It’s time for the Lightning Round. Cramer makes the call on viewer favorites.» Read More
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.
Eli Lilly has downplayed for about 10 years the risks associated with Zyprexa, which treats schizophrenia, The New York Times said on its Web site Sunday, citing internal documents from the drug maker and e-mail messages of its managers.
The revised price of $34 a share follows objections from HealthCor, a big Icos shareholder, to the earlier $32-a-share offer. HealthCor argued that Icos was worth more than $40 a share.
Big pharma company Eli Lilly is coming under fire. CNBC's Pharmaceuticals Reporter Mike Huckman had the late breaking details on this morning’s “Squawk Box.” Huckman reported that Eli Lilly said sales of its top selling drug Zyprexa would be “stable” next year (the drug is used for schizophrenia and bipolar disorder).
U.S. stocks look set to spring higher, as of now, as the year end rally pulls in buyers and takeover activity supports prices. Japanese stocks closed at a seven month high ahead of tomorrow's rate decision by the Bank of Japan. European markets are flat to higher, helped by takeover activity.
At the Merck annual analyst day here in company headquarters in central New Jersey, the company revealed for the first time what many on the Street had suspected: it has a so-called CETP inhibitor in the drug development pipeline. That's the same type of drug that Pfizer pulled the plug on last week because of an increased risk of death.
From the Pfizer shocker about Torcetrapib, to new guidance from Merck and Lilly, to the FDA Advisory Committee meeting on the safety of drug-coated stents -- it was an incredibly busy week. Some final thoughts on the stent meeting...
Stocks fell after trading in a narrow range all day while investors waited for Friday’s jobs report, the last key economic indicator before next week's Federal Reserve meeting.
While I'm in the car--not driving--on my way to the airport to go to the FDA Advisory Committee meeting on drug-coated stents I wanted to pass along some news from the Eli Lilly analyst meeting this morning in New York that I just left.
Eli Lilly reiterated its earnings forecast for this year, but said next year's profits will be below analyst forecasts.
In a "First on CNBC-TV" Eli Lilly CEO and Chairman Sidney Taurel sat down with Mike Huckman on "Squawk Box" to talk about the company--as it meets with analysts today and issued new guidance. The pharmaceutical company says sales growth for 2007 will be in the low end of the 7-9% range--versus 6% for 2006.
GLOBAL STOCKS: U.S. stocks are flat to higher ahead of the opening as investors watch for interest rate news from the Europe. Stocks cooled off Wednesday--after a two day climb earlier this week nudged the Dow back to striking distance of its all time high. Tokyo stocks rose overnight. European stocks are higher-helped by a takeover approach for Gallaher Group. And oil is firmer this morning.
Good morning. We have a busy day ahead. Some of the stories we're covering include Eli Lilly CEO and Chairman Sidney Taurel on a "First on CNBC" interview. Lilly is giving an upbeat report at its annual analysts meeting today--with the company's research and development efforts fueling a strong pipeline of medicines.