CBS fired Don Imus from his radio show Thursday, the finale to a stunning fall for one of the nation's most prominent broadcasters. Imus initially was suspended for calling the Rutgers women's basketball team "nappy-headed hos" last week, but outrage continued and advertisers bolted from his programs.
U.S. biotechnology company MedImmune has hired Goldman Sachs to explore a sale of the company, which has a market capitalization of $8.8 billion, people familiar with the situation said on Thursday.
The failure of rival heart drugs has put the spotlight on a novel GlaxoSmithKline compound that will reach a critical stage of testing this year, after languishing in development for years.
NBC News has decided that its cable news channel, MSNBC will no longer simulcast the Don Imus radio program, effective immediately. CBS Radio says its two week suspension of the program stands although it is monitoring the situation. Advertisers have been defecting from the controversial radio host.
The storm over Don Imus' racial comments escalated as more advertisers pulled out from his show. CNBC's Donny Deutsch told "Power Lunch" that "I think Imus is done."
An experimental bowel drug from GlaxoSmithKline and its partner Adolor has little commercial future following safety problems that caused trials to be put on hold, analysts said on Tuesday.
It was an extra-long Lightning Round today. So that means Cramer covered everything from retail to tech to banks to agriculture -- and more.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.
Biopharmaceutical company Theravance Inc. said Monday it saw positive results from two midstage studies dealing with its developing asthma and chronic obstructive pulmonary disease treatments.
GlaxoSmithKline said Thursday it has submitted a biologics license application for Cervarix, its cervical cancer candidate vaccine, to the U.S. Food and Drug Administration.
Last night I debated John Challenger of Challenger, Gray and Christmas, the firm that each year comes out with that March Madness lost wages study.
U.S. health regulators have approved GlaxoSmithKline's pill Tykerb for patients with advanced breast cancer after other treatments have failed, a company spokeswoman said on Tuesday.
J.P. Garnier, GlaxoSmithKline's chief executive officer, told CNBC's "Squawk Box" Wednesday that he expects to make the company's new drug for advanced breast cancer available to U.S. patients "within a few days."
Drugmaker Schering-Plough is buying Organon Biosciences for about $14.5 billion. Organon is part of the Dutch paint and chemical company Akzo Nobel whose shares are at a new high today on the news. Schering Chairman and CEO Fred Hassan has been saying for quite some time that he's "very much in the deal flow" on company conference calls and in interviews with CNBC, so the fact that he's making a big acquisition doesn't come as a huge shock.
Genentech shares traded lower after data from a clinical trial indicated that a lower dosage of the blockbuster cancer drug Avastin was as effective as the standard dose for lung cancer patients.
A new study may provide hope for the tens of millions of Americans who have chronic obstructive pulmonary disease or COPD.
Drugmaker Merck said it would stop lobbying state legislatures to make it mandatory for schoolgirls to be inoculated with its new cervical cancer vaccine.
GlaxoSmithKline, Europe's biggest drug maker, reported a 16% rise in annual profit Thursday, in line with expectations of analysts polled by Reuters. But the company said 2007 growth would slow as it awaits pipeline renewal.
The Governor of Texas announced on Friday that all girls entering the sixth grade in his state must get Merck's new vaccine, Gardasil, before they can enroll. Gardasil prevents four strains of the sexually-transmitted disease known as HPV which is the leading cause of cervical cancer. It works best when given before becoming sexually active. But the political and social backlash has already begun.
The Eli Lilly-Icos joint venture reported that worldwide sales of their erectile dysfunction drug came to $971 million last year -- and is now on the cusp of becoming a billion-dollar blockbuster drug in 2007. We will find out how Viagra is doing when Pfizer reports earnings before the bell on Monday morning, but sales growth is expected to have picked up. These results represent a significant turnaround in a drug segment that some thought had already had its day.