Whoever says you can't throw money at problems hasn't spent much time following the Big Pharma sector this year. More than $160 billion worth of buyouts involving top drugmakers has already been inked in 2009. The list of blockbuster deals includes Pfizer's (PFE) buy of Wyeth, Merck's (MRK) buy of Schering-Plough, Roche Holdings' (RHHBY) buy of Genentech and Abbott Labs' (ABT) buy of Solvay. The buy-big strategy is the best way for pharma to
By Ellis MnyanduNEW YORK (Reuters) - U.S. stocks fell for a third straight day on Friday as investors took weaker-than-expected results from computer maker Dell DELL and homebuilder D.R. Horton DHI as a further sign that the recovery would be anemic.Following the S&P 500's gain of more than 60 percent...
Best Buy Co Inc (NYSE: BBY) shares began their uptrend movement on October 30, and there are no reversal signs in sight so far. The stock could add some points as holiday season is nearing.
The JM Smucker Company (NYSE: SJM) shares have appreciated today by 5.25% to $56.29 after witnessing sideways movement for some time now. This sudden move up could mean that investors have made up their minds on buying healthy food stocks in tough economic environment. The JM Smucker Company (SJM) had a big volume today with $3.05M made.
Agrium Inc. (USA) (NYSE: AGU) is on the uptrend as agriculture commodities are going up. Agrium (AGU) added 0.19% today.
Warren Buffett's favorite investment, The Coca-Cola Company (NYSE: KO) jumped 1.05%. Coca Cola (KO) is always a good investment as everybody drinks Coke.
When agriculture commodities are up, fertilizer companies are always good idea. Terra Industries Inc. (NYSE: TRA) gained 5.14% to close at $40.06.
Merck & Co. (NYSE: MRK) closed at $36.46 today with a 3.20% increase. This diversified company has many drugs in the pipeline and it could continue to go up.
CenturyTel, Inc. (NYSE: CTL) managed to break the resistance today. It closed at $35.61 and had the volume that was twice its average volume. With P/E at around 12 it could easily continue to move forward.
By Ellis MnyanduNEW YORK (Reuters) - U.S. stocks fell for third straight day on Friday as investors took weaker-than-expected results from computer maker Dell and homebuilder D.R. Horton as a further sign that the recovery would be anemic.Following the S&P 500's gain of more than 60 percent from its 12-year...
The effectiveness of Merck’s (MRK) cholesterol lowering drug Zetia has been put to question following the release of data from a clinical trial comparing Abbott’s (ABT) Niaspan (niacin extended-release tablets) plus a statin with Merck’s Zetia. Although data are not encouraging for Merck, the company expressed its confidence recently at the American Heart Association meeting.
Results [...]
The effectiveness of Merck’s (MRK) cholesterol lowering drug Zetia has been put to question following the release of data from a clinical trial comparing Abbott’s (ABT) Niaspan (niacin extended-release tablets) plus a statin with Merck’s Zetia. Although data are not encouraging for Merck, the company expressed its confidence recently at the American Heart Association meeting.
Results from the ARBITER 6 - HALTS study showed that patients at high cardiovascular risk showed significant reduction in atherosclerosis after 8 and 14 months of therapy with Abbott's Niaspan plus a statin, the study's primary endpoint. The study met its secondary endpoint too. It was observed that treatment with Niaspan plus statin resulted in significantly fewer major adverse cardiac events (or MACE, a composite endpoint consisting of heart attack, myocardial revascularization, admission to the hospital for an acute coronary syndrome, and death from coronary heart disease), as compared to Zetia.
However, the results are not very conclusive as the patient population has been very small (363). In addition, the study was stopped prematurely after just half the number of intended patients completed the full study period.
The results of the study may hamper the sales potential of Merck’s cholesterol drugs further. This is the third time in the last two years that negative results have lowered sales of the cholesterol drugs, Zetia and Vytorin. Earlier, the combined sales of these drugs came under pressure due to disappointing clinical trial outcomes and a potential cancer risk. Results from the ENHANCE and SEAS trials, released in 2008 have significantly depressed sales of both drugs.
Combined sales fell 12% in 2008 and were down 7% at $1 billion in the third quarter of 2009.
We believe the drugs will continue to struggle due to the unfavorable data as well as increased competition from generic and branded statins, especially following the Lipitor patent expiration in November 2011. We have a Neutral recommendation on Merck.
BloggingStocks: Analyst upgrades:
Goldman upgraded Aeropostale (ARO) to neutral from sell. The firm, which has a $34 target on the stock, cites the recent sell-off in shares for the upgrade.
Janney Montgomery upgraded Consolidated Water (CWCO) to buy from ... Read more
Enzon (ENZN) achieved break-even earnings during the third quarter of 2009, better than the Zacks Consensus Estimate of loss of 7 cents but below the year-ago earnings of 1 cent. The company reported revenues of $44.6 million, a decline of 9% compared to $48.8 million reported in the third quarter of 2008.
Enzon records revenues from [...]
Cornerstone Therapeutics Inc. (CRTX) reported third-quarter earnings per share of 7 cents, compared to a profit of 49 cents in the year-ago quarter. The Zacks Consensus Estimate was pegged at 1 cent.
Net revenues for the quarter were up 12.1% to $23.1 million as against $20.6 million in the year-ago quarter. Revenues were boosted by the [...]
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