Another day, another earnings report, or two. And who knows what else? As we assemble another interesting tale, we are also hunting and gathering all sorts of items. Here are a few for you. So grab your coffee or tea, or bottle of water, and catch up with the rest of us...
AstraZeneca reported fourth-quarter profit declined as cutbacks and acquisition costs swelled while demand for its biggest meds slowed. Net income fell 12 percent to $1.3 billion, or 86 cents a share, from $1.43 billion, or 93 cents, a year earlier, while sales increased to $8.2 billion. The drugmaker is eliminating 7,600 jobs, or 11 percent of its workforce. Meanwhile, the Nexium heartburn med and the Crestor cholesterol pill slowed because of competition from cheaper generics, a trend that will be exacerbated by Wyeth's new generic Protonix. (Read the AZ statement).
Daiichi Sankyo's Injectafer, which the company proposed selling for iron deficiency anemia, may pose "serious safety concerns," according to the FDA. The intravenous drug was linked in studies to more deaths, heart failure and lower blood phosphate than comparable treatments, agency reviewers wrote in a document posted today on the FDA web site. An advisory panel meets tomorrow.
Glaxo has asked European regulators to approve a vaccine protecting young children against meningitis, pneumonia and ear infections that would challenge Wyeth's Prevnar, Bloomberg News reports. Known as Synflorix, the vaccine would prevent illnesses caused by two bacteria, and immunization would also fight three types of one of the bacteria, which are linked to severe pneumococcal disease. Synflorix would be the first competition for Prevnar.