Healthcare Business Recap: CVS’s Oxycodone Registration CANCELLED, Amgen’s OUTLOOK
The DEA has cancelled the controlled substance registrations for two CVS Caremark Corporation (NYSE:CVS) pharmacies in Florida, following some retail locations experiencing sharply higher sales of the prescription painkiller oxycodone. The agency says that CVS and its wholesale suppler Cardinal Health Inc. (NYSE:CAH) should have understood that the sales jump indicated that the drugs were being resold on the black market.
Johnson & Johnson (NYSE:JNJ) and Pfizers’ (NYSE:PFE) bapineuzumab drug indicated that it is able to decrease nerve-cell damage in the brain and the buildup of amyloid plaque, which has been connected to Alzheimer’s disease. Though bapineuzumab could not improve patients’ memory or thinking, the medication might eventually find use as a preventative measure.
Chief Financial Officer Jon Pescock of Amgen Inc. (NASDAQ:AMGN) CFO Jon Peacock had some comments at the Morgan Stanley Healthcare Conference, including that the pipeline should become more visible, and reiteration of the firm’s fiscal year 2012 earnings and revenue growth forecasts. Peacock went on to say that the biggest growth opportunities lie overseas, so the company will be exploring ways to accelerate its international business; and that Amgen plans “meaningful” boosts to its dividend over time, along with more moderated repurchases through 2015.
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