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.
AstraZeneca and Pozen announced Monday that their pain reliever Vimovo for the treatment of arthritis had received positive agreement for approval by the 23 E.U. nations. Vimovo is a combination drug that reduces the risk of ulcers for frequent NSAID users.
Global pharmaceutical sales are expected to grow by 5% to 7% in 2011, thanks to robust growth in emerging markets, especially China, as well as new innovative treatments, and despite patent expirations and budget pressures in the developed world.
Federal investigators are looking into allegations that major drug companies, including Merck, AstraZeneca, Bristol-Myers Squibb and GlaxoSmithKline, paid bribes overseas to boost sales and accelerate approvals.
It's a busy day at the FDA today as panels meet to discuss two new drugs -- one to help weight loss and the other to combat drug addiction -- and decide whether to approve AstraZeneca's new blood thinner medication.
Several recent studies of drugs used to treat and prevent strokes appear to favor AstraZeneca's (AZN) Brilinta and Eli-Lilly's (LLY) Effient over Plavix. Plavix, co-marketed by Bristol-Myers Squibb (BMY) and Sanofi-Aventis (SNY), is the second best-selling drug in the world.
Though the threat of H1N1 infection remains, the World Health Organization has declared an end to the Swine Flu pandemic, citing "pure good luck" to explain why the disease wasn't as lethal as feared.
Foreign subsidiaries of two American tobacco companies pled guilty to charges of bribing foreign countries. Units of Alliance One Int'l, a N.C.-based global tobacco leaf company, admitted bribing Thai and Kyrgyz officials and will pay $9.25 million in fines and disgorge $10 million in profits.
AstraZeneca's core earnings per share rose 9% in the second quarter, helped by a strong performance in emerging markets. While the British pharmaceutical warned the rest of the year will be "challenging," it also raised its 2010 earnings forecast for the third time this year.
Hot summer weather got us thinking about short summer haircuts, which is as good a reason as any to take a close look at some consumer staples stocks. Save for utilities, no other sector has held up as well in a down market.
AstraZeneca shares surged by almost 9% Tuesday after the company scored a win in court regarding the patent for its cholesterol treatment, Crestor. The ruling means that AstraZeneca won't have to worry about generic competition for its multibillion-dollar statin until 2016.
Merck (MRK) today announced that the U.S. Food and Drug Administration has approved its respiratory drug Dulera for Asthma patients 12 years of age and older. Dulera is a new two-in-one, fixed-dose combination, which was developed by Schering-Plough and then inherited by Merck when it acquired its smaller rival last year.
Pharmaceutical sales representatives have been battered during the recession -- thousands were laid off by drugmakers hunting for ways to trim their budgets. But even if the economy recovers with a vengeance, don't expect pharmaceutical firms to go on a hiring binge.
