During Monday's CNN/Tea Party debate, Rep. Michele Bachmann criticized Texas Gov. Rick Perry's short-lived 2007 executive order requiring girls to get a vaccination for human papillomavirus, claiming in part that his former chief of staff lobbied for the drug maker, and that the company made millions of dollars because of the order.
Stocks ended Friday's session sharply lower, posting their worst weekly performance in more than a year, as investors grow increasingly worried that Washington may not reach a deal to raise the debt ceiling before the deadline.
Stocks ended mixed Tuesday for the second day in a row, after declining most of the session, following a troubling report on consumer confidence and some trepidation about what the Federal Reserve will decide at the conclusion of its two-day meeting that began this morning.
After the latest round of mixed earnings from the biggest players in pharma and biotech, companies are hampered by a frustrating dynamic: a product mix that isn't strong enough to match an exodus of blockbusters.
Merck's $702 million deal with Swiss biotech Addex, announced today, to co-develop a schizophrenia drug may not be a huge deal in the multibillion-dollar world of Big Pharma. But it offers further evidence that the U.S. drug giant is securing its future by essentially outsourcing its research and development to smaller, nimbler firms.
Stocks were poised for a lower open Tuesday as Federal Reserve officials voiced new worries about the economy, drugmaker Merck gave disappointing 2008 guidance, and lawmakers turned their sights on credit card debt as a fresh area of worry.
In a major legal victory for Merck & Co. in its massive Vioxx litigation, New Jersey's Supreme Court on Thursday rejected a potential class-action lawsuit that could have cost the drugmaker up to $18 billion.
The successful launch of a blockbuster drug depends heavily on Big Pharma's ability to custom-tailor its sales pitch country-by-country, a difficult task in which few drugmakers excel, according to a study from research firm IMS Health.
Shares of traditional drug makers left biotechs in the dust in the first half of 2007, a role-reversal of the recent past, when investors favored the fast-growing but risky biotechs over so-called Big Pharma stocks.
After a rough couple of years dealing with patent expirations and the often frustrating hunt for new products, drug industry executives would love nothing better than an oracle to predict what products in their labs will become the big blockbuster drugs over the next few years.
Drugmaker Merck & Co. faces a potential $5.58 billion in tax liabilities from U.S. and Canadian authorities related to a number of disputes over accounting for past transactions, the company said in a filing Tuesday.
The New England Journal of Medicine posted a correction in its current issue, removing its previously published finding that it takes at least 18 months for heart attack risks to increase from use of Vioxx, the anti-arthritis painkiller that Merck pulled from the market.
Merck, the no. 2 drugmaker in America, said on Tuesday that it made a correction to the study that led to the withdrawal of its arthritis painkiller Vioxx, but that it didn't change the results of the study.
Merck announced that Vioxx patients did not suffer an increased risk of heart attacks from blood clots after they stopped taking the drug, though the company said it would not change its legal strategy regarding the withdrawn painkiller.
Drugmaker Merck & Co. -- set back on its heels last year when its Vioxx painkiller was forced off the market -- named company veteran Richard T. Clark as its new CEO and president Thursday, succeeding Raymond Gilmartin, who is retiring next year.