Merck reported lower sales, just below Wall Street estimates, hurt by competition from cheaper generic medicines.» Read More
But use of Merck& Co's widely prescribed Zetia, which is not a statin, and Vytorin, a related drug, will likely not be badly hurt anytime soon, analysts said, because doctors will need time to understand and accept the new guidelines. The Merck drugs have combined annual sales of more than $4 billion, or 10 percent of overall company revenue.
Pfizer Inc, Amgen Inc and a partnership of Regeneron Inc and French drugmaker Sanofi SA are racing to develop the new family of medicines called PCSK9 inhibitors. "I read the new guidelines as a negative for any drugs that aren't statins, including PCSK9 inhibitors," said Jon LeCroy, an analyst with MKM Partners.
LONDON, Nov 11- Cardiologists and shareholders in GlaxoSmithKline are about to learn if a big gamble on a new kind of heart medicine has paid off, with modest expectations creating a potentially big share price boost if the news is good.
*Grifols shares up 2.3 percent, Novartis adds 0.5 percent. ZURICH/ MADRID, Nov 11- Switzerland's Novartis has agreed to sell its blood transfusion testing unit to Spain's Grifols for $1.68 billion, in an increasingly buoyant market for healthcare deals.
ZURICH/ MADRID, Nov 11- Switzerland's Novartis has agreed to sell its blood transfusion diagnostics unit to Spain's Grifols for $1.68 billion, in an increasingly buoyant market for pharmaceutical mergers and acquisitions.
Nov 5- Keryx Biopharmaceuticals Inc's kidney drug proved effective in treating chronic kidney disease patients not on dialysis, sending the company's shares to a seven-year high on hopes the drug could achieve blockbuster status. "This is great news that opens up the pre-dialysis market for the company," Maxim Group analyst Jason Kolbert told Reuters.
The "Fast Money" traders share their final trades of the day.
Oct 24- Celgene Corp raised its earnings forecast for 2013 on Thursday after reporting slightly higher-than-expected quarterly profit on robust sales of its flagship blood cancer drug Revlimid and solid growth in newer cancer treatments.
Some of the names on the move ahead of the open.
Oct 22- Amgen Inc, which this month closed a nearly $10 billion acquisition of cancer drug maker Onyx Pharmaceuticals, reported higher-than-expected, third-quarter profit as results were helped by a large U.S. government order for one of its white blood cell boosters.
Stocks recovered from session lows to close higher Tuesday, with the S&P 500 hitting a new high above 1,750, after the tepid September jobs report gave further evidence to investors that the Federal Reserve will continue to support the economy at the current pace.
Check out which companies are making headlines after the bell Tuesday:
*Netflix shares extend gains on strong earnings, more subscribers. NEW YORK, Oct 22- U.S. stocks were set to open higher on Tuesday after weaker-than-expected job creation last month raised expectations that the Federal Reserve will continue to stimulate the economy at the current pace into 2014..
U.S. stock index futures tread water on Tuesday, ahead of the publication of the government's delayed non-farm payrolls data for September.
*Netflix shares extend gains on strong earnings, more subscribers. NEW YORK, Oct 22- U.S. stock index futures were little changed on Tuesday amid caution before the government's September payrolls report, which was delayed by the government shutdown.
*Netflix shares rally premarket a day after earnings. *Netflix shares rose 11.3 percent in premarket trading a day after it said it added 1.3 million U.S. streaming customers in September. Netflix's third quarter net income reached $32 million, up from $8 million a year earlier.
Corporate America's third quarter report card is not great, but it's good enough to keep stocks moving higher.
It was a "Who's Who" of guests on "Squawk Box"—everybody from Buffett to Bowles, Tepper to Cooperman, and McCain to Corker. "Talking Squawk," the official show blog, covers them all.
NEW YORK/ PARIS, Oct 16- A new type of cholesterol drug from Regeneron Pharmaceuticals Inc and Sanofi SA, when used by itself, cut levels of "bad" LDL cholesterol almost in half in the first of a dozen late-stage trials of the medicine.
Oct 9- A high dose of Pfizer Inc's drug, tofacitinib, proved as effective as the widely used treatment, Enbrel, in treating adults with moderate-to-severe psoriasis in a late-stage study, while a lower dose of tofacitinib was less effective than Enbrel, the drugmaker said on Wednesday.