Health Care

Headline News

Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb Dividend Announcement

Bristol-Myers Squibb declared a regular quarterly dividend in the amount of $.32 per share payable June 1, 2010 to shareholders of record on May 7, 2010.
At today''s $25.10 stock price the dividend yield is 5.10%.

Mar 5 · 10:03:00 AM
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by Rich Pike

Merck (MRK)

Australia Court Dismisses Claims Against Merck

Today, the Federal Court in Australia dismissed all claims against Merck & Co., Inc. specifically finding that Merck was not negligent in its development, scientific study and sale of Vioxx.
The Court dismissed all claims against Merck & Co., Inc. specifically finding that Merck was not negligent in its development, scientific study and sale of Vioxx. Merck and MSD Australia disagree with the limited portions of the Court’s findings that were against MSD Australia and intend to appeal them.

Mar 5 · 9:59:00 AM
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by Rich Pike

Johnson & Johnson (JNJ)

J&J Reaffirms Fiscal 2010 Guidance

Reuters.com is reporting that Johnson & Johnson announced that for fiscal 2010, it continues to expect earnings of $4.85 to $4.95 per share. According to Reuters Estimates, analysts on an average are expecting the Company to report earnings per share (EPS) of $4.92 for fiscal 2010.
At today's stock price of about $63.80, with a 2010 EPS of $4.92 that results in a forward PE of about 13. That seems like a flat out steal of a valuation for J&J.

Mar 5 · 9:55:00 AM · Source: Reuters.com
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by Rich Pike

Abbott Labs (ABT)

Abbott and GSK Team on Skin Cancer Test

Abbott announced today that it has entered into an agreement with GlaxoSmithKline (GSK) to develop a molecular diagnostic test intended for use as an aid in selecting patients who may benefit from a skin cancer treatment in development by GSK.
"This is an exciting continuation of our important collaboration with GSK, a leading company in cancer immunotherapy research," said Stafford O'Kelly, head of Abbott's molecular diagnostics business. "The agreement is indicative of our commitment to personalized medicine and our focus on developing innovative companion diagnostic tests that can be used to identify patients most likely to benefit from specific cancer therapies."

Mar 4 · 10:44:00 AM · Source: Reuters.com
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by Rich Pike

Pfizer (PFE)

Pfizer and Medivation Alzheimer's Results

Pfizer and Medivation announced results from two Phase 3 trials of the investigational drug dimebon (latrepirdine*) in patients with Alzheimer`s disease (AD). In the CONNECTION trial, dimebon did not meet its co-primary or secondary efficacy endpoints compared to placebo. Co-primary endpoints were measures of cognition and global function.
Dr. David Hung, president and chief executive officer of Medivation, described the results as "unexpected" and said they are "disappointed". That's not good. Pfizer is under a lot of pressure to replace sales from Lipitor, which goes off patent next year.

Mar 4 · 10:41:00 AM · Source: Reuters.com
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by Rich Pike

Johnson & Johnson (JNJ)

J&J to Cut Bonus Targets for Some

The Wall Street Journal is reporting that Johnson & Johnson plans to cut the yearly performance-bonus maximums for 38% of its employees and freeze salaries for certain workers, according to an internal announcement and other company documents. J&J reported a 19% drop in fourth-quarter earnings, largely because of charges related to cost restructuring. The company had announced in November that it was eliminating 8,200 jobs, mostly overseas.
"The cost savings from this program are minimal. It is not why we implemented the program. This program is about creating a global compensation program that is consistent and equitable for our employees across the company," a J&J spokeswoman said.

Feb 18 · 12:10:00 PM · Source: Wall Street Journal
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by Rich Pike

Genzyme (GENZ)

Genzyme Reports 4th Qtr and Full 2009 Results

Genzyme reported fourth-quarter GAAP net income was $23.2 million, or $0.09 per diluted share, compared with $86.7 million, or $0.31 per diluted share, in the same period in 2008. Non-GAAP net income was $83.5 million, compared with $118.2 million in the fourth quarter of 2008. Non-GAAP earnings were $0.31 per diluted share, compared with $0.42 per diluted share in the prior fourth quarter.
Non-GAAP earnings in 2010 are expected to increase to $2.80 – $3.20 per diluted share. GAAP earnings are expected to reach $1.90 – $2.27 per diluted share. Revenue is expected to reach $5.23 – $5.53 billion in 2010, compared with $4.52 billion in 2009.

Feb 18 · 9:45:00 AM · Source: Company Press Release
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by Rich Pike

Quest Diagnostics (DGX)

Quest Diagnostics Declares Dividend

Quest Diagnostics today announced that its Board of Directors declared a quarterly cash dividend of $0.10 per share, payable on April 20, 2010, to shareholders of record of Quest Diagnostics common stock on April 6, 2010.
Quest Diagnostics is the world's leading provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative new diagnostic tests and advanced healthcare information technology solutions that help improve patient care.

Feb 12 · 7:22:00 AM · Source: Company Press Release
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by Rich Pike


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