Genentech Beats Forecast but Slips on a Core Drugâs Sales
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Genentech reported a 6 percent rise in fourth-quarter profit, but its stock slipped after news that its cancer drug, Avastin, failed to meet sales expectations.
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Amgen Inc. AMGN.O, the world's  biggest biotechnology company, on Wednesday said quarterly net  profit fell on acquisition charges, but adjusted earnings rose  21 percent on strong sales of its drugs for anemia and  arthritis.
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The drug maker Merck & Company forecast flat earnings for 2006 and slightly higher 2007 results as it grapples with generic competition.
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Genentech, the biotechnology company, posted a 41 percent increase in second-quarter profit on sales of its cancer drugs, continuing a positive earnings streak.
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I thought things were looking bad for Genta (Nasdaq: GNTA) back in May when the Food and Drug Administration&#39;s oncologic drugs advisory committee said the efficacy didn&#39;t
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Genelabs Technologies Inc. GNLB.O  said on Tuesday that a late-stage trial of its drug to limit  bone loss in women with lupus disease failed to work, sending  the company's shares down 75 percent.
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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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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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Schering-Plough Corp  on Monday  reported third-quarter profit and sales that fell short of Wall  Street's target, sending shares down more than 10 percent amid  concerns about its flagship cholesterol drugs.
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Merck & Co. on Wednesday maintained its forecast of flat earnings for 2006 and slightly higher 2007 results as the drugmaker grapples with generic competition, sending its shares down about 1.4 percent.
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Biotechnology firm Genentech Inc. said Wednesday that its third-quarter profit topped Wall Street expectations on a sharp rise in drug sales, and raised its yearly forecast to meet current targets.
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To turn its new multiple sclerosis treatment Antegren into a blockbuster drug with more than $1 billion in annual sales, Biogen Idec and its partner, Elan Pharmaceuticals, might not have to persuade doctors that it is superior to existing interferon treatments. Partial data released by the companies appear to confirm the treatment's outstanding clinical performance.
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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.
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GlaxoSmithKline PLC reported a 5.8 percent drop in third-quarter net profit Wednesday on strong generic competition and falling sales of its blockbuster diabetes drug in the United States.
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Drugmakers Merck & Co.  and Schering-Plough Corp.  reported second-quarter results that handily topped Wall Street expectations on Monday, helped by increased sales of the cholesterol-lowering drugs they co-market and other medicines.
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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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QLT announces sales results for its lead drug.