Allergan is considering a breakup of the company into two businesses, a person familiar with the matter told Reuters on Friday.» Read More
Eli Lilly Thursday forecast 2008 earnings above Wall Street expectations and said it remained on track to seek U.S. approval this month for prasugrel, a blood clot preventer, which posted mixed results in a recent large clinical trial.
Regular blog readers are well aware of my relentless pursuit of big CEO interviews. So, I wanted to give the backstory to a surprising CEO cancellation of a previously scheduled and confirmed interview today by Bristol-Myers Squibb. A few weeks ago, my producer Ruth and I got tentative confirmation from a Bristol spokesman that the relatively new CEO Jim Cornelius would finally do his first TV interview since taking over the company last year.
I don't know how they all got clustered together--maybe so many of the major pharmaceutical companies meet with Wall Street in early December so everyone can then take off on long vacations--but my hands are full with three big pharma events in as many days. Yesterday, Merck put out guidance.
With little earnings news, analyst conferences appear to be dictating the market. What's the trade heading into next week?
Pfizer (PFE) hit a 52-week low while Merck (MRK) sprinted to a 4 year high, both ahead of analyst meetings. What’s the trade as drug makers get a physical from Wall Street?
Regarding my post from yesterday about Lilly CEO Sidney Taurel, a spokesman left me a voicemail this morning to say it has no intention of backing out of the interview next week. I've got a tentative commitment from Bristol-Myers Squibb to interview its new CEO Jim Cornelius for the first time at that company's analyst meeting next week.
If you arrive for work at CNBC headquarters early enough you can pick up a copy of "The Wall Street Journal" at the lobby desk when you walk in. Today, I grabbed mine and set it down on my desk while I logged onto my computer and cleaned out my inbox.
So, does this mean I'm gonna get scooped by Reuters on Merck stories? I'm just kidding, but that was one of my reactions when I saw the press release this morning from Merck announcing that it's putting the CEO of Reuters, Tom Glocer, on its Board of Directors. The head of a financial data and news company on the Board of a major drug company. Very interesting.
Big drug companies might not be so defensive anymore. Here’s why.
It didn't take long for Japan's Takeda Pharmaceuticals, which trades on the Tokyo exchange, to try to capitalize on the new safety warning for GlaxoSmithKline's diabetes drug Avandia. Last week the FDA slapped a so-called "Black Box"--the agency's most severe warning--on the Avandia label advising patients and doctors about the potential heart attack and stroke risk that's been the subject of so much controversy over the past several months.
If the writer's strike has you looking for alternatives to insomnia-fighting late-night TV shows, then Pfizer may have just what the doctor ordered. Tune into the company's web cast for investors and analysts at 11 p.m. Eastern Daylight Savings Time on Thursday, November 29th. If you don't believe me check out the press release on the Pfizer web site. The world's biggest drug company is taking its show on the road to Hong Kong.
I'm taking some much needed time off for a couple of weeks. Actually, our scheduling guru at CNBC, Alex Crippen, told me if I don't use all of the days I've accumulated by the end of next month, I'll lose them. I consider myself a hard worker, but I'm not that generous. So, off I go.
Today's the day Eli Lilly was expected to get a Food and Drug Administration decision on the first-ever one-a-day impotence drug. Right now, the company sells Cialis for use as needed. But men could pop this one every day--like an aspirin or multi-vitamin--so the drug would always be "on boa
This morning Amylin Pharmaceuticals, Eli Lilly and Alkermes announced the highly anticipated test results on their once-a-week, Type 2 diabetes drug. One analyst recently called this the most important biotech data of the second half of this year. Many expect the drug to become a multi-billion dollar blockbuster.
Stocks finished near even Thursday as Wall Street endured another topsy-turvy session, with rumors – of more subprime trouble and a Fed rate cut – proving just as influential on the markets as a handful of economic and earnings reports.
Shares of Eli Lilly fell more than 6 percent on Thursday, after the drugmaker halted two small trials of blood clot preventer prasugrel, the company's most important experimental drug.
If the stock closes down at least 4.46% today (as I write this it is off nearly 7%) Eli Lilly will suffer its worst one-day loss in more than four years, according to our resident statistical expert Robert Hum. If it were to close off more than 7.79%, Hum says it would be the stock's biggest one-day fall since Oct. 23, 2002--almost five years to the day.
Bristol-Myers Squibb Thursday said third-quarter earnings more than doubled on higher drug revenue, including a strong rebound for its Plavix blood-clot preventer, and raised its 2007 profit forecast.
Lots of late news from the drug makers. CNBC’s Mike Huckman has the latest.
Eli Lilly said it stopped giving its experimental blood-clot preventer prasugrel to heart patients in two small trials, noting that the dosage of the drug may have to be adjusted for certain types of patients.