Word: wyeth
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...headlines, not least because they immediately raised the possibility of power-hungry athletes someday using gene doping to improve performance - a technique that would be much harder to detect than using performance-enhancing drugs. And while myostatin-blocking drugs are not yet available, the pharmaceutical companies Amgen and Wyeth are currently experimenting with myostatin inhibitors, with encouraging early results, and it's clearly something that antidoping agencies around the world are concerned about. The World Anti-Doping Agency has banned gene doping, and included "agents modifying myostatin function(s)" on its list of prohibited substances...
...Pfizer (PFE) may be the best proxy for the fortunes of large U.S. pharmaceutical companies. It has a market cap of more than $88 billion and annual revenue of almost $50 billion, making it the largest drug company in the world. It is in the midst of buying rival Wyeth for $68 billion and is cutting staff and costs rapidly as some of its most profitable drugs lose their patent protections, a problem across the entire industry. Pfizer has a short interest of almost 174 million shares. and average daily trading volume of 54 million shares. Pfizer traded at over...
...according to Dealogic, which tracks financial activity. Globally, Citi has been a part of four of the six largest deals in 2009. Its biggest score came in January when it was picked by Pfizer to be one of the drugmaker's advisors on its $68 billion acquisition of rival Wyeth. "We are very proud of the success we have had this year," gushes Mark Shafir, who is the head of the M&A division at Citi...
...creative sparks that drive new discoveries. Or, they may not. The real but hidden definition of the word "synergy" is firing lots of people. The recently closed marriage between Dow Chemical (DOW) and Rohm and Haas (ROH) was about firing people. Pfizer (PFE) bought drug company Wyeth (WYE) for the same reason. Being in the pharmaceuticals business is not what it used to be. Blockbuster drugs face competition. Keeping hundreds of research scientists around is expensive. (See pictures of the global financial crisis...
...were five small and human businesses in that block, and the behemoth is going to devour them all.” Since 2003, the university has approved several construction projects in its Northwest campus, including plans for a large academic complex. For instance, the Everett Street Garage and the Wyeth Hall dorms were bulldozed in summer 2007 to accommodate a new academic complex on Mass. Ave. Associate Vice President for Harvard Real Estate Services James Gray stated that plans for Law School building developments in the North Yard would not affect local businesses, but he was reluctant to discuss Three...