Jan 28- German genetic test maker Qiagen NV said its quarterly profit slid 24 percent as U.S. sales of its human papillomavirus test declined and the dollar strengthened. Qiagen said on Wednesday that sales of its HPV test in the United States fell by a greater-than-expected 59 percent, reducing adjusted net sales by five percentage points.» Read More
Shares of Dow component Merck rare getting a nice little shot in the arm this morning on an upgrade by Dr. Tim Anderson at Sanford C. Bernstein. He's putting an "Outperform" or "Buy" rating on MRK and raising his target price three bucks to $30.
Only on a day like today when it's wall-to-wall Madoff coverage would a $47 billion deal, the second $40-billion-plus deal to be done in four days, struggle to get some airtime.
When a press release crosses the wires or pops into the inbox from a Dow component announcing positive late-stage test results on a cancer drug, you rush to get the headlines on the air as quickly as possible.
The Biotechnology Industry Organization just announced that Sir Elton will be the keynote speaker at the 2009 BIO International Convention in Atlanta, the superstar's American hometown.
On my Thomson Reuters screen I have the stock quotes of a few dozen of the biopharma companies I cover. Lately, when I glance over at it, there's been a lot of red. With today's market rally, there's a whole lotta green. And that's why the quote in red for Genentech kind of sticks out like a sore thumb.
They may have the same name, but America's oldest teenager Dick Clark and Merck's Chairman and CEO Dick Clark appear to have little else in common. One loves the camera, the other not so much.
New Jersey, where I live and work, is known as "The World's Medicine Chest" or "The Silicon Valley of Pharma."
Yeah, "Deal Or No Deal" has become a bit of a tired cliche, but I think it's totally appropriate in the context of the latest salvo in the Roche-Genentech takeover battle.
Japan and Januvia. No, it's not a country—not even a fictional one—even though it sounds like "Genovia" in "The Princess Diaries." It's a diabetes drug from Merck.
As Pfizer Chairman and CEO Jeff Kindler represents at the White House Healthcare Summit today and tries to make the industry's case against government price controls on prescription drugs, a couple of prominent industry analysts are giving him a little something to smile about.
Forget about mergers and acquisitions (M & A). Think about partnerships and acquisitions or what Leerink Swann, which specializes in healthcare stock coverage, is calling "P & A."
The morning after Genentech's big investor meeting shares of the Swiss drugmaker Roche rebounded in overseas trading and the American Despository Receipts that trade over-the-counter here in the States are following suit.
When I wasn't looking the market value of biotech giant DNA surpassed the market cap of the world's biggest drug company, Pfizer.
I'm not sure why Genentech isn't responding to Roche's media campaign. Maybe the company's and executives' lawyers are telling them to publicly keep their mouths shut outside of formal presentations like Monday's meeting. Or maybe, for whatever reason, they're decidedly taking a hardline "no media" stance and letting their press releases and SEC filings do all the talkin'.
Even though nearly every analyst this morning is saying Thursday's bloodbath was an overreaction, investors are continuing to sell biopharma stocks in the early going Friday.
Today was really ugly for biotech. The only large-cap sector stock to trade higher--and significantly--was Genentech because it's being bolstered by Roche's bond sale and increasing speculation the Swiss drugmaker is gonna have to raise its bid for DNA.
Recently, there've been scattered media reports about some drugs polluting India's slum water in alarming concentrations, according to some experts. Separately, yesterday, the U.S. Food and Drug Administration announced it's keeping India generic drugmaker Ranbaxy in the penalty box while it continues looking into whether the company fudged some data.
September 1996. I was in the middle of my nearly 10-year stint at WXYZ-TV in Detroit. And shares of Dow component Pfizer closed at $12.90. February 2009. This year will mark my ninth anniversary (man, time flies) at CNBC. And today PFE hit a new intra-day low of $12.90.
Big pharma has to change the way it sells drugs. That's the conclusion of a new PricewaterhouseCoopers report about what the industry will look like in 2020, which calls the big pharma sales model "increasingly ineffective."
This morning the world's biggest pharmaceutical firm announced that it's scrapping two more drugs that were in late-stage studies.