Merck reported lower sales, just below Wall Street estimates, hurt by competition from cheaper generic medicines.» Read More
The diversified health-care company earned $2.17 billion, or 74 cents a share in the fourth quarter, compared with $2.1 billion, or 70 cents, a year earlier.
Genentech, a maker of medical biotechnology products, reported earnings of 61 cents a share for the fourth quarter, better than analysts estimates of 56 cents.
You’ll find some of the most influential figures in modern healthcare in San Francisco today, gathered together for the 25th Annual J.P. Morgan Healthcare Conference. This year, 6500 people are attending, including CNBC’s Mike Huckman who is sifting through volumes of data. In a "First on CNBC," Huckman spoke with James Sabry, M.D./Ph. D., the CEO of Cytokinetics.
Stocks closed higher after another volatile day as gains in technology stocks and a huge drop in oil prices boosted the major averages.
Amgen and Cytokinetics announced a collaboration to develop heart failure drugs that could yield smaller Cytokinetics more than $600 million depending on development success.