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Pfizer reports solid quarterly earnings thanks to cost-cutting maneuvers

On Tuesday, Pfizer (NYSE: PFE) stepped into the earnings spotlight, announcing a higher third-quarter profit compared to last year. The pharmaceutical firm earned 43 cents per share, or 51 cents per share in adjusted earnings. A year ago, PFE earned 34 cents per share before item exclusions. The Street expected PFE to report third-quarter earnings of 48 cents per share excluding items.

Quarterly revenue checked in at $11.62 billion, 3% lower than last year's third-quarter revenue. Revenue was pulled roughly 5% lower due to unfavorable foreign exchange rates.

Continue reading Pfizer reports solid quarterly earnings thanks to cost-cutting maneuvers

U.S. trio wins Nobel Prize for Medicine; Merck to develop vaccine

First, who are the Nobel Prize winners? Why is their research so important in the areas of aging and cancer detection?

Three Americans won the Nobel Prize for medicine. They are Elizabeth Balckburn, Jack Szostak and Carol Greider. Balckburn is with the University of California, San Francisco, Greider is with Johns Hopkins School of Medicine in Baltimore and Szostak is at the Harvard Medical School.


Continue reading U.S. trio wins Nobel Prize for Medicine; Merck to develop vaccine

Iran's great potential and its challenges!

Iran's flawed democracy is still better than most of the political systems among other countries in the region. For the past few decades the morality police, prodded by religious literalism, have mandated women to cover themselves when they are out in public. This same religious literalism has impeded the potential of a country that has a large population, in a key geographic region, with oil and other natural resources.

Iran is in the midst of a presidential election that has stimulated much heated debate among the population about the failures of the current government in economic and political terms, and that has created a feeling of isolation. The isolation is more than a feeling, and it has limited the growth of the nation to something far less than its capabilities.

Continue reading Iran's great potential and its challenges!

Merck profit drops, company cuts revenue

This morning, Merck (NYSE: MRK) unveiled first-quarter earnings, which dropped 57% thanks to a drop in both drug sales and income from its cholesterol medicine partnerships. Excluding charges, Merck brought in 74 cents per share in quarterly earnings. The results were a full three cents short of the consensus estimate.

Turning to revenue, Merck reported $5.39 billion - an 8% drop from a year ago. The consensus estimate for quarterly revenue was $5.77 billion, so the results were far short of the bar set by the Street.

Continue reading Merck profit drops, company cuts revenue

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Last updated: November 26, 2009: 10:00 AM

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