Tag: Biotech and Pharma

Novo Nordisk on Wednesday flagged promising late-stage trial results for its new Cagrilinitide obesity treatment, as the Danish pharmaceutical giant seeks a next-generation alternative to its blockbuster Wegovy weight-loss drug.

Novo Nordisk A/S (NYSE:NVO) stock rose 2.8% in Monday’s premarket trading after the European Medicines Agency approved an update to the Rybelsus label to include cardiovascular benefits for patients with type 2 diabetes.

Danish pharmaceutical giant Novo Nordisk on Wednesday announced plans to cut around 9,000 roles, or roughly 11.5% of its global workforce.

Novartis (NOVN.S), will acquire Tourmaline Bio (TRML.O), for $48 per share, valuing the New York-based biopharmaceutical company at $1.4 billion on a fully diluted basis, the Swiss pharma giant said on Tuesday.

Eli Lilly’s (LLY.N), blood cancer treatment Jaypirca helped patients live longer without the disease getting worse, the U.S. drugmaker said on Monday, meeting the main goal in a late-stage study in previously untreated patients.

Novo Nordisk’s (NOVO.B) Wegovy cut the risk of heart attacks, stroke and death by more than Eli Lilly’s (LLY) weight-loss drug Zepbound, a new study found.

Denmark on Friday slashed its annual growth forecast to 1.4% from 3%, in large part due to weaker expectations for pharmaceutical giant Novo Nordisk.

Eli Lilly on Tuesday said its daily weight loss pill helped patients with obesity and Type 2 diabetes shed weight in a late-stage trial, meeting the study’s main goal and clearing the way for the company to file for approval of the drug globally.

Wegovy-maker Novo Nordisk (NOVOb.CO), has implemented a global hiring freeze covering job roles that are not critical for its business, the company said on Wednesday.

A new tweak to Medicare’s drug price negotiation program will allow Merck to squeeze more revenue out of its cancer blockbuster Keytruda. The question is whether it will be enough to make a difference for the troubled stock.

The U.S. Food and Drug Administration has approved Tonix Pharmaceuticals’ (TNXP.O), drug to manage pain related to a type of chronic condition called fibromyalgia, the company said on Friday.

Shares of  Novo Nordisk climbed almost 5% Monday after the company’s blockbuster Wegovy obesity drug received accelerated approval from the U.S. Food and Drug Administration to treat a serious liver disease.

Eli Lilly(LLY) stock tumbled after it released the results for an experimental weight-loss pill study and reported a beat-and-raise quarter early Thursday.

Novavax beat Wall Street expectations for second-quarter revenue on Wednesday, helped by a $175 million milestone payment related to U.S. approval of its COVID-19 vaccine in May.

Novo Nordisk(NVO) vowed to cut costs Wednesday amid intensifying competition and a cratering stock price as it reported second-quarter earnings.

Pfizer(PFE) raised its full-year earnings guidance as the drugmaker reported quarterly results way ahead of expectations early Tuesday, sending shares of the drugmaker up in premarket trading.

BioNTech(BNTX) stock was rising after the drugmaker reported better-than-expected results early Monday. The company’s second-quarter loss came in at 1.60 euros per share on revenue of €261 million, beating analysts’ expectations of a loss per share of €2.28 on revenue of €151 million, according to FactSet.

President Donald Trump sent letters to the leaders of 17 major pharmaceutical companies outlining how they should slash U.S. prescription drug prices to match those paid overseas, the White House said on Thursday.

A drug trial failure this spring has had no impact on the market for one of Bristol Myers Squibb’s (BMY) most closely-watched new medicines, the company’s chief commercialization officer, Adam Lenkowsky, told Barron’s ahead of the company’s earnings release Thursday.

Eli Lilly on Thursday said its blockbuster diabetes drug Mounjaro showed heart health benefits in a late-stage trial directly comparing it to the company’s older diabetes treatment, Trulicity.