Biotech and Pharmaceuticals Pharmaceuticals

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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.

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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.

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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.

  • 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.

  • Genetech

    You have to wonder at markets and analysts for that matter. They are fickle creatures.

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    Roche Holdings' $43.7 billion bid to buy the rest of Genentech highlights drugmakers' growing reliance on biotech products.

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

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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.

  • 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.

  • 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.

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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.

  • I am out in the field today shooting a story in Boston for the upcoming big Alzheimer's meeting the end of this month. But I wanted to pass along this nugget dug up by Pharmalot's Ed Silverman: The Pfizer Exec And The $300K Helicopter Bill.

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    In Wednesday’s Web Extra Pete Najarian reveals why he thinks the solar trade is starting to turn. Also “if you want to get into drugs” Guy Adami has your play.

  • Lilly

    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.

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    Abbott Laboratories Wednesday said second-quarter earnings jumped 34 percent, beating its expectations, fueled by sizzling sales of its medical devices, Humira arthritis treatment and other drugs.

  • European stocks dropped 1.9 percent on Tuesday, knocked lower by growing fears over the fate of the financial services sector, but a steep fall in oil prices helped the market end above the session's lows.