If gasoline or jobs or milk were in short supply, we'd all know about it. But unknown to most Americans, the country is now in the grips of a life-threatening drug shortage. Medical professionals are quite aware of it, however, and they're deeply concerned.
Calling all investors: You'll want to pay close attention in the days ahead. The mid-term elections, FOMC meeting, retail sales figures, an update on the labor market and more earnings from Toyota, Starbucks and more could set the stage for quite an interesting week on Wall Street.
Big Pharma didn't rest Thursday, with Celgene, Sanofi-Aventis and AstraZeneca among the big names reporting earnings. A deal between Stryker and Boston Scientific and Sanofi and BMP Sunstone also made the headlines, as did some hiring from Teva. Bristol-Myers Squibb received the anticipated new approval for one of its cancer drugs. But it was Celgene that led drug stocks higher.
Teva Pharmaceutical Industries said Tuesday that the U.S. Food and Drug Administration approved its generic version of Pfizer's antidepressant Effexor XR, or Venlafaxine.
The largest generic drugmaker and the largest pharmaceutical company fought yet another round in the six year legal battle over ulcer drug Protonix. In this round, Teva Pharmaceutical Industries lost when a jury found on Friday that the patent for Protonix is valid.
The Feds -- and consumers -- may finally have had it with 'pay-for-delay.' In these deals, generic drug companies that challenge a patent held by a name-brand pharmaceuticals agree to settle by delaying their entry into the market in return for a payment. But regulators are now calling for laws to end the practice.
Company news that could affect stock prices today including: a Swiss court's decision that chief financial markets regulator broke the law when it ordered UBS AG to give the U.S. data about its clients, and Teva Pharmaceutical Industries' withdrawal of its appeal of a U.S. court ruling that favored Merck and its patent on the asthma treatment Singulair.