More Videos
SPECIAL REPORT
- Food Network, HGTV Drive Scripps Networks' Upside Surprise
- Tommy Lee, Medical Tourism and Nasty Santa, Your Emails
- U.S. Markets Gain 3% for the Week Despite 10.2% Unemployment
- Disney's 'Carol' Tests Widest 3-D Release Ever
- Stimulus II? Jobs Tax Credit=Cash For Clunkers
- Rockwell Automation Earnings: What Options Are Saying
- Gold Will Touch Higher Lows and Higher Highs: Analyst
- Is Misery Alive And Well in Your Office?
- Consumers Haven't Changed, They Are Just Pickier
- Sweeping Health Care Overhaul Bill Passes House
- For the Jobless, 10% is Harder Than Before
- Week Ahead: Stocks Search for Catalyst in Quiet Week
- Outlook: Dollar Likely to Ride Higher on Bleak Jobs Report
- Geithner: More Stimulus, Not a Bank Tax
- Windfall is Seen as Bank Bonuses are Paid in Stock
- Buffett's Berkshire Hathaway Says Net Income Tripled
- Cramer: Earnings, IPOs Dominate Next Week
- Buying Fear: How to Own Volatility
RSS FEED
Pharma's Market
Text Size 
 |
CNBC.com |
] . CEO Fred Hassan was in Miami when doctors dropped the bomb on Vytorin and Zetia at the American College of Cardiology meeting.
And then he and his people shifted into crisis mode which resulted in the mid-week announcement of massive job cuts. I've occasionally mentioned this on the blog before, but because the drug industry is such a huge part of the NJ economy, the Star-Ledger has a handful of reporters covering pharma. But the paper kind of operates in the shadow of The New York Times and The Wall Street Journal. Nonetheless, it often cranks out stuff like this that you might not read anywhere else.
In her daily cholesterol-drug prescriptions note to clients, Catherine Arnold at Credit Suisse says on April 4th that Vytorin and Zetia combined had a 14.7 percent share of the total prescriptions in the segment. That's down from 16.3 percent pre-ACC. She's going to keep a close eye on the scripts for the next two months and says she expects "increased volatility" during that time.
Deutsche Bank's Barbara Ryan in a research note to clients this morning says there could be an immediate 15 percent drop in Vytorin/Zetia prescriptions from March levels. But she's not certain how much staying power it'll have. She writes: "The recommendation for use (of Vytorin and Zetia) 'as a last resort' seemingly comes with a stamp of consensus medical expert approval, which based upon our observations and conversations is NOT the case." The caps are hers.
 |
CNBC.com |
In the early going this morning, SGP is once again one of the top percentage gainers in the sector. Leading the way, though, is Wyeth [WYE
Loading...
()
] which was featured in a very bullish article in Barron's over the weekend and is the biggest dollar gainer.
Elan [ELN
Loading...
()
] is also benefiting from the Barron's write-up because the companies are partners on a promising Alzheimer's drug. Also from Barron's: Pfizer [PFE
Loading...
()
] now ranks 19th on the list of New York Stock Exchange companies with the largest short positions. According to the publication, the number of PFE shares being shorted went up 4.1 million, or 7.2 percent, from March 14th to March 31st.
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes