Genentech shares fall as Avastin disappoints
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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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Genentech Inc. on Monday said its colon cancer drug Avastin extended the life of patients when used in combination with a chemotherapy regimen called FOLFOX4 more than the chemotherapy alone in a late stage clinical trial.
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BASEL, Switzerland  - 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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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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Biotechnology company Genentech Inc  said on Monday its fourth-quarter profit rose 6.4 percent, but sales of its blockbuster cancer drug and others fell short of investor expectations, sending the company's shares lower.
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Stocks of branded and generic drug makers closed down a bit Tuesday as clinical study results mixed with merger updates. One of the big winners on the day was Nektar Therapeutics, on news that Exubera, the
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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 as much as 9.2 percent.
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Genentech Inc. barely scraped past Wall Street's expectations Monday as the biotech giant renowned for its phenomenal growth posted a 6 percent rise in fourth-quarter profits.
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Genentech Inc. and Swiss drug maker Roche Holding AG said Monday that a recent study showed their colon cancer drug Avastin significantly extended patient survival when combined with oxaliplatin-based chemotherapy drugs.
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Shares in OSI Pharmaceuticals (OSIP :Nasdaq - news - research) and Genentech (DNA :Nasdaq - news - research) jumped Friday after AstraZeneca (AZN :NYSE - news - research) said new medical data showed its lung cancer drug Iressa provided no survival
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Genentech appears to have resolved a dispute with ophthalmologists over use of the companyâs drug Avastin to treat eye diseases.
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GenVec Inc. has suspended human testing of its leading drug, a potential cancer therapy, after a patient died during a study. Its stock closed at $1.20, down $1.06. But analysts said the link between the death and the drug has yet to be proved. -The Washington Post
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Shares in Wyeth fell sharply on Monday after its heartburn medicine attracted generic competition and American regulators delayed its experimental drug for preventing bone loss.
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Drug stocks across the board fell amid renewed safety concerns over a class of blockbuster drugs used to treat arthritis. Preprint articles published on the New England Journal of Medicine&#39;s Web site Wednesday
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NEW YORK (CBS.MW) -- Merck (MRK) shares dipped almost 2 percent to $45.16, making it the biggest decliner in the Dow. The selling is related to just surfacing concerns about the safety of its Vioxx arthritis COX-2 inhibitor drug.
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Genentech Inc. and Swiss drug maker Roche Holding AG said Monday that a recent study showed their colon cancer drug Avastin significantly extended patient survival when combined with an oxaliplatin-based chemotherapy drug.
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The drug company's experimental treatment for Alzheimer's  failed to prove effective in a big clinical trial. The stock  closed Tuesday at $45.85 on the New York Stock Exchange before  falling 10 percent in after-hours trading following release of  the trial results.