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Abbott Labs (ABT)

Abbott Labs today announced that it has completed its acquisition of privately held eye care company Visiogen, expanding the company's vision care business with a next-generation accommodating intraocular lens (IOL) technology to address presbyopia for cataract patients.
Abbott's $400 million cash purchase of Visiogen boosts the company's presence in the vision care segment, which it entered in February 2009 with its acquisition of Advanced Medical Optics.

Oct 21 · 11:53:00 AM · Source: Reuters
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by Michael Oliveto

Genzyme (GENZ)

Genzyme Corp. (NASDAQ: GENZ) today reported that third-quarter revenue was $1.06 billion, compared with $1.16 billion in the same period a year ago. Results reflect the impact of the temporary interruption in production of Cerezyme® (imiglucerase for injection) and Fabrazyme® (agalsidase beta) associated with the remediation of the company’s Allston manufacturing facility. GAAP net income was $16.0 million, or $0.06 per diluted share, compared with $119.6 million, or $0.42 per diluted share, in the third quarter of 2008. Non-GAAP net income was $83.9 million, or $0.31 per diluted share, compared with $151.4 million, or $0.53 per diluted share, in the same period last year. Non-GAAP net income excludes purchase accounting and inventory step-up associated with the acquisition of Bayer oncology assets, and stock compensation.
The company's CEO said that during the next 12 months "we will invest in our existing business and pipeline, while making changes to become stronger and build for our future.”

Oct 21 · 10:12:00 AM · Source: Business Wire
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by Larry Etter

Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb announced that new clinical data support continued development of a subcutaneous administration of ORENCIA (abatacept) for patients with moderate to severe rheumatoid arthritis.
Bristol Myers-Squibb has a comprehensive development program underway to evaluate the potential subcutaneous administration of ORENCIA through an injection into the skin in adults with moderate to severe rheumatoid arthritis. ORENCIA is already available for the treatment of adults with moderate to severe rheumatoid arthritis. The subcutaneous program utilizes a new formulation of ORENCIA, which has been specifically designed for subcutaneous administration.

Oct 20 · 2:22:00 PM · Source: Reuters
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by Michael Oliveto

Baxter International (BAX)

Baxter International was found by the FDA to have failed to follow good manufacturing practices as outlined in a letter to the company.
The FDA said it inspected Baxter plants and corporate offices in Illinois, California and Germany between April and June 2009 and found the company has failed its commitment to quality. A representative for the company couldn't immediately be reached for comment.

Oct 20 · 2:14:00 PM · Source: The Wall Street Journal
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by Michael Oliveto

IMS Health (RX)

The Board of Directors of IMS Health (NYSE: RX) today declared a regular fourth-quarter 2009 dividend of $0.03 per share, payable on December 4, 2009 to shareholders of record at the close of business on November 6, 2009.

Oct 20 · 2:07:00 PM · Source: Business Wire
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by Larry Etter

Abbott Labs (ABT)

Abbott Labs was granted 510(k) clearance by the FDA for an antibody cyclic-citrulinated peptide, or anti-CCP assay, to run on its ARCHITECT immunoassay analyzers.
Many patients with RA develop an immune response against proteins containing citrulline long before they present symptoms of the disease. Studies show detecting the level of these antibodies earlier in the disease continuum, in conjunction with other clinical information, is critical to the early diagnosis of the disease.

Oct 20 · 12:25:00 PM · Source: Reuters
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by Michael Oliveto

Pfizer (PFE)

Pfizer Inc. on Tuesday posted a higher third-quarter profit despite the recession, as sharp cost cuts made up for a dip in sales.
The maker of cholesterol fighter Lipitor, impotence treatment Viagra and smoking cessation drug Chantix slashed costs on everything from manufacturing and marketing to research and development to produce a profit of $2.88 billion. That was up 26 percent from $2.28 billion a year earlie

Oct 20 · 12:24:00 PM · Source: AP
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by Larry Etter

Forest Laboratories (FRX)

Forest Laboratories said quarterly revenues increased to $1,063,934,000 versus year prior period of 992,506,000. Net income for the quarter was $186,662,000 vs. $244,086,000

Oct 20 · 10:55:00 AM · Source: Business Wire
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by Larry Etter

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