Tag: Biotech and Pharma

Nov 30 (Reuters) – AbbVie said on Thursday it will buy drugmaker ImmunoGen for $10.1 billion, adding a promising drug for ovarian cancer to its portfolio of oncology treatments.

FRANKFURT, Nov 28 (Reuters) – Novartis has dialled up its sales growth target to 5% per year until 2027, citing demand for innovative drugs after the spin off of its generics business.

Bayer shares plunged to their lowest level in more than a decade after the group abandoned a key late-stage trial of a blood-thinning drug that was seen as a prospective blockbuster, saying it did not work as hoped.

Shares of Eli Lilly & Co. rose 0.67% in premarket trading Friday after drug giant announced plans to spend $2.5 billion to build a new manufacturing facility in Germany.

LONDON/COPENHAGEN, Nov 10 (Reuters) – Obesity drug maker Novo Nordisk said on Friday it will spend $6 billion to boost production in Denmark, although its chief executive warned the industry was far from being able to produce enough weight-loss drugs to meet global demand.

BioNTech U.S.-listed shares jumped more than 3% in premarket trading. BioNTech stock has declined 36% this year. Pfizer (PFE), which reported disappointing earnings last week, was up 0.2% in early trading Monday.

Eli Lilly reported third-quarter revenue and adjusted earnings that topped expectations, lifted by $1.4 billion in sales from its blockbuster diabetes drug Mounjaro.

Moderna posted a loss for the third quarter as demand for its Covid shots declined.

Novo Nordisk reported a surge in earnings and revenue on Thursday as it continues to benefit from the popularity of its weight-loss drugs. However, the company is still struggling with raising the supply of the drugs to meet demand.

Pfizer missed third-quarter estimates as the drugmaker saw more declines for its Covid-19 products.

Oct 27 (Reuters) – Sanofi  shares tumbled more than 15% after the French drugmaker abandoned its 2025 profit target under a plan to list its consumer healthcare business, while boosting its development spending plans to shore up its core innovative drugs business.

Merck reported third-quarter revenue and adjusted earnings that topped expectations.

Swiss health care company Roche on Monday announced it would acquire Telavant Holdings in a $7.1 billion transaction.

TOKYO, Oct 19 (Reuters) – Drugmaker Merck will pay Daiichi Sankyo $5.5 billion to jointly develop three of its candidate cancer drugs, they said, in a deal that could be worth up to $22 billion to the Japanese firm depending on the success of the cell-targeting therapies.

Johnson & Johnson topped quarterly earnings and revenue estimates.

COPENHAGEN, Oct 16 (Reuters) – Novo Nordisk (NOVOb.CO) has agreed to buy ocedurenone, a drug for uncontrolled hypertension with potential application in cardiovascular and kidney disease, from KBP Biosciences for up to $1.3 billion, the Danish drugmaker said on Monday.

Pfizer slashed its full-year earnings and revenue guidance Friday as it sees demand for its Covid treatment and vaccine wane.

Bristol-Myers Squibb on Sunday said it will acquire cancer drugmaker Mirati Therapeutics for up to $5.8 billion, diversifying its oncology business and adding drugs it hopes can help offset expected lost revenue from patent expirations later this decade.

The Swiss drugmaker announced intentions to spin off the Sandoz business in August, offering stakeholders one Sandoz share for every five Novartis shares via a dividend-in-kind distribution.

Oct 3 (Reuters) – Eli Lilly and Co  will buy cancer therapy developer Point Biopharma Global  for $1.4 billion, the companies said on Tuesday.