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PHARMACEUTICAL NEWS LINES

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Takeda sees big profit slump on Millennium costs (Reuters) Reuters - Japan's Takeda Pharmaceutical Co Ltd (4502.T) posted a 77 percent drop in quarterly operating profit as it spent to boost its pipeline, and forecast a sharp fall in annual income linked to the costs of its $8 billion-plus purchase of Millennium Pharmaceuticals.




Drugmakers need to rein in ads, hearing told (Reuters)

A lab worker displays a handful of pills in an undated file photo. (File/Reuters)Reuters - Pharmaceutical companies need to be more responsible in touting products to consumers or else face tighter controls from Congress, a top U.S. Democratic lawmaker said on Thursday.





Global Piracy Rampant -- But You Can Fight Back (NewsFactor) NewsFactor - Piracy is running rampant, according to a report from the U.S. government. Not the kind of pirates with eye patches and parrots on their shoulders, but rather the kind that downloads content illegally from the Internet, counterfeits products, and generally hijacks the profits of pharmaceuticals, electronics, software, and other goods. ......


Teva first-quarter net profit down on CoGenesys charge (Reuters) Reuters - Teva Pharmaceutical Industries Ltd , the world's largest generic drugmaker, on Tuesday reported a drop in its first-quarter net profit, weighed by a charge tied to its acquisition of CoGenesys.


Teva quarterly net profit down on CoGenesys charge (Reuters) Reuters - Teva Pharmaceutical Industries Ltd , the world's largest generic drugmaker, on Tuesday reported a drop in its first-quarter net profit, weighed by a charge tied to its acquisition of CoGenesys.


Merck to cut 1,200 sales jobs following regulatory setback (AP) AP - Merck & Co. said Monday it is eliminating 1,200 U.S. sales jobs, a move that comes a week after federal regulators' surprise rejection of an experimental cholesterol drug heavily touted by the pharmaceutical company.


CVS Caremark posts higher 1st-quarter profit (Reuters)

A woman walks past a CVS drugstore in Boston in a file photo. CVS Caremark Corp posted higher quarterly profit on Thursday, helped by the addition of Caremark's pharmacy benefits business. (Brian Snyder/Reuters)Reuters - CVS Caremark Corp posted higher quarterly profits in line with analysts' estimates on Thursday, as the addition of Caremark's pharmacy benefits business helped offset the impact of lower-priced generic drugs on drugstore sales.





CVS Caremark 1Q profit rises as sales climb (AP) AP - CVS Caremark Corp., the nation's biggest pharmacy chain, said Thursday that first-quarter profit jumped 84 percent, helped by surging sales in the wake of last year's purchase of Caremark.


Correction: Rocking for a Cure story (AP) AP - In an April 26 story about Emily Schaller, a rock band drummer who supports cystic fibrosis research, The Associated Press erroneously reported the corporate backer of her Web site video on healthy lifestyles for CF patients. Schaller worked with Novartis Pharmaceutical Corp. on the Web site, not the Cystic Fibrosis Foundation.


Market wavers as drugs weigh; Citi down late (Reuters)

Traders work on the floor of the New York Stock Exchange, April 29, 2008. (Brendan McDermid/Reuters)Reuters - Stocks ended little changed on Tuesday as setbacks for two drugs weighed down the pharmaceutical sector, offsetting the relief from a retreat in record high crude oil prices.





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