Pfizer beat analyst expectations for earnings. That's not as positive as it sounds, and it's certainly not the whole story.
Merck surprised Wall Street analysts today when it announced that its net profit in the second quarter jumped to $2 billion from $906 million in the same period a year ago, and that it was raising the lower end of its income forecast for 2014. But it's not exactly time to pop out the champagne corks and declare a successful turnaround.
In one of the largest venture capital financing of the year, Proteus Digital Health announced it raised $172 million in a Series G funding round from undisclosed institutional investors after completing a second closing.
Reckitt Benckiser has been dropping plenty of hints that it would eventually spin off its pharmaceuticals unit. The time is here: The company says it will break off its pharma unit via with a separate U.K. listing, becoming the latest drugmaker to join pharma's slim-down craze.
It is fascinating what has happened in the last couple of years in the animal health industry, which runs to $22 billion a year for animal drugs and vaccines and is expected to grow at 5.7% compound...
GlaxoSmithKline pulled off a $20 billion asset swap with Novartis in April, hiving off its oncology business and building up in consumer health and vaccines in one fell swoop. But that restructuring might not be enough, CEO Andrew Witty tells the Financial Times. A future spin-off may be in order.
Eco Animal Health Group said its profit has grown 8% to $24 million in the year ending March 31, and it owes much of that growth to its star product, Aivlosin, an antibiotic for poultry and swine targeting respiratory and enteric diseases.
Medical products company Abaxis reported its end-of-quarter earnings, boasting 10% more revenue than the same period last year--growth which the company has attributed to its animal health unit.
The Medtronic merger with Covidien could offer a particular threat to C.R. Bard's vascular business--its largest segment and one of its fastest growing. The company was clear that it's actively in the market for its own strategic acquisitions; it hasn't disclosed a sizeable deal in almost a year.
Covidien is celebrating third quarter earnings buoyed by strong sales, with its surgical solutions unit and progress in emerging markets generating an sizeable increase in cash flow.