[ad_1] Pfizer on Tuesday posted a surprise adjusted fourth-quarter profit, as the company’s declining Covid business loss less revenue than expected. The company reversed roughly $3.5 billion in revenue related to the expected return of 6.5 million doses of its Covid drug, Paxlovid, from the U.S. government. That hit is less than the $4.2 billion Pfizer…
[ad_1] Test tubes are seen in front of a displayed AbbVie logo in this illustration taken on May 21, 2021. Dado Ruvic | Reuters Biotech stocks rose Thursday as AbbVie announced plans to buy cancer drug developer ImmunoGen for $10.1 billion. Shares of ImmunoGen jumped more than 80% Thursday, putting it on track for its…
[ad_1] CFOTO | Future Publishing | Getty Images Pfizer on Tuesday reported a narrower than expected adjusted loss for the third quarter as the drugmaker recorded charges largely related to struggles for its Covid antiviral treatment Paxlovid and Covid vaccine. Pfizer said that it recorded a $5.6 billion charge for inventory write-offs in the third…
[ad_1] Robert Galbraith | Reuters The Federal Trade Commission last week allowed Amgen to move forward with its $27.8 billion acquisition of Horizon Therapeutics under a settlement agreement – a move that could have ramifications for a string of other pharmaceutical industry buyouts. Some Wall Street analysts said the FTC’s decision to settle allows the…
[ad_1] The Amgen logo is displayed outside Amgen headquarters on May 17, 2023 in Thousand Oaks, California. Mario Tama | Getty Images The Federal Trade Commission on Friday said it has reached a deal with drug giant Amgen to allow the company’s $27.8 billion purchase of Horizon Therapeutics to move forward. The two companies now…
[ad_1] Developments in cancer research will be in the spotlight as the American Society of Clinical Oncology hosts the world’s biggest cancer research conference in Chicago, starting Thursday. Investors have already caught a glimpse of the topics that will be discussed but many are eager to hear the details behind the abstracts, and no doubt…
[ad_1] A logo for Pfizer is displayed on a monitor on the floor at the New York Stock Exchange, July 29, 2019. Brendan McDermid | Reuters Pfizer plans to raise $31 billion through a debt offering to fund its proposed acquisition of cancer drug maker Seagen, for what would be its largest takeover since 2009,…
