As we head into the weekend (TGIF, right?), I wanted to clean out the ol' inbox.
I don't think Eli Lilly will be running any more "Coming Soon" ads--like the one posted here for its late-stage experimental bloodthinner Effient--for drugs that haven't been approved yet by the Food and Drug Administration.
On the Genentech third quarter earnings conference call analysts, investors and reporters were hoping to get some color on the status of the Roche play for the rest of DNA it doesn't already own.
Since there should really be no compelling reason to blog or report on Dendreon and Provenge for quite awhile, here's one last hurrah.
In my reporting, I always try to keep it simple. Particularly in the middle of the credit crisis, too much financial jargon goes over the heads of most people. The same can be said for biopharma coverage.
Pretty much all of biopharma is caught in the downdraft of the markets today with the notable exception of Dendreon (data) and ImClone Systems (a deal).
Okay, what were the chances that ImClone would get bought and Dendreon would come out with its interim test results on the same morning? Slim to none, I'd say. But that's exactly what the news gods had in store for two of the hottest names in biotech.
With three drugs up for FDA approval by the end of the year, this stock could see a sizable increase in earnings.
Plus, Cramer speculates on where the shorts could hit next.
As all eyes remain on Capitol Hill, things remain relatively quiet on the biopharma front. So, it's a good time to go through the Pharma's Market mailbag. The overwhelming majority of emails recently have been about...yeah, you guessed it...Dendreon.
"The Wall Street Journal" unmasked the identity--Eli Lilly--of ImClone's secret suitor. A spokesman for LLY said he couldn't confirm or deny the report. IMCL put out a press release last night saying that the mystery bidder has asked to remain anonymous.
Congressional leaders "sweeten" the $700 billion financial rescue package to attract enough House members, particularly Republicans, to pass the plan that failed in the House just two days ago. In the meantime, billionaire investor Warren Buffett takes opportunity of the rocky markets to invest $3 Billion in GE, the parent company of CNBC. Following are today's top videos:
The Fast Money traders told you the bottom won’t be in, until there’s panic like never before. Wait...
While the Street is focused on the big vote in the Senate tonight on the bailout package, biotech investors will be on the lookout for news out of ImClone Systems. Earlier this week the company announced that its mystery counter-bidder will decide whether to follow through on its $70-a-share offer by midnight tonight.
Eli Lilly has been running direct-to-doctor ads over the past few months telling physicians that Effient, the company's new bloodthinner, is "Coming Soon". Well, it may have jumped the gun.
Today is the day the FDA is expected to make a decision on the drug. The agency could approve it outright, approve it with conditions/limitations, delay making a decision--again--and order more tests, or reject the pill.
There are reports of booze, women and beads--as in Mardi Gras beads. Specifically, the piece cites allegations from a lawsuit brought by a former MDT attorney who says the medical device maker sponsored a "discussion group" outing to New Orleans.
A first-of-its-kind study shows that putting hundreds of thousands of American heart patients on drugs instead of giving them a stent could save the country billions of dollars a year.
I've been under the weather and too lethargic to even blog for a couple days, but nuthin' like a good ol' fashioned corporate war of words to get me goin' again.
Pharmas, energy, information technology and industrials are still good defensive plays, Grant Bowers, portfolio manager at Franklin Templeton Investments, told "Worldwide Exchange."