LOS ANGELES, Sept 12- The next generation version of Gilead Sciences Inc's $84,000 hepatitis C drug, already under fire for its record-breaking costs, is going to be even more expensive.» Read More
The current issue (February 18, 2008) of New York Magazine has a story that it teases on the cover above the masthead, "No Smoking Wonder Drug." Below it in drug-label fine print the sub-head is: "Makes quitter talk to potted plants."
Schering-Plough is bringing up the rear of big pharma earnings season this morning--it reported later than normal because it apparently took longer to do all the accounting for a big acquisition--with a beat on the top and bottom line. But investors, as is usually the case, are more concerned about guidance.
Shares of Allergan are taking a big hit today after the Food and Drug Administration announced it's putting out an "Early Communication" (Translation: We're reviewing some reports of adverse events, but in the meantime, doctors and patients should be vigilant) regarding potentially fatal side effects of the popular muscle relaxant Botox.
Shares of GlaxoSmithKline this morning are getting hammered because the company announced it expects earnings per share to fall by a mid-single digit percentage this year. Analysts thought they'd grow by three percent.
Reaction to part of a big government-sponsored diabetes drug study being halted over fatalities is pouring in from several corners. The American Diabetes Association put out a press release saying it "strongly encourages people with diabetes not to alter their course of treatment without first consulting with their health care team...
I'm blogging a little later than usual because I got sidetracked by the breaking news on the government stopping part of a big diabetes drug study over safety concerns--more people died in a group that was being intensively treated to get their blood sugar levels below current recommendations.
Yes, it was a big down day for equities, but I wanted to call attention to the fact that according to one of our resident stock gurus, Robert Hum, the Amex Pharmaceutical Index (you can see the 15 stocks that make up the so-called DRG here) closed at a two-year low today.
Sales of drug-coated stents, Boston Scientific's most profitable products, came in at the low end of the company's guidance in the fourth quarter. Stents are the fragile little wire mesh cylinders that act like scaffolding to prop open clogged arteries.
The Food and Drug Administration continues to get a lot of attention and scrutiny. In an editorial over the weekend "The New York Times" wrote, "The F.D.A. desperately needs an infusion of money and talent." Then, "USA Today" today is running a front-page article on something I recently blogged about and other reporters tackled a few weeks ago regarding the agency approving so few drugs last year.
Pfizer tried to get out in front of the psychiatric side-effect issues on its stop-smoking drug by adding information about behavioral changes, mood swings, thoughts of suicide, etc. to the label last month.
It's a new month. Time to clean out the inbox. Regarding my post earlier this week about Sen. Chuck Grassley's office breaking the "Nature" embargo on the leak of the GlaxoSmithKline Avandia study, I heard from the "Nature" article reporter.
I just got off the phone with the Chief Operating Officer of PR Newswire, Dave Armon, who says the discrepancy between the two Bristol-Myers Squibb earnings press releases I've been blogging about was due to an information technology glitch at PR Newswire.
This morning on "Squawk on the Street" I did a pharma earnings round-up report and I topped it by saying the sector could remain under pressure today because two major American drug companies--Bristol-Myers Squibb and Wyeth-- missed earnings expectations and lowered their 2008 guidance.
At 1 pm ET today the embargo was supposed to lift on an article in the scientific journal "Nature" that we got advanced word on early this morning. We were set to post the write-through about it at that time on our web site.
Dow component Merck beat the Street with fourth quarter results on earnings per share (revenue was a sliver below the analyst consensus) and reaffirmed its earnings guidance for this year. Maybe the beaten-down stock is falling victim to another pre-Fed interest rate decision market downdraft...
"Dendreonians" were hoping the Provenge controversy might come up for discussion at the House Energy and Commerce Committee's Subcommittee on Oversight and Investigations hearing today.
Direct-to-consumer pharmaceutical advertising is everywhere in American media because it works. Generally speaking, it drives patients to ask/tell their doctors to prescribe a particular medication.
In what I would describe as a pretty extraordinary filing with the Securities and Exchange Commission, Schering-Plough is putting in black and white the date and time that senior level executives were informed about the results of the controversial ENHANCE study of the cholesterol drug Vytorin.
Friday I blogged about the most audacious press release I've received in a long time from a small biomed company called GenoMed. The company's Chairman and CEO, Dr. David Moskowitz, claims Heath Ledger probably died due to complications from the flu--likening it to Anna Nicole Smith's death--and GenoMed had the means to save him.
A $4 billion company I've never covered before, Inverness Medical Innovations, is making news this morning with a $900 million acquisition of another company I've never covered--Matria Healthcare, Inc. But that's not why I'm blogging about Inverness.