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Pharmaceuticals

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  • FDA approves generic versions of schizophrenia drug Tuesday, 28 Apr 2015 | 5:26 PM ET

    WASHINGTON— The Food and Drug Administration said Tuesday it has approved the first generic versions of Abilify, the blockbuster pill used to treat schizophrenia and bipolar disorder. The agency approved generic versions of the drug from four companies: Alembic Pharmaceuticals Ltd., Hetero Labs Ltd., Teva Pharmaceuticals and Torrent Pharmaceuticals Ltd....

  • Pfizer Inc., Merck& Co. and Bristol-Myers Squibb Co., which reported first-quarter results Tuesday, all derive at least half their revenue from selling products overseas. Pfizer cut its 2015 earnings-per-share forecast by a nickel, to between $1.95 and $2.05, in the face of two fierce headwinds. New York- based Pfizer said those two factors will reduce 2015...

  • NEW YORK, April 28- A federal judge dismissed claims by former Elan Corp and Wyeth shareholders accusing billionaire investor Steven A. Cohen's SAC Capital Advisors LP of violating federal racketeering law by conducting insider trading in the drugmakers' stocks. District Judge Victor Marrero in Manhattan said the civil claims brought under the Racketeer...

  • U.S. judge dismisses racketeering claims vs SAC Capital Tuesday, 28 Apr 2015 | 12:06 PM ET

    NEW YORK, April 28- A federal judge has dismissed claims by former Elan Corp and Wyeth shareholders accusing billionaire investor Steven A. Cohen's SAC Capital Advisors LP of violating federal racketeering law by having conducted insider trading in the drugmakers' stocks. District Judge Victor Marrero in Manhattan said that because SAC was not found in a...

  • Dollar hits Pfizer; Merck 'blew away' estimates Tuesday, 28 Apr 2015 | 9:04 AM ET
    Tablets of Pfizer Inc.'s Lipitor and Merck & Co.'s Zocor.

    Pfizer reported a 4 percent drop in quarterly revenue, while Merck posted earnings that topped expectations.

  • April 28- Merck& Co's shares jumped almost 5 percent after the U.S. drugmaker reported better-than-expected quarterly results and released favorable data late Monday about the safety of its Januvia diabetes drug. The second-largest U.S. drugmaker on Tuesday said it earned $953 million, or 33 cents per share, in the first quarter. That compared with $1.71...

  • Innovation driving big pharma: Pro   Tuesday, 28 Apr 2015 | 8:09 AM ET
    Innovation driving big pharma: Pro

    Seamus Fernandez, Leerink Partners, and Barbara Ryan, Clermont Partners, share their thoughts on what's driving big pharma profits.

  • Bristol-Myers post EPS, revenue beat   Tuesday, 28 Apr 2015 | 8:06 AM ET
    Bristol-Myers post EPS, revenue beat

    Seamus Fernandez, Leerink Partners, weighs in on Bristol-Myers' quarterly results.

  • Merck 'blew away the quarter': Pro   Tuesday, 28 Apr 2015 | 8:05 AM ET
    Merck 'blew away the quarter': Pro

    Seamus Fernandez, Leerink Partners, and Barbara Ryan, Clermont Partners, break down the numbers on Pfizer's "ok" quarter, and Merck's "spectacular" results.

  • April 28- U.S. drugmaker Pfizer Inc cut its full-year revenue and profit forecast, blaming a stronger dollar. Pfizer's shares were roughly unchanged at $34.62 in premarket trade on Tuesday morning. Pfizer's net profit rose to $2.38 billion, or 38 cents per share, in the latest quarter, from $2.33 billion, or 36 cents per share, a year earlier.

  • New shingles vaccine proven effective   Tuesday, 28 Apr 2015 | 7:30 AM ET
    New shingles vaccine proven effective

    CNBC's Morgan Brennan reports on a new and improved shingles vaccine.

  • Cost-cutting and sales of new drugs helped Pfizer overcome a strong dollar and patent expirations to beat Wall Street projections for the first quarter, though it cut its outlook for the year, citing the unfavorable currency exchange rates. Most major drugmakers have overcome multibillion-dollar revenue hits from the unprecedented wave of patent...

  • Merck hurdles Wall Street forecasts Tuesday, 28 Apr 2015 | 7:18 AM ET

    Drugmaker Merck& Co. easily beat Wall Street expectations, sending its shares up sharply, despite first-quarter profit plunging 44 percent. While Merck's prescription drug sales jumped 16 percent in the U.S. in the quarter, they were down sharply in the huge Europe and Japan markets and some other regions. The world's fifth-biggest drugmaker said its net...

  • All eyes on Pfizer and Merck earnings   Tuesday, 28 Apr 2015 | 5:30 AM ET
    All eyes on Pfizer and Merck earnings

    Ranjith Gopinathan, program manager of life sciences and healthcare practice at Frost & Sullivan, shares his forecasts for Pfizer and Merck earnings.

  • ImmunoGen said Friday that French drugmaker Sanofi had ended a partnership on a drug called SAR3419, or coltuximab ravtansine. RBC Capital Markets analyst Simos Simeonidis said the results are big, surprising setbacks for the company because Sanofi and ImmunoGen had considered both drugs to be promising. ImmunoGen doesn't have any approved drugs of its own,...

  • April 27- Mylan NV rejected Teva Pharmaceutical Industries Ltd's $40 billion takeover offer on Monday, saying in a scathing letter that it grossly undervalued the company and that Mylan has no interest in payment in what it termed "high-risk" Teva stock. Mylan shares fell 5.7 percent to $71.71 on Nasdaq, and Teva fell 3.8 percent to $61.93 on the New York Stock...

  • NEW YORK— U.S. stocks are closing lower as health care companies weigh on the market and investors await a flood of earnings reports. Stocks appeared headed for new highs in the morning Monday, but then drifted lower, led by declines in health care. Mylan, a maker of generic drugs, slumped nearly 6 percent, after rejecting a $40 billion buyout offer from Teva...

  • *FDA cites concerns over late-stage study design, results. April 27- U.S. Food and Drug Administration staff reviewers said an accelerated review of drugmaker Amgen Inc's skin cancer immunotherapy cannot be considered at this time, citing concerns over the design and results of a key study. T-Vec represents a new class of agent for the treatment of metastatic...

  • Mylan rejects Teva's $40.1 billion buyout offer Monday, 27 Apr 2015 | 9:58 AM ET

    NEW YORK— Mylan N.V. rejected Teva Pharmaceuticals' $40.1 billion buyout offer, saying the cash-and-stock proposal undervalues the company. Mylan is trying to buy Perrigo Co. of Ireland for about $30 billion in cash and stock, combining its own generic drug business with Perrigo's position in over-the-counter medications and other nonprescription...

  • April 27- The U.S. Food and Drug Administration should not consider an accelerated review for drugmaker Amgen Inc's marketing application for its skin cancer vaccine, FDA staff reviewers concluded in documents released on Monday. The review comes two days before a panel of FDA advisers votes on whether the treatment, a cancer-killing virus called talimogene...