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☆ Jim Cramer says patience in Wynn Resorts will be rewarded after surprise post-earnings drop
▼ + stars: | 2024-05-08 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Considering we sold stock twice last month at higher prices, we're interested in buying some of it back. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, drugmaker Merck, Jim, I'm, we're, Disney, Jim Cramer's Organizations: CNBC, Dow Jones Industrial, Dow, Wynn Resorts, Walt Disney, Disney, DIS Locations: U.S, China's Macao

☆ Millions of Girls in Africa Will Miss HPV Shots After Merck Production Problem
▼ + stars: | 2024-04-18 | by ( Stephanie Nolen | ) www.nytimes.com time to read: +1 min

Nearly 1.5 million teenage girls in some of the world’s poorest countries will miss the chance to be protected from cervical cancer because the drugmaker Merck has said it will not be able to deliver millions of promised doses of the HPV vaccine this year. Merck has notified Gavi, the international organization that helps low- and middle-income countries deliver lifesaving immunizations, and UNICEF, which procures the vaccines, that it will deliver only 18.8 million of the 29.6 million doses it was contracted to deliver in 2024, Gavi said. That means that more than 10 million girls will not receive their expected HPV shots this year — and 1.5 million of them most likely will never get them because they will be too old to qualify for the vaccine in subsequent years. Patrick Ryan, a spokesman for Merck, said the company “experienced a manufacturing disruption” that required it to hold and reinspect many doses by hand. He declined to give further details about the cause of the delay.

Persons: Merck, Gavi, Patrick Ryan Organizations: Merck, UNICEF

☆ Sam Altman inspired a mass defection at OpenAI — something Steve Jobs never did at Apple
▼ + stars: | 2023-11-21 | by ( Tim Paradis | ) www.businessinsider.com time to read: +4 min

Sam Altman's ouster has been so unpopular that most OpenAI workers have threatened to quit. The chaotic ouster of Sam Altman from OpenAI offers lessons around corporate stewardship and about seizing opportunity . It's a remarkable and uncommon show of support for a top dog at a company, leadership experts told Business Insider. Young, leadership expert and author of "Kissinger's Betrayal: How America Lost the Vietnam War" told BI. "Emotions and personalities play a much greater role in the small company," he said.

Persons: Sam Altman's, —, didn't, Sam Altman, It's, Satya Nadella, Altman, Jamie Dimon, Warren, Jeff Bezos, Jerry McGuire, Jeffrey Sonnenfeld, Sonnenfeld, who's, Steve Jobs, it's, Ken Frazier, Merck, Indra Nooyi, Marc Benioff, Benioff, Stephen B . Young, Young Organizations: Service, OpenAI, JPMorgan, Yale School of Management, Yale's, Leadership, Apple, PepsiCo Locations: Salesforce, Vietnam

The announcement sent shares of Daiichi Sankyo (4568.T) up 12% in early trading in Tokyo on Friday, raising expectations for its cancer drug pipeline. The companies will jointly and potentially commercialise the drug candidates worldwide, except in Japan where Daiichi Sankyo will maintain exclusive rights, they said. Merck will pay Daiichi Sankyo $4 billion upfront in addition to $1.5 billion in continuation payments over the next two years. Merck may make additional payments of up to $16.5 billion contingent on future sales milestones, or $5.5 billion for each product. Daiichi Sankyo has six ADC candidates in its pipeline, including two being jointly developed with AstraZeneca (AZN.L).

Persons: Andrew Kelly, Drugmaker Merck, patritumab, ifinatamab, raludotatug, Merck, David Dolan, Kanjyik Ghosh, Miyoung Kim, Jamie Freed Organizations: Merck & Co, REUTERS, Merck, AstraZeneca, Thomson Locations: Kenilworth , New Jersey, U.S, TOKYO, Daiichi, Tokyo, Japan, Bengaluru

☆ Drug shortages’ effects on cancer research may be felt for years to come
▼ + stars: | 2023-07-20 | by ( Jen Christensen | ) edition.cnn.com time to read: +8 min

But these shortages aren’t just bad for current patients, experts say; their effects on cancer research may be felt for years to come. The National Cancer Institute, the federal government’s main agency for cancer research and training, told CNN that at least 174 of its own trials may be affected by the shortages. Cisplatin and other platinum-based drugs are prescribed for 10% to 20% of all cancer patients, according to the National Cancer Institute. Crucial work on hold“With drug shortages, trials have become almost like an impossible task. “These drug shortages come and go, and there’s no real rhyme or reason, and there seems to be no rhyme or reason in terms of which institutions have shortages.

Persons: Joe Biden, it’s, ’ ”, Shadia Jalal, Indiana University Melvin, Jalal, She’s, they’ve, ” Jalal, “, ”, haven’t, “ We’ve, Mark Fleury, Fleury, you’re, ” Fleury, Dmitry Walker, Merck, We’ve, ” Walker, there’s, Biden, Lawrence Feldman, ” Feldman, Feldman, Dr, Sanjay Gupta, ‘ Organizations: CNN, National Cancer Institute, American Society of Health, Cancer, Indiana University, Bren Simon Comprehensive Cancer Center, Hematology, Oncology, IU School of Medicine, Hoosier Cancer Research Network, Veterans Administration, American Cancer Society Cancer Action Network, American Cancer Society, WVU Medicine, US Food, Pharmacists, National Comprehensive Cancer Network, University of Illinois Medical Center, CNN Health Locations: United States, China, Chicago

☆ Drugmakers aim to strike down Medicare drug-price negotiations at Supreme Court
▼ + stars: | 2023-06-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

And Bristol Myers Squibb is trying protect its blood thinner Eliquis, which brought in $11.8 billion in sales last year, or about 25% of the company's $46 billion total revenue for 2022. Long legal battle aheadMerck, the chamber and Bristol Myers Squibb filed their lawsuits ahead of two key deadlines. Bristol Myers Squibb did not either. If circuit court decisions on the matter contradict one another, the Supreme Court would step in to decide the issue, Bagby said. Bristol Myers Squibb made an identical argument in its complaint.

Persons: Richard A, Gonzalez, Pascal Soriot, Giovanni Caforio, Jennifer Taubert, Johnson, Kenneth C, Frazier, Albert Bourla, Olivier Brandicourt, Win Mcnamee, Drugmaker Merck, Drugmaker, Bristol Myers Squibb, PhRMA, Eli Lilly, Merck, Bristol Myers, Robin Feldman, Nicholas Bagley, Bagley, Gretchen Whitmer, Chris Meekins, Raymond James, Antonin Scalia, Brett Kavanaugh, Neil Gorsuch, Meekins, Long, Xavier Becerra, Randolph Daniel Moss, Barack Obama, Judge Thomas M, Rose, George W, Bush, Kelly Bagby, Bagby, Amgen, Donald Trump, Karine Jean, Pierre, Biden, Jean, we'll, Becerra, Feldman Organizations: Senate, AbbVie Inc, AstraZeneca, Myers Squibb Co, Janssen Pharmaceuticals, Johnson, Merck & Co, Inc, Pfizer, Sanofi, Getty, U.S . Chamber of Commerce, Bristol Myers Squibb, Washington , D.C, Southern, Southern District of, Democratic Party, U.S, Merck, Bristol, Pharmaceutical Research, Manufacturers of America, CNBC, Medicare, University of California College of, Justice Department, Michigan Gov, Bristol Myers, Human Services, Centers, Services, AARP Foundation, HHS, AARP, Specialty Pharmacy, Reuters, Supreme, Appeals, Democratic, U.S . Sixth, Republican, Third, White Locations: America, Washington , DC, Bristol, U.S, Washington ,, Southern District, Southern District of Ohio, New Jersey, Commerce's Dayton , Ohio, San Francisco

☆ Analysis: Biden's IRA climate bill won't cut deficit as expected
▼ + stars: | 2023-06-16 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +8 min

The White House estimated, and independent budget analysts agreed, it could cut the deficit by $300 billion over the next decade. The tax credits have been massively popular with companies, spurring new investments and boosting job growth, environmental benefits -- and the price tag. The bill will add $750 billion to the nation’s deficit over ten years, according to Smetters. White House officials say revenue will outpace original congressional estimates, and they point to the millions of jobs the IRA is expected to create. “We’re going to have more deployment and achieve more emissions reductions than we initially thought,” the White House official said.

Persons: Joe Biden, Biden, ”, Kent Smetters, Goldman Sachs, Joe Manchin, Manchin, we've, Joe Biden’s, Tesla, Smetters, ” Smetters, “ We’re, Merck, Jarrett Renshaw, Heather Timmons, Alistair Bell Organizations: White House, Penn Wharton Budget Model, White, Congressional, Credit Suisse, University of Pennsylvania’s Wharton Business School, U.S, Democrat, Credit, Office, University of Pennsylvania, European Union, EV, Biden, Republicans, CBO, Amazon, Pepsi, Home, Thomson Locations: U.S, Japan

☆ Eli Lilly CEO says Medicare price negotiations could harm drug development
▼ + stars: | 2023-06-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Eli Lilly CEO David Ricks on Tuesday said Medicare price negotiations, which aim to cut costs for older Americans, could potentially harm drug development. "I'm really worried about the harm this will do to new cures and possibilities in medicine," Ricks said in an interview on CNBC's "The Exchange." He's the latest pharmaceutical executive to publicly blast the provision and law at large, which will likely reduce company profits. Global drugmaker Merck last week sued the Biden administration over Medicare price negotiations in a bid to weaken the program. Under the IRA provision, Medicare can start negotiating prices on small-molecule drugs as early as nine years after they receive Food and Drug Administration approval, compared with 13 years for biologics.

Persons: Eli Lilly, David Ricks, I'm, Ricks Organizations: Biden, Global drugmaker Merck, Drug Administration

☆ Merck sues Biden administration over Medicare drug price negotiations
▼ + stars: | 2023-06-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Global drugmaker Merck on Tuesday sued the Biden administration over Medicare's new powers to substantially reduce drug prices for seniors under the Inflation Reduction Act, the opening salvo in the pharmaceutical industry's efforts to weaken the program. In a scathing complaint filed in federal court in Washington D.C., Merck excoriated the negotiation process as a "sham" and "tantamount to extortion." The Inflation Reduction Act, which became law last summer, was a major victory for President Joe Biden and Democrats in Congress, who have long pushed to empower Medicare to combat rising drug prices. The pharmaceutical industry has fiercely opposed the law, arguing it will stifle new drug development. Merck has asked a judge to block HHS from compelling the drugmaker to participate in the program.

Persons: Merck, Joe Biden Organizations: Global, Merck, Biden, Washington D.C, Department of Health, Services, Government Locations: Washington

☆ Merck earnings better-than-expected on Keytruda, Gardasil strength
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

April 27 (Reuters) - Drugmaker Merck & Co on Thursday posted better-than-expected first-quarter results on the strength of its blockbuster cancer immunotherapy Keytruda and human papillomavirus (HPV) vaccine Gardasil. Sales of Keytruda rose 20% to $5.8 billion in the quarter, topping the average analyst forecast of $5.6 billion. Gardasil sales rose 35% to $2 billion, beating analyst estimates of $1.7 billion. It forecast 2023 sales of $57.7 billion to $58.9 billion, up from its previous forecast of $57.2 billion to $58.7 billion. The company reported nearly $21 billion in Keytruda sales last year.

☆ Here are the biggest Dow winners and losers since Fed rate hikes began — And where they go from here
▼ + stars: | 2023-03-07 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Goldman Sachs , JPMorgan , Visa and American Express have all registered gains since the Fed started hiking rates. Industrial giants Boeing , Caterpillar and Honeywell also emerged as some of the biggest winners during the tightening period. Intel has been the biggest laggard during the tightening period with a 42% loss. However, Wall Street analysts expect the tech sector to lead the market comeback as the Fed slows down its rate-hiking campaign. Disney has fallen 25% since the Fed began tightening, but Wall Street analysts believe the theme park giant could rebound 25% in the next 12 months.

☆ Nasdaq futures jump more than 1% on Meta surge, Fed relief
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies Futures: Nasdaq up 1.44%, S&P up 0.50%, Dow down 0.13%,Feb 2 (Reuters) - Nasdaq futures jumped on Thursday as Meta Platforms surged after announcing rigorous cost controls, while a dovish message from Federal Reserve Chair Jerome Powell boosted bets of a softer landing for the U.S. economy. Shares of other growth companies including Apple Inc (AAPL.O), Alphabet Inc (GOOGL.O) and Amazon.com Inc (AMZN.O) rose between 1.1% and 4.3%. The three companies are slated to report quarterly results after market close. ET, Dow e-minis were down 45 points, or 0.13%, S&P 500 e-minis were up 20.75 points, or 0.5%, and Nasdaq 100 e-minis were up 179 points, or 1.44%. A 0.2% decline in shares of drugmaker Merck & Co (MRK.N) ahead of its quarterly report weighed on Dow futures.

☆ French drug agency says under investigation over thyroid drug
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of German pharmaceuticals company Merck is seen in front of the company's headquarters in Darmstadt, Germany, May 16, 2016. REUTERS/Kai Pfaffenbach/File PhotoCompanies Merck KGaA FollowPARIS, Dec 6 (Reuters) - France's ANSM national drug agency said it is under formal investigation on suspicion of issuing misleading information regarding German drugmaker Merck's (MRCG.DE) thyroid drug Levothyrox, adding it contested the provisional charges. The French Association of Thyroid Patients on Tuesday welcomed the development, but expressed disappointment that the provisional charges had not been more far-reaching. A court in the French city of Marseille had in October already placed Merck under formal investigation, meaning it is treated as a formal suspect but the case may yet be dropped. Merck said in October the investigation against it did not concern in any way the new formula for Levothyrox, but the way it provided information when changing from the old one.

☆ Merck could keep its patent edge by shifting Keytruda cancer drug to a simple shot
▼ + stars: | 2022-12-02 | by ( Michael Erman | ) www.reuters.com time to read: +7 min

If successful, Merck could begin marketing the new formulation within a few years, a top Merck executive told Reuters. "The clock for that patent would start ticking from the time we would get that patent approved." Drug patents have a guaranteed term of exclusivity for 20 years after receiving a patent under U.S. law, but sometimes the companies are able to add additional patents that extend their exclusivity. Merck's patents on the subcutaneous version of Keytruda could protect that formulation until at least 2040, according to Tahir Amin, co-founder of drug patents watchdog group Initiative for Medicines, Access & Knowledge (I-MAK). Northwell's Mulloy said moving patients to subcutaneous versions of drugs also opens up spots in infusion centers for additional patients.

☆ Uganda steps up Ebola response as virus infects 109, kills 30
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

[1/2] A woman and her child arrive for ebola related investigation at the health facility at the Bwera general hospital near the border with the Democratic Republic of Congo in Bwera, Uganda, June 14, 2019. Fifteen of the confirmed cases were among health workers, of whom six had died, she told a news conference. The virus circulating in Uganda is the Sudan strain of Ebola, for which there is no proven vaccine, unlike the more common Zaire strain seen during recent outbreaks in neighbouring Democratic Republic of Congo. "The main objective is to evaluate their efficacy to protect primary contacts of Ebola patients within 29 days of contact," Aceng said. Reporting by Elias Biryabarema; Writing by George Obulutsa; Editing by Estelle ShirbonOur Standards: The Thomson Reuters Trust Principles.

☆ Drugmaker Merck: placed under formal investigation in France over Levothyrox
▼ + stars: | 2022-10-19 | by ( Nancy Lapid | ) www.reuters.com time to read: 1 min

PARIS, Oct 19 (Reuters) - Drugmaker Merck (MRCG.DE) said on Wednesday that it had been placed under formal investigation by a French court for possibly issuing misleading information regarding its thyroid drug product Levothyrox. Mario-Pierre Stasi, the lawyer for Merck, said the company would continue to co-operate with authorities on this matter and that full legal proceedings must be allowed to run their course. Merck added that the French court ruling did not concern in any way the new formula for the Levothyrox product. (This story has been refiled to remove incorrect stock ticker code)Register now for FREE unlimited access to Reuters.com RegisterReporting by Sudip Kar-Gupta and Myriam Rivet;Editing by Dominique VidalonOur Standards: The Thomson Reuters Trust Principles.

☆ Merck agrees to allow Sinopharm to sell molnupiravir COVID drug in China
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, Sept 28 (Reuters) - Drugmaker Merck & Co (MRK.N) said on Wednesday that it agreed to allow China's Sinopharm (1099.HK) to distribute and import its COVID-19 antiviral molnupiravir in China if the drug is approved for use there. The drugmaker said in a statement that it reached a cooperation framework agreement with Sinopharm that grants the Chinese company distribution and exclusive import rights of the medicine in the China mainland market. Merck also said it will allow China National Biotec Group, an affiliate of Sinopharm, to make the drug in China and has agreed to transfer technology to help with that production. Molnupiravir is sold under the brand name Lagevrio in the U.S. Merck developed the pill - and shares the profits equally - with partner Ridgeback Biotherapeutics. Register now for FREE unlimited access to Reuters.com RegisterReporting by Michael Erman; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

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