Some of the names on the move ahead of the open.» Read More
GlaxoSmithKline moved on Wednesday to reaffirm the safety of its troubled diabetes drug Avandia in a letter to the Lancet medical journal, reviving the group's battered stock price somewhat.
Shares in BMW rose 1.7% on speculation it could buy Swedish automaker Volvo from Ford Motor, according to reports on Swedish magazine Gotenborgs Posten’s Web site citing undisclosed sources.
Doctors in the United States have shunned GlaxoSmithKline's diabetes drug Avandia since a study was published last week linking the drug to heart-attack risk, according to daily prescription data.
If you happened to be watching CNBC's "Closing Bell" yesterday afternoon, you may have seen what we call a "promo" (short for a promotion of an upcoming story or guest) for a "First on CNBC" interview with GlaxoSmithKline CEO Jean-Pierre (JP) Garnier on today's "Closing Bell" at 3:15 ET.Since the Avandia news broke on Monday, I'd been trying to get an interview with him. He talked to The Wall Street Journal mid-week, but had yet to do a TV interview. Then, yesterday afternoon I got a call from his British PR person telling me that Garnier would like to come on CNBC on Friday. She said he was flying to the States from Europe last night and that we could do a live, one-on-one interview with him at or near the company's U.S. headquarters in Pennsylvania.
So, for the first time we are getting a clue about how much GlaxoSmithKline will charge for the over-the-counter diet pill Alli, at least at drugstore.com.According to the pricing on the site, where you can actually pre-order your Alli (it won't be available until next month), it'll cost about 83 cents per pill (60 capsules for $49.99). You're supposed to take about three a day, one at every mealtime. But if you buy in bulk (120 pills), the price goes down to about 62 cents apiece. Drugstore.com is also offering free shipping.
The CEO of GlaxoSmithKline and a prominent British medical journal are criticizing a recent study that said Glaxo's widely prescribed diabetes drug Avandia is linked to a greater risk of heart attack and possibly death.
In the middle of the Avandia blowup, GlaxoSmithKline this week is launching the new over-the-counter diet pill "Alli." The company says it's spending 150 million bucks on the first-year marketing of the formerly prescription-only Xenical from Roche.A big chunk of that is going toward a multi-pronged educational campaign to convince dieters they have to change their eating habits and exercise if they want to get the maximum benefit from Alli. That's crucial with this drug because the more fat you eat, the worse the gastrointestinal side effects. Clue: Glaxo is telling Alli users to wear dark pants and bring an extra pair to work. The company has gone so far as to set up an exhibit in New York City this week where people can get more information about Alli.
Stocks ended mixed and the S&P 500 failed to close at a new record for the second straight session. "We started out a little weak, and then we had a nice little rally, but the buyers were already in and there was no place for stocks to go but down," said Tom Schrader, head of listed trading at Stifel Nicolaus. "It's indicative of the late stages of a bull market."
So, let's start with GlaxoSmithKline's Avandia. The stock is rebounding a little bit today after the pummeling it took yesterday. Once again, the New England Journal of Medicine study saw an "embargo break" by another media outlet. That means the news hit in the middle of the trading day yesterday, catching just about everyone by surprise. The embargo was supposed to have lifted at 5 p.m. ET yesterday, which would have given all of the stakeholders -- chiefly Glaxo -- the ability to issue their prepared press releases at the same time.
Hey everyone, here's a look at the contest stock report. The biggest change appears to be GIGM which appears on the actives list for the first time--as part of the Chinese online gaming play betting on strong earnings before the bell Tuesday. Here you go:
GlaxoSmithKline's widely prescribed diabetes drug Avandia is linked to a greater risk of heart attack and possibly death, a new scientific analysis revealed, and the U.S. government issued a safety alert.
On Stop Trading! today, Cramer reiterated his bullish stance on the oil drillers. Also, when it comes to tech -- look out below.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
M&A news and drug trial updates provided some of the catalysts behind the most actively traded stocks on Monday.
It sits there in front of you: a plate filled to the overflow point with chili -- and under it, two cheeseburger patties, fried potatoes and one egg, over easy.What are you about to do?
The New England Journal of Medicine said in an editorial Wednesday that Merck's Gardasil, a treatment for human papillomavirus or HPV, appears to be safe and effective but "a cautious approach may be warranted" due to unanswered questions about the drug's long-term effectiveness and potential for adverse effects that could emerge over time.
GlaxoSmithKline's Alli (pronounced "ally" -- don't ask me why they put an "i" at the end) is the new over-the-counter version of prescription Xenical from Roche. It's a diet pill, but as I previously blogged, it has potentially embarrassing side effects. On the plus side, GSK says you can subtract 50% more pounds if you use Alli as directed. But, if you still eat too many fatty foods, you could run into trouble.
Analysts have projected peak sales of up to $1 billion a year for the allergy treatment, which is chemically known as fluticasone furoate.
Is this a sign that the world has become complacent about the pandemic flu threat? Or that some people think it was all a bunch of hooey?Roche today is announcing that it's cutting back production of Tamiflu. When bird flu stories and fears started reaching critical mass more than a year ago, Roche came under considerable criticism for not being able to make enough Tamiflu to meet the sudden spike in demand.
GlaxoSmithKline profits dipped 1% in the first quarter, as sales were hit by the strength of sterling and the loss of patent protection on key medicines, Europe's biggest drugmaker said on Wednesday.
Several other major drug companies were apparently interested in buying MedImmune, including Merck, Eli Lilly and possibly Novartis, CNBC’s David Faber reported Tuesday.