Ahead of earnings Thursday, Pfizer announced plans to license a brain cancer drug from Avant Immunotherapeutics. Will Pfizer continue to buy its way to a promising drug pipeline?
The world's biggest pharma company is stepping up to the plate again. After the closing bell today PFE announced it's doing a deal worth up to $440 million over time with a baby biotech called Avant Immunotherapeutics.
After navigating what has to be one of the most frustrating paths to Food and Drug Administration approval of a new drug, the small biopharma company Pozen and its big pharma partner GlaxoSmithKline have finally emerged victorious.
Abbott Laboratories said Wednesday first-quarter earnings increased 34 percent on higher sales of its prescription drugs and medical devices and favorable foreign exchange factors.
Johnson & Johnson posted better-than-expected first-quarter earnings on Tuesday, sending its shares higher, as aggressive cost cutting helped offset plunging sales of anemia drugs hit by safety concerns and medicines facing generic competition.
Dow component and healthcare conglomerate (drugs, consumer products, medical devices) Johnson & Johnson beat and boosted. That's Wall Street jargon for earnings coming in higher than expectations and the guidance for the rest of the year being raised. So, why did the stock go down?
A new report in the Journal of the American Medical Association is highly critical of drugmaker Merck and its handling of the painkiller Vioxx.
It's not Carl Icahn. Earlier this month I blogged about a mysterious institutional investor taking a big stake in the ever-popular biotech Dendreon. DNDN's CFO was quoted as saying the secret admirer was familiar with biotech leading some to speculate it might be the billionaire activist investor who has taken stakes in Biogen-Idec, MedImmune and ImClone, just to name a few.
Forest Laboratories on Tuesday posted a better-than-expected profit, but shares fell 7.5 percent as the mid-sized drugmaker projected only slightly higher full-year earnings due to expenses to improve its product line.
AstraZeneca has settled U.S. patent litigation against India's Ranbaxy Laboratories over its top-selling drug, ulcer pill Nexium, securing future sales and sending its shares soaring.
Can we please get some upside earnings reports this quarter? No financial exposure here. Instead, this Dow Industrial has plenty of overseas business to be helped by the weaker dollar and guardedly optimistic expectations for key business segments.
On Friday I did a sidebar story on what might be ailing General Electric's healthcare business. (Disclosure: CNBC is owned by NBC Universal, which is a unit of GE). It was responsible for a penny of the earnings miss. On "Squawk Box" that morning CEO Jeff Immelt said the longer-than-expected closure of a manufacturing plant was partially to blame.
I know that a number of pharma and biotech PR people read this blog, so I wanted to hold up the Genentech earnings release as what I think is a great example of user-friendliness. It is really heads and shoulders above the quarterly communications that come out of most of the companies I cover.
This morning there's a plethora of stuff to blog about: the Takeda-Millennium deal, more commentary about Merck and Schering-Plough and the extent of the Vytorin/Zetia fallout, Genentech's biotech bellweather earnings after the closing bell today, just to name a few.
Takeda Pharmaceutical said it would buy U.S. firm Millennium Pharmaceuticals for $8.8 billion to boost its cancer drug business, in the biggest overseas acquisition by a Japanese drug maker.
He's expecting a full recovery – and more – for this company.
Pfizer and Nektar Therapeutics said Wednesday clinical trials of the inhaled insulin Exubera found increased cases of lung cancer, leading Nektar to end talks with potential partners to market the product.
CNBC and other media outlets have done a significant amount of reporting on cardiologists' reaction to the Vytorin/Zetia study and the effect the ACC panel's opinion might have on the heart doctors' prescription writing.
European corporate profits for the first quarter of 2008 are expected to hold up, but weaker economic growth resulting from the credit crisis and a stronger euro will take their toll on earnings later in the year.
This morning a little biotech company, Antigenics, announced that Russia has approved its kidney cancer drug Oncophage. It's the first so-called therapeutic cancer vaccine to win full-out approval anywhere in the world.