Novartis cuts outlook, faces U.S. Tasigna delay
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Novartis AG lowered its full-year  results outlook as generic competition pressured sales of a key  blood-pressure drug, and said U.S. regulators had delayed the  approval process for an important cancer treatment.
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NEW YORK -- Pfizer Inc. will probably slash staff and accelerate merger and licensing deals, as the pressure on it to improve its financial performance intensifies after the weekend's announcement that the company has ended development of a key drug.
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U.S. regulators warned Novartis AG that a German plant has produced contaminated vaccines, and it has failed to track down the source of the problems, a letter released on Tuesday said.
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Chiron (CHIR:Nasdaq - news - research) said Thursday that it had found some problems with the production of its Fluvirin influenza virus vaccine, which will cause a delay in the product&#39;s reaching the market until early October.
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Shares of Chiron Corp. CHIR.O fell 7  percent before the market open on Friday, a day after the  biopharmaceutical company said it is delaying shipment of its  flu vaccine, Fluvirin, because lots containing 4 million  vaccines do not meet product sterility standards.
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Shares of Chiron Corp., the world&#39;s second-biggest seller of influenza vaccines, fell as much as 9.5 percent after saying it would delay shipments of its Fluvirin flu shots until October because of a possible product flaw.
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Pfizer is expected to see a sharp fall in sales of one of its best-selling drugs after a warning by US regulators.
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Swiss pharmaceutical giant Novartis AG said Tuesday it is temporarily withdrawing an application for European Union approval of its painkiller Prexige, but added that it will present new data this week to prove the safety and effectiveness of the drug.
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Merck & Co.  said on Friday it  would delay seeking approval for a combination pill designed to  lower "bad" cholesterol, increase "good" cholesterol and avoid  a common side effect of one of the ingredients.
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U.S. regulators have asked for more data  on Novartis AG's  diabetes drug Galvus, possibly  delaying approval of the potential blockbuster by a year, which  dented its shares while boosting its main rival's.
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WALL STREET analysts last night said a second experimental pain killer under development by Merck, the American drugs maker, could be delayed until 2007, after regulators asked for more information on the medicineâs safety.
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Swiss drugs firm Novartis says it is cutting about 2,500 global jobs in a bid to cut costs.
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Momenta announces a delay in the FDA review of its lead drug.
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Novartis AG posted a 1 percent increase in fourth-quarter profit Thursday as results were pressured by charges for looming litigation in the United States and a shake up in its generic drug business.
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The biotech company announces new drug delays.
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The Swiss pharmaceutical group Novartis withdrew on Tuesday an application for EU approval of a new arthritis drug called Prexige to await a review of such treatments next year.
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Shares of Chiron Corp. (CHIR.O) fell 7 percent before the market open on Friday, a day after the biopharmaceutical company said it is delaying shipment of its flu vaccine, Fluvirin, because lots containing 4 million vaccines do not meet product sterility standards.