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Biotech and Pharmaceuticals Pharmaceuticals

  • Anthem said it would save $4 billion annually in the new contract with drug retailer CVS Health Corp, which will handle prescription fulfillment and claims processing starting in 2020 for five years for the new company, called IngenioRX. Anthem shares rose 3.1 percent, or $5.93, to $193 in Wednesday afternoon trading, while CVS shares were up 2.3 percent at...

  • Abbott forecast full-year adjusted 2017 profit from continuing operations of $2.48- $2.50 per share. It had earlier expected earnings per share of $2.43- $2.53. Several devices received U.S. Food and Drug Administration approvals in the quarter, including Abbott's FreeStyle Libre glucose monitoring system and two of its heart devices- HeartMate 3 and...

  • Anthem, which sued the pharmacy benefit manager last year over claims of being overcharged by $3 billion annually, said it would use drug retailer CVS Health Corp to handle prescription fulfillment and claims processing for five years for the new company, called IngenioRX. Leerink analyst Ana Gupte estimated that No.2 health insurer Anthem's prescription...

  • Anthem, which has said Express Scripts overcharged it by $3 billion annually through unfavorable prices, said it would use drug retailer CVS Health Corp to handle prescription fulfillment and claims processing for five years for the new company, called IngenioRX. Leerink analyst Ana Gupte estimated that No.2 health insurer Anthem's prescription business...

  • Woman having a mammography scan.

    Regulators have granted a priority review to AstraZeneca's ovarian cancer drug Lynparza as a treatment for breast cancer.

  • Oct 18- U.S. drugmaker Eli Lilly and Co said on Wednesday it will collaborate with CureVac AG on development of up to five immunotherapy cancer vaccines using the German company's messenger RNA technology. Under terms of the deal, CureVac will receive $50 million up front and Lilly will take an equity stake in CureVac worth about $53 million.

  • Oct 17- A U.S. judges ruling on Monday invalidating Allergan Plc's patents on its blockbuster $1.5 billion dry-eye medicine, Restasis, has cast doubt on the company's novel strategy to enlist a Native American tribe to help shield those patents from challenge by generic drugmakers, legal experts said. In a deal announced last month, Allergan transferred the...

  • Oct 17- Johnson& Johnson posted better-than-expected third-quarter earnings, raising its full-year forecast due to growth from new cancer drugs and high-margin treatments picked up in its $30 billion acquisition of Actelion earlier this year. Shares of J&J, part of the Dow Jones Industrial Average, rose 3.4 percent to $140.79 on Tuesday.

  • Oct 17- Johnson& Johnson posted better-than-expected third-quarter earnings, raising its full-year forecast due to growth from new cancer drugs and high-margin treatments picked up in its $30 billion acquisition of Actelion earlier this year. Shares of J&J, part of the Dow Jones Industrial Average, rose 2.4 percent to $139.37 on Tuesday.

  • Bill George: Trump is right, drug prices are out of control

    Bill George, CNBC contributor and former Medtronic CEO, discusses President Trump's rhetoric on prescription drug pricing in the country.

  • WASHINGTON, Oct 17- President Donald Trump said on Tuesday that Tom Marino, his pick as the U.S. drug czar, has withdrawn after it became public that the congressman advocated for legislation undermining the government's ability to crack down on pharmaceutical companies that play a role in the nation's opioid crisis. Trump had pegged Marino, a Pennsylvania...

  • Rep. Tom Marino, R-Pa.

    A WashPost/CBS investigation said Marino was the "chief advocate" for a drug industry-friendly law that hobbled the fight against opioid abuse.

  • JNJ CFO: We price our products responsibly

    Dominic Caruso, Johnson & Johnson CFO breaks down the company's quarterly results and weighs in on whether he expects to see disruption in Puerto Rico manufacturing, and comments on drug pricing.

  • Trump: I'm not interested in drug companies' money

    CNBC's Eamon Javers reports on President Trump's agenda, including meeting with GOP leader Mitch McConnell, making lower prescription drug prices a priority and possibly delaying tax reform until 2018.

  • Donald Trump

    President Donald Trump on Monday complained that drug prices are too high and said "massive" campaign contributions to Congress are partly to blame.

  • Judge William Bryson issued the ruling in federal court in Marshall, Texas, in a longstanding dispute between Allergan and generic drugmakers Mylan NV, Teva Pharmaceutical Industries Ltd and Akorn Inc.. "What Allergan seeks is the right to continue to enjoy the considerable benefits of the U.S. patent system without accepting the limits that Congress has...

  • Donald Trump

    Barbara Ryan, Barbara Ryan Advisors, discusses President Trump's claims that pharmaceutical companies are "getting away with murder" with prescription drug pricing.

  • Judge William Bryson issued the ruling in federal court in Marshall, Texas, in a longstanding dispute between Allergan and generic drugmakers led by Mylan NV and Teva Pharmaceutical Industries Ltd.. The drug generated around $1.5 billion in sales for Allergan last year and accounted for more than 10 percent of the company's revenue. Senator Claire McCaskill...

  • Oct 16- Shares of pharmaceutical company Allergan Plc dropped on Monday after a ruling by a U.S. judge invalidated patents on its dry eye medicine Restasis on the grounds that the patents cover obvious ideas. Judge William Bryson issued the ruling in federal court in Marshall, Texas, in a longstanding dispute between Allergan and generic drugmakers led by Mylan...

  • Oct 16- A U.S. judge on Monday invalidated patents issued to Allergan Plc on its dry eye medicine Restasis, saying they covered ideas that were too obvious to protect. Judge William Bryson issued the ruling in federal court in Marshall, Texas, in a longstanding dispute between Allergan and generic drugmakers led by Mylan NV and Teva Pharmaceutical Industries...