Drugmaker Eli Lilly Plans to Cut Hundreds of Sales Jobs
Eli Lilly plans to cut hundreds of workers from its U.S. sales force as the drugmaker prepares to deal with the loss of patent protection for two more top-selling drugs.
Eli Lilly plans to cut hundreds of workers from its U.S. sales force as the drugmaker prepares to deal with the loss of patent protection for two more top-selling drugs.
Among the events that will move the stock market this week -- big changes for a smartphone pioneer in trouble, and a big debut for a video streaming service trying to keep its momentum. Here's your quick guide to the days ahead on Wall Street.
The S&P 500 closed at 1,466 Friday, the highest since Dec. 31, 2007, before the financial crisis. That's a gain of seven points on the day.
This is an interesting question because many people believe that $1 million is a comfortable amount to meet their retirement goals. We can also look at the different ways in which a couple can use this $1 million without running out of money.
Stocks rose on Monday after a strong gain in retail spending suggested that consumers could be getting more confident about the economy. Bank stocks rose broadly after Citigroup delivered a strong earnings report.
Stocks slumped Tuesday on Wall Street after the International Monetary Fund predicted weaker world economic growth and as investors waited for what they expected to be lower corporate earnings.
Stocks opened lower Friday but reversed course after a letter surfaced from Federal Reserve Chairman Ben Bernanke, suggesting there was room for the central bank to do more to help the economy.
The Commerce Department says orders for long-lasting factory goods, such as computers and industrial machinery, fell in July. That excluded gains from the transportation category, which is volatile and rose largely because of orders at Boeing.
It's widely known that millionaires and billionaires pay taxes at a lower rate than those of us who make much less. But did you know that Americans collectively pay far higher income tax rates than many U.S. companies with billions of dollars in profits?
Drug companies spend hundreds of millions of dollars a year to influence doctors' prescribing habits -- money that often goes directly into physicians' pockets for "consulting fees" and "educational presentations." Wondering if your doc is one of them? The nonprofit journalists at ProPublica can tell you.
Officially, it's the FDA's job to ensure that pharmaceutical ads adhere to guidelines. But the agency's annual compliance budget is $9 million, while drug companies spend $58 billion a year on marketing. So it comes as no surprise that only 18% of ads are in compliance with the rules. But it's still disturbing: This is your health.
They call it the Great "Recession," but there's no question that these are depressing times. And doctors are writing scripts for antidepressants at an alarming rate -- especially given that many of these doctors aren't psychiatrists. What are the effects on patients who haven't been properly screened?
The pharmaceutical industry is ready to fall off a cliff -- a "patent cliff." Over the next few years, some of the world's most popular and lucrative medicines will go off patent, and generic competition will siphon an estimated quarter of a trillion dollars from drugmakers' bottom lines.
From October 2010 to February 2011, biotech Clinical Data's stock doubled, mostly thanks to FDA approval of its novel antidepressant. But also pushing the stock up -- and making it likely to perhaps double again -- is speculation that a Big Pharma will buy Clinical Data.
To get potentially lifesaving drugs to patients faster, the U.S. Food and Drug Administration is allowed to approve some drugs -- those that address unmet medical needs -- based on fewer trials than usual. But it turns out that many of the pharmaceutical companies fail to conduct follow-up trials to prove the drugs work.














