AstraZeneca and GSK shares rocked by safety concerns
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By Stephen Foley in London and Katherine Griffiths in New York. More than Â£6bn was wiped off the value of the UK&#39;s two giant pharmaceuticals companies yesterday as they and the US regulator attempted to quell a furore over drug safety.
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Shares of Merck (MRK) plunged more than 7% Monday after a report said the pharmaceutical giant apparently hid or denied evidence for years that its blockbuster arthritis drug Vioxx causes heart problems.
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GlaxoSmithKline PLC, the world's second-largest drug maker, began a campaign to challenge a report that linked its diabetes drug Avandia to heart risks and caused its stock to decline 11 percent in the eight days through Tuesday. The shares rose yesterday.
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By Rosie Murray-West, City Correspondent (Filed: 14/09/2004). Astrazeneca shares plummeted yesterday as investors and analysts digested the pharmaceutical giant&#39;s announcement over potential blockbuster drug Exanta.
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Shares in GlaxoSmithKline fall after it issues a profit warning on the back of falling demand for a key drug.
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Pfizer yesterday said new data showed the painkiller, Celebrex, more than doubled the risk of heart attacks, sending the US drugmaker&#39;s shares plunging.
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AstraZeneca Plc suffered its third setback in two months on Friday as lung cancer drug Iressa failed to help patients live longer
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Stocks fell on Friday, led by pharmaceutical shares after a US health official raised concerns about drug safety and a drop in chip-equipment makers following a ratings downgrade by Goldman Sachs.
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AstraZeneca, the troubled Anglo-Swedish drugs giant, is being urged by shareholders to waive a one million-pound (1.4 million-euro, 1.9 million-dollar) bonus being lined up for chief executive Tom McKillop following a string of company setbacks, a newspaper reported.
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Investors in pharmaceuticals were dealt a triple whammy on Friday as Pfizer Inc, AstraZeneca Plc and Eli Lilly and Co all shocked the market with bad news about key products.
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Shares in Merck, the US pharmaceuticals giant, plunged by almost 27 per cent yesterday after the company withdrew Vioxx, its $2.5bn (Â£1.
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The storm lashing big pharmaceutical companies over safety concerns about pain treatments such as Celebrex and Vioxx may actually blow some good in the direction of biotech stocks.
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Pfizer, AstraZeneca and Eli Lilly - each disclosed serious problems with important medicines yesterday, throwing a spotlight on the fact that the $500 billion
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AstraZeneca PLC&#39;s shares plunged 7.7 percent Friday after a study found that its new lung-cancer drug Iressa failed to improve survival rates among patients.
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A warning by the regulator who spearheaded investigations into Vioxx that five further drugs may have safety concerns has prompted a plunge in shares in major pharmaceuticals companies.
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Shares of large drug makers fell on  Thursday after a top U.S. cardiologist questioned the safety of  new arthritis drugs and the performance of U.S. regulators in  monitoring drug safety.
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Gaithersburg-based GenVec has run into a problem with its top drug candidate, and investors have had an adverse reaction. GenVec says the US Food and Drug Administration has requested that clinical trials