Tag: Biotech and Pharma

AstraZeneca (AZN.L) said on Friday it had signed an agreement with Quell Therapeutics potentially worth more than $2 billion to develop cell therapies that could cure autoimmune diseases.

Biogen and Eisai are headed back to face the Food and Drug Administration’s outside neurology experts, two and a half years after the same panel dealt what proved to be a decisive blow to their Alzheimer’s disease therapy, Aduhelm.

Shares of Rocket Pharmaceuticals gained 2.3% premarket on Thursday after the late-stage biotech company said the U.S. Food and Drug Administration granted fast-track and orphan-drug designations to its gene therapy candidate for treatment of an inherited heart disease.

Weight loss drug Wegovy has transformed the obesity market and pharmaceutical companies with existing treatments are hoping the resulting demand will boost demand for their older, less effective but cheaper, drugs.

Germany’s Merck KGaA on Thursday warned that adjusted operating earnings could decline by as much as 10% this year as the outlook for its specialty chemicals business darkened, offsetting an upswing in drug prescriptions.