Some of the names on the move ahead of the open.» Read More
Michael Krensavage, pharmaceutical analyst at Raymond James, told CNBC’s “Morning Call” that strong revenue and earnings growth will reward investors in the pharmaceutical sector.
A new study offers the millions of people who have osteoporosis the hope of taking a drug to treat it only once a year. The New England Journal of Medicine reports that patients who got a once-a-year infusion of the Novartis drug Reclast saw a 70% reduction in the risk of spinal fractures and a 40% drop in the risk of hip fractures.
Several other major drug companies were apparently interested in buying MedImmune, including Merck, Eli Lilly and possibly Novartis, CNBC’s David Faber reported Tuesday.
Stocks closed lower as cautious comments from GM and Pfizer snapped the Dow's seven-day winning streak. "We've seen a really good move in the market and a little consolidation is healthy," said Bill Nichols, managing director of equity trading for Bear Stearns. "After being higher so much, a little profit-taking is only natural."
Strong sales of its flagship drugs boosted net profit at Swiss drugmaker Novartis by 11% to $2.171 billion, the group said on Monday, confounding expectations for a weaker profit.
Health care and insurance are two of the fastest-growing segments of the booming pet market. And big drug makers such as Pfizer, Novartis and Eli Lilly have taken note.
The maker of the FluMist vaccine said it was putting istself up for sale, causing its shares to surge more than 10%. MedImmune also said that certain major drugmakers had already indicated they might be interested in a takeover.
Stocks closed with broad gains as investors bought up large cap stocks, shrugging off a 3% gain in oil prices. "People are looking for a little bit of value, particularly in the large cap sector," said Dan McMahon, head of listed trading at CIBC World Markets. "It's not a huge move but we stopped the bleeding today."
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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.
The Fast Money Five give their picks for the hottest trades. Tonight, the burning rubber rally, the call ahead of Costco earnings and more...
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.