Profit at Biogen Rises 84% on 2 Drugs
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BOSTON  Â Biogen Idec said on Wednesday its fourth-quarter profit rose 84 percent, topping expectations, driven by increased sales of its multiple sclerosis drugs Avonex and Tysabri.
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Walgreen Co. WAG.N on Monday posted a  30.5 percent rise in quarterly profit, boosted by sales of  generic drugs and digital photo processing, sending its shares  to a nearly three-year high.
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Standard &amp; Poor&#39;s Equity Research reiterated a &quot;hold&quot; rating and $68 target price on Biogen Idec (nasdaq: BIIB - news - people ), saying the anticipated success of the company&#39;s Antegren drug is largely factored into the share price.
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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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The drugmaker posted third-quarter net income of $1.53 billion as revenues increased by double digits, while lower costs offset more spending on research and development.
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Genentech and Biogen Idec's drug shows positive results against multiple sclerosis.
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Shares of Biomira Inc., a Canadian drug developer, jumped 94 percent and Merck KGaA, Germany&#39;s fourth-largest drugmaker, rose as much as 6.4 percent after the companies said data from
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Partners HealthCare , the parent of Massachusetts General Hospital and Brigham and Women's Hospital , reported a 75 percent increase in operating profit to $133 million in the fiscal year ended Sept. 30, up from $76 million the year before. Nonoperating revenue was $492 million, including investments, private philanthropy, and a $186 million payment from Amgen Inc. to ...
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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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Novartis AG, Switzerland s biggest drugmaker, said third-quarter profit rose 21 percent as demand increased for the hypertension treatment Diovan and the cancer pill Gleevec.
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Biotechnology company Genentech Inc   said on Monday its fourth-quarter profit rose 6.4  percent, but sales of several drugs, including blockbuster  cancer drug Avastin, fell short of investor expectations,  sending the company's shares lower.
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Pharmaceutical group Sanofi-Synthelabo said it had increased net profit in the first half of the year by 20.6 percent from the same period last year to 1.138 billion euros (1.38 billion dollars).
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BASEL, Switzerland  - Profits at Roche Holding AG leapt 34 percent in 2006 on strong sales of cancer treatments Herceptin and Avastin and flu drug Tamiflu but worries over future margins hit the stock on Wednesday.
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Genentech Inc.  said second-quarter profit on Wednesday rose 41 percent, fueled by cost cutting and growth from its cancer drug Avastin.
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Fourth-quarter profit surged from a year-ago period that included hefty restructuring costs and liability charges related to the companyâs top-selling drug, Zyprexa.
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Amgen  reported on Thursday that its fourth-quarter profit edged higher as cost cutting helped offset sharply declining sales of its anemia drugs that have been hit with safety concerns and new restrictions on use and insurance reimbursements.
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World&#39;s No.2 biotech company beats Wall Street consensus and raises its full-year profit forecast. NEW YORK  - Genentech Inc.