Bill's Feed
Oct 30, 2014

PerkinElmer profit meets expectations; lowers forecast on forex

Oct 30 (Reuters) – PerkinElmer Inc on Thursday
reported lower-than-expected third-quarter sales and the
scientific instruments maker decreased its full-year earnings
forecast, citing the impact of the stronger dollar on foreign
exchange rates.

PerkinElmer gets more than half of its revenue from sales
outside the United States. Overseas sales in euros and other
major currencies were reduced when converted back into dollars.

Oct 30, 2014

Bristol immunotherapy shows promise in lung cancer trial

Oct 30 (Reuters) – Treatment of advanced squamous cell
non-small cell lung cancer (NSCLC) with Bristol-Myers Squibb
Co’s experimental immunotherapy nivolumab led to a
one-year survival rate of 41 percent in a midstage clinical
trial, according to data being presented at a medical meeting.

While the study called CheckMate-063 did not compare
nivolumab with another drug or placebo, the historical one-year
survival rate for patients like those in the trial, whose cancer
had progressed after treatment with two or more prior therapies,
is between 5.5 percent and 18 percent, the company said.

Oct 28, 2014

Amgen 2015 forecast tops estimates, to boost dividend; shares up

NEW YORK, Oct 28 (Reuters) – Amgen Inc forecast
2015 earnings and revenue well ahead of Wall Street projections
Tuesday and announced plans to cut costs and increase returns to
shareholders through a dividend increase and share repurchases,
sending shares up more than 2 percent in premarket trading.

Amgen Chief Executive Robert Bradway said there is no plan
to split the company into mature and growth product businesses
as had been urged by Daniel Loeb’s Third Point hedge fund, a
significant shareholder.

Oct 28, 2014

Amgen 2015 forecast tops Street view; sees cost cuts, share buyback

NEW YORK, Oct 28 (Reuters) – Amgen Inc on Tuesday
forecast 2015 earnings and revenue well ahead of Wall Street
projections and announced plans to cut costs and increase
returns to shareholders through a dividend increase and share

The world’s largest biotechnology company, at a business
update for analysts and investors in New York, said it was
looking for 2015 adjusted earnings of $9.05 to $9.40 a share on
revenue of $20.8 billion to $21.3 billion.

Oct 27, 2014

Amgen profit tops Wall Street expectations; raises 2014 outlook

By Bill Berkrot

(Reuters) – Amgen Inc (AMGN.O: Quote, Profile, Research, Stock Buzz) on Monday reported higher-than-expected third quarter earnings and revenue, even as net profit fell due to a hefty restructuring charge, and the company raised its full-year forecast.

The world’s largest biotechnology company recorded a $376 million charge related to restructuring moves announced July 29 and expects to take another charge of up to $150 million in the fourth quarter.

Oct 23, 2014

Celgene profit jumps 37 percent; set to move Crohn’s drug forward

By Bill Berkrot

(Reuters) – Celgene Corp (CELG.O: Quote, Profile, Research, Stock Buzz) on Thursday reported third-quarter profit rose 37 percent on a double-digit rise in sales of its flagship multiple myeloma drug Revlimid, and the U.S. biotechnology company expressed great confidence in a closely-watched treatment for Crohn’s disease it recently acquired.

Celgene shares jumped 5 percent after the company said it was finalizing plans to move the Crohn’s drug, GED-301, into Phase III trials following a presentation at a medical meeting this week of midstage data that showed high and durable remission rates.

Oct 22, 2014

U.S. tightens Ebola monitoring for West African visitors

NEW YORK (Reuters) – U.S. health officials unveiled new measures on Wednesday to carry out Ebola monitoring on anyone entering the country from the three nations at the center of a West African epidemic, increasing precautions to stop the spread of the virus.

The U.S. Centers for Disease Control and Prevention (CDC) said that beginning Monday, travelers from Liberia, Sierra Leone and Guinea will be directed to check in with health officials every day and report their temperatures and any Ebola symptoms for 21 days, the period of incubation for the virus.

Oct 22, 2014

Biogen shares down on Tecfidera sales, first confirmed PML case

By Bill Berkrot

(Reuters) – Biogen Idec Inc on Wednesday reported sales of its big-selling new multiple sclerosis drug, Tecfidera, that fell short of Wall Street’s lofty expectations, and the company confirmed a serious brain infection in a patient who took the oral medication, sending its shares about 8 percent lower.

Biogen reported the first case of progressive multifocal leukoencephalopathy (PML) in a Tecfidera patient, who had been part of a clinical trial and was taking the drug for four and a half years.

Oct 22, 2014

Biogen quarterly profit surges, but Tecfidera sales disappoint

Oct 22 (Reuters) – Sales of Biogen Idec Inc’s
big-selling new oral multiple sclerosis drug Tecfidera fell
short of lofty Wall Street estimates for the first time and its
shares fell nearly 3 percent, even as the company reported
higher-than-expected third-quarter profit and raised its
full-year earnings forecast.

Tecfidera, which has enjoyed one of the best new drug
launches in pharmaceutical history since its March 2013 U.S.
approval, had sales of $787 million in the quarter. Analysts,
who in previous quarters had watched Tecfidera sail past their
sales estimates, were looking for about $800 million this time

Oct 21, 2014

FDA panel votes to expand use of Vertex cystic fibrosis drug

By Bill Berkrot

(Reuters) – A U.S. Food and Drug Administration advisory panel on Tuesday voted 13-2 to recommend expanding approval of Vertex Pharmaceuticals Inc’s cystic fibrosis drug Kalydeco to include a wider range of patients with the rare lung disease, the company said.

The panel of experts said Kalydeco should be approved for patients ages 6 and older with a specific mutation of the R117H gene, of which there are about 500 people in the United States.

    • 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."
    • Follow Bill