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Novartis is the latest company to brand its downsizing, cost-cutting campaign. The Swiss drugmaker is calling its initiative, "Forward". It's not an acronym. So, "Forward" means Novartis is going to try to save $1.6 billion in 2010 and get rid of 2,500 employees. Although I don't think "Forward" is the word which begins with "f" that the affected workers would use to describe the initiative.
Novartis plans a restructuring that will result in job cuts and the removal of several layers of management, according to an interview with CEO Daniel Vasella in the Wall Street Journal Europe.
The trade as foreign firms rush to snap up American companies. Who will be targeted next by foreign buyers with a strong currency on their side?
Novartis has found safety problems in higher doses of its key Galvus diabetes drug and will revise prescribing recommendations before launching in Europe.
There was a time within the past couple of years that it seemed you couldn't open a major newspaper or watch a TV news program without seeing a story about the bird flu and Tamiflu--the antiviral medicine from Roche and Gilead Sciences. GILD invented the drug and later sold rights to Roche which pays GILD a royalty on sales.
Biogen Idec, which has put itself up for sale, may get bids of around $25-30 billion from several of the world's top drugmakers keen to expand in the hot area of biotech medicine.
By the end of the coming week, the corporate earnings picture will be clear and it may not necessarily be one the stock market likes.
Johnson & Johnson , Wyeth and other makers of infants' nonprescription cough and cold products are recalling certain medicines in the United States because of the danger of overdose, the Consumer Healthcare Products Association said Thursday.
Cramer makes the call on viewers' favorite stocks.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.
BREAKING: Reuters reports FDA panel backs drug-coated stents made by Medtronic (MDT).
U.S. regulators have not approved Novartis's Prexige painkiller, the Swiss drugmaker said on Thursday, in an expected move after Australia withdrew the drug due to concerns over liver side effects.
The drugmaker Novartis said Monday that the European Commission had approved its Exelon skin patch to treat Alzheimer's disease.
In a study that could change the way hip fractures are treated, doctors have discovered that giving the Novartis osteoporosis drug Reclast can prevent later fractures and helps patients live longer.
Swiss drugmaker Roche Holding is taking legal action against Israel's Teva Pharmaceutical Industries in the United States to prevent Teva from selling a generic version of Roche osteoporisis drug Boniva, Roche said on Tuesday.
American Standard, Dell, Southern Copper and more...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.
Thirty years ago, I was in Las Vegas. My stepmother took me to see Ann-Margret at The Hilton and I remember our waitress telling us that Elvis was the only one who could consistently pack the room. It was strange that he passed away the next day. On this, the 30th anniversary of the King's death from overdosing on prescription drugs, the stocks of the companies that make prescription drugs are having a very dark day.
With stocks in rally mode, it's appropriate to drill down for answers as well as take a look at some key sectors.
Roche Holding said Thursday its CEO will step down next March as the pharmaceutical company separates that job from the chairman's position. It also posted a 24% increase in first-half net profit.
Novartis cut its full-year results outlook as generic competition pressured sales of a key blood-pressure drug, and said U.S. regulators had delayed the approval process for an important cancer treatment.