Safety fears wipe billions off drug shares
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More than $31bn (Â£16bn) was yesterday knocked off the value of Pfizer, the world&#39;s largest pharmaceutical company and maker of Viagra, after doubts surfaced over the safety of one of its key drugs.
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Stocks of a powerful painkiller used to treat thousands of NHS patients may run out in the next few weeks, government has warned.
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US stocks fell as setbacks for drugmakers, including a study showing Pfizer Inc.&#39;s Celebrex painkiller increased the risk of heart attacks, sent health-care shares tumbling.
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PfizerÂs stock fell almost 11 percent on Monday in a trading frenzy that shaved more than $21 billion off its market value.
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Merck & Co Inc. MRK.N pulled its  arthritis drug Vioxx off the market on Thursday after a study  showed it doubled the risk of heart attack and stroke. The move  sent the company's shares plunging almost 27 percent and erased  $25 billion of its market value.
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Shares of large U.S. and European drug  makers fell on Thursday after a prominent cardiologist  questioned the safety of new arthritis drugs and the  performance of U.S. regulators in monitoring drug safety.
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Risk is knocking Big Pharma stocks down. They won't be getting up anytime soon.
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Shares of AstraZeneca Plc and GlaxoSmithKline Plc, the UK&#39;s two biggest drugmakers, fell after a US health official said two of their best-selling treatments need closer safety reviews.
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Shares in AstraZeneca tumbled today after a key drug it has developed in the fight against strokes was provisionally rejected by US regulators.
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An FDA official named and shamed several drugs offered by major drugs companies, causing their shares to fall sharply in early trading.
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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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Investors are wary of putting money  into beaten-down generic-drug stocks amid continued fears of  price competition in the sector and new obstacles from  brand-name drug makers.
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Drugs giant Merck and Co. shares plunged nearly 10 percent as the Wall Street Journal said the firm had fought for years to minimize the risks in its blockbuster pain drug Vioxx.
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The arthritis drug Vioxx, used by  millions of people around the world, is being pulled off the  market after a study confirmed long-standing concerns that it  raises the risk of heart attack and stroke, the manufacturer,  Merck & Co. MRK.N, said on Thursday.
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Shares in Pfizer Inc  fell around 14 percent in European and pre-opening U.S. trade on Monday after the world's biggest drugmaker scrapped development of its most important experimental medicine.
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The arthritis drug Vioxx, used by millions of people around the world, is being pulled off the market after a study confirmed long-standing concerns that it raises
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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.