Bristol-Myers Squibb's battering after a disappointing drug trial serves as a buying opportunity, "Fast Money" traders said.» Read More
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Novo Nordisk, the world's biggest diabetes drug company, is very lightly traded on the New York Stock Exchange, but check out the move in the stock today. Coincidentally, on the day that The New York Times runs a front-page story (with two jump pages) on how controlling diabetes is about lowering blood sugar and cholesterol levels, the Danish drugmaker is out with major data on its glucose fighting drug Liraglutide.
Shares of Amylin Pharmaceuticals and Alkermes are rallying today after FBR Biotech Analyst, Jim Reddoch, put out a research note saying the once-a-week diabetes drug they're working on could be a $3 billion-a-year seller. AMLN shares have been on a tear in recent months, rising from about $37 in March to nearly $50 today. That's on investor anticipation of robust test results and continued speculation that AMLN could get taken out.
Pharmaceutical company Novo Nordisk, the world's largest producer of insulin, said Friday that second-quarter net profit more than doubled and raised its guidance for the full year. Its shares rose more than 4%.
GlaxoSmithKline is rallying today after reporting that second quarter sales of its diabetes drug Avandia, fell 31% in the U.S. from the same time a year ago. And from the first quarter of this year to the second quarter, revenue in the U.S. from the blockbuster pill slid $120 million. So, why are investors buying the beaten-down stock?
Stocks ended sharply lower on several disappointing earnings reports and concerns about the housing industry. "The housing story has gone from bad to worse. It's pretty clear that the subprime market is not as well contained as a lot of people had been thinking," said David Rosenberg, North American economist at Merrill Lynch.
With little or no fanfare Pfizer launched a new ad campaign for its erectile dysfunction drug Viagra on NBC Nightly News last night. Pfizer has gotten into a bit of trouble before for its relatively racy Viagra spots like the "Horny Devil" campaign featuring the guy with two horns growing out of his head. This time it's got a bunch of 40-something guys sitting around a dusty barn singing "Viva Viagra" to the tune of Elvis' "Viva Las Vegas".
Eli Lilly Tuesday posted better-than-expected second-quarter earnings helped by surging sales of its prescription drugs, including depression treatment Cymbalta, and the company raised its 2007 profit forecast.
Ariad Pharmaceuticals said a U.S. federal court ruled in favor of it and co-complainants in a patent infringement case against Eli Lilly, saying that the patent was valid and enforceable.
Market pros will be looking closely at the tech sector in the upcoming earnings season, but for investors seeking a quick pop, they need look no further than the energy sector as oil prices remain at record levels.
The huge auditorium at the McCormick Place Convention Center was packed to the rafters. It was standing room only in the 45-hundred seat theater, although the fire department wouldn't let people stand. The doctors, scientists, and educators at the American Diabetes Association's Annual Meeting came to see the rock stars of their world--Dr. Steven Nissen who wrote the controversial New England Journal of Medicine report questioning the safety of GlaxoSmithKline's Avandia and Dr. Phillip Home who wrote--also in NEJM--the subsequent interim analysis of a GSK-sponsored study that, so far, supports Avandia's safety.
If you’re dead set on cradling your drugmaker darlings, there are only a few Cramer thinks are worth owning.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.
What’s the biggest event of the year for biotech and big pharma? It’s the 43rd ASCO Annual Meeting where drug companies present new research that could indicate whether their cancer drugs are blockbusters or duds. It starts this Friday night in Chicago - what should you expect?
Joseph Keating, chief investment officer at First American Asset Management, told CNBC’s “Squawk on the Street” that dividend stocks are a good bet in retirement.
On the heels of Eli Lilly's new anti-depressant drug for dogs (your dog is depressed? TAKE HIM FOR A WALK), a viewer alerted me to a new drug from a small company called Vical, in conjunction with Merck and Sanofi-Aventis. They've come up with a vaccine to treat melanoma in dogs. SKIN CANCER IN DOGS?
A woman apologized Monday for outing former Eli Lilly chairman and top State Department official Randall Tobias as a client of her escort service but said it was necessary to prove her company was doing legal business.
The resignation of a top State Department official following ties to an alleged prostitution ring is just the latest of a number of sex scandals to rock Washington, D.C.'s elite in years past.
Eli Lilly announced Wednesday it has received approval from the FDA to market Reconcile, the first selective serotonin reuptake inhibitor (SSRI) class of antidepressants approved by the FDA for treatment of canine separation anxiety in conjunction with behavior modification training.
Several other major drug companies were apparently interested in buying MedImmune, including Merck, Eli Lilly and possibly Novartis, CNBC’s David Faber reported Tuesday.
MedImmune may be close to completing a sale of the company just days after the drugmaker said it hired Goldman Sachs to explore opportunities, sources told CNBC's David Faber on Wednesday. "They are looking to get this deal done over the weekend," Faber said. "Monday morning is what I'm hearing."