Jobless Claims Get Better, but Remain at High Level
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CHICAGO, May 23- Kathrin Jansen is a microbiologist with at least two breakthrough vaccines to her name: she brought the cervical cancer vaccine Gardasil to market for Merck and helped develop the $4 billion a year pneumonia and meningitis vaccine Prevnar 13 for Pfizer.
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*FDA panel says suvorexant safe, effective at lower doses. On Monday, the FDA's internal reviewers published a report expressing concern about suvorexant's potential to cause next-day sleepiness and impaired driving.
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NEW YORK-- Shares of Regeneron Pharmaceuticals Inc. edged higher on Wednesday on positive clinical trial data for an experimental asthma drug. THE SPARK: The New England Journal of Medicine's website on Tuesday published the results of a study of the asthma treatment dupilumab, which Regeneron is developing with French drugmaker Sanofi.
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NEW YORK, May 22- Little known biotechnology company Merrimack Pharmaceuticals Inc has quietly built a large pipeline of experimental cancer treatments that it aims to deliver at a fraction of the cost spent by larger rivals. Medicare system contending with new cancer treatments that can exceed $100,000 per patient.
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TRENTON, N.J.-- Drugmaker Pfizer Inc. plans to try to sell its controlling stake in its former animal health business, Zoetis Inc., through a voluntary stock exchange with Pfizer shareholders.
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"The market for biotech isn't screaming hot, and it's not like everyone can get deals done, but we're seeing attractive returns being generated," said Bob Carey, a managing director at JMP Securities who works with biotech companies. "
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Bristol-Myers Squibb could be a big winner with a portfolio of cancer treatments under development that use a patient's own immune system to attack the disease, according to a Citi, which raised its rating on the drugmaker.
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May 22- Pfizer Inc said on Wednesday that it would unwind its remaining stake in animal health business Zoetis Inc through an exchange offer in which shareholders can swap Pfizer stock for that of Zoetis at a discount. Giant pharmaceutical maker Pfizer spun off Zoetis shares in an initial public offering in February that raised $2.2 billion.
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Merck inked a $5 billion share repurchase agreement with Goldman Sachs, as the drug giant looks to prop up shareholder value in face of competition from generics makers.
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*Potential sales of $35 bln a year over next 10 years- Citigroup. That bullish sales forecast by analysts at U.S. bank Citigroup highlights the growing excitement surrounding so-called immunotherapy after positive results from clinical trials conducted by companies such as Bristol-Myers Squibb and Roche Holding.
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In a story May 20 about Pfizer Inc. halting a cancer drug study, The Associated Press erroneously reported the uses of two of the drugmaker's existing cancer medicines. Bosulif is approved for use in certain patients with chronic myelogenous leukemia and Inlyta is for advanced kidney cancer.
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WESTON, Mass.-- Specialty drugmaker Biogen Idec said Tuesday it submitted a new injectable multiple sclerosis drug to the Food and Drug Administration for U.S. market approval. The company also plans to submit the drug to the European Medicines Agency in coming weeks. Shares of Biogen Idec Inc. rose $6.15, or 2.7 percent, to close Tuesday at $231.33.
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REDWOOD CITY, Calif.-- Shares of AcelRx Pharmaceuticals Inc. hit an all-time high price Tuesday, after the specialty drugmaker said its NanoTab pain treatment system met its main goal in late-stage research, and the company is preparing to submit it to regulators for approval.
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The revenue hit faced by Cubist Pharmaceuticals from generic competition may not be as dramatic as it has been for other drugs, Cantor Fitzgerald said Tuesday, as it raised its rating on the drugmaker.
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SAN FRANCISCO, May 21- Amazon.com Inc has been given a security clearance by the U.S. government that will make it easier for federal agencies to use its cloud computing services. The accreditation covers all AWS data centers in the United States, the company said on Tuesday.
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Drugmaker Pfizer Inc. has halted a late-stage study of an experimental cancer compound being tested in patients with a certain form of non-Hodgkin's lymphoma, because an interim analysis showed the drug wasn't helping patients live longer.
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The ASCO meeting scheduled to begin on May 31st could generate a cornucopia of health care catalysts, said Jim Cramer.
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The LA Times is reporting former Navy Secretary Richard J. Danzig urged the government to counter what he called a major threat to national security, with CNBC's Hampton Pearson.
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May 20- Merck& Co's experimental insomnia drug suvorexant appears generally effective, according to reviewers at the U.S. Food and Drug Administration, but they questioned the company's proposed dosing levels.
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May 20- Generic drugmaker Actavis Inc, which has been the subject of intense takeover speculation, said on Monday that it had struck a deal to buy specialty pharmaceuticals company Warner Chilcott Plc for $8.5 billion in stock.