Pfizer Earnings Rise 9%, Topping Estimates
Pfizer reported Tuesday that its second-quarter profit increased 9%, handily beating analyst expectations, as it further cut costs and revenue jumped sharply due to its acquisition of Wyeth last October.
lipitor
AstraZeneca Stock Jumps After Court Ruling on Crestor
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.
Pfizer's Pipeline Looks Primed to Deliver
The stock of the world's largest drugmaker has been a laggard lately. But that could be soon changing if analysts who are pointing to a solid lineup of new products are right. They think the giant can easily offset the patent loss for Lipitor.
Pfizer Plans 6,000 More Manufacturing Job Cuts
For several years now, Big Pharma has been cutting massive numbers of jobs, so the announcement Tuesday from Pfizer, the world's largest pharmaceutical firm, that it will lay off 6,000 more people as part of a manufacturing reorganization shouldn't surprise anyone.
Inside Wall Street: A Cholesterol Drug Could Be Big
If promising early results of its cholesterol-busting drug RVX-208 get supported in larger clinical trials, it could put this young company on the map in a big way. A partnership with a major drugmaker is a very strong possibility.
Wider Approval for Crestor Brings Out Cynics
Earlier this week, AstraZeneca's widely used cholesterol-lowering drug Crestor was approved by the U.S. Food and Drug Administration for use in people with normal cholesterol to prevent heart attacks and strokes. The approval could lead to a much bigger market for Crestor, but has also led to a number of critics questioning the decision.
Crestor Backed by FDA for Patients With Normal Cholesterol
AstraZeneca scored a win on Tuesday, when a Food and Drug Administration advisory panel recommended broader use of Crestor, the company's cholesterol-lowering drug. The panel recommended that those with low cholesterol use the drug, following studies finding that Crestor reduces the risk of heart disease even in those with normal cholesterol levels.