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The findings on Aranesp and colon cancer treatment Vectibix were released late on Thursday, as the world's largest biotechnology company reported a marginal increase in fourth-quarter profit.
Wall Street is undecided so far on where it will start the day though early earnings news and housing data could help set the tone. For now, eBay's strong profits and big stock move is a bright spot lifting the Nasdaq, which bounced higher on a tech rebound yesterday. The Dow, fresh off its 26th high since October, is flattish.
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.