German Merck profit soars on Serono deal
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Merck KGaA, the German drug and chemical company whose products include the multiple sclerosis drug Rebif and cancer treatment Erbitux, said Monday that its fourth-quarter profit soared to nearly $5 billion as it reaped the benefits of its acquisition of Serono and the divestiture of its generic drug unit.
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Swatch Group AG said Tuesday that its first-half net profit rose 17 percent as a result of strong demand for the company's luxury products.
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Medco Health Solutions Inc  on Tuesday posted higher-than-expected quarterly earnings, helped by sales of generic drugs, and the pharmacy benefit manager boosted its full-year profit forecast.
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PARIS Sanofi-SynthÃ©labo, which this month completed its $63 billion purchase of a rival drug manufacturer, Aventis, reported Tuesday a 21 percent jump in first-half profit on higher demand for the blood thinner Plavix and the cancer treatment Eloxatin.
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Novartis AG, Switzerland s biggest drugmaker, said third-quarter profit rose 21 percent as demand increased for the hypertension treatment Diovan and the cancer pill Gleevec.
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U.S. stock indexes rose on Monday as takeover news and strong profits from blue-chip companies, including Merck & Co. , reassured investors after Friday's sell-off.
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The drugmaker posted third-quarter net income of $1.53 billion as revenues increased by double digits, while lower  costs offset more spending on research and development.
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Merck & Co  on Monday said its third-quarter profit rose sharply, helped by sales of its vaccines and cholesterol drugs, and raised its 2007 profit forecast in view of strong current trends.
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Deals worth nearly 15bn euros have boosted share prices as Europe's pharmaceuticals sector consolidates further.
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Lehman Brothers Holdings Inc.  on Tuesday said quarterly profit rose 27 percent, beating expectations, on surging revenue from bond underwriting and stock trading.
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Impressive earnings drive the medical device maker to a 52-week high.
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German drugs and chemicals group Merck&#39;s third-quarter operating profit rose by a forecast-beating 42 percent, helped by strong sales of cancer drug Erbitux and liquid crystals for flat screen televisions.
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YESTERDAY Close $54.64 Change +$1.53 52-WEEK High $55.14 Low $42.29 Merck &amp; Co., the third-largest US drug maker, reported a 63 percent increase in earnings and raised its forecast for the year after a vaccine for cervical cancer and a new pill for diabetes drove sales higher.
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German drugmaker Merck KGaA   unveiled a surprise 16.6-billion-Swiss franc ($13.3  billion) deal to buy Swiss biotech firm Serono on Thursday,  creating a new force in European pharmaceuticals.
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Merck and Co  on Wednesday  reported a fourth-quarter loss due to charges related to a  costly settlement related to its withdrawn Vioxx arthritis  drug, but results soundly beat Wall Street expectations.
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Humana Inc  posted a sharply higher quarterly profit on Monday, above Wall Street's target, on continued strength in its Medicare health plans for the elderly and its plans for employers.
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NEW YORK -- Swiss biotech firm Serono SA, which earlier Thursday agreed to sell a majority stake in the company to German drugmaker Merck KGaA for $13.31 billion, said its oral cladribine treatment for multiple sclerosis has received "fast-track" status from the U.S. Food and Drug Administration.