Pfizer shares hit by drug failure
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Shares in US drugmaker Pfizer plunge after it halts development of its most important experimental drug.
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The stock is feeling some pain these days. However, this drugmaker has enough going for it that the illness shouldn&#39;t last. Amid nervousness over the future of Pfizer&#39;s arthritis pain treatment Celebrex and
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NEW YORK  - Drugs giant Pfizer Inc.&#39;s stock fell on a report that prescriptions for its blockbuster pain medication Celebrex slumped 56 percent last week.
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Pfizer Inc.  on Monday boosted  its quarterly dividend 21 percent after the surprise failure  early this month of its most important experimental drug and  resulting sell-off in company shares, and named Chief Executive  Jeffrey Kindler chairman of its board.
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Shares of Pfizer Inc. PFE.N closed  down more than 2 percent on Monday after an analyst lowered her  investment rating on the world's largest pharmaceutical  company's stock.
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THE pharmaceutical industry was reeling last night, as AstraZeneca and Pfizer put key drug development programmes on hold and Eli Lilly issued a warning on one of its best selling medicines.
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SHANGHAI -- Looking at the facts, the past year seems to have been disastrous for Worldbest Pharmaceutical.  First, there were reports of accounting irregularities and exaggerated profit. Half the managers were fired. Then, in the summer, six people died and at least 80 fell ill after receiving an antibiotic injection manufactured by a subsidiary. Most recently, the company warned investors that it was likely to report its third consecutive year of losses....
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Pfizer saw a 13 percent decline in sales of its best-selling cholesterol treatment, Lipitor, which contributed to lower-than-expected second quarter earnings.
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Pfizer Inc.&#39;s shares fell as much as 6.2 percent on Thursday on a Canadian newspaper report linking its arthritis drug Celebrex to 14 deaths.
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Pfizer Inc.'s decision to scrap development of a crucial medicine sent its shares plummeting yesterday as analysts fretted about its future and speculated about which companies it might purchase to shore up its pipeline.
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The discontinuation of Exubera, an inhaled insulin, is another black eye for Pfizer, the worldâs biggest drug company, which has sustained a series of recent reversals.
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Pfizer is a good company, but a bad stock for 2008.
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Investors are discouraged after it releases the latest data for its top drug.
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The Dow Jones industrial average fell  on Friday after Pfizer Inc. PFE.N shares opened nearly 19  percent down on trial data for its popular arthritis drug  Celebrex that showed increased risk of heart attack.
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AstraZeneca Plc suffered its third  setback in two months on Friday as lung cancer drug Iressa  failed to help patients live longer in a major clinical trial,  sending its shares down more than 8 percent.
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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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Shares in Anglo-Swedish drug giant AstraZeneca drop more than 8% in value after the failure of its Iressa drug in a major clinical trial.