Tag: Biotech and Pharma

Merck has signed a licensing agreement worth up to $3.3 billion with Shanghai-based LaNova Medicines to develop, make and sell an experimental cancer drug, the two companies said on Thursday.

Merck & Co. Inc.’s stock fell 3% Thursday, after the drug company beat profit and sales estimates for the third quarter, but lowered guidance due to charges stemming from deals with partners Curon Biopharmaceutical and Daiichi Sankyo.

Shares of Amgen fell more than 7% Tuesday as analysts chewed over bone density loss data from an early-stage trial on its experimental weight loss injection, MariTide.

Novavax cut its annual revenue forecast on Tuesday, citing lower-than-expected sales of its COVID-19 vaccine, ahead of handing over the rights to sell the shot to French drugmaker Sanofi.

Moderna’s third-quarter financial results look far better than analysts anticipated, but the beat seems largely to reflect Americans getting their Covid-19 shots earlier this year than they did last year.

Novo Nordisk on Wednesday reported a third-quarter beat on sales of its blockbuster weight-loss drug Wegovy and narrowed its 2024 full-year growth guidance.

Abbott Laboratories shares rose nearly 5% before the bell on Friday, after a jury cleared the company and a Reckitt unit of liability in a lawsuit over their premature baby formulas’ risks.

Merck on Thursday reported third-quarter revenue and adjusted earnings that topped expectations as the company saw strong sales from its top-selling cancer drug Keytruda, recently launched treatments and its animal health business.

Bristol Myers Squibb on Thursday reported third-quarter earnings and revenue that blew past Wall Street’s expectations thanks to its blockbuster blood thinner Eliquis and a portfolio of drugs it expects to deliver long-term growth.

Eli Lilly on Wednesday fell short of profit and revenue expectations for the third quarter, weighed down by disappointing sales of its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro, and slashed its full-year adjusted profit guidance.

Pfizer on Tuesday reported third-quarter revenue and adjusted profit that blew past expectations as the company’s Covid vaccine and antiviral pill Paxlovid helped boost sales.

France is taking a small stake in Sanofi’s consumer healthcare business in order to quell a political backlash, as the pharmaceutical company presses ahead with a €16bn deal that would hand control of the unit to US private equity group Clayton Dubilier & Rice.

The maker of healthcare products posted adjusted earnings of $1.21 per share for the third quarter, topping Wall Street’s call for $1.20, according to FactSet.

Johnson & Johnson raised its 2024 profit and sales forecasts on Tuesday after reporting strong sales of oncology drugs and quarterly results that beat Wall Street expectations.

The World Health Organization said on Monday it had approved Bavarian Nordic’s mpox vaccine for adolescents aged 12 to 17 years, an age group considered especially vulnerable to outbreaks of the disease that has triggered global concern.

Sanofi has entered into talks to sell a controlling 50% stake in its consumer health business Opella to U.S. private equity firm Clayton Dubilier & Rice, the French pharmaceutical group said on Friday.

GSK shares jumped as much as 6.5% on Thursday after the British drugmaker struck a $2.2 billion settlement over U.S. lawsuits that alleged its discontinued heartburn drug Zantac caused cancer.

Shares of German life sciences company Bayer fell nearly 7% on Wednesday, after a U.S. court said it would review a case alleging that exposure to products of the company’s Monsanto unit harmed individuals.

Activist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with the matter.

The Food and Drug Administration on Thursday approved Bristol Myers Squibb’s highly anticipated schizophrenia drug Cobenfy, the first novel type of treatment for the debilitating, chronic mental disorder in more than seven decades.