TRENTON, N.J.— After weeks of criticism from patients, doctors and other drugmakers for hiking a life-saving medicine's price more than fifty-fold, Turing Pharmaceuticals is reneging on its pledge to cut the $750- per-pill price. Carlos del Rio, chairman of the HIV Medicine Association, called Turing's changes "just window dressing." Turing's move comes after a...» Read More
Traders will be glued to the web Thursday night as thousands of cancer studies go online. What’s the trade as these studies potentially send shock waves through biotech stocks on Friday morning?
This is gonna be a crazy couple of days. At 9 pm ET tonight the American Society of Clinical Oncology is putting nearly 5,000 studies on its website all at once. Although ASCO says it's all about the science and protecting the "scientific integrity" of its upcoming conference, this is, frankly, an attempt to level the playing field for Wall Street.
I like to think I have a nose for news. And, some might say, too much of a penchant for puns and alliteration. Impotence drug profits won't be going up big pharma's nose. The tiny New Jersey-based biotech company Palatin Technologies says it's giving up on its experimental nasal spray for erectile dysfunction.
I realize it's become a bit of a tired tagline, but through the magic of live webcasts what happens in Vegas doesn't stay in Vegas. This morning Dendreon was first at bat at the Bank of America Healthcare Conference in Sin City.
So, I admit I watched a lot of television last night and saw a commercial for a relatively new osteoporosis-breast cancer prevention combo drug from Eli Lilly called Evista. Actually, I saw it three times.
Occasionally -- when the bosses will let me -- I take a day to network, learn and maybe pick up a story idea by attending a biotech or healthcare investment conference. Many firms put on the events for their clients and they often invite reporters to hang out. ... The PR guy told me a couple of sessions during the day would be "closed" to me. It wasn't clear what the closed sessions were all about, and so my curiousity was piqued...
Amgen is in major belt-tightening mode. Still it held its annual shareholder shindig at the swanky Four Seasons Hotel in Westlake Village, CA. The 400-500 investors who showed up were treated to valet parking, soft drinks, and a nice spread of cheeses, vegetable crudite, fruit and sweets
The market can swing as much on sentiment as fact. Investors would be wise to remember this.
Haim Israel of Merrill Lynch in Jerusalem has some ideas about smaller Israeli companies that might have escaped the attention of U.S. investors.
There's no money left under the pillow, but Amgen execs and directors have been handed a gift. One of the most outspoken, large, individual investors in the biotech company who's been calling for the Board and CEO to go won't be attending its annual shareholder meeting after all.
Too few influential doctors are telling the public if they have financial ties to the companies that make lifesaving drug-coated stents.
After the closing bell yesterday, Merck announced that it plans to get rid of 12-hundred or around 15 percent of its sales reps. Like Schering-Plough, the company is having to adjust to lower sales of its Vytorin and Zetia cholesterol drugs and on top of that the Food and Drug...
A host of news out of France on Tuesday, with Alstom down more than 2 percent on reports that officials are investigating it for bribery.
If so, Cramer says it could be a great move for this company.
While thumbing through “Parade” magazine yesterday, the fluffy publication that you find tucked inside some Sunday newspapers, I noticed an ad for Pfizer’s stop-smoking drug Chantix. It caught my eye because the company had stopped doing what’s called “branded” advertising for the pill earlier this year because of new safety concerns...
It's the kind of artwork I'm sure they weren't happy to see at Pfizer spacer headquarters this morning. The torn company logo on the front page of the Newark Star-Ledger business section above the headline, "Signs of Wear and Tear."
I didn't post yesterday because I was in Philadelphia shooting a story for an upcoming episode of "The Business of Innovation" on CNBC. It's a piece about big pharma and we went to Philly to interview the still very busy former CEO of Merck (two CEOs ago), Dr. Roy Vagelos.
A fight has erupted in Congress over the question of whether drug makers and other companies should be allowed to keep patents they obtained by misrepresentation or cheating, The New York Times reports.
Earnings out of Europe were mixed Wednesday as telecom giant Alcatel-Lucent cuts its telecom market forecast and reported a bigger-than-expected first-quarter net loss.
The markets dropped a bit as investors eagerly await Wednesday's rate decision. Find out what was moving in the Word on the Street.