Wyeth Hit by Generic Competition and Regulatory Setback
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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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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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A federal judge blocked sales of a generic version of blood thinner Plavix yesterday while he considers the merits of a claim that a Canadian pharmaceutical company improperly entered the market.
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Wyeth (nyse: WYE - news - people ) is set to begin the second phase of a Philadelphia trial in which a plaintiff alleges heart valve injury from the use of the diet drug Pondimin, a drug the company once marketed.
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Wyeth WYE.N on Wednesday reported a  third-quarter profit compared to a year ago, when it took a  large charge for liabilities from its recalled "fen-phen" diet  medicines.
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U.S. regulators said on Friday they would review whether to take action over Merck & Co Inc's and Schering-Plough Corp's popular cholesterol medicine Vytorin after a study showed it was no better than a generic drug in preventing the build-up of fatty plaque.
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Wyeth said on Monday it was recalling  several of its Robitussin cough, cold and congestion products  and its Children's Dimetapp Cold & Chest Congestion medicine  because their dosage cups lack a measurement mark for young  children.
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WASHINGTON - The bill Congress is soon expected to pass giving regulators more authority over pharmaceutical companies is most significant to biotech drug makers and their would-be generic rivals because of what was left out.
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The supply of low-cost generic versions of cancer and AIDS treatments for the developing world could be blocked if Novartis wins a legal challenge to Indiaâs patent law.
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U.S. regulators said on Friday they  would review whether to take action over Merck & Co Inc's   and Schering-Plough Corp's  popular cholesterol  medicine Vytorin after a study showed it was no better than a  generic drug in preventing the build-up of fatty plaque.
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The two companies do not operate in all the same markets, but Monday's warnings seemed to suggest that both were suffering from tougher competition in some areas.
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The company is ready to handle competition from generics.
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Drug maker Wyeth said Monday that it will challenge British regulators&#39; decision to revise the label for its Efexor anti-depressant to state that patients with heart disease should not take the medication.
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The heartburn drug Protonix could face early generic competition, after a federal judge cleared the way for a generic version of the medicine.
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Wyeth on Monday reported a quarterly  loss due to a $4.5 billion charge for its recalled "fen-phen"  diet drugs and warned of disappointing profit for 2005, sending  its shares down almost 8 percent.
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U.S. regulators said on Friday they would review whether to take action over Merck & Co Inc's  and Schering-Plough Corp's  popular cholesterol medicine Vytorin after a study showed it was no better than a generic drug in preventing the build-up of fatty plaque.
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Novartis AG  cut 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.