Bill's Feed
Feb 7, 2013

Amgen biosimilar push takes aim at blockbusters

NEW YORK (Reuters) – Amgen Inc (AMGN.O: Quote, Profile, Research, Stock Buzz) said on Thursday that between this year and 2016 it will have key late-stage data from eight experimental medicines, and that it expects generic versions of biotech drugs, known as biosimilars, to be a multibillion-dollar opportunity for the company.

Amgen Chief Executive Robert Bradway, at a meeting in New York to update analysts and investors on business strategy, said the company plans to launch six biosimilars beginning in 2017 – four cancer drugs and two for inflammatory diseases.

Feb 7, 2013

Amgen outlines pipeline, sees push into biosimilars

NEW YORK (Reuters) – Amgen Inc (AMGN.O: Quote, Profile, Research, Stock Buzz) said on Thursday that between this year and 2016 it will have key late-stage data from eight experimental medicines, and that it expects generic versions of biotech drugs, known as biosimilars, to be a multi-billion dollar opportunity for the company.

Amgen Chief Executive Robert Bradway, at a meeting in New York with analysts and investors to provide an update to its business strategy, said the company plans to launch six biosimilars beginning in 2017 – four cancer drugs and two for inflammatory diseases.

Feb 4, 2013

Life Tech says all ideas on table in strategic review

Feb 4 (Reuters) – Life Technologies Inc, which is
undergoing a strategic review that could lead to the company’s
sale, said on Monday its board had made no decisions and it was
open to all options.

Life Tech, which noted that the process began last summer
when company shares were trading in the $40 range, said the
board review was ongoing.

Jan 31, 2013

PerkinElmer 4th quarter profit tops Street

Jan 31 (Reuters) – PerkinElmer Inc on Thursday
reported higher-than-expected fourth-quarter profit, but the
maker of scientific instruments issued a 2013 earnings forecast
range with a midpoint below Wall Street estimates.

For 2013, the company forecast adjusted earnings of $2.24 to
$2.32 per share and organic revenue to rise in the mid-single
digit range. PerkinElmer would have to hit the top of that range
to meet current Wall Street expectations, according to Thomson
Reuters I/B/E/S.

Jan 31, 2013

Thermo Fisher expects sequestration, 5 percent cut in U.S. budget

By Ransdell Pierson and Bill Berkrot

(Reuters) – Thermo Fisher Scientific Inc’s (TMO.N: Quote, Profile, Research, Stock Buzz) 2013 earnings forecast assumes automatic U.S. government spending cuts will occur in March and decrease the federal budget by more than 5 percent between March and September, the world’s largest maker of laboratory equipment said on Thursday.

The 2013 forecast, which was roughly in line with Wall Street estimates, came as Thermo Fisher reported a higher-than-expected fourth-quarter profit.

Jan 31, 2013

Thermo Fisher expects sequestration, 5 pct cut in US budget

Jan 31 (Reuters) – Thermo Fisher Scientific Inc’s
2013 earnings forecast assumes automatic U.S. government
spending cuts will occur in March and decrease the federal
budget by more than 5 percent between March and September, the
world’s largest maker of laboratory equipment said on Thursday.

The 2013 forecast, which was roughly in line with Wall
Street estimates, came as Thermo Fisher reported a
higher-than-expected fourth-quarter profit.

Jan 29, 2013

Vertex hep C drug sales plunge; looks to cystic fibrosis

Jan 29 (Reuters) – Vertex Pharmaceuticals Inc on
Tuesday reported a third consecutive quarterly loss as sales of
its hepatitis C drug, Incivek, again fell sharply while research
and development spending rose.

Incivek sales in the fourth quarter fell by half to $222.8
million from $456.8 million in the year-ago period. Vertex
shares were down 2 percent at $45.50 in after-hours trading.

Jan 29, 2013

Pfizer, Lilly profits beat Street; generics take toll

Jan 29 (Reuters) – Pfizer Inc and Eli Lilly and Co
reported better-than-expected fourth-quarter profits as
deals, cost cutting and strong sales of new products helped the
pharmaceutical companies weather generic competition for once
top-selling products.

The U.S. drugmakers also issued 2013 forecasts on Tuesday
that encouraged investors, who sent shares of both companies up
more than 3 percent.

Jan 29, 2013

Pfizer, Lilly beat Street; generics take toll

By Bill Berkrot and Ransdell Pierson

(Reuters) – Pfizer Inc and Eli Lilly and Co both reported a better-than-expected fourth-quarter profit as they weathered generic competition for once top-selling products through deals, cost cutting and strong sales of newer products.

The U.S. drugmakers also issued 2013 forecasts on Tuesday that passed muster with investors, sending shares of both companies up about 3 percent.

Jan 23, 2013

Amgen 2013 revenue forecast tops Street estimates

By Bill Berkrot

(Reuters) – Amgen Inc (AMGN.O: Quote, Profile, Research, Stock Buzz) on Wednesday projected revenue for 2013 that exceeds Wall Street estimates and said it was on track to deliver on its 2015 forecasts well ahead of schedule.

The world’s largest biotechnology company forecast 2013 revenue of $17.8 billion to $18.2 billion and adjusted earnings of $6.85 to $7.15 per share. Analysts on average are looking for revenue of $17.7 billion and earnings of $6.99 per share, according to Thomson Reuters I/B/E/S.

    • 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