GlaxoSmithKline profits sink in 2007
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Pharmaceutical giant GlaxoSmithKline said Thursday that net profits fell in 2007 due to disappointing sales of the diabetes drug Avandia and increased competition from generic drugs makers.
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Schering-Plough Corp  on Monday  reported third-quarter profit and sales that fell short of Wall  Street's target, sending shares down more than 10 percent amid  concerns about its flagship cholesterol drugs.
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Merck & Co. MRK.N on Thursday said  its quarterly profit fell 28 percent due to last month's recall  of its Vioxx arthritis drug, and the company predicted 2004  earnings will fall as much as 11 percent because of the recall.
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The drug company posts a wider Q3 loss than a year ago.
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Hershey Co.  on Thursday again cut its 2007 profit forecast as it spends more to try to jump-start flagging sales, while charges for a supply chain overhaul and higher dairy costs led to a drop in second-quarter profit.
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Schering-Plough Corp  on Monday reported third-quarter profit and sales that fell short of Wall Street's target, sending shares down more than 10 percent amid concerns about its flagship cholesterol drugs.
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British pharmaceutical giant GlaxoSmithKline said Wednesday that third-quarter profits fell owing to fierce competition from generic drugs and sliding sales of controversial diabetes drug Avandia.
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Bristol-Myers Squibb Co. BMY.N on  Friday reported a lower third-quarter profit as U.S. revenue  fell amid intense competition for its products from rivals and  generic drugs.
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Merck &amp; Co. Inc. (MRK.N: Quote, Profile, Research) , reeling from the recent withdrawal of its Vioxx arthritis drug, on Wednesday said 2005 earnings will decline to
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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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Bristol-Myers Squibb (BMY:NYSE - news - research) reported a sharply lower profit in the third-quarter as generic competition continued to eat away at drug sales and the company ratcheted up spending on research and development of new drugs.
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Shares dropped as the company forecast a decline in 2008 earnings due to generic competition and weaker sales for its diabetes pill.
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Merck & Co. MRK.N on Thursday  reported a 28 percent drop in quarterly profit and said 2004  earnings will fall as much as 11 percent due to last month's  recall of its Vioxx arthritis drug.
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UK business investment fell at the start of 2007, the first such decline for more than a year, official figures show.
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US drugs company Merck said its profits will fall next year as it continues to feel the pain of the withdrawal of its arthritis drug Vioxx from the market.
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Pharmaceutical giant GlaxoSmithKline PLC reported a 21 percent increase in fourth-quarter net profit on Thursday, as additional offerings of its key anti-depressant drugs began to offset some of the generic competition that has curtailed the company's sales.
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US doughnut giant Krispy Kreme reports a fall in income and widening losses for the second quarter of 2007.