US stocks decline amid jitters over China; Energy stocks and home builders drop US existing home sales drop 1.8 percent in August; slowdown in investors buying homes Siemens to acquire oilfield equipment maker Dresser-Rand for $7.6 billion German pharmaceutical company Merck to buy St Louis-based maker of chemicals for $17 billion Retailer Tesco suspends 4 execs, launches accounting investigation over inflated profit report Apple says it sold 10 million new iPhone 6, 6 Plus models in first weekend after launch GM expert says 21 deaths in ignition switch crashes are eligible for compensation Clorox out of Venezuela, citing govt restrictions, supply problems and economic uncertainty Alibaba shares slip 4 percent in 2nd day of being publicly traded In pitch to small businesses, UPS says it will put 3- D printers in nearly 100 more stores» Read More
Could room-temperature Byetta heat up sales? Amylin Pharmaceuticals and Eli Lilly announced that the FDA says their diabetes drug Byetta (pronounced buy-ate-uh) doesn't have to be kept in the fridge anymore. Byetta is the twice-a-day stick-pen injectable drug that helps people lower their blood sugar and lose weight
Swiss pharmaceutical giant Novartis' plans to launch diabetes treatment Galvus may be dealt a blow by the Food and Drug Administration at the end of the month, market sources told CNBC Europe.
Merck said Chief Financial Officer Judy Lewent, 58, plans to retire in July after 17 years in the post.
British pharmaceutical company Shire, which makes ADHD drug Adderall XR, said Tuesday it is buying U.S. drug maker New River Pharmaceuticals for approximately $2.6 billion, or $64 per share in cash.
Elan reported a smaller fourth-quarter loss and higher sales Tuesday, citing the expansion of its multiple sclerosis-fighting drug Tysabri as a major factor.
Onyx Pharmaceuticals is up big for the second day in a row. The stock nearly doubled yesterday on astronomical volume of 56,000,000 shares and today as I write this it's up almost 8% with more than 18,000,000 shares changing hands. So, what's up besides the stock?
Sanofi-Aventis posted higher-than-expected fourth-quarter current operating profit, despite healthcare savings in Europe as well as generic rivalry, and the drugmaker predicted more growth for 2007.
Cytyc's $24-a-share offer represents a 55% premium over the $15.53 closing price of Adeza's shares Friday on the Nasdaq Stock Market.
Shares of Onyx Pharmaceuticals soared Monday after it and its partner Bayer reported positive results from the final trial of a treatment for advanced liver cancer, paving the way for approval of the drug.
Bristol-Myers shares have run up strongly in the past two weeks on talk of a Sanofi bid, closing at $28.52 on Friday to value Bristol-Myers at more than $56 billion.
GlaxoSmithKline has won FDA approval to sell the formerly prescription-only diet drug Xenical over-the-counter. The drug can help people lose, on average, about six pounds. It'll be called "Alli" (pronounced like "ally"). GSK will split the profits with Roche, which owns prescription Xenical. ... An analyst says Alli could have peak sales of $100 million to $300 million, which would be a blockbuster by OTC-drug standards.
GlaxoSmithKline, Europe's biggest drug maker, reported a 16% rise in annual profit Thursday, in line with expectations of analysts polled by Reuters. But the company said 2007 growth would slow as it awaits pipeline renewal.
Roche reported today that it sold $2.1 billion worth of Tamiflu last year (a 68% increase). Tamiflu is the antiviral that you take shortly after you feel like you've got the flu or as a prophylactic if someone literally close to you has it. But the main driver behind the sales spike last year was government stockpiling of the drug in case of a pandemic.
Net profit at Roche Holding rose 34% to 9.17 billion Swiss francs ($7.33 billion) in 2006 due to strong sales of cancer treatments Herceptin and Avastin, just ahead of analysts' expectations.
Bird flu returned to the headlines recently as 159,000 turkeys were slaughtered in a Suffolk, U.K. farm in a confirmed avian influenza (H5N1) outbreak.
The Governor of Texas announced on Friday that all girls entering the sixth grade in his state must get Merck's new vaccine, Gardasil, before they can enroll. Gardasil prevents four strains of the sexually-transmitted disease known as HPV which is the leading cause of cervical cancer. It works best when given before becoming sexually active. But the political and social backlash has already begun.
Bayer MaterialSience AG will increase its capacity at a planned facility in Shanghai, investing around $1.8 billion (1.4 billion euros) in the plant, the company said Tuesday.
Gov. Rick Perry of Texas recently ordered that all girls entering the sixth grade in that state be vaccinated against cervical cancer. The mandate has become a source of controversy from more than one angle. Does a governor have the right to make such an order? Is the vaccine safe? Could it promote sexual promiscuity? What role does Merck – the company that developed and produces the vaccine – play in all this?
When Pfizer announced its deeper cost cuts last week, including a total of about 10,000 layoffs, analysts said other big drug companies that had not already started restructuring would use the industry giant as the model. Sure enough, today AstraZeneca said it will get rid of 3,000 employees (5% of its workforce) over the next few years. Also: Gilead shares at record high.
Wyeth said Judge Caroline E. Baker of the Harris County District Court in Houston granted its motion for summary judgment and dismissed the case of Brockert v. Wyeth, which was to have begun trial on Monday.