Merck CEO Kenneth Frazier said a flawed corporate tax system drives inversion deals that have drawn the government's ire. » Read More
While I was on the "New England Journal of Medicine" Web site yesterday preparing my reports for today about the embargoed articles, I noticed a banner ad at the top of the homepage from Eli Lilly saying something along the lines of, "Coming Soon: Effient (Prasugrel)."
Stocks kicked off September with a rally, inspired by the more than $7 drop in oil prices and a surge in the dollar.
Stocks shot out of the gate Tuesday as the price of oil plunged more than $7 and the dollar surged.
Two reports and an editorial in "The New England Journal of Medicine" are raising questions again about the potentially higher risk of death from cancer associated with a popular cholesterol-fighting drug.
When the Food and Drug Administration approved a new type of cholesterol-lowering medicine in 2002, it did so on the basis of a handful of clinical trials covering a total of 3,900 patients. None of the patients took the medicine for more than 12 weeks, and the trials offered no evidence that it had reduced heart attacks or cardiovascular disease, the goal of any cholesterol drug, the New Yor Times reported.
This won't be much of an end-of-summer holiday weekend for the folks at Merck and Schering-Plough. That's because early Tuesday morning (5am ET) the detailed results of the so-called SEAS study will be presented at a scientific conference in Germany. This is the test of MRK and SGP's cholesterol drug Vytorin, which showed a higher incidence of cancer among the patients taking the pill.
In the current monster-sized issue of Vogue, my producer, Ruth, while killing time on the Delta shuttle on our way from New York to Boston for a shoot this week, uncovered a blogworthy story buried in the hundreds and hundreds and hundreds of pages of fashion ads. It represents a whole new idea in the world of direct-to-consumer (DTC) drug advertising.
With the Democratic National Convention starting yesterday, the conversation over which candidate will be better for the economy will heat up. Here are some stats on the Dow and presidential elections. With the exception of FDR's takeover for Herbert Hoover, it looks like "Change" seems to be less favorable to the markets than continuity when a Republican is in office. The best year for the Dow, on the other hand, occurred under a Democrat's administration.
Two prominent articles in a major medical journal are examining the cost benefits and safety of an expensive, controversial vaccine for a sexually-transmitted disease and cancer.
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The market cap of Dow component Johnson & Johnson is a whopping $200 billion. Abbott Labs is valued at less than half that. But think of ABT as kind of a mini-me JNJ because like Johnson & Johnson, ABT has cobbled together a similar three-siloed business of drugs, devices and consumer products.
Stocks closed lower, hurt by rising oil prices and fresh worries about the financial sector, though the market ended off its lows for the day.
Stocks opened lower amid signs that the consumer was buying fewer goods that will cost more in the future.
The Elanians have been pretty quiet in the wake of last week's bad news. and the stock getting about a two-thirds haircut. And I don't mean to rub salt in the wound.
The Lightning Round is extended in this CNBC.com exclusive feature.
Stocks pulled off modest gains Friday as enthusiasm for some better-than-expected economic reports outshined a warning from S&P of a possible downgrade on Fannie Mae and Freddie Mac.
On a heavy earnings week with over 30% of the S&P 500 reporting, the markets end the week mixed on positive economic data and a decline in oil prices to an almost two-month low. The Dow and S&P are both down for the week while the NASDAQ ends the week up about 1.2%.
Leerink Swann, which specializes in healthcare equities research, is out with a couple of noteworthy surveys--one on the collateral damage to Merck and Schering-Plough's Vytorin this week and the other on drug-coated stents from Abbott Labs, Boston Scientific, Johnson & Johnson and Medtronic.
Pfizer Wednesday said quarterly earnings more than doubled on higher sales of its prescription drugs and lower expenses, but its Chantix quit-smoking drug lost more than a third of its U.S. sales amid safety concerns.
If only Merck could develop a treatment for this malady...