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Merck (MRK)

Merck & Co.'s (MRK) third-quarter profit more than tripled on a gain from the sale of the drug maker's stake in an animal-health joint venture, while a continued rebound in a blockbuster asthma drug helped overall sales inch higher.
For the three months ended Sept. 30, Merck reported net income of $3.4 billion, or $1.61 a share, up from $1.09 billion, or 51 cents a share, a year earlier. The latest quarter included a gain of $1.7 billion from Merck's sale of its 50% interest in the Merial animal-health joint venture to Sanofi-Aventis SA (SNY), which already owned the other half.

Oct 22 · 9:24:00 AM · Source: Wall Street Journal
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by Larry Etter

Gilead Sciences (GILD)

Gilead reported Q3 earnings of $0.72 per share on net income of $673 million versus $0.52 per share on net income of $495.9 million in the year ago period.
The results beat the average analyst forecast of 67 cents a share. Quarterly revenue rose 31% to $1.8 billion.

Oct 21 · 3:11:00 PM · Source: Reuters
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by Michael Oliveto

Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb announced plans to close its Evansville, Indiana quality control facility effective December 31 and to implement a reduction in force at its Mount Vernon, Indiana facility.
In a Worker Adjustment and Retraining Notification Act (WARN) filing Tuesday with the Indiana Department of Workforce Development, the company said it anticipates 113 full-time employees will be separated from employment. Of those, 79 are employed at Evansville and 34 at Mount Vernon, according to the filing.

Oct 21 · 12:22:00 PM · Source: m.courrierpress
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by Michael Oliveto

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

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