OTC IBUPROFEN MARKETERS AHP AND B-M LEAD INDEX AS MARKET CONTINUES SLIDE
OTC IBUPROFEN MARKETERS AHP AND B-M LEAD INDEX AS MARKET CONTINUES SLIDE The stock market reacted to the good news of the ibuprofen OTC switch and the bad news everywhere else as only American Home Products (up 1 to 52) among the 52 Index stocks advanced more than fractionally. Just behind, among advancing stocks, was OTC ibuprofen competitor Bristol-Myers (up 3/4 to 44-1/2). Only seven other pharmaceutical/health care stocks on the Index made fractional gains, with two just breaking even. Hardest hit among Diversified stocks were Novo (off 5 to 43-1/4) an Forest (down 3 to 15). Pharmaceutical stocks declining the furthest were Syntex (down 3-3/4 to 39-1/4), Lilly (down 3-1/8 to 58), Upjohn (down 2-7/8 to 65), and two point losers Rorer (off to 28-3/8) and Abbott (to 40-1/8). Overall, 27 of 52 Index issues declined by a point or more. Chart omitted.
You may also be interested in...
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth