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Pharmaceuticals

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  • AP Top Extended Financial Headlines At 3:06 a.m. EDT Thursday, 24 Jul 2014 | 3:06 AM ET

    Swiss drug maker Roche posts 7 percent profit drop amid strong franc, diagnostic charges European carriers suspend more Tel Aviv flights amid ongoing safety concerns Chairman of US meat supplier apologizes for China subsidiary at center of food scandal Facebook on a roll as 2nd- quarter earnings, revenue surpass expectations $300 million later, Social Security trying to salvage computer system that doesn't work Standard& Poor's 500 index ekes out all-time high after Apple and Boeing report earnings Still-slow rebound belies a sturdier economy with less consumer debt and more educated workers Hyundai Motor's 2 Q profit dips due to strong South Korean won China factory activity at 18- month high as mini-stimulus for No. 2 economy takes effect IMF sees US growth this year at weakest pace since recession after sharp 1 Q contraction

  • AP Top Extended Financial Headlines At 2:07 a.m. EDT Thursday, 24 Jul 2014 | 2:07 AM ET

    Swiss drug maker Roche posts 7 percent profit drop amid strong franc, diagnostic charges European carriers suspend more Tel Aviv flights amid ongoing safety concerns Chairman of US meat supplier apologizes for China subsidiary at center of food scandal Facebook on a roll as 2nd- quarter earnings, revenue surpass expectations Standard& Poor's 500 index ekes out all-time high after Apple and Boeing report earnings Still-slow rebound belies a sturdier economy with less consumer debt and more educated workers Hyundai Motor's 2 Q profit dips due to strong South Korean won China factory activity at 18- month high as mini-stimulus for No. 2 economy takes effect IMF sees US growth this year at weakest pace since recession after sharp 1 Q contraction South Korea unveils stimulus plans as shock of ferry sinking slows growth

  • Swiss drug maker Roche posts 7 percent profit drop Thursday, 24 Jul 2014 | 2:07 AM ET

    GENEVA— Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units. The Basel, Switzerland- based company said its first-half sales were 22.974 billion francs, down 1 percent from 23.295 billion francs from a year ago.

  • However, the report from the Generic Pharmaceutical Association said REMS have been used to prevent generic drugmakers from getting branded medicine to test their own versions, which is required to win FDA approval.

  • LONDON, July 23- Britain's fraud office is working with authorities in China in a first for such Anglo-Chinese cooperation as it carries out its own investigation into alleged corruption at drugmaker GlaxoSmithKline.

  • US drug laws cost consumers billions: Report Wednesday, 23 Jul 2014 | 11:51 AM ET

    U.S. generic drug rules have been manipulated by brand-name drug companies to keep cheaper competition off the market, a report says.

  • LONDON, July 23- GlaxoSmithKline cut its 2014 earnings outlook after sales fell by a worse-than-expected 13 percent in the second quarter as its all-important lung drugs struggled in the United States and a strong pound took a bite out of growth.

  • Protections set up by the U.S. Food and Drug Administration called "risk evaluation and mitigation strategies", which can curb distribution of dangerous medicines, have been used to prevent generic drugmakers from getting the drugs in order to test their own versions, which is required to win FDA approval, the report from the Generic Pharmaceutical Association said.

  • GSK cuts earnings forecast after weak 2nd quarter Wednesday, 23 Jul 2014 | 9:28 AM ET

    LONDON— Drug maker GlaxoSmithKline has cut its full-year earnings expectations as it says its second-quarter profits were hit by currency moves and a fall in sales of its respiratory drugs. The company said Wednesday it expects 2014 earnings per share to be broadly similar to last year.

  • UPDATE 2-GSK warns on profits as weak lung drug sales hit Wednesday, 23 Jul 2014 | 9:12 AM ET

    LONDON, July 23- GlaxoSmithKline cut its 2014 earnings outlook after sales fell by a worse-than-expected 13 percent in the second quarter as its all-important lung drugs struggled in the United States and a strong pound took a bite out of growth.

  • Shire to spend about $225M on drug collaboration Wednesday, 23 Jul 2014 | 8:44 AM ET

    The drugmaker Shire plans to spend about $225 million in a joint effort with a privately held, U.S. firm to develop a potential treatment for the rare and life-threatening genetic disorder Hunter syndrome.

  • Ackman goes after Herbalife's nutrition clubs Tuesday, 22 Jul 2014 | 4:00 PM ET

    NEW YORK— Activist investor Bill Ackman fired his latest salvo at the weight loss and nutritional supplements company Herbalife on Tuesday, alleging that one of the business models used by its distributors is evidence that the company operates as an illegal pyramid scheme.

  • Teary Ackman on HLF: Time to shut the company down Tuesday, 22 Jul 2014 | 2:40 PM ET

    Bill Ackman fired his latest shot at Herbalife Tuesday, but the company's stock mostly rose during the investor's presentation.

  • LONDON/ MUMBAI, July 22- Indian generics firm Lupin, some U.S. drugmakers looking for a tax-saving deal in Europe and private equity funds are planning to bid for a range of older drugs being auctioned by GlaxoSmithKline, five sources familiar with the matter said.

  • Ackman says Valeant-Allergan deal looks closer-CNBC Monday, 21 Jul 2014 | 1:11 PM ET

    July 21- Investor William Ackman, who owns nearly 10 percent of Botox maker Allergan Inc, said on Monday that the likelihood of Valeant Pharmaceuticals International Inc succeeding in its hostile takeover for Allergan increased on Monday.

  • Allergan to cut 1,500 employees in restructuring Monday, 21 Jul 2014 | 8:44 AM ET

    Botox maker Allergan will cut about 13 percent of its workforce as part of a push to become more efficient while it fights a hostile takeover bid from Valeant Pharmaceuticals. Allergan Inc. has rejected several takeover attempts from Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman's Pershing Square Capital Management.

  • Valeant complains to regulators about Allergan Monday, 21 Jul 2014 | 7:07 AM ET
    Michael Pearson, CEO of Valeant Pharmaceuticals.

    Valeant has complained to regulators that claims made by Allergan to counter a hostile takeover are misleading, sources have told CNBC.

  • FedEx indictment shouldn't hurt shares, pro says Friday, 18 Jul 2014 | 4:41 PM ET
    A FedEx logo on a delivery truck

    FedEx's indictment for shipping packages from illegal online pharmacies isn't hurting shares, which makes sense to one analyst.

  • July 18- Valeant Pharmaceuticals Inc moved on Friday to blunt a key criticism by takeover target Allergan Inc of its Bausch+ Lomb business by releasing data showing strong sales growth.

  • July 18- Valeant Pharmaceuticals Inc moved on Friday to blunt a key criticism by takeover target Allergan Inc of its Bausch+ Lomb business by releasing data showing strong sales growth.