Genentech Beats Forecast but Slips on a Core Drugâs Sales
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Genentech reported a 6 percent rise in fourth-quarter profit, but its stock slipped after news that its cancer drug, Avastin, failed to meet sales expectations.
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Credit Suisse First Boston lowered 2005 earnings estimates for Pfizer (nyse: PFE - news - people ) after the generic version of Neurontin was launched earlier than expected.
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Sanofi-Aventis posted higher than expected fourth-quarter profits on Tuesday and predicted more growth for 2007, but a further delay in its key new anti-obesity drug Acomplia hit the shares.
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Genelabs Technologies Inc. (GNLB.O: Quote, Profile, Research) said on Tuesday that a late-stage trial of its drug to limit bone loss in women with lupus disease failed to work, sending the company&#39;s shares down 75 percent.
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YESTERDAY Close $54.13 Change -$1.32 52-WEEK High $61.60 Low $53.22 Drug maker Novartis AG posted an 18 percent rise in second-quarter earnings, led by strong sales across its divisions.
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Genentech Inc. barely scraped past Wall Street's expectations Monday as the biotech giant renowned for its phenomenal growth posted a 6 percent rise in fourth-quarter profits.
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Genentech Inc.  said on  Tuesday second-quarter net income rose 79 percent on higher  demand for cancer medicines and raised its full-year forecast,  but its stock fell as sales of colon cancer drug Avastin  disappointed investors.
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Cancer patients treated with Genentech Inc.&#39;s colon cancer drug bevacizumab (Avastin) along with the chemotherapy regimen FOLFOX4 lived longer than patients treated with the chemotherapy alone in a late-stage clinical
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Amgen Inc. AMGN.O, the world's  biggest biotechnology company, on Wednesday said quarterly net  profit fell on acquisition charges, but adjusted earnings rose  21 percent on strong sales of its drugs for anemia and  arthritis.
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INDIANAPOLIS, July 24  â Eli Lilly, with help from its core medicines Zyprexa and Cymbalta, beat Wall Streetâs second-quarter expectations Tuesday, although profits fell 19 percent at the pharmaceutical company because of acquisition costs.
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Merck & Co.  on Wednesday stood  by its forecast of flat earnings for 2006 and projected  slightly higher 2007 results, in line with Wall Street  expectations, as the drugmaker grapples with generic  competition for a number of its medicines.
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MedImmune's shares sank nearly 9 percent yesterday after the company reported weaker-than-expected fourth-quarter revenue for two high-profile products and disclosed a delay in filing for federal approval of a new version of Synagis, its lead drug.
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Pfizer Inc.  on Wednesday  reported lower-than-expected quarterly earnings on competition  with generics, and said global sales of cholesterol fighter  Lipitor fell 13 percent amid slipping demand for the company&#39;s  flagship product.
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Swiss drugmaker Novartis AG   missed forecasts with a 42 percent drop in  fourth-quarter net profit, hit by generic competition and a  one-off restructuring charge, sending its shares lower.
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Genentech announces positive second-quarter results, but investors remain worried.
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BASEL, Switzerland  - Novartis AG fourth-quarter net profit fell 42 percent to $931 million, missing forecasts, hit by generic competition and a one-off restructuring charge, the Swiss drugmaker said on Thursday.
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The biopharmaceutical company raised $108 million in an initial public offering that priced below a reduced forecast range.