WASHINGTON— The Food and Drug Administration said Tuesday it approved a new injectable drug from GlaxoSmithKline plc for adults with Type 2 diabetes. The FDA said it approved the new drug based on eight trials including more than 2,000 patients.» Read More
This St. Patrick's Day morning several analysts are out with their official takes on Genentech's investor meeting last Friday and of the half dozen or so I've seen so far, I'd say the reaction is definitely mixed. I also wanted to throw in a few more notable quotables from CEO Art Levinson at the Friday presentation.
So guess which analyst happened to be selected first to query Genentech management at the start of the Q and A portion of the biotech company's analyst meeting? Yep. Mark Schoenebaum from Bear Stearns.
Amgen, the world's biggest biotech company in terms of sales (Genentech dwarfs Amgen in market cap: $86 billion vs. $51 billion) and Dow component Johnson & Johnson avoided a worst-case scenario this afternoon.
Last year Genentech shares traded as high as nearly 88 dollars, but ended 2007 around 67 bucks. But according to the company's new proxy statement all of Genentech's top-tier executives saw their total compensation go up.
Ahead of the big FDA Advisory Committee meeting tomorrow, Amgen held a quick conference call with some reporters this afternoon. The outside panel of experts will be deciding whether to recommend putting more restrictions on the use of the blockbuster drugs used to fight anemia in cancer patients getting chemo. For Johnson and Johnson and especially Amgen, the stakes are high.
Everyone's favorite small-cap biotech put out a press release this morning, announcing that the Food and Drug Administration has agreed to change the Special Protocol Assessment (SPA) for Dendreon's Provenge.
Shares of biotech giant Amgen fell as low as $43.14 (a new bottom) this morning after the briefing documents for Thursday's Food and Drug Administration Advisory Committee meeting were posted on the agency's website.
Billionaire Alfred Mann must not have liked watching stock in the company bearing his name fall to another new low today in the wake of Eli Lilly giving up on inhaled insulin.
This is a big week for the world's top-two biotechnology companies and their investors. Amgen goes before an FDA Advisory Committee Thursday about the side effects of its bread-and-butter franchise Aranesp.
First, Pfizer gave up on its inhaled insulin Exubera, then NovoNordisk threw in the towel and now it looks like Lilly is going to bow out. Alkermes, which is working on a palm-sized product called, "AIR Insulin," put out a press release today saying it expects its partner on the device, Lilly, to decide next week that it will exit the deal. ALKS shares hit a new low on the news.
I thought I was finished with the post-Pfizer analyst meeting reaction with yesterday's post, but when an extraordinarily bearish 77-page research note from Credit Suisse big pharma analyst Catherine Arnold arrived in my inbox this morning, I had to do one more installment. She thinks Pfizer should buy Wyeth or Amgen...
Pfizer held its analyst day yesterday and the stock closed at a new multi-year low. This morning the shares are under a little bit of pressure again as analyst reaction to the event pours in.
When I got back from the Pfizer analyst meeting in New York City this afternoon, I found a treasure trove of PDF documents in one of my inboxes from a couple of Dendreon/Provenge proponents from their Freedom of Information Act request to the Food and Drug Administration...
I'm in the press room at the midtown Manhattan hotel where Pfizer is holding its analyst meeting. There's just over half a dozen reporters here and we're nearly outnumbered by PR folks. As one of them remarked, the press turnout for an event like this just isn't what it used to be...
Embargoes imposed by scientific groups and medical journals will once again be put to the test over the next couple of months.
The day before Pfizer's analyst meeting tomorrow investors are not showing much love for the beaten-down Dow component. PFE's trading in the early going today at its lowest level since December 2005.
On the eve of the make-or-break Texas-Ohio primaries for Sen. Hillary Clinton, she remains in first place in at least one "poll." The Center for Responsive Politics has updated its list of top pharmaceuticals/health products-industry money recipients based on the most recent campaign finance reports and the former First Lady edges out Sen. Barack Obama...
When Schering-Plough Chairman and CEO Fred Hassan recently decided to buy another $2 million worth of SGP shares in the wake of the Vytorin study takedown, the company put out a press release.
Recently I've blogged and raised the question in an interview about whether Onyx Pharmaceuticals might be having a tough time finding a new leader. Well, nearly six months since longtime Chairman and CEO Hollings Renton announced his plans to retire this year, the biotech company has filled the spot.
I often get pitched by PR people who want me to do a story on their micro-cap biotech company. And I almost always turn them down. I know that most of the sector toils in the eight and nine digit market value space and that there's a bit of a Catch-22 at work.