Shares up sharply for drug maker Merck
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Shares of German drugmaker Merck KGaA climbed sharply Tuesday after the company released successful new study results for its cancer drug Erbitux. Shares of biotechnology company ImClone, which developed the drug, soared nearly 24 percent in the U.S.
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Merck released a forecast for first-quarter profit well above analystsâ expectations, and also increased its forecast for 2007.
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Shares of Sanofi-Aventis SA, the world&#39;s third biggest drugmaker, may rise after research presented at Europe&#39;s largest medical meeting showed two of the company&#39;s new drugs may benefit heart patients.
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German drugs and chemicals group Merck has reported quarterly earnings that have easily beaten forecasts thanks to strong sales of cancer drug Erbitux and a one-off payment for an alcoholism drug.
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Merck & Co. on Monday said  second-quarter earnings rose on higher sales of its new  vaccines and medicines, and the company raised its 2007 profit  forecast amid continuing strong demand for the medicines.
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U.S. stocks rose Monday on strong Merck & Co. profits and news of a nearly $18 billion oil services takeover, while Treasury bonds eased as reduced fears about the subprime credit market made riskier assets attractive again.
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U.S. drug benefit manager Medco Health Solutions Inc.  on Wednesday reported a higher-than-expected quarterly profit on strong demand for mail-delivered generic medicines and raised its 2007 outlook, sending its shares up more than 11 percent to an all-time high.
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Shares of Nastech Pharmaceutical Co. Inc. (NSTK.O: Quote, Profile, Research) soared 70 percent on Monday after the company said it had formed an alliance with Merck &amp; Co.
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U.S. stocks held solid gains on  Wednesday, as oil prices held below $42 a barrel and healthcare  stocks rose, with shares of drugmaker Merck & Co. MRK.N up  after issuing a 2005 forecast that was better than some  analysts had expected.
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European shares ended higher on Monday, buoyed by takeover activity as the London Stock Exchange hit a record high after Euronext made a bid approach, while drug makers recovered from a sharp fall.
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Merck & Co  on Monday said its  third-quarter profit rose sharply, helped by sales of its  vaccines and cholesterol drugs, and raised its 2007 profit  forecast in view of strong current trends.
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U.S. stocks ended higher on Wednesday,  with the dollar strengthening and shares of drugmaker Merck &  Co. MRK.N helping to lift the blue-chip Dow after the company  issued a forecast that was not as weak as some investors had  expected.
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Drug maker Merck &amp; Co. Inc. (MRK) dominated trading in US stocks on Thursday, single-handedly driving the 30-stock Dow Jones average lower after it withdrew its arthritis
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Drugmaker Merck & Co. Inc.  boosted its 2007 earnings forecast on Wednesday, citing better-than-expected sales of multiple products, including its cancer vaccine Gardasil and diabetes drug Januvia.
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Deals worth nearly 15bn euros have boosted share prices as Europe's pharmaceuticals sector consolidates further.
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YESTERDAY Close $54.64 Change +$1.53 52-WEEK High $55.14 Low $42.29 Merck &amp; Co., the third-largest US drug maker, reported a 63 percent increase in earnings and raised its forecast for the year after a vaccine for cervical cancer and a new pill for diabetes drove sales higher.
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Merck KGaA, the German drug and chemical company whose products include the multiple sclerosis drug Rebif and cancer treatment Erbitux, said Monday that its fourth-quarter profit soared to nearly $5 billion as it reaped the benefits of its acquisition of Serono and the divestiture of its generic drug unit.