Glaxo-Merck News, Amgen CEO, and Transocean Wins


Glaxo gets approved while Merck gets denied, Amgen raises Bradway’s salary, and Transocean scores a win in court. Sponsors - Become one Today

A panel of cancer experts rejected an experimental Merck & Co., Inc. (NYSE:MRK) drug for a rare form of cancer on Tuesday while recommending approval of a GlaxoSmithKline plc (ADR) (NYSE:GSK) treatment for the same disease. Neither drug appears to help patients live longer, but panelists said Glaxo's Votrient helped delay tumor growth in the most vulnerable patients.

Amgen, Inc. (NASDAQ:AMGN) said Tuesday that it will raise Robert Bradway's annual salary to $1.4 million from just over $1 million as part of his promotion to CEO.  Bradway is Amgen's president and chief operating officer. He will take over from Kevin Sharer as CEO on May 23; the pay raise takes effect May 21.  AMGN shares closed the day down -0.69% at $67.58 on volume of 3.32M shares.

A federal judge in New York on Tuesday dismissed a lawsuit from investors who alleged top executives of Transocean LTD (NYSE:RIG) misled shareholders about safety problems in the months leading up to a catastrophic oil well blowout in the Gulf of Mexico.  On Tuesday, U.S. District Judge Naomi Reice Buchwald threw out a class-action suit against Transocean. The Swiss company leased the Deepwater Horizon rig to BP PLC to drill a deep-sea well off the Louisiana coast. The well blew out in April 2010, killing 11 workers, destroying the rig and causing the nation's worst offshore oil disaster.

WallStNation.comThanks for visiting, to assist your investing research try using our Search (click to access) or review the list of Tickers (click to access) that link directly to articles related to the given stock/security.

To Browse our Most Recent Stories (click here)

Share Content

Share this article with others, is the Independent Wall Street Newspaper. Thanks for Reading!

Daily Market Summary

Please Review the Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details