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Aug 6, 2013

Sales of Regeneron’s Eylea eye drug slow, shares drop

By Esha Dey and Bill Berkrot

(Reuters) – The explosive growth in the sales of Regeneron Pharmaceuticals Inc’s Eylea eye drug slowed in the second quarter as existing patients moved to less-frequent dosing.

Shares of Regeneron fell 6.1 percent on Tuesday even though the company said it plans to file for wider use of the injectable drug later this year, following positive new trial data.

Aug 1, 2013

PerkinElmer lower profit exceeds Street expectations

By Bill Berkrot

(Reuters) – PerkinElmer Inc (PKI.N: Quote, Profile, Research, Stock Buzz) on Thursday reported lower second-quarter earnings that exceeded tempered expectations after Wall Street had been caught off guard by a disappointing first quarter.

The maker of scientific instruments, medical diagnostic equipment and environmental safety monitoring products raised the low end of its full-year earnings forecast range by 3 cents, and said it was on track to meet its own expectations. But the new forecast remained below the company’s initial 2013 outlook.

Jul 30, 2013

Amgen profit tops Wall Street view; rebounds from first quarter

By Bill Berkrot

(Reuters) – Amgen Inc (AMGN.O: Quote, Profile, Research, Stock Buzz), which is attempting to buy Onyx Pharmaceuticals Inc (ONXX.O: Quote, Profile, Research, Stock Buzz) to add to its cancer drug offerings, on Tuesday reported higher-than-expected second- quarter profit as sales of many of its drugs rebounded from a disappointing first quarter.

Most of Amgen’s higher profile products had sales that exceeded Wall Street estimates, and the world’s largest biotechnology company raised its full-year earnings forecast.

Jul 30, 2013

Amgen profit tops Wall Street view; rebounds from 1st qtr

July 30 (Reuters) – Amgen Inc, which is attempting
to buy Onyx Pharmaceuticals Inc to add to its cancer
drug offerings, on Tuesday reported higher-than-expected second-
quarter profit as sales of many of its drugs rebounded from a
disappointing first quarter.

Most of Amgen’s higher profile products had sales that
exceeded Wall Street estimates, and the world’s largest
biotechnology company raised its full-year earnings forecast.

Jul 30, 2013

Cost controls help Pfizer, Merck weather weak quarter

By Bill Berkrot and Ransdell Pierson

(Reuters) – Big Pharma is still relying on belt-tightening to prop up financial results.

Pfizer Inc (PFE.N: Quote, Profile, Research, Stock Buzz) and Merck & Co (MRK.N: Quote, Profile, Research, Stock Buzz) said on Tuesday their quarterly results were again hit by generic competition for once top-selling products and the toll of a strong dollar on overseas revenue. Controls on marketing and administrative expenses, and other costs, helped them report earnings slightly above Wall Street estimates.

Jul 29, 2013

Vertex loss narrows as cystic fibrosis drug sales grow

July 29 (Reuters) – Vertex Pharmaceuticals Inc on
Monday posted a narrower quarterly loss on
stronger-than-expected demand for its cystic fibrosis treatment,
and it raised its full-year forecast for sales of the medicine.

The company now expects 2013 sales of the CF drug Kalydeco
at $345 million to $360 million, up from its prior view of $300
million to $340 million.

Jul 25, 2013

U.S. FDA puts hold on Vertex hepatitis study; shares fall

By Bill Berkrot

(Reuters) – Vertex Pharmaceuticals Inc said U.S. health regulators placed a partial clinical hold on its mid-stage study of an experimental oral hepatitis C treatment because of potential liver problems, sending its shares sharply lower on Thursday.

Vertex said the U.S. Food and Drug Administration took the action on the Phase II study of its VX-135 in combination with the standard hepatitis drug ribavirin after elevated liver enzymes were observed in three patients taking the 400 milligram dose of its drug.

Jul 25, 2013

Biogen’s new MS drug sales shine in first quarter on market

By Bill Berkrot

(Reuters) – Biogen Idec Inc on Thursday reported sales of its new Tecfidera oral multiple sclerosis drug that blew away initial Wall Street estimates, confirming an extremely strong launch for a medicine expected to dominate its market.

In its first quarter on the market, Tecfidera had sales of $192 million, including inventory stocking. Analysts had expected about $66 million, with the more bullish forecasts at about $90 million.

Jul 24, 2013

Thermo Fisher profit edges past Street view; shares up

By Bill Berkrot

(Reuters) – Thermo Fisher Scientific Inc (TMO.N: Quote, Profile, Research, Stock Buzz) reported a second-quarter profit that slightly beat Wall Street expectations, and said it was making progress in planning for its $13.6 billion acquisition of genetic testing company Life Technologies Inc (LIFE.O: Quote, Profile, Research, Stock Buzz).

Excluding special items, Thermo Fisher earned $1.32 per share, topping analysts’ average expectations by 2 cents, according to Thomson Reuters I/B/E/S. Its shares rose as much as 3 percent, touching a new all-time high.

Jul 17, 2013

Vivus says FMC rejects offer to settle proxy fight

July 17 (Reuters) – Obesity drug maker Vivus Inc,
embroiled in a bitter proxy war with its top shareholder First
Manhattan Co, said on Wednesday that FMC had rejected an offer
to give the sides equal representation on the board.

FMC responded by saying that it remains open to a fair
settlement with the Vivus board, despite filing a lawsuit this
week against the biotechnology company for postponing its annual
shareholder meeting by three days. FMC said at the time of
Monday’s originally scheduled meeting it had the votes needed to
seize control of the Vivus board.

    • About Bill

      "Based in New York, I primarily cover the pharmaceutical and biotechnology sectors as well as other publicly traded companies involved in health care. Previously covered a wide range of sports for Reuters."
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