BloggingStocks

Pfizer cancels obesity drug, the latest to do so

Melly Alazraki — Thu, 06 Nov 2008 11:51:00 EST

Filed under: Products and Services, Pfizer (PFE), Bristol-Myers Squibb (BMY), Merck and Co (MRK)

The stock price of Pfizer Inc. (NYSE: PFE) has been declining this morning. Pfizer canceled the development of an obesity drug for which many had high hopes, especially in light of the looming 2011 Lipitor blockbuster cholesterol drug patent expiration. Pfizer may find it hard to post growth without it.

Pfizer is not the only pharma that has recently canceled the same class of obesity drugs. Only Wednesday, Sanofy Aventis (NYSE: SNY), after stopping sales in Europe of its version of the drug, Acomplia, also stopped clinical trials on humans. Merck & Co. (NYSE: MRK) stopped development of a similar drug candidate called Taranabant a few weeks ago. Those companies all had high hopes the drug could be used for smoking, diabetes and high cholesterol along with obesity. According to Bloomberg, only Bristol-Myers Squibb Co. (NYSE: BMY) is still developing a similar medicine.

Why are they all stopping? Mostly because they figured regulators around the world will not approve the drug due to negative psychiatric side-effects. This class of drug works on blocking the pleasure centers in the brain, specifically, it blocks the cannabinoid type 1, or CB1, receptors. If cannabinoid sounds familiar, it is because this is the very same pleasure centers that give marijuana smokers the "munchies." By blocking these centers, studies have shown people have become depressed and had suicidal thoughts.

Perhaps not having chemical and pharmaceutical degrees I'm missing something, but it seems rather straight forward that if one's pleasure centers are blocked, depression could ensue. Even if it just blocks one specific type, that could be enough to create an imbalance.

Usually regulators weigh costs, risks and benefits of the drug and the condition treated, often approving drugs with severe side effects. These drugs are our best option currently. But drug companies should change their attitude somewhat, and when developing new drugs, place more emphasis on looking at the the body as one whole entity, and see how the drug interacts with the rest of the body, not just if it can treat the specific condition.

Pfizer cancels obesity drug, the latest to do so originally appeared on BloggingStocks on Thu, 06 Nov 2008 11:51:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Market highlights for next week: Covansys holds special shareholder meeting

Eric Buscemi — Fri, 22 Jun 2007 16:00:00 EST

Filed under: Earnings Reports, Deals, Conventions and Conferences, NIKE, Inc'B' (NKE)

Next week's highlights include Covansys' shareholders meeting, where the Computer Sciences Corp acquistion will be discussed.

Monday June 25

Target Corporation (NYSE: TGT) to hold mid-June sales call at 4:30pm.

Tuesday June 26

PDUFA date for Sanofi-Aventis SA's (NYSE: SNY) Acomplia for weight loss.
Nike Inc (NYSE: NKE) to report Q4 earnings; conference call at 5pm.
Oracle Corporation (NASDAQ: ORCL) to report Q4 earnings; conference call at 5pm.

Wednesday June 27

Covansys Corporation (NASDAQ: CVNS) to hold a special shareholder meeting at 9am in Detroit on the acquisition by Computer Sciences Corporation (NYSE: CSC).
Sierra Health Services Inc (NYSE: SIE) to hold special shareholder meeting at 4pm in Las Vegas on proposed acquisition by UnitedHealth Group Incorporated (NYSE: UNH).
Bed Bath & Beyond Inc (NASDAQ: BBBY) to report Q1 earnings; conference call at 5pm.

Thursday June 28

Palm Inc (NASDAQ: PALM) to report Q4 earnings; conference call at 4:30pm.
Research in Motion Limited (NASDAQ: RIMM) to report Q1 earnings; conference call at 5pm.

Friday June 29

Finish Line Inc (NASDAQ: FINL) to report Q1 earnings; conference call at 8:30am.

Market highlights for next week: Covansys holds special shareholder meeting originally appeared on BloggingStocks on Fri, 22 Jun 2007 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Market highlights for next week: Apple Worldwide Developers Conference

Eric Buscemi — Fri, 08 Jun 2007 16:00:00 EST

Filed under: Earnings Reports, Conventions and Conferences, Apple Inc (AAPL), Adobe Systems (ADBE), Goldman Sachs Group (GS), Texas Instruments (TXN), Lehman Br Holdings (LEH)

The highlight of the week, where all eyes will be focused (at least in the tech world), is the Apple Worldwide Developers Conference, which is all week long.

Monday June 11

Apple Inc (NASDAQ: AAPL) Worldwide Developers Conference to be held from June 11 through June 15.
Texas Instruments Incorporated (NYSE: TXN) mid-quarter update conference call to be held at 5pm.
Medivation Inc (NASDAQ: MDVN) to discuss Phase II study results for Dimebon for Alzheimer's.

Tuesday June 12

Lehman Brothers Holdings Inc (NYSE: LEH) to report Q2 earnings; conference call at 10am.

Wednesday June 13

FDA Endocrinologic and Metabolic Drugs Advisory Committee Meeting on Sanofi-Aventis's (NYSE: SNY) Acomplia at 8am.

Thursday June 14

The Goldman Sachs Group Inc (NYSE: GS) to report Q2 earnings; conference call at 11am.
Adobe Systems Incorporated (NASDAQ: ADBE) to report Q2 earnings.
Telkonet Inc (AMEX: TKO) to hold conference call at 11am to provide business update.

Friday June 15

PDUFA date for Encysive Pharmaceuticals Inc's (NASDAQ: ENCY) Thelin for Pulmonary Arterial Hypertension (PAH).

Market highlights for next week: Apple Worldwide Developers Conference originally appeared on BloggingStocks on Fri, 08 Jun 2007 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Newspaper wrap-up 3-29-07: Sony has record European launch for PS3

Eric Buscemi — Thu, 29 Mar 2007 09:00:00 EST

Filed under: Newspapers, Magazines, International Business Machines (IBM), IAC/InterActiveCorp (IACI), Sony Corp ADR (SNE), Tribune Co. (TRB), Merck and Co (MRK), Deere and Co (DE), Barclays plc ADS (BCS)

MAJOR PAPERS:

The Wall Street Journal's (subscription required) "Heard on the Street" column suggested that Deere and Company (NYSE: DE), which has risen 40% since lsat September, may be about to level off as analysts believe the positive outlook is already baked in to the stock price.
The Wall Street Journal reported that Sanofi-Aventis ADS's (NYSE: SNY) Acomplia, a "miracle weight loss pill", is looking less like a miracle among repeated FDA delays and European restrictions.
Barclays plc ADS (NYSE: BCS) says it would walk away rather than overpay for ABN Amro Holdings (NYSE: ABN), and rejected suggestions that it might then be vulnerable to a takeover itself, according to the Financial Times (subscription required).
The Financial Times reported that Sony Corporation's (NYSE: SNE) PlayStation 3 video game console has had a record-breaking launch in Europe, selling about 600,000 consoles in its first two days.
The Financial Times reported that U.S. drugmaker Merck & Company Inc (NYSE: MRK) won a restatement of its patent for once-weekly Fosamax treatment from the European Patent Office.
The Financial Times interviewed Barry Diller, the CEO of InterActiveCorp (NASDAQ: IACI), who believes corporate governance may be pushing U.S. companies to go private.

OTHER PAPERS:

The New York Times reported that billionaires Eli Broad and Ronald Burkle may be back in the running to buy The Tribune Company (NYSE: TRB), which has responded to a request for additional financial information about the company from the pair.
The Economic Times reported that Indian telecom operator Hutchison Essar is looking at outsourcing its IT operations to International Business Machines Corporation (NYSE: IBM), in a deal that would be worth $1.4B to $1.6B, according to sources.

Newspaper wrap-up 3-29-07: Sony has record European launch for PS3 originally appeared on BloggingStocks on Thu, 29 Mar 2007 09:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments