Some of the names on the move ahead of the open.» Read More
After the closing bell yesterday, Merck announced that it plans to get rid of 12-hundred or around 15 percent of its sales reps. Like Schering-Plough, the company is having to adjust to lower sales of its Vytorin and Zetia cholesterol drugs and on top of that the Food and Drug...
The morning after Amgen reported its first quarter earnings my inbox runneth over with analyst research reports on the biotech behemoth. The company beat the Street by eight cents a share. But the focus remains on the anemia drug franchise.
Amgen Inc., the world's largest biotechnology company, reported earnings of $1.12 per share on first-quarter revenues of $3.6 billion on Thursday, beating most Wall Street expectations on cost-cutting measures.
The irreverent producers of "Squawk on the Street" who are stationed in the pod next to mine here at CNBC like to call it "Pharmapalooza." They're referring to weeks like the one coming up when nearly every big drug company reports earnings.
Dow component and healthcare conglomerate (drugs, consumer products, medical devices) Johnson & Johnson beat and boosted. That's Wall Street jargon for earnings coming in higher than expectations and the guidance for the rest of the year being raised. So, why did the stock go down?
Following are the day’s biggest winners and losers. Find out why shares of Amgen and Home Depot popped while Rite Aid and First Marblehead dropped.
Genentech stock is on a tear this year and analysts are expecting double-digit sales growth for most of the biotech's key drugs this quarter. Can Genentech keep it up?
The Star-Ledger of New Jersey this weekend did a story that I think provides the best insight and backstory about what happened last week at the highest levels of Schering-Plough.CEO Fred Hassan was in Miami when doctors dropped the bomb on Vytorin and Zetia at the American College of Cardiology meeting.
Following are the day’s biggest winners and losers. Find out why shares of Schering-Plough and Constellation Brands popped while MEMC Electronics and Cisco dropped.
After the closing bell yesterday, Amgen put out a press release announcing that phase 3 pivotal data are being published in a scientific/medical journal about its most important drug development pipeline product--an osteoporosis drug known as D-mab. (Whenever you see the letters mab at the end of the scientific name for a drug it means it's a monoclonal antibody).
This morning, Bear Stearns biotech analyst Mark Schoenebaum and a couple of members of his research team hosted a conference call with a 50-page PowerPoint about Amgen. The purpose was to drill down into the looming court decision over whether Roche will be able to launch a competing anemia drug in the U.S. for kidney dialysis patients.
Investors now think that a biotech company with less than one-third the revenue of Amgen is worth more than the former sector king. Elizabeth Trotta at TheStreet.com took note of this late last week but I thought it was worth pointing out.
Plunging commodities combined with weakness in energy and basic materials dragged down the Dow as well as the broader stock market. What's the word on the Street?
Following are the day’s biggest winners and losers. Find out why shares of NYSE and GM popped while Amgen and Newmont Mining dropped.
Stocks soared Tuesday, led by financials, as the market breathed a huge sigh of relief following better-than-expected earnings from Goldman Sachs and Lehman Brothers.
Shares of Amgen closed just above 43 bucks yesterday. That's more than a five-year low. And they're falling even lower in early trading this morning. Today the company is making its first investor presentation since last week's FDA advisory committee vote to restrict usage of Amgen's anemia drugs on cancer patients.
I am at the Genentech analyst meeting at the Mandarin Oriental Hotel next to the new Time Warner Center in Columbus Circle in Manhattan. The room is packed with an estimated 300-plus analysts, investors, reporters and Genentech execs.
A 200+ point decline turns into a net gain on the Big Board as Standard & Poor's gives the market some confidence that the end is near. Also, oil and gold hit records and more in the Word on the Street.
Scientists advising the Food and Drug Administration said anemia drugs sold by Amgen and Johnson & Johnson should be allowed to stay on the market for chemotherapy patients.
Stocks closed higher Thursday after Standard & Poor's delivered the words Wall Street was waiting to hear: The end is in sight.