The same drug development news that's hurting Eli Lilly shares might be good for Amgen and Sanofi-Regeneron.» Read More
The market cap of Dow component Johnson & Johnson is a whopping $200 billion. Abbott Labs is valued at less than half that. But think of ABT as kind of a mini-me JNJ because like Johnson & Johnson, ABT has cobbled together a similar three-siloed business of drugs, devices and consumer products.
Before I get to my favorite biotech saga, there are noteworthy, if not newsworthy, press releases out this morning from two takeout targets. Genentech put out a statement from the special independent board committee that's been appointed to handle the Roche buyout offer.
The Elanians have been pretty quiet in the wake of last week's bad news. and the stock getting about a two-thirds haircut. And I don't mean to rub salt in the wound.
A week after Bristol-Myers Squibb made its move for ImClone Systems, one of the people who made the biotech infamous could be getting out of the clink.
We reporters who cover biopharma are inundated with story pitches from companies and PR folks. Most of them go immediately into the electronic trash bin. But I couldn't let this one go so fast
Just before the opening bell this morning ImClone Systems put out a clearly Carl Icahn-inspired press release regarding last week's $60-a-share buyout offer from Bristol-Myers Squibb.
What a crazy week, right? Monday, Amgen had a huge upside revenue and earnings surprise. Tuesday, the Food and Drug Administration issued its new restrictions on the use of Amgen's anemia drugs in certain cancer patients. Later that same day, Elan and Wyeth released the big Alzheimer's drug test results.
I'm at the International Conference on Alzheimer's Disease--aka ICAD--in Chicago where we're waiting for the highly anticipated detailed test results on the promising experimental drug from Wyeth and Elan.
Amgen surprised the market late on a summer Friday by announcing positive test results from the big, crucial study of its experimental osteoporosis drug. The stock shot up after hours and continues to rally this morning.
Leerink Swann, which specializes in healthcare equities research, is out with a couple of noteworthy surveys--one on the collateral damage to Merck and Schering-Plough's Vytorin this week and the other on drug-coated stents from Abbott Labs, Boston Scientific, Johnson & Johnson and Medtronic.
So, yesterday I posited a theory that the weak American economy might be hurting sales growth of erectile dysfunction drugs. I wondered whether men might be cutting their pills in half and/or not filling their expensive prescriptions if they're having to tighten their belts.
On the Pfizer earnings conference call this morning Chairman and CEO Jeff Kindler kicked things off by calling this a "time of great uncertainty in the world economy and capital markets and significant challenges in our industry."
Yesterday while covering the press conference about the new study on Merck and Schering-Plough's Vytorin I quoted the lead researcher, Dr. Terje Pedersen of Ulleval University Hospital in Oslo, Norway, who said--and this is a direct quote: "However, we had a disturbing finding when we looked at safety."
The buyout offer from Swiss drug giant Roche has shares of DNA trading at their highest level in about two-and-a-half years and according to CNBC stock-stat maven, Robert Hum, if they close up at least 8.88% it'll be their biggest one-day percentage gain since April 15, 2005.
arr's Chairman and CEO Bruce Downey told me Teva's CEO Schlomo Yanai made the first move. But it didn't happen in a long-distance phone call from Tel Aviv to New Jersey. They say they were at an industry conference in Palm Beach outside some burger joint when the subject came up.
Teva Pharmaceutical Industries said on Friday it would buy rival generic drugmaker Barr Pharmaceuticals for $7.46 billion to expand its leadership in the U.S. market and fortify its presence in Europe.
More than ten years after Pfizer brought Viagra to market and brought erectile dysfunction out of the closet a new survey says a lot of men are still too embarrassed to talk about impotence with their doctor.
After a knee-jerk reaction to the downside after the closing bell yesterday to the surprising four-cent miss by Genentech, the shares are rallying big time in the early regular trading session.
Like so many people who knew Bobby Murcer or were fans of his, I was so sad to hear the news that he had passed away. I didn't know the man. And I only have vague childhood memories of then-Dodger Stadium announcer John Ramsey saying, "Bobby Murcer", when the "Yankee for Life" was playing for the Giants and Cubs at Chavez Ravine.
A few weeks ago I blogged about a couple analysts cautioning investors that shares of Irish drugmaker Elan would be volatile surrounding the Alzheimer's conference the end of this month.That has certainly proven to be the case, especially today as the second firm this week initiates coverage of the stock, but this time with a "Sell" rating.