Biotech and Pharmaceuticals Pharmaceuticals

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  • Is Pfizer's Viagra "Sagging" With The Economy? Wednesday, 23 Jul 2008 | 12:18 PM ET

    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."

  • Pfizer Profit Doubles on Drug Sales, Lower Costs Wednesday, 23 Jul 2008 | 8:55 AM ET
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    Pfizer Wednesday said quarterly earnings more than doubled on higher sales of its prescription drugs and lower expenses, but its Chantix quit-smoking drug lost more than a third of its U.S. sales amid safety concerns.

  • Glaxo Earnings Rise 13%, Cautious on Outlook Wednesday, 23 Jul 2008 | 8:19 AM ET
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    GlaxoSmithKline's new chief executive set out plans to make the world's second largest drug maker a broader business with lower costs, but kept a cautious view on short-term prospects that knocked its shares.   

  • Merck KGaA Profit Rises, Slightly Misses Expectations Wednesday, 23 Jul 2008 | 1:53 AM ET

    German drugs and chemicals company Merck KGaA reported a 15 percent rise in second-quarter operating profit on Wednesday thanks to rising sales of liquid crystals and multiple-sclerosis and cancer drugs.

  • Merck And "Sex and the City" Strategy: Did It Work? Tuesday, 22 Jul 2008 | 2:38 PM ET
    Sex and The the City

    Recently I blogged about Merck advertising its cervical cancer vaccine Gardasil to a captive audience during trailers for the "Sex and the City" movie.

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    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."

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    Boston Scientific quarterly earnings fell 15 percent on declining sales of its drug-eluting stents and charges for acquisitions, divestitures and restructuring.

  • Schering-Plough Profit Falls but Tops Forecasts Monday, 21 Jul 2008 | 5:09 PM ET
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    Schering-Plough, whose shares fell earlier after its Vytorin cholesterol fighter failed another study, said its earnings fell 23 percent but beat forecasts.

  • Merck Limits Guidance; Posts In-Line Results Monday, 21 Jul 2008 | 5:03 PM ET
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    Merck  on Monday said it was not providing long-time financial forecasts as it assesses the impact of another failed study result for its Vytorin cholesterol fighter, which it produces with Schering Plough.

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    Vytorin, a cholesterol drug marketed by drugmakers Merck and Schering-Plough, failed to meet the main goals in a new study, released Monday.

  • Big Merger Deals Signaling Even Bigger Ones Ahead Monday, 21 Jul 2008 | 2:36 PM ET
    Deal, Handshake

    The recent spate of  takeovers, particularly in pharmaceuticals, represents the first step in what analysts expect to be a busier second half of the year for mergers and acquisitions.

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    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.

  • What's Genentech Really Worth? Monday, 21 Jul 2008 | 12:12 PM ET
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    You have to wonder at markets and analysts for that matter. They are fickle creatures.

  • Big Pharma Is Scrambling To Buy More Biotech Firms Monday, 21 Jul 2008 | 11:11 AM ET
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    Roche Holdings' $43.7 billion bid to buy the rest of Genentech highlights drugmakers' growing reliance on biotech products.

  • Merck, Schering Delay Earnings For Vytorin Update Monday, 21 Jul 2008 | 10:10 AM ET
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    Merck and Schering-Plough delayed the release of their quarterly  financial results so investors could first learn the outcome of a new study of their Vytorin cholesterol fighter, and both drug makers' shares fell on jitters about the impending trial data.

  • Roche May Have to Boost Genentech Bid Monday, 21 Jul 2008 | 8:51 AM ET

    Roche's $43.7 billion offer to buy Genentech may not be the last one, Birgit Kulhoff, pharmaceuticals analyst at Rahn & Bodmer told CNBC Monday.

  • Roche Offers to Buy Out Genentech for $43.7 Billion Monday, 21 Jul 2008 | 6:33 AM ET
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    Swiss drugmaker Roche Holding offered to acquire all outstanding shares in its U.S. partner Genentech for $43.7 billion in cash to reinforce its position in cancer medicines.

  • Teva & Barr Get Super-Sized Friday, 18 Jul 2008 | 1:59 PM ET
    The Horsham, Pa., offices of Teva Pharmaceuticals North America are shown Monday, July 25, 2005.   In a deal that will create the world's largest generic drug company, Teva Pharmaceutical Industries Ltd. said Monday it is acquiring rival Ivax Corp. for about $7.4 billion (6.13 billion euros) in cash and stock. Ivax shares climbed 10 percent in morning trading.  (AP Photo/George Widman)

    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 to Buy Barr for $7.5 Billion, Boosts Generic Lead Friday, 18 Jul 2008 | 10:41 AM ET
    The Horsham, Pa., offices of Teva Pharmaceuticals North America are shown Monday, July 25, 2005.   In a deal that will create the world's largest generic drug company, Teva Pharmaceutical Industries Ltd. said Monday it is acquiring rival Ivax Corp. for about $7.4 billion (6.13 billion euros) in cash and stock. Ivax shares climbed 10 percent in morning trading.  (AP Photo/George Widman)

    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.

  • Novartis Earnings Beat Forecasts, Dollar Helps Thursday, 17 Jul 2008 | 12:17 PM ET
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    Second-quarter net profit at Novartis rose 17 percent to $2.27 billion, helped by the weak U.S. dollar and cost cutting efforts, beating forecasts and boosting its shares.