U.S. drugmaker Eli Lilly reported lower-than-expected quarterly revenue as it was hurt by disappointing sales of its cancer and diabetes drugs.» Read More
April 24- Zimmer Holdings Inc said on Thursday it would buy rival orthopedic products maker Biomet Inc for more than $13 billion, the latest deal in a wave of consolidations in the healthcare industry. The deal is expected to take Zimmer from the fourth-largest seller of orthopedics products to No. 2, behind Johnson& Johnson.
April 24- Eli Lilly and Co reported lower-than-expected quarterly revenue on Thursday, hurt by disappointing sales of its cancer and diabetes drugs, and its shares fell more than 3 percent.
*Tech results lift Nasdaq futures, Apple and Facebook rally. *Attention on Apple after announcing seven-for-one stock split. NEW YORK, April 24- U.S. stock index futures were higher on Thursday, with Nasdaq futures jumping more than 1 percent following a pair of blowout results from technology stalwarts Apple and Facebook.
April 24- U.S. drugmaker Eli Lilly and Co reported lower-than-expected quarterly revenue on Thursday, hurt by disappointing sales of its cancer and diabetes drugs, and trimmed its 2014 profit forecast. Revenue fell 16 percent to $4.68 billion while Wall Street expected $4.8 billion.
ZURICH, April 24- Swiss drugmaker Novartis posted a weaker-than-expected 1 percent rise in quarterly sales, underscoring the pressures from generic competition and tighter healthcare budgets that led it to announce a radical business overhaul earlier this week.
Novartis posted first-quarter profit that beat expectations, boosted by an exceptional gain from the sale of its blood transfusion test unit.
GENEVA— Strong new drug sales helped Swiss pharmaceutical firm Novartis AG report a 24 percent rise in first-quarter profit. "Novartis delivered a solid quarter, with all divisions contributing to growth," CEO Joseph Jimenez said.
Apple dazzled investors with a big earnings beat, another big buyback and a dividend hike that should boost sentiment up and down Wall Street.
Baxter International Inc. fell$. 14 or. 2 percent, to $72.24. Bristol-Myers Squibb Co. fell$. 04 or. 1 percent, to $50.95. Hospira rose$. 05 or. 1 percent, to $43.76.
Baxter International Inc. rose$. 07 or. 1 percent, to $72.45. Bristol-Myers Squibb Co. fell$. 05 or. 1 percent, to $50.94. Hospira fell$. 12 or. 3 percent, to $43.59.
Baxter International Inc. rose$. 13 or. 2 percent, to $72.51. Bristol-Myers Squibb Co. fell$. 07 or. 1 percent, to $50.92. Hospira fell$. 21 or. 5 percent, to $43.50.
Drugmakers eager to satisfy shareholders are wheeling, dealing, and in one case even making trades like a pro sports team looking to shake up its roster.
TOKYO— Shares were mixed in Asia on Wednesday, as weak data from China sapped upward momentum from an overnight rally on a flurry of deals in the pharmaceutical sector. Overnight, U.S. financial data and corporate earnings helped spur gains from deals by Switzerland's Novartis with Britain's GlaxoSmithKline PLC and the Eli Lilly& Co. of the U.S.
Swiss drugmaker Novartis AG on Tuesday said it's trading its vaccine business for GlaxoSmithKline Plc's cancer drug business and selling its veterinary drug business to Eli Lilly and Co. Meanwhile, Canadian drugmaker Valeant Pharmaceuticals International Inc. said it teamed up with activist investor Bill Ackman in a bid for Botox maker Allergan that could be worth about $45 billion.
*Eli Lilly buys Novartis' animal-health arm for $5.4 bln. PARIS, April 22- The purchase of Novartis' animal-health business will strengthen Eli Lilly's hand in emerging markets, tapping into growing demand there for protein-rich diets and household treatments for pets, a senior executive at the U.S. group said.
Eli Lilly and Co. received a key regulatory approval for a new cancer treatment Monday evening, but the drugmaker's shares slipped in premarket trading Tuesday after Lilly also announced a $5.4 billion acquisition.
Allergan surged after Valeant Pharmaceuticals said it had teamed up with activist investor Bill Ackman to make a bid for the Botox maker. Netflix and Harley-Davidson rose sharply after reporting earnings that beat analyst's expectations.
*Travelers and United Tech profits top expectations. *Netflix Inc surged 7.8 percent to $375.74 in premarket trading a day after results showed strong subscriber growth, a sign that the trading favorite still had room to grow despite concerns over its elevated valuation.
*Novartis to buy GSK's oncology assets for $14.5 bln. The deals, which include Novartis buying GSK's cancer drugs and GSK acquiring Novartis' vaccines business, came hot on the heels of a newspaper report that AstraZeneca had turned down a $101 billion bid approach from Pfizer- a story that sent shares across the sector surging.
U.S. stock index futures pointed to a lower open on Tuesday, ahead of first-quarter earnings early in the day from three Dow-listed companies.