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BUSINESS
By Andrew Leckey | November 13, 1991
A healthy dose of drug stocks has turned out to be the proper investment prescription during this lingering recession.Earnings gains of pharmaceutical companies seem to roll on no matter what the economic outlook, as health-conscious Americans continue to buy medicine in large quantities. Many investment advisers who shifted clients into cyclical stocks earlier this year in anticipation of a quick end to the economic downturn would've been better off to simply stick with tried-and-true drug stocks.
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BUSINESS
By Andrew Leckey | June 26, 2005
File two lawsuits and call me in the morning. That has been the prescription for dealing with drug side effects lately. As a result, the pharmaceutical industry is in a fever over class action lawsuits, large settlements and Food and Drug Administration actions. But, experts said, that doesn't necessarily make them bad investments. Eli Lilly & Co. recently established a $690 million fund for plaintiffs who agree to settle claims that they developed diabetes-related conditions from its antipsychotic drug Zyprexa.
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BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | June 12, 1991
Pharmaceutical firms have been at the heart of defensive stock investing during this recession. The drug-company group has risen better than 20 percent in value in 1991, providing predictable earnings and low risk as well. The more volatile bio-pharmaceutical stocks doubled even that handsome return.Demand for pharmaceuticals and medical treatment, after all, has more to do with one's physical condition and the Food & Drug Administration approval process than with the general effects of the economy.
BUSINESS
By JAY HANCOCK | July 7, 2004
MAYBE no Democratic presidential candidate went after big drug companies harder than John Edwards, the North Carolina senator who was named yesterday as John Kerry's vice presidential running mate. Edwards said he would order the Justice Department to investigate "price gouging" by big pharmaceutical outfits. He would permit drug "reimportation," which would undercut manufacturers' profits by allowing U.S. patients to benefit from foreign price controls. He would sharply restrict pharmaceutical advertising.
BUSINESS
By Bloomberg Business News | April 30, 1995
NEW YORK -- A year ago, the prescription on drug stocks was clear: Avoid them. That was splendid advice -- for investors who did just the opposite.An investment of $1,000 in Pfizer Inc., which will split its shares in June, a year ago is worth $1,680 today. That's a 68 percent return in 12 months, not counting dividends.Eli Lilly & Co. shares have climbed 64 percent in the same period. Marion Merrell Dow Inc. shares are up 62 percent, while those of Merck & Co. have risen 57 percent. The overall Standard & Poor's Corp.
BUSINESS
By Bloomberg Business News | February 3, 1993
NEW YORK -- U.S. stocks closed mixed yesterday as slumping drug stocks offset more positive news about the economic recovery.The Dow Jones industrial average fell for only the second time in the past nine sessions, declining 3.51, to 3328.67. The index rebounded about 10 points in the final hour of trading from a session low of 3318.67.The broader stock market averages received a boost from a government report that the index of leading economic indicators advanced 1.9 percent in December, the biggest gain since April 1983.
BUSINESS
By Bloomberg Business News | November 12, 1992
NEW YORK -- Stocks, led by drug company issues, increased yesterday as investors concluded that the Clinton administration would not bring immediate health care reforms that would curb drug prices.The notion that President-elect Bill Clinton will not immediately be able to adopt a health care policy breathed life into the battered drug group. The rise in stocks also reflects the perception that companies with steady earnings growth will perform best in a sluggish economy.The Dow Jones industrial average, led by Merck and Procter & Gamble, gained 14.86, to 3,240.
BUSINESS
By JULIUS WESTHEIMER | August 22, 2001
"SORRY TO TELL you, but that much-anticipated high-tech rebound that was supposed to recapture much of 17 months' losses isn't coming," David Dreman, author, Contrarian Investment Strategies, says in Forbes, Sept. 3. "So if not in tech, where should you invest today? Try the battered drug stocks. Wall Street, fixated on patent expirations, is undervaluing good pharmaceutical stocks. In the early 1990s, Wall Street summoned the priest to give last rites to Pfizer Inc., which was suffering loss of major patents.
BUSINESS
By Bloomberg Business News | May 3, 1994
NEW YORK -- U.S. stocks advanced yesterday for a second day as drug stocks rallied, sparked by a Swiss company's bid to take over Syntex Corp. for $5.3 billion.Roche Holding AG, based in Basel, Switzerland, agreed to pay $24 a share for Syntex, a maker of treatments for arthritis and skin diseases. Syntex, the most active stock in U.S. composite trading, climbed as much as $8.625, to $23.875, before closing at $23.50.The Dow Jones industrial average rose 19.33, to 3,701.02, after dropping as much as 16.06 points earlier.
BUSINESS
By Bloomberg Business News | August 18, 1993
U.S. stocks rose for a third straight session, fueled by gains in the drug industry and optimism about low interest rates.The Dow Jones industrial average closed 7.83 higher at a record 3,586.98, breaking the previous high of 3,583.35 set last Wednesday.Drug stocks led the advance. "These stocks have been in the doldrums for so long and they're finally starting to show signs of life," said Ronald Nordmann, an analyst at PaineWebber Inc.The rise in drug stocks was led by Glaxo Holdings PLC, which received approval from the Food and Drug Administration to market an injectable version of Zofran to help stop nausea after operations.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | November 6, 2002
EntreMed Inc. said yesterday that company founder and Chairman John Holaday had relinquished the title of chief executive officer, leaving the struggling company with neither a CEO nor a chief financial officer. The company also disclosed that it had been notified that Nasdaq was moving to delist its stock. The Rockville drug developer said it will appeal a determination by the Nasdaq staff that its common shares be removed from the Nasdaq National Market because its market capitalization - the value of its outstanding stock - has fallen to about $34 million, below the required $50 million minimum.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | February 12, 2002
Shares of United Therapeutics Corp. climbed nearly 18 percent yesterday after the company said the Food and Drug Administration had issued a letter describing the company's drug Remodulin as "approvable." The Silver Spring company's stock rose $1.66 to close at $11.10 on the Nasdaq stock market. More than 3.1 million shares traded hands, nearly 12 times the daily average volume of 265,967 shares over the last six months. The FDA stopped short of approving Remodulin, a treatment for pulmonary hypertension, which would be United Therapeutics' first drug on the market.
BUSINESS
By JULIUS WESTHEIMER | August 22, 2001
"SORRY TO TELL you, but that much-anticipated high-tech rebound that was supposed to recapture much of 17 months' losses isn't coming," David Dreman, author, Contrarian Investment Strategies, says in Forbes, Sept. 3. "So if not in tech, where should you invest today? Try the battered drug stocks. Wall Street, fixated on patent expirations, is undervaluing good pharmaceutical stocks. In the early 1990s, Wall Street summoned the priest to give last rites to Pfizer Inc., which was suffering loss of major patents.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | August 9, 2001
Shares of United Therapeutics Corp. fell nearly 29 percent yesterday on news that a U.S. Food and Drug Administration official said studies "do not support approval" of the company's drug for pulmonary hypertension. The comments were contained in a memo written by Dr. Raymond Lipicky, director of the FDA's cardio-renal drug products division, which will play a key role in the agency's decision about whether to allow the drug on the market. It was posted on the FDA Web site. Lipicky recommended in the March 9 memo to a superior in the Office of Drug Evaluation and Review that the FDA "issue a non-approval letter."
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | December 19, 2000
United Therapeutics Corp., a Silver Spring-based developer of biopharmaceuticals, said yesterday that it will issue 300,000 shares of stock to acquire the assets of a company that makes an over-the-counter "medical food" designed to relieve symptoms of heart disease. Wall Street greeted the deal by pushing United's shares down 94 cents, or nearly 6 percent, to $14.75. "Unfortunately, they're making a stock purchase of another asset at a time when their stock is near an all-time low," said Prudential Securities analyst Robert J. Toth Jr., who has a "hold" recommendation on the company's shares.
BUSINESS
By Julius Westheimer | December 10, 1999
HAVE YOU MISSED the boat in this bull market? Maybe not.Personal Finance says, "With most stocks soaring, you may think you've missed an opportunity to put money to work, but just because high-tech, financial and drug stocks are flying high, not every sector is overvalued."The newsletter adds: "Instead, consider buying homebuilding stocks; many are near their lows and show huge potential. Once interest rates trend lower, homebuilding stocks historically soar. We recommend Lennar Corp., D. R. Horton Inc. and Kaufman & Broad Corp."
BUSINESS
By Julius Westheimer | March 25, 1993
Continuing its recent "up in the morning, down after lunch pattern, the Dow Jones industrial average fell 16.48 points yesterday to close at 3,445.38.Merck, a Dow Jones stock that sank 2 1/4 more points, stands at 34 3/4 , down about 35 percent from its 12-month peak. Drug stocks have skidded sharply since President Clinton's election.HOPEFULLY HELPFUL: "At today's low interest rates, it makes sense to borrow more money against your home. You can borrow at low rates on a pre-tax basis and the interest you pay on the first $100,000 for non-home-related uses is tax deductible.
BUSINESS
By Bloomberg Business News | March 26, 1993
NEW YORK -- U.S. stocks, helped by rebounds in Merck & Co. and Johnson & Johnson & Co., rallied out of a three-day slump yesterday as investor concern about Russia's political turmoil and the battered drug industry dissipated."
BUSINESS
By Julius Westheimer | August 25, 1999
SHOULD YOU invest in large- or small- capitalization stocks?"Investors will do best buying large-cap stocks," says successful adviser Laszlo Birinyi. "My favorite areas are financial services, manufacturing, retail, technology and utilities."Birinyi's choices include America Online Inc., BellSouth Corp., Deere & Co., the Gap Inc., General Dynamics Corp., Goodyear Tire & Rubber Co., Texas Utilities Co. and United Technologies Corp.TAX SAVER: "You can pay for anyone's education without owing gift taxes if payments are made directly to the school and are used for tuition and books, not room and board.
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