Teva Pharmaceutical Industries Ltd. announced the departure of its chief executive officer after just three years and said it would undertake a thorough review of its business, leaving the world’s largest generic-drug maker without a permanent leader following lowered profit forecasts that sent the share price plunging. CEO Erez Vigodman has stepped down, and Chairman Yitzhak Peterburg will hold the job on an interim basis while a search is conducted for a successor, the Petach Tikva, Israel-based company said in a statement late Monday.
Category: Medicine
Teva CEO Is Out After Being Hired to Turn Around Drugmaker
Teva Pharmaceutical Industries Ltd.’s Erez Vigodman will step down as chief executive officer, three years after being hired to turn around the Israeli drugmaker. Chairman Yitzhak Peterburg will serve as interim CEO while the company looks for a replacement, Teva said in a statement Monday.
Better Buy: HCP, Inc. vs. Ventas
Both have similar property portfolios, pay similar dividends, and have similar long-term strategies. Here’s a comparison of these two REITs, and which one could be the better buy now.
3 Crucial Questions Gilead Sciences Should Answer Tuesday
It’s the most wonderful time of the quarter. The time when every business cracks open its books and tells us what’s going on.
Here’s the Average American’s Annual Medicare Bill
The short answer is that the average American with “original Medicare” can expect to pay a total of $7,620 out of pocket for healthcare expenses this year. However, that number doesn’t tell the whole story.
Why Seniors Hate This Medicare Plan “Fix”
Medicare provides a critical healthcare safety net to tens of millions of American seniors, but the program’s costs are soaring as more baby boomers sign up and healthcare gets more complex, and that’s got Washington, D.C., lawmakers trying to come up with fixes to keep the program on solid financial footing. Unfortunately, these fixes could cause significant changes to Medicare that impact choice and cost sharing and, unsurprisingly, that’s drawn the ire of budget-conscious seniors, and organizations, including AARP, that advocate for them.
California Sues Teva, Allergan for Allegedly Blocking Generic Competition to Lidoderm
The state of California has filed a civil suit against units of drugmakers Teva and Allergan , for allegedly obstructing generic competition to Lidoderm transdermal patches. The suit, filed in federal court in San Francisco, alleges a “pay-for-delay” deal between the companies and Endo Pharmaceuticals, which already had its Lidoderm product on the market and had made $825 million off of it in 2011.
Why The Medicines Company Rocketed Higher Today
Amgen’s PCSK9 inhibitor Repatha “significantly” reduced the risk of cardiovascular events — heart attacks, strokes, and the like — compared to placebo. Investors will have to wait until the American College of Cardiology meeting next month to find out how significant the reduction was.
Pacific Biosciences of California Reports Bigger Loss in Q4
That good news wasn’t enough to keep shares from continuing to fall, though. The genetic-sequencing company announced its fourth-quarter results after the market closed on Thursday.
Amgen beats Street 4Q forecasts
The Thousand Oaks, California-based company said it had net income of $2.59 per share. Earnings, adjusted for non-recurring costs, came to $2.89 per share.
Amgen Cholesterol-Lowering Drug Repatha Cuts Heart-Related Adverse Events in Big Study
The outcome of the so-called ‘FOURIER’ trial is extremely important for Amgen because the data will be used to lobby insurance companies to reimburse for Repatha. Amgen said Wednesday that its cholesterol-lowering drug Repatha achieved all efficacy endpoints in a closely watched clinical trial by reducing the risk of adverse cardiovascular events, including death.
Reckitt Targets Mead Johnson With Surprise $16.7 Billion Bid
Reckitt Benckiser Group Plc emerged as a surprise suitor for perennial bid candidate Mead Johnson Nutrition Co., starting talks on a $16.7 billion purchase of the baby food maker to build its faster growing consumer-health business and bolster its presence in Asia. The maker of Lysol cleaners said late Wednesday it’s in advanced negotiations to acquire the U.S. company for $90 a share in cash in what would be the second-biggest acquisition by a U.K. company since the Brexit vote.
Merck scores a hit with Keytruda, watches spending in 4Q
Merck & Co.’ s new cancer medicine Keytruda, a blockbuster nearly overnight, along with aggressive and ongoing cost cuts, helped to boost fourth-quarter profits by 21 percent.
Merck Matches Profit Expectations But Sales Come Up a Bit Short
Merck & Co. Inc. reported Thursday fourth-quarter earnings that rose to $1.18 billion, or 42 cents a share, from $976 million, or 35 cents a share, in the same period a year ago.
Synergy Pharma Stock Sinks 12.5% After Announcement Of Common Stock Offering
Synergy Pharmaceuticals Inc. shares sunk 12.5% in pre-market trade Wednesday after the company said it would offer 20 million shares of its common stock at $6.15 per share. Synergy shares were priced at $7.07 as of Tuesday’s close.
Pfizer Profit, Forecast Fall Short as Generics to Hurt Sales
Pfizer Inc. posted fourth-quarter earnings and a forecast for 2017 that were both short of analysts’ estimates, as the drugmaker said it will lose billions of dollars in revenue as products lose exclusive sales rights. Revenue in 2017 will be $52 billion to $54 billion, Pfizer said in a statement Tuesday, compared with the $54.3 billion average of analysts’ estimates compiled by Bloomberg.
Teva Plunges After U.S. Judge Invalidates Four Copaxone Patents
Teva Pharmaceutical Industries Ltd. plunged to the lowest in more than a decade following a U.S. court ruling that invalidated four patents on its best-selling multiple sclerosis drug Copaxone. The ruling, issued late on Monday, may open the door to generic competition for a drug that generates a fifth of Teva’s $20 billion in annual sales.
Related Article: There May Be a Buying Opportunity When Pfizer Shares Hit This Important Level
Shares of Pfizer have been on the decline, losing some 5% from its January 5 high of $33.61 a share. Shares of Pfizer have been on the decline, losing some 5% from its Jan. 5 high of $33.61 a share.
Altria: 5 Fascinating Facts You Ought to Know
In overcoming legal threats, regulatory hurdles, and a general trend away from smoking, Altria has nevertheless managed to keep its key figures on its income statement moving higher. The five facts discussed below are particularly interesting for those who haven’t followed the tobacco company closely.
IEFA, EFU: Big ETF Inflows
Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the iShares Core MSCI EAFE ETF , which added 14,000,000 units, or a 4.5% increase week over week. Among the largest underlying components of IEFA, in morning trading today Teva Pharmaceutical Industries is down about 0.2%, and NXP Semiconductors is lower by about 0.2%.
Old Cancer Drug Gets 1,000%-Plus Price Hike in Frugal U.K.
The chemotherapy known as busulfan is more than six decades old, and part of doctors’ standard arsenal against leukemia. It’s not scarce, and by all accounts, it should be dirt cheap.
This Promising Prostate Cancer Treatment Could Be a Game-Changer
Cancer is among the scariest diagnosis a person can receive. According to the American Cancer Society’s “Cancer Facts & Figures 2016” report, there were an estimated 1.69 million new cases of cancer diagnosed in 2016, along with a projected 595,690 cancer deaths.
This Promising Prostate Cancer Treatment Could Be a Game-Changer
Cancer is among the scariest diagnosis a person can receive. According to the American Cancer Society’s “Cancer Facts & Figures 2016” report, there were an estimated 1.69 million new cases of cancer diagnosed in 2016, along with a projected 595,690 cancer deaths.
How Big Is the Opportunity for Celgene’s Otezla Overseas?
Since winning approval for use in psoriasis in September 2014, Otezla has steadily been chipping away at U.S. market share in the indication, turning into a billion-dollar blockbuster in the process. Otezla’s sales continued climbing throughout 2016, and with launches planned in new international markets soon, sales could head even higher.
How Big Is the Opportunity for Celgene’s Otezla Overseas?
Since winning approval for use in psoriasis in September 2014, Otezla has steadily been chipping away at U.S. market share in the indication, turning into a billion-dollar blockbuster in the process. Otezla’s sales continued climbing throughout 2016, and with launches planned in new international markets soon, sales could head even higher.
The 5 Best States to Retire In 2017
Choosing a place to retire is a major decision, and there are many factors to consider. For example, affordability and access to great healthcare are important to many seniors, as is good weather and abundant entertainment options.
Johnson & Johnson’s Most Exciting Opportunity
Can cancer drug sales continue to soar? Here’s why cancer drugs could be Johnson & Johnson’s most exciting opportunity in 2017. Global spending on cancer drugs eclipsed $100 billion two years ago, and aging and longer-living populations worldwide have IMS Health projecting that global spending on cancer medicine could hit $150 billion in 2020.
3 Reasons Gilead Sciences Inc. Stock Could Rise
Here are three things that could get shares turned around. OK, so perhaps anything is a bit extreme.
Bristol-Myers Squibb Falls as It Cuts 2017 Outlook
Bristol-Myers Squibb on Thursday cut its guidance for 2017, saying it now expects adjusted earnings of $2.70 to $2.90 a share for the year, down from its previous guidance of $2.85 to $3.05. In the fourth quarter, the drugmaker posted earnings of $894 million, or 53 cents a share, compared with a loss of $197 million, or a loss of 12 cents, a year earlier.
Philip Morris International Gets Serious About Reduced Risk
But lately, a shift toward alternatives to cigarettes has taken hold among consumers, and Philip Morris has been surprisingly quick to embrace the idea that reduced-risk products could eventually supplant traditional cigarettes entirely. Philip Morris today reaffirmed its commitment to pursue reduced-risk product development to what it sees as its natural end: a smoke-free future.
Despite Soft Guidance, J&J Remains a Good Long-Term Buy
The blue-chip multinational has a good mix of prescription and over-the-counter products, which makes it well-suited to weather volatility. Shares of Johnson & Johnson sank 1.72% on Tuesday following softer-than-expected guidance for 2017.
Newron in Talks to License Schizophrenia Drug Tipped Blockbuster
Newron Pharmaceuticals SpA has held initial discussions with potential partners about licensing an experimental drug to treat schizophrenia, a mental health condition with no cure. “We see a good chance of a licensing deal in the second half of the year,” Chief Executive Officer Stefan Weber said in a telephone interview late on Tuesday.
ResMed: Cramer’s Top Takeaways
Jim Cramer takes a closer look at ResMed and its future as a medical-device maker focusing on sleep apnea and COPD. Did you miss last night’s “Mad Money” on CNBC ? If so, here are some of Jim Cramer’s top takeaways.
What You Need to Know About the Reynolds American/British American Tobacco Merger
First off, the details. British American already owns about 42% of Reynolds’ business and the proposal that was initially made last October was for the remaining 58%.
Top Biotech Stocks to Buy in 2017
Many individual biotech stocks have performed far worse. One bright side to all of that selling is that a handful of high-quality biotech stocks are currently trading for attractive prices.
3 Biotechs Likely to Be Acquired in 2017
The year is still young, but we’ve already seen acquisitions of Ariad and CoLucid . Which biotechs could be scooped up next in 2017? Here’s why Clovis Oncology The number of big companies battling to acquire Medivationin 2016 shows that the oncology space is hot.
5 Drugs That Are Way Cheaper in Canada
A lot of the discussion related to curbing runaway drug prices in the United States has focused on the importation of drugs from neighboring Canada. But are drugs really less expensive there? Often, the answer is yes.
What Does 2017 Hold for Medicare?
Medicare faces substantial uncertainty in 2017, as the incoming Trump administration has already promised to make major healthcare reforms. Although the president said during his campaign that he would not make cuts to Medicare, members of his cabinet and lawmakers in Congress might well see things differently.
Bristol-Myers Falls Further Behind Merck in Lung Cancer Race
Bristol-Myers Squibb Co. fell after the drugmaker said it wouldn’t seek accelerated approval for a combination of its drugs to treat first-line lung cancer.
Why Telecom Equipment Giants Are Struggling, but Their Suppliers Are Thriving
Optical component makers are enjoying the best business conditions they’ve arguably seen since the halcyon days of the dot-com bubble. But the same clearly can’t be said for many of the companies that have traditionally been their biggest clients.