This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Drugmakers Follow Merck, Schering-Plough Lower

Pharmaceutical companies were down across the board on Friday following bleak news coming out of the sector.

Merck (MRK - Get Report) warned of an earnings shortfall for the second quarter and full year, and its shares lost 7.4% to $69 in recent New York Stock Exchange trading. Also this morning, Schering-Plough (SGP) was down 6.5% to $37.93 after the company said the Food and Drug Administration has found that it still isn't in compliance with good manufacturing practices. The regulators first found problems with the company's operations in February.

Additionally, Wyeth-Ayerst Laboratories, the pharmaceuticals unit of American Home Products (AHP - Get Report), said it has received a not-approvable letter from the FDA for a treatment for acute long-bone fractures. The agency's letter focused on the design of the clinical study and the interpretation of the clinical data. Shares of AHP were off 2.2% to $60.83 in afternoon market activity.

Others in the sector were also moving downward. GlaxoSmithKline (GSK) was off 0.6% to $56.55, and Pfizer (PFE - Get Report) lost 4.2% to $43. AstraZeneca (AZN) dropped 1.4% to $49.20, and Bristol-Myers Squibb (BMY) fell 1.6% to $54.45.

Novartis (NVS) was off 4.7% to $34.98. Aventis (AVE) slipped 0.4% to $78.32, while Pharmacia (PHA) slid 5% to $48.93. Johnson & Johnson (JNJ) lost 2.5% to $51.72.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AHP $14.19 -0.70%
MRK $53.55 -0.76%
PFE $32.60 -0.59%
AAPL $118.58 0.65%
FB $103.96 -1.40%


Chart of I:DJI
DOW 17,756.67 -41.82 -0.23%
S&P 500 2,085.23 -4.88 -0.23%
NASDAQ 5,106.26 -21.2650 -0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs