Continue reading Teva Pharmaceuticals MS Drug Study a Success

Teva Pharmaceuticals MS Drug Study a Success originally appeared on BloggingStocks on Thu, 09 Dec 2010 13:30:00 EST. Please see our terms for use of feeds.

Continue reading Biogen Multiple Sclerosis Drug Loses Out in Study

Biogen Multiple Sclerosis Drug Loses Out in Study originally appeared on BloggingStocks on Fri, 11 Jun 2010 13:30:00 EST. Please see our terms for use of feeds.

Continue reading Novartis MS Drug Gets Initial Okay from FDA Committee

Novartis MS Drug Gets Initial Okay from FDA Committee originally appeared on BloggingStocks on Fri, 11 Jun 2010 09:30:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Losing the DJIA 10K (AMZN, BIIB, BRCM, COF, DOLE, MSFT, SPWRA)

Closing Bell: Losing the DJIA 10K (AMZN, BIIB, BRCM, COF, DOLE, MSFT, SPWRA) originally appeared on BloggingStocks on Fri, 23 Oct 2009 16:00:00 EST. Please see our terms for use of feeds.

Pharmaceutical company Eli Lilly & Co. (NYSE: LLY) is planning to cut 5,500 jobs over the next few years and reorganize into five business units. The company is looking to reduce costs and accelerate how long it takes new drugs to get to market, especially as its top performers see their patents expire. This translates to a workforce reduction of close to 14% - to 35,000. This measure doesn't include new positions in emerging markets with high potential and Japan.

The company hopes to cut as much as possible through attrition and retirements - and it would not indicate how many other positions would have to be cut.

Eli Lilly's goal is to slash its annual cost by $1 billion during this restructuring. The new business units will be: cancer, diabetes, established markets, emerging markets and Elanco, which is its animal health business. This is a change from the existing functional model, which separates U.S. and global marketing for each drug in the company's portfolio. Through the new structure, Lilly says, drug development and marketing will be tied more closely.

Continue reading Eli Lilly to restructure, bet on drug portfolio

Eli Lilly to restructure, bet on drug portfolio originally appeared on BloggingStocks on Tue, 15 Sep 2009 10:40:00 EST. Please see our terms for use of feeds.

Earlier this week I met with three CEOs of the neurotech industry -- Ron Cohen of Acorda Therapeutics (NASDAQ: ACOR), Uli Hacksell of Acadia Pharmaceuticals (NASDAQ: ACAD) and Jörn Aldag, of Evotec (NASDAQ: EVTC) -- along with Zack Lynch, the director of their trade association. Their November 10 media tour gave me a chance to gain some insight into this niche within the biotech industry of companies seeking cures for brain illnesses through drugs and devices.

At a time when revenues from blockbuster drugs are tapering off as their patents expire, these companies -- and their two-year-old Neurotechnology Industry Organization -- are hoping to unlock a new area of business growth while offering cures to ailments of longer-living populations and diseases involving the central nervous system.

Hawthorne, New York-based Acorda is already selling its first product, Zanaflex Capsules, which help control spasticity. Its Fampridine medication, aimed at bettering the walking capability of people with multiple sclerosis, is still undergoing Phase 3 testing. Update: November 14: Ron Cohen let me know Acorda has successfully completed Phase 3 testing of Fampridine
and intends to apply early next year for Food and Drug Administration approval to market it.

Meanwhile, San Diego-based Acadia, led by Hacksell, is conducting Phase 3 clinical trials of pimavanserin, which addresses psychosis related to Parkinson's disease.

Evotec, a Hamburg, Germany, company, whose acquisition of San Francisco-based Renovis in May could better position it to attract U.S. venture capital, is working on remedies for insomnia, Alzheimer's disease and smoking cessation.

Continue reading Can neurotech deliver on its growth promise? (ACOR, ACAD, EVTC)

Can neurotech deliver on its growth promise? (ACOR, ACAD, EVTC) originally appeared on BloggingStocks on Wed, 12 Nov 2008 13:35:00 EST. Please see our terms for use of feeds.

Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.

Elan Pharmaceuticals (NYSE: ELN) is the top speculative stock for 2007 from Ken Kam. The editor of Marketocracy's Marketscope, explains, "Last year, I also chose Elan as my top pick because I thought their multiple sclerosis drug, Tysabri, would be approved for sale again.

"It was, but it didn't happen until July. Further, the FDA then required additional testing. This slowed down the sales that I had expected and led to disappointing sales in the third quarter. However, I think this delay was a speed bump, not a brick wall. Thus, the growth I thought would occur in 2006 I now think we'll see in 2007.

"Over the next 12 months, I think Elan's price will move up as Tysabri sales accelerate in the U.S. and Europe. In addition, Elan just filed today for approval to use Tysabri to treat patients with Crohn's disease -- a patient population that may ultimately double Tysabri's sales potential.

Continue reading Top Picks 2007: Ken Kam revisits Elan and Tysabri

Top Picks 2007: Ken Kam revisits Elan and Tysabri originally appeared on BloggingStocks on Thu, 21 Dec 2006 14:30:00 EST. Please see our terms for use of feeds.