Business: Pharmaceutical

The American flag is seen reflected in the Pfizer world headquarters building, Tuesday, July 22, 2008 in New York. Drug maker Pfizer says its second-quarter profit more than doubled as restructuring charges declined and the weak dollar helped lift overseas revenue. (AP Photo/Mary Altaffer)

Weak dollar, foreign sales boost drugmakers

AP - 1 hour, 56 minutes ago

TRENTON, N.J. - Profits posted Wednesday by Pfizer Inc. and Wyeth show a common theme among pharmaceutical companies — nearly all the growth they're seeing these days is overseas, driven by emerging markets and the weak dollar.

  • Top drug companies' earnings beat forecasts Reuters - Wed Jul 23, 9:59 AM ET

    LONDON (Reuters) - The world's two biggest drugmakers, Pfizer Inc and GlaxoSmithKline Plc , both beat expectations for quarterly earnings on Wednesday, as did Wyeth , indicating the sector's resilience.

  • Pharmaceutical giant Pfizer's New York headquarters. Pfizer, the US pharmaceuticals giant, said its second-quarter net profit more than doubled due to surging international sales and reaffirmed its 2008 outlook.(AFP/File/Henny Ray Abrams)
    Pfizer doubles profit on strong international sales AFP - Wed Jul 23, 9:57 AM ET

    NEW YORK (AFP) - Pfizer, the US pharmaceuticals giant, said Wednesday its second-quarter net profit more than doubled due to surging international sales and reaffirmed its 2008 outlook.

  • Pfizer profit doubles, but anti-smoking drug lags Reuters - Wed Jul 23, 9:14 AM ET

    NEW YORK (Reuters) - Pfizer Inc on Wednesday said quarterly earnings more than doubled on higher sales of its prescription drugs and lower expenses, but its Chantix quit-smoking drug lost more than a third of its U.S. sales amid safety concerns.

  • The Glaxo smith Kline (GSK) headquarters compund in west London. British pharmaceutical giant GlaxoSmithKline said that second-quarter net profits slipped owing to competition from generic drugmakers and sliding sales of diabetes drug Avandia.(AFP/File/Odd Andersen)
    GlaxoSmithKline announces strategy overhaul after weak profits AFP - Wed Jul 23, 8:30 AM ET

    LONDON (AFP) - British pharmaceutical giant GlaxoSmithKline said on Wednesday that net profits slipped during the second quarter owing to competition from generic drugmakers and poor sales of diabetes drug Avandia.

  • Pfizer profit doubles, but anti-smoking drug sags Reuters - Wed Jul 23, 7:49 AM ET

    NEW YORK (Reuters) - Pfizer Inc on Wednesday said quarterly earnings more than doubled on higher sales of its prescription drugs and lower expenses, but its Chantix quit-smoking drug lost more than a third of its U.S. sales amid safety concerns.

  • Glaxo to sell branded generics in emerging markets Reuters - Wed Jul 23, 4:28 AM ET

    LONDON (Reuters) - GlaxoSmithKline Plc , the world's second largest drugmaker, took a bold step into the branded generics marketplace on Wednesday via an alliance with South Africa's Aspen Pharmacare Holdings .

  • File picture shows a view of Merck offices in Lansdale, PA. The German pharmaceutical and chemical group posted Wednesday strong second quarter results despite negative foreign exchange effects, it said in a statement.(AFP/File/Tom Mihalek)
    Drug company Merck posts second quarter growth despite strong euro AFP - Wed Jul 23, 2:53 AM ET

    FRANKFURT (AFP) - The German pharmaceutical and chemical group Merck posted Wednesday strong second quarter results despite negative foreign exchange effects, it said in a statement.

  • The Roche logo on a building in Basel, Switzerland. The Swiss pharmaceutical group is to pay 125 million dollars (78.5 million euros) to buy American company Mirus Bio Corporation, as it seeks to boost its portfolio, the group has said.(AFP/File/Fabrice Coffrini)
    Roche to buy US-based Mirus Bio for 125 million dollars AFP - Tue Jul 22, 6:31 AM ET

    GENEVA, July 22, 2008 (AFP) - Swiss pharmaceutical group Roche Holdings will pay 125 million dollars (78.5 million euros) to buy American company Mirus Bio Corporation, as it seeks to boost its portfolio, the group said on Tuesday.

  • People pass a Wachovia branch office on Tuesday, July 22, 2008 in New York. Wachovia Corp. reported a surprisingly large second-quarter loss Tuesday, deflating Wall Street's hopes that the nation's big banks are weathering the credit crisis well. The nation's fourth-largest bank by assets said it lost $8.86 billion. (AP Photo/Mark Lennihan)
    Stocks slip on oil, drugs; Apple, Amex drop late Reuters - Mon Jul 21, 5:43 PM ET

    NEW YORK (Reuters) - Stocks slipped on Monday, as oil turned higher after last week's sharp drop and Merck and Schering-Plough hurt the pharmaceuticals sector.

  • Genentech mulls Roche offer as stock surges AP - Mon Jul 21, 4:45 PM ET

    SAN FRANCISCO - Biotechnology pioneer Genentech Inc. mulled Roche Holding's $43.7 billion offer for its remaining shares Monday as investors made clear their feelings that the Swiss pharmaceutical giant should pay considerably more.

  • Franz Humer, chairman of the board for Swiss pharmaceutical giant Roche Holding AG, presents the figures of the half-year report 2008 during a press conference in Basel, Switzerland, Monday, July 21, 2008. Roche Holding on Monday offered US$43.7 billion to take over the remaining shares of U.S. partner Genentech Inc. (AP Photo/Keystone, Georgios Kefalas)
    Roche offers $43.7B for rest of Genentech AP - Mon Jul 21, 12:34 PM ET

    GENEVA - Swiss pharmaceutical maker Roche on Monday offered $43.7 billion for the remaining shares of its U.S. biotech partner Genentech Inc., seizing the opportunity offered by the weak U.S. dollar to grab a bigger share of earnings from such Genentech drugs as the blockbuster cancer treatment Avastin.

  • File photo shows the logo of Swiss pharmaceuticals giant Roche on a building in Basel, Switzerland. Roche offered 43.7 billion dollars to acquire the remaining shares in US subsidiary Genentech, the bio-tech pioneer underpinning its dominance of the cancer treatment market.(AFP/File/Fabrice Coffrini)
    Roche in $43.7bln bid for last Genentech shares AFP - Mon Jul 21, 9:19 AM ET

    BASEL, Switzerland (AFP) - Swiss pharmaceutical giant Roche offered 43.7 billion dollars on Monday to acquire the remaining shares in US subsidiary Genentech, the bio-tech pioneer underpinning its dominance of the cancer treatment market.

  • File photo shows the logo of Swiss pharmaceuticals giant Roche on a building in Basel, Switzerland. Roche offered 43.7 billion dollars to acquire the remaining shares in US subsidiary Genentech, the bio-tech pioneer underpinning its dominance of the cancer treatment market.(AFP/File/Fabrice Coffrini)
    Roche in $43.7bln bid for remaining Genentech shares AFP - Mon Jul 21, 4:16 AM ET

    BASEL, Switzerland (AFP) - Swiss pharmaceutical group Roche announced Monday it was launching a bid for the outstanding shares in its US subsidiary Genentech for 43.7 billion dollars (27.5 billion euros).

  • Missing man's widow says he mixed booze with pills AP - Fri Jul 18, 11:41 PM ET

    NEW HAVEN, Conn. - The widow of a man who disappeared during their honeymoon cruise said Friday in court that he mixed prescription drugs with alcohol the night he vanished three years ago on the Mediterranean Sea.

  • The Barr Pharmaceuticals office in Pomona, New York. Israel's Teva Pharmaceutical Industries Ltd, the world's largest generic drug company, is buying US rival Barr Pharmaceuticals in a 7.46 billion dollar deal.(AFP/File/Don Emmert)
    Teva to buy Barr Pharma for more than $7 billion AP - Fri Jul 18, 4:06 PM ET

    TRENTON, N.J. - Teva Pharmaceutical said Friday it will buy rival generic drugmaker Barr Pharmaceuticals for nearly $7.5 billion in a move that will boost Teva's dominance as the world's biggest generic drugmaker.

  • The Barr Pharmaceuticals office in Pomona, New York. Israel's Teva Pharmaceutical Industries Ltd, the world's largest generic drug company, is buying US rival Barr Pharmaceuticals in a 7.46 billion dollar deal.(AFP/File/Don Emmert)
    Generic drug king Teva to buy Barr in $7.46bln deal AFP - Fri Jul 18, 12:07 PM ET

    WASHINGTON (AFP) - Israel's Teva Pharmaceutical Industries Ltd, the world's largest generic drug company, is to buy US rival Barr Pharmaceuticals in a 7.46 billion dollar deal, the companies said Friday.

  • Teva to buy Barr for $7.46 billion, boost generic lead Reuters - Fri Jul 18, 9:47 AM ET

    NEW YORK (Reuters) - Teva Pharmaceutical Industries, the world's largest generic drug company, said on Friday it would buy rival Barr Pharmaceuticals Inc for $7.46

  • The logo of Swiss drugs giant Novartis, seen here in mid January, in Basel, Switzerland. The pharmaceutical giant has posted a better-than-expected net profit for the second quarter of more than 2.2 billion dollars(AFP/File/Fabrice Coffrini)
    Novartis profits up 17 percent for second quarter AFP - Thu Jul 17, 2:01 AM ET

    BASEL (AFP) - Swiss pharmaceutical giant Novartis on Thursday posted a better-than-expected net profit for the second quarter of more than 2.2 billion dollars, up 17 percent from the same period last year.

  • Abbott profit tops forecast; drugs, devices shine Reuters - Wed Jul 16, 7:46 AM ET

    NEW YORK (Reuters) - Abbott Laboratories Inc on Wednesday said second-quarter earnings jumped 34 percent, beating its expectations, fueled by sizzling sales growth of its prescription drugs and medical devices.

  • Johnson & Johnson products are seen on the shelf, Tuesday, July 15, 2008 at a grocery store in Danvers, Mass. Health-care giant Johnson & Johnson said Tuesday its second-quarter profit rose 8 percent, beating Wall Street's forecast, on sharply higher sales of medical devices and consumer products including new nonprescription allergy pill Zyrtec. (AP Photo/Lisa Poole)
    J&J profit beats forecast, but drug sales dim Reuters - Tue Jul 15, 9:29 AM ET

    NEW YORK (Reuters) - Johnson & Johnson on Tuesday posted second-quarter earnings that beat Wall Street expectations, as strong demand for its medical devices and consumer products overshadowed negligible growth of prescription drugs.

  • Genentech sales beat expectations Reuters - Mon Jul 14, 8:13 PM ET

    LOS ANGELES (Reuters) - Genentech Inc on Monday reported higher-than-expected quarterly sales of its most important product, the cancer drug Avastin, and raised its earnings outlook for the year.

  • Genentech warns of anemia in Avastin combo trial Reuters - Mon Jul 14, 4:15 PM ET

    WASHINGTON (Reuters) - Genentech Inc has warned doctors about a type of anemia seen in patients treated with the company's blockbuster cancer drug Avastin in combination with Pfizer Inc's Sutent in a clinical trial, U.S. regulators said in a notice issued on Monday.

  • The Glaxo smith Kline (GSK) headquarters compund in west London. British pharmaceutical giant GlaxoSmithKline (GSK) has said it had signed a deal with Swiss peer Actelion worth a potential 3.3 billion Swiss francs (2.0 billion euros) for insomnia research.(AFP/File/Odd Andersen)
    GSK signs 3bln Swiss franc insomnia research deal with Actelion AFP - Mon Jul 14, 7:08 AM ET

    ZURICH (AFP) - British pharmaceutical giant GlaxoSmithKline (GSK) said Monday it had signed a deal with Swiss peer Actelion worth a potential 3.3 billion Swiss francs (2.0 billion euros) for insomnia research.

  • The logo of Swiss pharmaceutical company Roche's is seen during the general annual shareholders meeting of the company in Basel, March 4, 2008. (Vincent Kessler/Reuters)
    Roche to suspend HIV research, seeing no advances Reuters - Fri Jul 11, 6:16 PM ET

    NEW YORK (Reuters) - Swiss pharmaceutical company Roche Holding AG will suspend its HIV research because none of its pending medicines represent significant improvement over existing drugs, a company spokeswoman said on Friday.

  • The logo of pharmaceutical giant Sanofi Aventis is seen at their Berlin office. French pharmaceutical group Sanofi-Aventis launched a bid worth 1.655 billion euros (2.6 billion dollars) for the 74.12 percent of Czech company Zentiva it does not already own on Friday.(AFP/File/John Macdougall)
    Sanofi-Aventis bids 1.65 billion euros for control of Zentiva AFP - Fri Jul 11, 1:20 PM ET

    PRAGUE (AFP) - French pharmaceutical group Sanofi-Aventis launched a bid worth 1.655 billion euros (2.6 billion dollars) for the 74.12 percent of Czech company Zentiva it does not already own on Friday.

  • New pharma ethics rules eliminate gifts and meals AP - Fri Jul 11, 5:28 AM ET

    NEW YORK - Drug company sales representatives will have to stop doling out coffee mugs and pens that push their products when they visit doctor's offices. But they can still sneak in the occasional free lunch.

  • Hospital says its pharmacy error led to infant ODs AP - Thu Jul 10, 10:23 PM ET

    McALLEN, Texas - A hospital in Corpus Christi said Thursday that a mixing error that led to a blood thinner overdose in as many as 17 infants was caused by its pharmacy. Two of the babies involved have died.

  • File photo shows a logo of the Swiss drugs giant Novartis in Basel. Novartis said Thursday it had boosted its stake in biopharmaceutical firm Speedel by 51.7 percent and aimed to buy it out completely for 907 million Swiss francs (560 millions euros, 882 million dollars).(AFP/File/Fabrice Coffrini)
    Novartis eyes buy-out of biopharma firm Speedel AFP - Thu Jul 10, 3:49 AM ET

    ZURICH (AFP) - Swiss pharmaceutical giant Novartis said Thursday it had boosted its stake in biopharmaceutical firm Speedel by 51.7 percent and aimed to buy it out completely for 907 million Swiss francs (560 millions euros, 882 million dollars).

  • Prescription drugs easily purchased online: study Reuters - Wed Jul 9, 3:32 PM ET

    NEW YORK (Reuters) - Despite new efforts to regulate Internet pharmacies, 85 percent of sites selling controlled drugs do not require a prescription, researchers reported on Wednesday.

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