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July 23- Biogen Idec Inc reported sharply higher-than-expected quarterly revenue on surging sales of its new Tecfidera treatment for multiple sclerosis, and the company raised its full-year profit forecast. U.S. sales of $585 million blew past Wall Street expectations in the $485 million range.
July 23- Biogen Idec Inc reported sharply higher-than-expected quarterly revenue on surging sales of its new Tecfidera oral treatment for multiple sclerosis, and the company raised its full-year profit forecast. The company on Wednesday said it had earned $723.1 million, or $3.01 per share, in the second quarter.
Even as traders monitor the world's hot spots, corporate earnings news could be a positive for stocks in the week ahead.
July 17- Medical device and drug maker Baxter International Inc reported higher-than-expected quarterly adjusted earnings, driven primarily by a surge in sales of the dialysis products it gained from its acquisition of Gambro AB last year.
Although treatments for Alzheimer's have struggled, drugmakers are still working in the space, with 67 medicines currently in development.
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*Shire expecting to receive approaches, taps Citi- sources. LONDON, June 17- Shares in Shire hit a record high on Tuesday on expectations of a takeover as dealmaking sweeps the drugs sector, after Reuters reported the group had hired investment bank Citi as a defence adviser. Shire and Citi declined to comment.
Shire has hired investment bank Citi as an adviser following a wave of deals in the healthcare sector.
Some of Monday's midday movers:
June 16- A drug approved to prevent rejection of transplanted kidneys significantly reduced relapses of multiple sclerosis in a late stage-trial sponsored by Biogen Idec and AbbVie Inc, but serious infections and potential liver toxicity continued to cloud the drug's future.
WASHINGTON, June 6- The U.S. Food and Drug Administration said on Friday it approved Biogen Idec Inc's long-lasting hemophilia A drug, Eloctate, adding another product to the company's nascent portfolio of drugs for non-malignant blood disorders. The FDA's ruling followed its approval in March of Biogen's hemophilia B treatment, Alprolix.
Some of Thursday's midday movers:
NEW YORK, May 19- Pfizer Inc may have called its $118 billion bid for AstraZeneca Plc a "final" offer, and its British rival sees no prospect of a deal being revived. Morningstar analyst Damien Conover in Chicago said the odds of an AstraZeneca purchase had fallen well below the 50 percent mark.
Take a look at some of Thursday's midday movers:
FRANKFURT, May 15- Germany's Merck KGaA, the world's largest maker of liquid crystals for display screens, said quarterly underlying core earnings edged 0.7 percent higher as lower costs outweighed the impact of weak foreign exchange rates and sluggish growth in drugs sales.
*Hillshire to buy Pinnacle Foods for $6.6 billion. Biogen Idec jumped 4.8 percent to $300.54 and TripAdvisor Inc rose 5.8 percent to $89.51. Twitter gained 5.9 percent to $33.94 after news reports that brokerage SunTrust raised its rating on the stock to "buy."
*Hillshire to buy Pinnacle Foods for $6.6 billion. Biogen Idec jumped 4.8 percent to $300.54 and TripAdvisor Inc rose 5.8 percent to $89.51. Now people are trying to pick up bargains, and some of those stocks have been going up, "said Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois.