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BUSINESS BRIEFS.(TO THE POINT)
MEDICAL
Aetna profits but loses members
The HMO earned 73 cents a share in Q3, reversing last year's 38-cent loss and beating raised views by 3 cents. Revenue fell 22% to $4.83 bil. Aetna said membership slid 21% to 13.9 mil after raising premiums. Aetna expects to lose 300,000 members in Q4 and another 4%-5% in Q1 '03. Aetna rose 6% early but closed down 2% as big medicals sold off.
Amgen reimbursement rate cut
Medicare and Medicaid will cut the rate for the biotech's anemia drug Aranesp as of Jan. 1. Changes were made in the hospital outpatient payment system for Aranesp, which accounts for about 10% of the drug's current sales. But reimbursement rates in the doctor's office stayed the same. Amgen fell 3%.
** Endocare plunged 46% to a three-year low of 2.83 after the medical device maker delayed Q3 results until it completes a review.
** GlaxoSmithKline won FDA approval for Commit Lozenge, an over-the-counter nicotine lozenge that helps people quit smoking.
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VALLEY FORGE, Pa.--AmerisourceBergen Corp. has promoted Kurt Hilzinger to president and chief operating officer. The 42-year-old Hilzinger, who had been executive vice president and chief operating officer...
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...elected Chairman and Chief Executive Officer. In addition, Kurt Hilzinger moves to President and Chief Operating Officer from Senior...other matters contained in the Company's 10-K for fiscal year 1999 and other public documents could cause actual results...
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AMERISOURCE ELECTS: AmerisourceBergen Corp.'s board of directors has elected Kurt Hilzinger president and chief operating officer of the company. Previously he served as its executive vice president and chief operating...
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...been in the works for almost a year, would reduce competition...has been around for almost 22 years, since it was established...look under the hood," said Kurt Hilzinger, senior vice president and...a coup by signing a five-year, $500 million agreement to...
