The pressure is on for those earnings to support the market's current valuations, after weeks of choppy trading.» Read More
After the trauma of a 416-point drop in the market, Cramer likes to go fishing – bottom fishing, actually. He has 25 years of experience angling through the wrecks of portfolios that belonged to less experienced fisherman and women, and today he’s going to share his secrets with you.
Could room-temperature Byetta heat up sales? Amylin Pharmaceuticals and Eli Lilly announced that the FDA says their diabetes drug Byetta (pronounced buy-ate-uh) doesn't have to be kept in the fridge anymore. Byetta is the twice-a-day stick-pen injectable drug that helps people lower their blood sugar and lose weight
U.S. stocks may have more room to run, but analysts say it might be wise to buy on the dips as the market looks for the next big catalyst to move it forward.
Stocks staged a late-afternoon rally after the Federal Reserve signaled that the outlook for inflation has improved while the economy continues to grow at a moderate pace.
The pharmaceutical company said fourth-quarter net income fell 81%, weighed down by liability and restructuring charges. However, excluding these items, Lilly's profits outpaced analysts' expectations.
So, an overwhelming majority of Icos shareholders voted for the Lilly buyout offer. Lilly originally offered $32 per share, but under pressure from proxy advisory firms and big investors, the company raised its bid to $34 per share. And: the United Kingdom's government health care program announced today that it is not going to spring for Erbitux or Avastin from Genentech and Roche.
Waiting Room: The rush to get breaking news on the air is one big, stress-filled, exciting adrenaline rush. A logical person (i.e. one who does not work in television) would think that if you know in advance that something might break at a given time, that makes life easier. Well, in many ways it does, but it sometimes can drag into an arduous wait. Sometimes for naught!
Generics hurt sales of Bristol-Myers Squibb's top-selling and most profitable drug Plavix, and Bristol-ImClone cancer drug Erbitux. Also: This afternoon, ICOS shareholders vote on the Eli Lilly buyout offer -- see the results ASAP on CNBC.com.
Bristol-Myers Squibb reported a fourth-quarter net loss because of special charges and generic competition for its Plavix blood-clot drug, but operating results beat expectations.
Wall Street is undecided so far on where it will start the day though early earnings news and housing data could help set the tone. For now, eBay's strong profits and big stock move is a bright spot lifting the Nasdaq, which bounced higher on a tech rebound yesterday. The Dow, fresh off its 26th high since October, is flattish.
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.
Amylin Pharmaceuticals has felt the pressure of late since Merck released a diabetes drug to rival its own Byetta. And there’s no relief in sight with Novartis not far behind in getting approval for its Galvus treatment. CNBC’s Mike Huckman spoke with Amylin CEO Ginger Graham about how the competition is affecting the company.
An ovarian cancer drug under development by Genentech that many investors had written off showed promise in a midstage trial, even though the trial may not have met its main goal.
Eli Lilly said it entered into settlement agreements with 14 groups involved in Zyprexa liability suits and will take a fourth-quarter charge of up to $500 million related to the litigation.
During the final week of the year, CNBC spoke with analysts to get their top picks for 2007. Large cap names and private equity were winners in 2006, and many analysts are expecting more of the same next year. But look for some picks that may be surprising as well.
Zyprexa, the drug at the center of a patent dispute, is Eli Lilly's top seller and most profitable product.
Wondering how to make big money in drug stocks next year? Two analysts told us their winning prescription for your 2007 portfolio on today’s “Morning Call.” Their advice: Look for (positive) newsmakers and buy into generics.
Lilly and Icos today postponed the Icos shareholder vote on the new-and-improved, $34-a-share buyout offer until January 25th. The vote was supposed to take place today, but after Lilly raised the bid -- somewhat reluctantly -- yesterday, the companies wanted to give investors more time to mull it over. At least one big shareholder is still complaining that Lilly didn't go high enough.
The bulls caught their breath today after a run-up last week. All major indexes ended the day in the red. The Dow Jones Industrial Average closed slightly lower today by 4 points, even as two of its biggest components – General Electric and Citigroup – surged with both stocks hitting highs (Citigroup closed at an all-time high, GE at a 52-week high). The Nasdaq and S&P 500 also faced selling pressure, closing down 22 and 5 points, respectively.
I jinxed myself. That closing statement in my last posting about things quieting down on the beat: fuggedaboutit. Yesterday and today, "The New York Times" ran above-the-fold, front-page stories on Lilly's marketing of Zyprexa. It's the company's top-selling drug and its biggest profit-maker -- analysts estimate the schizophrenia/bipolar disorder drug is responsible for one-third to as much as one-half of the company's bottom line.