:59 PM ET

    An Alabama state court jury deliberated for less than two hours before finding for the drug maker on two counts.

  • European Agency Backs Glaxo Bird-Flu Shot Friday, 15 Dec 2006 | 7:44 AM ET

    A first-generation experimental bird flu vaccine for use in humans from GlaxoSmithKline has won outline support from European regulators.

  • Merck Wins Another Vioxx Case Wednesday, 13 Dec 2006 | 4:11 PM ET

    A New Orleans jury handed Merck  a victory today in the latest federal Vioxx product liability trial, finding that the drugmaker adequately warned of the heart risks associated with the medicine.

  • FDA May Expand Antidepressant Warning Wednesday, 13 Dec 2006 | 12:12 PM ET

    Treatment with antidepressants increases the risk of suicidal thoughts and behavior in patients up to age 24, according to proposed changes to the drugs' labels unveiled by health officials.

  • Merck Has One, Too Tuesday, 12 Dec 2006 | 2:27 PM ET

    At the Merck annual analyst day here in company headquarters in central New Jersey, the company revealed for the first time what many on the Street had suspected: it has a so-called CETP inhibitor in the drug development pipeline.  That's the same type of drug that Pfizer pulled the plug on last week because of an increased risk of death.

  • Merck to File Three New Drug Applications in 2007 Tuesday, 12 Dec 2006 | 11:41 AM ET

    Merck said it plans to seek U.S. approvals next year for drugs to treat HIV, cholesterol and insomnia, and aims to have another four products in late-stage trials by mid-2007.

  • CNBC's Huckman Previews Key Merck Meeting Tuesday, 12 Dec 2006 | 8:36 AM ET

    Merck is holding its annual analyst meeting today. On this morning’s "Squawk Box", CNBC'S pharmaceuticals reporter Mike Huckman explained why investors are so eager to learn about this company's R & D developments. Huckman says the major issue is whether Pfizer’s loss of torcetrapib, a cholesterol treatment, could be Merck’s gain...

  • What a Week! Monday, 11 Dec 2006 | 1:33 PM ET

    From the Pfizer shocker about Torcetrapib, to new guidance from Merck and Lilly, to the FDA Advisory Committee meeting on the safety of drug-coated stents -- it was an incredibly busy week. Some final thoughts on the stent meeting...

  • Greetings from the Gaithersburg, Maryland Hilton! That's where the FDA is holding the advisory committee meeting on the safety of drug-coated stents. For less high-profile FDA meetings this hotel and the Holiday Inn across the street (the FDA alternates between them) are just fine. But for a big meeting like this one the venue is way too small.

  • Glaxo to Buy Biotech Domantis for $450 Million Friday, 8 Dec 2006 | 4:32 AM ET

    GlaxoSmithKline has agreed to buy privately owned biotech company Domantis Ltd, a specialist in developing a new generation of antibody drugs, for 230 million pounds ($452.8 million).

  • Novartis Leukemia Drug Works for Five Years, Study Says Thursday, 7 Dec 2006 | 11:16 AM ET

    Swiss drugmaker Novartis' cancer-fighting drug Gleevec can still help treat chronic myeloid leukemia even after five years of use, a new study showed on Wednesday.

  • Diabetes and Big Pharma Thursday, 7 Dec 2006 | 11:08 AM ET

    While I'm in the car--not driving--on my way to the airport to go to the FDA Advisory Committee meeting on drug-coated stents I wanted to pass along some news from the Eli Lilly analyst meeting this morning in New York that I just left.

  • J&J, Schering-Plough Halt Drug Trial Wednesday, 6 Dec 2006 | 2:33 PM ET

    Johnson & Johnson  has  suspended enrollment in a late-stage trial of an experimental rheumatoid arthritis drug it is co-developing with Schering-Plough because of short-term logistics problems.