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European stocks closed sharply higher Tuesday, after U.S. billionaire investor Warren Buffett inspired a late rally by offering to take on $800 billion worth of debt insured by top bond insurers.
Schering-Plough is bringing up the rear of big pharma earnings season this morning--it reported later than normal because it apparently took longer to do all the accounting for a big acquisition--with a beat on the top and bottom line. But investors, as is usually the case, are more concerned about guidance.
Schering-Plough Tuesday reported a quarterly loss as special charges from its acquisition of Organon Biosciences late last year offset sharply higher sales, but results beat Wall Street expectations.
Anyone who has followed the Dendreon/Provenge saga knows there are a lot of passionate people attached to it. And apparently one of them may go by the name Mike Huckman. Last night it was brought to my attention that my name appears (or appeared) on line 277 of this online petition.
Shares of Allergan are taking a big hit today after the Food and Drug Administration announced it's putting out an "Early Communication" (Translation: We're reviewing some reports of adverse events, but in the meantime, doctors and patients should be vigilant) regarding potentially fatal side effects of the popular muscle relaxant Botox.
In their stump speeches and debates, Hillary Clinton and Barack Obama often talk about pushing back against the Washington influence of the powerful pharmaceutical lobby and keeping drug company profits in check.
GlaxoSmithKline forecast lower 2008 earnings due to falling sales of diabetes drug Avandia and increased generic competition, sending shares in Europe's biggest drugmaker down 7.6 percent on Thursday.
Shares of GlaxoSmithKline this morning are getting hammered because the company announced it expects earnings per share to fall by a mid-single digit percentage this year. Analysts thought they'd grow by three percent.
Reaction to part of a big government-sponsored diabetes drug study being halted over fatalities is pouring in from several corners. The American Diabetes Association put out a press release saying it "strongly encourages people with diabetes not to alter their course of treatment without first consulting with their health care team...
I'm blogging a little later than usual because I got sidetracked by the breaking news on the government stopping part of a big diabetes drug study over safety concerns--more people died in a group that was being intensively treated to get their blood sugar levels below current recommendations.
Heart patients with drug-coated stents who stop taking the popular bloodthinner Plavix are quickly put at a higher risk of death, according to a new study published in the "Journal of the American Medical Association."
Yes, it was a big down day for equities, but I wanted to call attention to the fact that according to one of our resident stock gurus, Robert Hum, the Amex Pharmaceutical Index (you can see the 15 stocks that make up the so-called DRG here) closed at a two-year low today.
Sales of drug-coated stents, Boston Scientific's most profitable products, came in at the low end of the company's guidance in the fourth quarter. Stents are the fragile little wire mesh cylinders that act like scaffolding to prop open clogged arteries.
The Food and Drug Administration continues to get a lot of attention and scrutiny. In an editorial over the weekend "The New York Times" wrote, "The F.D.A. desperately needs an infusion of money and talent." Then, "USA Today" today is running a front-page article on something I recently blogged about and other reporters tackled a few weeks ago regarding the agency approving so few drugs last year.
Pfizer tried to get out in front of the psychiatric side-effect issues on its stop-smoking drug by adding information about behavioral changes, mood swings, thoughts of suicide, etc. to the label last month.
Medtronic on Friday received federal approval to sell its drug-coated stent, the first to hit the U.S. market since safety concerns sank their popularity two years ago.
The main flu virus circulating in the United States and Canada has shown "elevated resistance" to the antiviral drug Tamiflu, in line with findings in parts of Europe, the World Health Organisation (WHO) said on Friday.
It's a new month. Time to clean out the inbox. Regarding my post earlier this week about Sen. Chuck Grassley's office breaking the "Nature" embargo on the leak of the GlaxoSmithKline Avandia study, I heard from the "Nature" article reporter.
I just got off the phone with the Chief Operating Officer of PR Newswire, Dave Armon, who says the discrepancy between the two Bristol-Myers Squibb earnings press releases I've been blogging about was due to an information technology glitch at PR Newswire.
Operating profit at Denmark's Novo Nordisk slipped 2 percent last year but still beat analysts' expectations due to strong sales growth in the US and China, company CEO Lars Rebien told "Worldwide Exchange" on Thursday.