U.S. biotechnology company MedImmune has hired Goldman Sachs to explore a sale of the company, which has a market capitalization of $8.8 billion, people familiar with the situation said on Thursday.
Nestle, the world's largest food company, will buy U.S. baby-food giant Gerber from NovartisAG for $5.5 billion in cash, becoming the world's biggest baby food company.
Nestle is expected to announce a $5 billion deal to acquire baby-food maker Gerber from Swiss drugmaker Novartis , sources familiar with the situation told Reuters on Wednesday. An announcement is expected on Thursday, sources said.
An experimental bowel drug from GlaxoSmithKline and its partner Adolor has little commercial future following safety problems that caused trials to be put on hold, analysts said on Tuesday.
Novartis pulled bowel drug Zelnorm from U.S. shelves on Friday at the request of regulators because clinical trial data indicated a possible link to heart attacks and strokes.
Novartis cut its 2007 sales forecast on Friday after pulling bowel drug Zelnorm from U.S. shelves at the request of regulators because clinical trial data indicated a possible link to heart attacks and strokes.
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Novartis AG's high blood pressure pill, Tekturna, won U.S. regulatory approval, calming investor fears about the firm's ability to get new drugs to market and boosting its shares nearly 4%.
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.
Swiss pharmaceutical giant Novartis' plans to launch diabetes treatment Galvus may be dealt a blow by the Food and Drug Administration at the end of the month, market sources told CNBC Europe.
Novartis CEO Daniel Vasella talked to "Worldwide Exchange" about the prospects for an eye medication just approved by the EU and also weighs on global intellectual property rights.
Swiss pharmaceutical giant Novartis said Thursday fourth-quarter net income rose 23% thanks to double-digit percentage sales growth in top-selling blood pressure and blood cancer drugs.
Financials and techs, two groups that pulled in the money last week, will be out in front of the news this week when earnings season is in full swing. Markets will also be watching key economic data, a parade of Fed speakers and whatever side show goes on when oil markets reopen, after last week's near six percent slide in crude.
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.
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.
U.S. stocks are heading lower this morning as oil prices climb on OPEC developments. Today's headlines from OPEC, brokerage profits, and takeover activity will all get attention but stocks are looking for direction as a year of strong gains begins to wind down. Asian stocks closed higher, with Japan at a seven month high on the weakening yen. European stocks are higher.
China has more than 1.3 billion people and has become the 9th largest drug market in the world--with $9.5 billion in annual sales. So--it should come as no surprise that Big Pharma is furiously trying to grab a piece of that market--which by some estimates could be wroth $25 billion in the next three years.
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.