Vaccine maker slices profit forecast in half
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Britain has pulled license for Chiron, which was to provide half of U.S. stock of flu vaccine.
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AstraZeneca reported a 12.5 percent drop in profit and Bristol-Myers Squibb posted a loss, albeit a narrower one.
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The maker of Colgate toothpaste and Irish Spring soap  warned that earnings for the second half of the year will fall  short of earlier forecasts due to high marketing costs.
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The company that makes half the flu  vaccine used in the United States said on Tuesday it will not  supply any vaccine for the coming flu season because of  problems at its plant in Britain, throwing a major U.S. flu  drive into disarray.
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The company said quarterly profit rose to $494 million despite a slowing U.S. economy, but it lowered its full-year earnings outlook.
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The company said fourth-quarter earnings rose 17 percent on higher sales of its Enbrel arthritis drug and Prevnar vaccine, but said generic competition would hit 2008 profit.
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Pharmaceutical wholesaler McKesson  Corp  reported on Thursday that its quarterly profit  fell 17 percent as results were hurt by lower profit margins on  certain generic drugs and charges taken.
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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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Considering the debacle with the flu vaccine, Chiron&#39;s (Nasdaq: CHIR) earnings release announcing that it beat analyst expectations is more than somewhat superfluous.
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Third-quarter profit fell 1 percent, as stronger sales of almost all of the companyâs key drugs could not offset  higher production costs and taxes and a restructuring charge.
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Third-quarter profit fell 1 percent, as stronger sales of almost all of the companyâs key drugs could not offset higher production costs and taxes and a restructuring charge.
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The big drug maker yesterday told Wall Street that the recent withdrawal of its Vioxx painkiller will dampen 2005 earnings even more than previously expected.
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Shares of Chiron Corp., the world&#39;s second-biggest seller of influenza vaccines, fell as much as 9.5 percent after saying it would delay shipments of its Fluvirin flu shots until October because of a possible product flaw.
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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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Shares of Chiron Corp. CHIR.O fell 7  percent before the market open on Friday, a day after the  biopharmaceutical company said it is delaying shipment of its  flu vaccine, Fluvirin, because lots containing 4 million  vaccines do not meet product sterility standards.
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The British pharmaceuticals giant GlaxoSmithKline announced a nine percent drop in annual pretax profits which were hit by sales of generic drugs and a weaker dollar, but the group looked ahead to a strong 2005.
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Chiron, the biotechnology company that left the US short of half its normal supply of flu vaccine this winter after contamination fears at its Speke factory in Liverpool, has