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FDA Approval for Glaxo Drug

Thu, 29 Oct 2009 13:55:13 GMT

GlaxoSmithKline (GSK) and Denmark-based Genmab received some good news with the US Food and Drug Administration’s (FDA) approval?for Arzerra (ofatumumab), a monoclonal antibody for patients with chronic lymphocytic leukemia (CLL), a slowly progressing cancer of the blood and bone marrow.?[More...]

Options Intellignece Report : Microsoft (MSFT) Call Options Active, TiVo Implied Volatility Jumps

Fri, 23 Oct 2009 19:57:23 GMT

Today's tickers: MSFT, VLO, BRCM, XLP, AMZN, MSFT & ELN[More...]

Teva Pharmaceutical Industries Limited (NASDAQ:TEVA): A Good Buy

Fri, 02 Oct 2009 16:55:00 GMT

On September 30, Teva Pharmaceutical Industries Ltd (TEVA), sold the worldwide rights to a generic version of the white blood-cell boosting drug filgrastim to Hospira Inc (NYSE:HSP).[More...]

Johnson & Johnson (NYSE: JNJ) Beat Estimates Yet Again

Tue, 14 Jul 2009 16:29:41 GMT

“Johnson & Johnson, that’s an important name to the market. Robert: It is indeed. We sort of seeing sort of the best in class coming out first, the valedictorians are stepping out in their fields here with the Johnson & Johnson blue chip and Goldman Sachs, yeah, they came in, sort of are setting a positive tone, probably, you know, if you’re long this market you like to see them come out first and come up off the lows …” Fox Business 7/14/2009 Much of the focus in the media has been on Goldman Sachs’ (GS) blowout earnings release this morning, but the DJIA component [More...]

Shares Seem Undervalued – Elan Corporation (NYSE:ELN)

Fri, 10 Jul 2009 12:52:00 GMT

Elan Corporation, plc (Elan) is a neuroscience-based biotechnology company. Its principal research and development, manufacturing and marketing facilities are located in Ireland and the United States.[More...]

Johnson & Johnson (NYSE: JNJ): Earnings Preview

Thu, 09 Jul 2009 15:49:22 GMT

In the quarter ending March 2009, the company surprised the Wall Street by announcing an EPS of $1.26 per share as compared to the consensus estimate of $1.21. In the quarter ending June 2009, the EPS estimate ranges from a low of $1.08 to a high of $1.14[More...]

Closing Update: Stocks Lower for Session, Week as Jobs Data Revive Economic Worries

Thu, 02 Jul 2009 21:55:00 GMT

The major stock averages end down between 2% and 3%, at or near the session's lows after disappointing job market and factory data.[More...]

ACOR & BIIB Team Up On MS Drug

Wed, 01 Jul 2009 20:32:18 GMT

This morning, Acorda Therapeutics (ACOR) announced that it has entered into an exclusive collaboration and licensing agreement to develop and commercialize Fampridine-SR, the company's therapy to improve walking ability in patients with multiple sclerosis (MS), with Biogen Idec (BIIB) for territories outside the U.S. These territories include Europe, Canada and Australia, among others, and relate to all current and future aminopyridine products. Biogen will pay Acorda an upfront payment of $110 million in cash as part of the transaction. Acorda can earn an additional $400 million in regulatory and sales related milestones, plus a tiered double-digit royalty on sales of the drug.[More...]

Pharmaceuticals & Biotech - Industry Outlook

Tue, 09 Jun 2009 12:05:35 GMT

The pharmaceutical industry is entering a period of substantial change in 2009. Most of the names in the industry are facing significant patent challenges in the years to come. U.S.-based firms are facing foreign exchange headwinds, as well. Revenue growth is non-existent, and earnings growth is being driven primarily by mergers, cost-cutting and share buybacks. Knowing that investors rarely pay-up for this type of manufactured earnings growth, we struggle to see a broad-based out-performance for the large-cap pharmaceutical sector in 2009. Valuations, however, are attractive, with several of the largest players trading at PEs below 10x, including: Pfizer (PFE, 7.5x), Eli Lilly (LLY,[More...]

Pharmaceuticals

Tue, 10 Feb 2009 18:38:00 GMT

Large pharmaceutical companies all seem to be in a similar boat heading into 2009. Most of the names in the industry are facing significant patent challenges in the years to come. U.S.-based firms are facing foreign exchange headwinds as well. Revenue growth is non-existent, and earnings growth is being driven primarily by cost-cutting and share buybacks. Knowing that investors rarely pay-up for this type of manufactured earnings growth, we struggle to see a broad-based out-performance for the large-cap pharmaceutical sector in 2009. Valuations, however, are attractive, with several of the largest players trading at PEs below 10x, including Pfizer (PFE, 7x), Eli Lilly (LLY, 9x), Merck ([More...]

J&J posts 1 percent profit rise despite sales drop

Tue, 13 Oct 2009 17:51:00 GMT

TRENTON, N.J. - Johnson & Johnson on Tuesday reported a meager 1 percent increase in third-quarter profit, as intensifying generic competition slashed sales of blockbuster prescription drugs.
In addition, the global recession hurt consumer product sales and slowed growth for medical devices, the only J&J segment not declining.
Analysts polled by Thomson Financial were expecting lower earnings per share, at $1.13, and revenue of $15.19 billion in the latest quarter.

[More...]

J&J posts 1 percent profit rise despite sales drop

Tue, 13 Oct 2009 15:46:00 GMT

TRENTON, N.J. - Health care giant Johnson & Johnson on Tuesday reported a meager 1 percent increase in its third-quarter net income, as generic competition slashed sales of several of its top drugs and the recession hurt consumer product sales.
In last year's third quarter, it had net income of $3.31 billion, or $1.17 per share.
Sales in Johnson & Johnson's biggest division, medical devices and diagnostics, rose 2.3 percent to $5.84 billion.

[More...]

J&J posts 1 percent profit rise despite sales drop

Tue, 13 Oct 2009 13:46:00 GMT

TRENTON, N.J. - Health care giant Johnson & Johnson on Tuesday reported a meager 1 percent increase in its third-quarter net income, as generic competition slashed sales of several of its top drugs and the recession hurt consumer product sales.
In last year's third quarter, it had net income of $3.31 billion, or $1.17 per share.
Sales in Johnson & Johnson's biggest division, medical devices and diagnostics, rose 2.3 percent to $5.84 billion.

[More...]

Bridgepoint Ed, Quiksilver, Ulta Salon big movers

Fri, 04 Sep 2009 22:04:00 GMT

The San Diego-based education company said it expects a federal audit to result in proposed fines and other action.
H&R Block Inc., down 39 cents to $16.62
The nations largest tax preparer lost $133.6 million in the first quarter, the same as a year ago, but results were slightly worse than expected.

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Relocation of Latrobe Utility Poles in Doubt

Tue, 11 Aug 2009 10:50:00 GMT

Aug. 11--The second phase of a project to relocate utility poles along Lloyd Avenue in Latrobe is in limbo, city council learned Monday.
The completed first phase -- which cost $240,000 -- involved relocating the power poles and utility lines to the rear property lines of 20 homeowners on the western side of the street's 300 and 400 blocks, said Ron Weimer, chairman of the planning commission.
Efforts to begin the second phase have stalled in large part because Thomas Pope, one of 21 homeowners on the eastern side of the same stretch of the road, is the lone resident who hasn't signed a waiver of right-of-way.

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J&J posts lower 2Q profit, but still beats view

Tue, 14 Jul 2009 17:46:00 GMT

TRENTON, N.J. - Health care products maker Johnson & Johnson on Tuesday said its second-quarter profit fell 3.5 percent, as the global recession, weak dollar and generic competition took their toll on sales, particularly for prescription drugs.
Still, the world's most broadly based health care company handily beat Wall Street's restrained expectations, as J&J reduced spending on sales, administration and research by about 13 percent and production costs by 6 percent.
The New Brunswick, N.J.-based maker of baby shampoo, Tylenol, contraceptives and biotech drugs earned $3.21 billion, or $1.15 per share, down from $3.33 billion, or $1.17 a share, a year ago.

[More...]

Stocks Tumble on Jobs News

Fri, 03 Jul 2009 14:49:00 GMT

Stocks got slammed in extremely light trading Thursday following the employment report, which revealed more weakness for job trends ahead of the long July 4 holiday weekend.
Action Economics said the report was weaker than expected due to a drop in the workweek to a new low of 33.0 hours from 33.1 over the last three months, and an associated big 0.8% drop in the hours-worked index.
Action Economics said it has revised down its second quarter GDP estimate to a decline of 2.5% from a drop of 2.0%.

[More...]

Elan, NRG Energy, Boeing are big movers

Thu, 02 Jul 2009 22:06:00 GMT

Johnson & Johnson said it will take an 18.4 percent stake in the Ireland-based drug developer with a $1 billion investment.
Exelon Corp. sweetened its hostile takeover bid for the company to $8 billion in stock, citing newly identified cost savings.
Rite Aid Corp., down 19 cents at $1.35

[More...]

Stocks Climb on Rebound Hopes

Tue, 02 Jun 2009 14:56:00 GMT

With General Motors Corp. (GM) departing the Dow Jones industrial average Monday after its bankruptcy filing, the stock market decided to hold an Irish wake for the automaker.
The Dow jumped over 2.5% Monday, with other major indexes following suit, after manufacturing reports in the U.S., Europe, and Asia supported investors' hopes for a global economic rebound.
On Monday, the 30-stock Dow Jones industrial average finished higher by 221.11 points, or 2.60%, at 8,721.44.

[More...]

Grand Forks Herald, N.D., Ann Bailey Column: ANN BAILEY: After a Long, Cold Winter, the Glories of Spring Beckon

Sun, 29 Mar 2009 09:49:00 GMT

Mar. 29--I'm eager for the arrival of spring.
But even though the cold winds could continue to blow for a few more weeks and there's still a chance for snow for longer than we care to think about, there are definite signs of spring.
Every year I look forward to spring with great anticipation, but this year, even more than most.

[More...]

Elan Files Declaratory Suit Against Biogen Idec; Company Has Not Breached Tysabri® Collaboration Agreement

Thu, 06 Aug 2009 14:15:00 GMT

Elan Corporation, plc (NYSE:ELN) today announced that it has filed suit against Biogen Idec Inc. in Federal Court in New York seeking declaratory and injunctive relief that certain aspects of Elan’s recently announced transaction with affiliates of Johnson & Johnson (the “Transaction”) comply with Elan’s Collaboration Agreement with Biogen Idec for the development and marketing of Tysabri (the “Collaboration Agreement”).[More...]

Elan Drug Technologies announces first approval of a long acting injectable formulation using NanoCrystal® Technology

Mon, 03 Aug 2009 20:27:00 GMT

Elan Drug Technologies, a business unit of Elan Corporation, plc (NYSE: ELN) announces the first approval of a long-acting injectable formulation using Elan Drug Technologies’ proprietary NanoCrystal® technology.[More...]

Video: FDA Approves INVEGA(R) SUSTENNA(TM) for the Acute and Maintenance Treatment of Schizophrenia

Mon, 03 Aug 2009 12:06:00 GMT

The U.S. Food and Drug Administration approved INVEGA SUSTENNA extended-release injectable suspension for the acute and maintenance treatment of schizophrenia in adults on Friday, July 31, 2009. It is the first once-monthly, long-acting, injectable atypical antipsychotic approved in the U.S. for this use. Janssen), Division of Ortho-McNeil-Janssen Pharmaceuticals, Inc, will market INVEGA SUSTENNA in the U.S.[More...]

FDA Approves INVEGA(R) SUSTENNA(TM) for the Acute and Maintenance Treatment of Schizophrenia

Fri, 31 Jul 2009 21:16:00 GMT

The U.S. Food and Drug Administration today approved INVEGA SUSTENNA extended-release injectable suspension for the acute and maintenance treatment of schizophrenia in adults. It is the first once-monthly, long-acting, injectable atypical antipsychotic approved in the U.S. for this use. Janssen, Division of Ortho-McNeil-Janssen Pharmaceuticals, Inc, will market INVEGA SUSTENNA in the U.S.[More...]

El Nino Ventures options Bathurst project to Votorantim Metals Canada Inc.

Wed, 22 Jul 2009 13:57:00 GMT

VANCOUVER, July 22 /CNW/ - El Nino Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E7Q) is very pleased to announce that Votorantim Metals Canada Inc. (Votorantim) has elected to enter into a Memorandum of Understanding (MOU) with the Company concerning a geological due diligence and subsequent option Agreement whereby Votorantim may elect to earn up to a 70% interest in 1805 mineral claims in the Bathurst Mining Camp, New Brunswick, in which ELN owns 50% interest and Xstrata Canada Corporation - Xstrata Zinc Canada Division (Xstrata Zinc), owns 50% interest.[More...]

Elan Reports Second Quarter 2009 Financial Results

Tue, 21 Jul 2009 05:56:00 GMT

Elan Corporation, plc today reported its second quarter 2009 financial results.[More...]

Biogen Idec Reports Second Quarter 2009 Results

Thu, 16 Jul 2009 11:48:00 GMT

Biogen Idec Inc. (NASDAQ: BIIB), a global biotechnology leader in the discovery, development, manufacturing, and commercialization of innovative therapies, today reported its second quarter 2009 results.
Global in-market net sales of TYSABRI in the second quarter of 2009 were $254 million, of which $125 million was in the U.S. and $129 million was in rest of world markets.
The financial results for the second quarter included a payment of $110 million related to our recently announced collaboration and license agreement with Acorda Therapeutics, Inc.

[More...]

Studies Presented at International Conference on Alzheimer's Disease Reveal Substantial Economic Costs and Caregiver Burden Associated with Alzheimer's Disease

Tue, 14 Jul 2009 12:59:00 GMT

Elan Corporation, plc and Wyeth presented information this week at the Alzheimer Association 2009 International Conference on Alzheimer's Disease from seven posters and one podium presentation about the growing burden of care and costs associated with Alzheimer's disease and how to measure them. This information sheds light on the impact of AD, which, as the population ages, will place a significant and increasing burden on patients, families, and caregivers, as well as public health systems worldwide. The costs of Alzheimer's disease are difficult to estimate, highlighting the importance of the information presented. 'These analyses provide important information - in some cases for the first time - about the associations between AD and the health and wellbeing of patients, healthcare costs, and the burden on caregivers,' said study investigator, Daniel Murman, M.D., M.S., Associate Professor and Director, Memory Disorders and Behavior Neurology Program with the Department of Neurological Sciences at the University of Nebraska Medical Center. 'This information shows that not only are AD patients more likely than their peers to suffer from other serious conditions, but their needed care takes a tremendous toll on their caregivers. All of this means increased burden and financial costs to individuals and the healthcare system.'About the Poster PresentationsPoster #P3-221: Predicting Costs of Care for Unique Dependence Levels in Patients with AD A new, longitudinal, non-interventional study of 133 Alzheimer's disease patients/caregiver pairs showed an exponential relationship between total costs and AD dependence levels, with costs increasing significantly with increasing dependence. In this study, dependence level provided a useful method to estimate unique levels of care and associated costs that can be used in pharmacoeconomic evaluations of new treatments for AD patients in a transparent and meaningful manner.Poster #P1-180: Relationship Between Patient Dependence and Caregiver Burden in Alzheimer's Disease A new, longitudinal, non-interventional study that included 155 Alzheimer's disease patients/caregiver pairs across the U.S. and Europe assessed the relationship of AD patients' dependence on caregiver burden, connecting the impact of worsening AD severity on family members or other caregivers. This is the first study exploring the relationship between dependence and caregiver-reported burden via the Caregiver Reaction Assessment, a tool that captures both negative and positive reactions of giving care in an informal setting. Specifically, this poster presented an interim analysis that found caregivers reported experiencing increased disruption in daily schedules, greater lack of family support, and more time devoted to being a caregiver as AD patients' dependence increased. 'Given these recent findings, it's vital for continued research, measurement, and documentation of the growing burden of care and cost of Alzheimer's disease to adequately provide support for caregivers and assess patient healthcare needs,' said Dr. Dale P. Schenk, Executive Vice President and Chief Scientific Officer of Elan. 'Elan and Wyeth, through the Alzheimer's Immunotherapy Program , are committed to advancing research in all aspects of the disease.' Poster #P2-071: Increased Risk of Serious Comorbidities in a Cohort of AD Patients Compared to a Similar Non-AD Cohort A retrospective data analysis showed that AD patients appear to have a higher prevalence of certain serious conditions compared to patients without AD. These analyses were comprised of an evaluation of claims data for more than 33 million Americans from a managed care population over the course of eight years. The study authors concluded that the most notable serious conditions were decubitus ulcers , seizures , hip fractures, , depression , and pneumonia .According to Professor Roy Jones, Director, The Research Institute for the Care of Older People, Bath, United Kingdom, these conditions alone can add significant burden to patients and their loved ones, but in combination with AD, they often translate into significant financial cost, poor health outcomes, and higher risk of death. "I regularly see elderly patients who have multiple conditions that increase the complexity of their care, but until now there have been little data available to reflect the significance and increased prevalence of other conditions in people with Alzheimer's disease,' Professor Jones said. Poster #P2-066: Web-Based Application to Estimate and Project the Burden of Alzheimer's Disease and Evaluate the Impact of Potential Interventions More than 26 million people worldwide are estimated to have Alzheimer's disease; however, an updated model suggests that global AD prevalence can be expected to increase to over 100 million by 2050. The Web-based application presented in the poster allowed cost estimate calculations on the future burden of AD. The tool was shown to generate projections for a specified population and generate estimates of disease burden, costs, and/or Disability Adjusted Life Years , along with the impact of interventions that can reduce risk or slow progression. Projecting the future burden of AD is important for researchers and policy makers who are evaluating the potential impact of interventions that may reduce disease risk or slow disease progression. 'This kind of work is important and we applaud the Alzheimer's Immunotherapy Program for supporting research to better understand the burden of this disease and its impact on affected families,' said Marc Wortman, Executive Director, Alzheimer's Disease International.Editors Note: The following Elan and Wyeth abstracts were also presented at ICAD:Poster #P1-204: Estimating HRQOL for Unique Dependence Levels in Patients with AD Poster #P3-113: Hip Fracture Risk and Subsequent Mortality among Alzheimer's Disease Patients in the United Kingdom, 1988-2007 Poster #P1-212: Estimating Dependence Scale Scores Based on Clinical Dementia Rating-Sum of Boxes Scores in Patients with Mild Cognitive Impairment or Mild to Moderate Alzheimer's Disease Podium: Development of an Algorithm for Identifying AD Severity in Administrative Claims Data About Alzheimer's DiseaseIt is estimated that one in eight baby boomers will develop AD, resulting in significant costs to society and individuals. Recent data estimate the cost of dementia including AD at nearly $120 billion annually in direct and indirect costs in Europe and $148 billion in the U.S. Alzheimer's disease is a progressive brain disorder that gradually destroys a person's memory and ability to learn, reason, make judgments, communicate and carry out daily activities, such as bathing and eating.As Alzheimer's disease progresses, individuals may also experience changes in personality and behavior, such as anxiety, suspiciousness or agitation, as well as delusions or hallucinations. About the Elan and Wyeth CollaborationThe Alzheimer's Immunotherapy Program is a collaboration between Elan and Wyeth to research, develop, and commercialize immunotherapeutic approaches that may be used to treat and possibly prevent the onset of Alzheimer's disease. The AIP is committed to researching the burden of care and cost of AD as well as developing tools that help advance these efforts. The AIP is also currently conducting clinical trial enrollment throughout Europe and the United States for its lead investigative compound bapineuzumab. An extensive global Phase 3 clinical program was initiated in December 2007 for bapineuzumab as a potential treatment for patients with mild to moderate Alzheimer's disease. To learn more about this trial and potential enrollment, patients or caregivers should contact clinical sites directly. Participating clinical sites in North America can be found by visiting www.icarastudy.com or calling 1 818-MEMORY. For study information outside North America, visit www.globalicarastudy.com. Study site details also can be found on www.clinicaltrials.gov. In addition, the AIP is continuing to conduct safety trials with bapineuzumab subcutaneous and ACC-001.About ElanElan Corporation, plc is a neuroscience-based biotechnology company committed to making a difference in the lives of patients and their families by dedicating itself to bringing innovations in science to fill significant unmet medical needs that continue to exist around the world. Elan shares trade on the New York, London and Dublin Stock Exchanges. For additional information about the company, please visit http://www.elan.com.About WyethWyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing and marketing of pharmaceuticals, vaccines, biotechnology products, nutritionals and non-prescription medicines that improve the quality of life for people worldwide. The Company's major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.Safe Harbor/Forward-Looking StatementsThe statements in this press release regarding the Alzheimer's Immunotherapy Program, including the clinical program for bapineuzumab, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In particular, there can be no assurance that the clinical program for bapineuzumab will be successful in demonstrating safety and/or efficacy, that we will not encounter problems or delays in clinical development, or that bapineuzumab will ever receive regulatory approval or be successfully commercialized. Other risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include those detailed from time to time in the companies' periodic reports filed with the Securities and Exchange Commission, including Wyeth`s current reports on Form 8-K, quarterly reports on Form 10-Q and annual report on Form 10-K, particularly the discussion under the caption "Item 1A, Risk Factors" in Wyeth's Annual Report on Form 10-K for the year ended December 31, 2008, which was filed with the Securities and Exchange Commission on February 27, 2009, and Elan's Reports of Foreign Issuer on Form 6-K and Annual Report on Form 20-F, particularly the discussion under the caption 'Item 3D, Risk Factors' in Elan's Annual Report on Form 20-F for the year ended December 31, 2008, which was filed with the Securities and Exchange Commission on February 26, 2009 The forward-looking statements in this press release are qualified by these risk factors. The companies assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.[More...]

Elan and Transition Therapeutics Announce Phase 1 Data Showing ELND005 Achieves Desired Concentrations in Brain Tissue and Cerebrospinal Fluid

Mon, 13 Jul 2009 10:26:00 GMT

Elan Corporation, plc (NYSE: ELN) and Transition Therapeutics Inc. (TSX: TTH, NASDAQ: TTHI) today presented Phase 1 data demonstrating that treatment with ELND005 (scyllo-inositol formerly known as AZD-103), achieves desired concentrations in human brain tissue and cerebrospinal fluid when given orally. Preclinical data also were presented showing that ELND005 administration is associated with preservation of choline acetyltransferase (ChAT), reflecting preservation of nerve cells that are critical to memory function in the brain. ELND005 is an orally-administered drug candidate in Phase 2 trials for the treatment of mild to moderate Alzheimer’s disease. These results were presented at the 2009 Alzheimer’s Association International Conference on Alzheimer’s Disease (ICAD 2009) in Vienna, Austria.[More...]

Elan to Showcase Its Leadership in Alzheimer’s Disease at Upcoming International Meeting

Wed, 08 Jul 2009 12:37:00 GMT

Elan Corporation, plc (NYSE: ELN) today announced multiple presentations at the 2009 Alzheimer’s Association International Conference on Alzheimer’s Disease (ICAD 2009) in Vienna, Austria.[More...]