Pfizer shares sink after key drug halted
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Shares of Pfizer Inc., the world's largest drugmaker, sank Monday on news that the company had halted development of a key new cholesterol treatment that was heralded as its engine for future growth as the company struggles with stagnant sales.
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The share price of US drugs giant Merck falls to an eight-year low after it announces that it has been forced to withdraw a key drug on side effect fears.
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Stocks fell on Friday, led by pharmaceutical shares after a US health official raised concerns about drug safety and a drop in chip-equipment makers following a ratings downgrade by Goldman Sachs.
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Risk is knocking Big Pharma stocks down. They won't be getting up anytime soon.
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Citing the &quot;interests of patient safety,&quot; US drug manufacturer Pfizer said it was stopping all clinical trials of the cholesterol-controlling drug Torcetrapib.
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Shares of Merck and Co. plunged nearly 27 percent Thursday on news that the pharmaceutical giant was pulling the popular arthritis pain medication Vioxx off the market.
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Shares in Merck, the US pharmaceuticals giant, plunged by almost 27 per cent yesterday after the company withdrew Vioxx, its $2.5bn (Â£1.
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Pfizer (PFE:NYSE - news - research) was treading water Monday morning, hovering around its 52-week low amid reports that it plans to halt advertising of its embattled painkiller Celebrex.
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Shares of Wyeth  and Pfizer Inc.  fell on Monday after Merrill Lynch downgraded the drugmakers and U.K. regulators issued tougher warnings on the type of popular depression drugs sold by the companies.
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U.S. stocks fell on Friday dragged  down by a string of negative reports from drug makers, with  Pfizer Inc. PFE.N, AstraZeneca Plc. AZN.L and Eli Lilly and  Co. LLY.N delivering bad news about key products.
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WASHINGTON (CBS.MW) - Pfizer shares tumbled more than 17 percent Friday morning after the company said a study of Pfizer&#39;s Celebrex drug for use in treating cancer has demonstrated an increased cardiovascular risk.
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Shares of Merck &amp; Co. plunged nearly 27 percent yesterday, pulling other stocks down with it, after the pharmaceutical giant yanked its Vioxx arthritis drug off the market because of heart safety concerns.
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Stocks inched lower on Friday,  pressured by a sharp drop in Pfizer Inc. PFE.N after the drug  maker said patients in a study showed an increased risk of  heart attacks after taking its popular Celebrex drug.
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NEW YORK -- Pfizer Inc. said yesterday it has halted all clinical trials and development for a cholesterol drug because of an unexpected number of deaths and cardiovascular problems in patients who used it.
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Shares in Pfizer Inc, the world's  biggest drugmaker, fell more than 10 percent in early trade in  Europe on Monday, after news it had scrapped its most important  experimental drug.
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Shares in Pfizer Inc, the world's biggest drugmaker, fell more than 10 percent in early trade in Europe on Monday, after news it had scrapped its most important experimental drug.
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Pfizer stock closed at $25.95, rising 4 percent. The stock began a rally earlier in the week on word that the US Food and Drug Administration had issued a warning of potential heart problems for naproxen.