Outside the sumo ring, obesity is not the most pressing problem in generally snake-hipped Japan. It is thus symbolic of Japan's pharmaceutical industry that Takeda should this week have struck a deal with Amylin Pharmaceuticals, a US biotechnology firm, to develop fat-busting medicines whose main markets will be in wide-girthed America and Europe.
On March 18, 2010, Somaxon Pharmaxeuticals (SOMX) was granted FDA approval to sell Silenor 3 and 6 mg. tablets for the treatment of insomnia characterized by difficulty with sleep maintenance.This approval was met with a stock price move from 4 to 10 dollars.Shares were only 30 cents just one year earlier.The stock has lost half its value since the day after FDA approval to just above 5 dollars.Can the stock rebound or will the price continue to drop?
ByMarch21, 2010, theU.S. FoodandDrugAdministration (FDA) isexpectedtodecideonthemarketingapproval of Somaxon Pharmaceuticals, Inc.'s (SOMX) drug Silenor, designed for the treatment of insomnia, whichistheinabilityofanindividualtofallasleeporremainasleepforanadequateperiodoftime. The stock is currently trading at $4.05, with a market cap of $95.7 million.
AstraZeneca (AZN) said it will eliminate an additional 8,000 jobs or about 12 percent of its workforce as it seeks to cut costs in the face of declining revenue and lowered its forecast for 2010. The announcement came as the company reported earnings that fell short of expectation. The company said the next five years will be difficult as key products come off-patent. AstraZeneca expects to save $1.8 billion a year as a result of the cuts by 2014, but would take a $2 billion restructuring charge. It also announced it would buy back up...
For those of you caught up in the antics on Capitol Hill, you may not have noticed something this week that I found quite extraordinary. As of Friday morning, I was able to identify 18 companies that resumed paying or increased their dividends in this holiday-shortened week. Here they are:
It should come as little surprise that many stocks that make it into the Magic Formula Investing [MFI] screen are attractive acquisition targets. Many, if not most, are good businesses selling at cheap prices, exactly what the screen is designed to find. When you have quality selling cheap, not only individual investors but business managers, both public and private, take notice as well. Particularly if the screened business is one that is a current or potential competitor, or a business that nicely compliments current operations, it makes sense to acquire it at a favorable price....
Here we are again with another highly anticipated FOMC announcement due out this afternoon and the market is showing signs of strength.
Generally, you can see pre-fed sector leaders emerge post-fed statements. If this rings true today, Technology will lead us down or Basic Materials will lead us higher (weakest vs. strongest in last 5 days). This time it may be more about Gold than anything else, based on Tuesday's breakout traders are betting on signs of inflation. Will the Fed statement later today support or challenge the new record highs in Gold?
Ultimately, the unknown results of U.S. healthcare reforms is like shooting dice in Las Vegas as tax-payers and small companies that employ 62% of Americans wonder just how it will effect their wallets. Still most agree, with healthcare costs almost 17% of U.S. GDP, industry reform must happen particularly in light of the Obama administration’s unwavering political gamble that now must produce some measure of reform.
Monday, preparation for the coming reform is already underway on Wall Street with drugmaker Eli Lilly & Co. (LLY)...
Biotech shoppers made some big bets as the summer drew to a close, capped off by Biogen Idec's (BIIB) bid to acquire all of the outstanding shares of Facet Biotech (FACT) for $14.50 per share in cash, a 64 percent premium to its closing price the previous day. Biogen first conveyed its interest in Facet on August 17, offering to buy the company for $15 per share. The offer was rejected a week later. In a letter sent to...
Well, I didn't see this one coming. Dainippon Sumitomo has announced that it's buying Sepracor (SEPR). My first thought on reading this was "Are they sure they want to do that?"
I say that because the ostensible reason that the Japanese company is pulling out their wallet is that they're looking to replace declining revenues at home. In that case, why are they buying declining revenues over here? Their flagship product (Lunesta) is going off patent in the not-too-distant future,...
Stocks opened steady following a mixed monthly unemployment report and have been able to build modest gains by late Friday. The major averages opened steady after the Labor Department reported that the US economy lost 214,000 jobs during the month of August. The decline follows a 276,000 loss the month before (revised from 247K) and was not quite as bad as the 230,000 decline economists had predicted.
Average hourly earnings rose .3 percent, and more than the .1 percent economists expected, but the rate of unemployed increased to 9.7 percent from 9.4 percent, which was more than...
Stock News 
On March 18, 2010, Somaxon Pharmaxeuticals (
Ultimately, the unknown results of U.S. healthcare reforms is like shooting dice in Las Vegas as tax-payers and small companies that employ 62% of Americans wonder just how it will effect their wallets. Still most agree, with healthcare costs almost 17% of U.S. GDP, industry reform must happen particularly in light of the Obama administration’s unwavering political gamble that now must produce some measure of reform. 
