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Schering-Plough beat the Street by a surprising 16 cents per share and the beaten-down shares are rallying. In an exclusive CNBC interview Wednesday morning, Chairman and CEO Fred Hassan explained how the company was able to blow away estimates...
This halftime report is not brought to you by (pick your prescription drug). So, we're pretty much at the midway point of big pharma's earnings season and Goldman Sachs analyst James Kelly is sizing things up so far...
I usually cover pharma earnings from my desk at CNBC HQ in Englewood Cliffs, NJ. But because Merck made a rare offer to interview its Chairman and CEO Dick Clark exclusively this morning I'm out at Merck's idyllic HQ campus in central NJ.
The irreverent producers of "Squawk on the Street" who are stationed in the pod next to mine here at CNBC like to call it "Pharmapalooza." They're referring to weeks like the one coming up when nearly every big drug company reports earnings.
The world's biggest drug company kicked off pureplay pharma earnings season this morning with disappointing results that look to be dragging down the whole sector. PFE missed Wall Street expectations on revenue and profits.
The world's biggest pharma company is stepping up to the plate again. After the closing bell today PFE announced it's doing a deal worth up to $440 million over time with a baby biotech called Avant Immunotherapeutics.
After navigating what has to be one of the most frustrating paths to Food and Drug Administration approval of a new drug, the small biopharma company Pozen and its big pharma partner GlaxoSmithKline have finally emerged victorious.
It's not Carl Icahn. Earlier this month I blogged about a mysterious institutional investor taking a big stake in the ever-popular biotech Dendreon. DNDN's CFO was quoted as saying the secret admirer was familiar with biotech leading some to speculate it might be the billionaire activist investor who has taken stakes in Biogen-Idec, MedImmune and ImClone, just to name a few.
This morning there's a plethora of stuff to blog about: the Takeda-Millennium deal, more commentary about Merck and Schering-Plough and the extent of the Vytorin/Zetia fallout, Genentech's biotech bellweather earnings after the closing bell today, just to name a few.
CNBC and other media outlets have done a significant amount of reporting on cardiologists' reaction to the Vytorin/Zetia study and the effect the ACC panel's opinion might have on the heart doctors' prescription writing.
This morning a little biotech company, Antigenics, announced that Russia has approved its kidney cancer drug Oncophage. It's the first so-called therapeutic cancer vaccine to win full-out approval anywhere in the world.
The Star-Ledger of New Jersey this weekend did a story that I think provides the best insight and backstory about what happened last week at the highest levels of Schering-Plough.CEO Fred Hassan was in Miami when doctors dropped the bomb on Vytorin and Zetia at the American College of Cardiology meeting.
This week started out with Merck shares suffering their worst loss since the day the drugmaker recalled Vioxx and Schering-Plough shares posting their worst one-day decline ever. But yesterday, SGP had its biggest percentage gain in eight years and today it's finishing the week as the sector's biggest percentage gainer.
Last night while on the elliptical and watching "NBC Nightly News," one spot amid the wall-to-wall commercials for drugs caught my attention. It looks like after 10 years since the first erectile dysfunction pill came on the market--Pfizer's Viagra celebrated a decade since winning FDA approval last week--the makers of Levitra are trying a new marketing tack.
Investors seem to be shrugging off another setback for drug giant Pfizer. Late yesterday the company announced it's stopping a late-stage clinical trial for a skin cancer drug because it looks like it doesn't work better than chemo.
Given investor reaction to the Vytorin/Zetia news yesterday, you might draw the conclusion the huge cholesterol drug franchise might be doomed. Sure, analysts say, prescriptions and sales are gonna go down some more, but they're not going to zero.
Yoda made an appearance at the American College of Cardiology (ACC) conference here in Chicago on Sunday. At the end of his speech in the opening session, the outgoing president of the organization played a "Star Wars" clip with the sage saying, "Try not. Do or do not. There is no try." He was trying to make a point about the ACC's role in forging healthcare reform.
I don't know how I missed this one, but the Wall Street Journal's Health Blog didn't forget that this week that Pfizer and, perhaps, some men and women are celebrating the tenth birthday of Viagra. So, happy birthday little blue pill.
Ahead of the world's biggest gathering of cardiologists in Chicago this weekend, there's a flurry of news about stents--the expensive little wire mesh tubes that prop open clogged arteries. First, the Food and Drug Administration has posted new proposed guidelines for pre-and post-market testing of the controversial devices.
This morning, Bear Stearns biotech analyst Mark Schoenebaum and a couple of members of his research team hosted a conference call with a 50-page PowerPoint about Amgen. The purpose was to drill down into the looming court decision over whether Roche will be able to launch a competing anemia drug in the U.S. for kidney dialysis patients.