The heads of research at several large drugmakers have received mysterious invitations to the White House for a meeting Friday morning.» Read More
The American Heart Association issued new guidelines for Pfizer's Celebrex, advising doctors the painkiller should only be used as a last resort on patients who have heart disease or a risk of developing it, CNBC's Mike Huckman reported.
Stocks closed lower on concerns about economic growth and a rise in crude oil to its highest levels of the year. "Even with the corrective action we've seen since last week, consolidation is occurring in an orderly manner and that's positive," Gene Peroni, Senior Managing Director of Equity Research at Claymore Advisors, told CNBC.com.
Merck's stock rose before the opening bell Monday after U.S. regulators asked for more data on rival Novartis' diabetes drug, which gives Merck a leg up in the race to launch a new class of diabetes drugs.
Drugmaker Merck said it would stop lobbying state legislatures to make it mandatory for schoolgirls to be inoculated with its new cervical cancer vaccine.
Merck plans to suspend its lobbying campaign to make its vaccination Gardasil mandatory, according to The Wall Street Journal's website. Gardasil protects against the sexually transmitted virus that causes cervical cancer.
Big Pharma is facing a dose of big reforms proposed by Congress. Some heavy-hitters are pushing for more oversight of the drug industry by strengthening the authority of the FDA. Do we need increased regulations and should the FDA be given more authority? Those were the issues at the heart of a heated debate today on CNBC’s “Morning Call.”
The Governor of Texas announced on Friday that all girls entering the sixth grade in his state must get Merck's new vaccine, Gardasil, before they can enroll. Gardasil prevents four strains of the sexually-transmitted disease known as HPV which is the leading cause of cervical cancer. It works best when given before becoming sexually active. But the political and social backlash has already begun.
Gov. Rick Perry of Texas recently ordered that all girls entering the sixth grade in that state be vaccinated against cervical cancer. The mandate has become a source of controversy from more than one angle. Does a governor have the right to make such an order? Is the vaccine safe? Could it promote sexual promiscuity? What role does Merck – the company that developed and produces the vaccine – play in all this?
A sharp rise in crude oil prices failed to deter investors on Tuesday as they nibbled at stocks ahead of the Federal Reserve's decision on interest rates, set for release tomorrow afternoon.
The company said fourth-quarter profit fell despite higher revenue as the drugmaker booked charges for restructuring, a large acquisition and increased legal reserves for painkiller Vioxx and osteoporosis drug Fosamax.
The Dow is pointing higher this morning as investors focus on the Fed's two day meeting and a bunch of big earning reports. European markets are slightly weaker and Asian stocks were mixed overnight. The yen remains lower against the dollar.
The chief executive of Schering-Plough told CNBC that the drug company's latest earnings are a further sign that a three-year-old restructuring is having a positive impact.
The drugmaker earned $9.45 billion in the fourth quarter, or $1.32 a share, compared with $2.73 billion, or 37 cents a share, a year earlier.
Merck said a plaintiff who alleged the drugmaker's Vioxx painkiller caused her husband's heart attack and death dropped her lawsuit five weeks before the trial was to start.
A hung jury forced a mistrial in lawsuits by two men who blamed their heart attacks on Vioxx, the once-popular painkiller made by pharmaceutical company Merck.
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.
Bullish sentiment took hold of markets as stocks charged higher--albeit on thin volume--with auto and homebuilding shares leading the way.
It looks like the Journal of the American Medical Association (JAMA) chose fractures as the theme of its new issue. One study shows that taking a popular osteoporosis drug for 5 years and then going off of it for 5 years carries a residual beneficial effect almost as if the patient stayed on the drug for all 10 years. Merck paid for the study of its #3-selling drug, Fosamax. The only exception was a 55% increased risk of fractures of the spine for those who stopped taking Fosamax. Doctors say that means...
Merck's board elected chief executive Richard Clark as chairman, giving a vote of confidence to a CEO who has presided over a strong rebound in the drugmaker's share price.
Two days after Pfizer named new CEO Jeff Kindler Chairman of the Board, Merck has promoted its CEO Dick Clark to Chairman as well. Clark has been on the job a year longer than Kindler and Merck's stock has performed about three times better than Pfizer shares this year. Former Pfizer CEO Hank McKinnell was expected to remain Chairman through next February, when he will leave the Board altogether, but the directors decided to give Kindler an early Christmas present.