Tag: Biotech and Pharma

AstraZeneca (AZN.L), on Tuesday beat second-quarter revenue and profit expectations on robust sales of newer cancer, heart and kidney disease medicines and strong demand in the U.S., where it has invested $50 billion to expand amid tariff threats from Washington.

Danish pharmaceutical giant Novo Nordisk on Tuesday cut its full-year sales and profit guidance, citing weaker growth expectations for its blockbuster Wegovy obesity drug in the key U.S. market.

Merck on Tuesday said it will slash $3 billion in costs by the end of 2027 to be fully reinvested to support new product launches and its drug pipeline.

AstraZeneca on Monday said it plans to invest $50 billion in bolstering its U.S. manufacturing and research capabilities by 2030, becoming the latest pharmaceutical firm to ramp up its stateside spending in the wake of U.S. trade tariffs.

Biogen will invest an additional $2 billion in its existing manufacturing in North Carolina, the drugmaker said on Monday, as it seeks to expand its presence in the U.S. amid President Donald Trump’s tariff threats.

GSK (GSK.L), shares fell more than 6% on Friday to the bottom of Britain’s blue-chip index after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep, citing earlier concerns over side effects.

Abbott (ABT.N), beat Wall Street estimates for second-quarter profit on Thursday, driven by strong demand for its medical devices including continuous glucose monitors.

Johnson & Johnson raised its full-year sales forecast on Wednesday after beating estimates for second-quarter profit on strong demand for its cancer drug, Darzalex, and strength in its medical device business.

MiNK Therapeutics, Inc. (NASDAQ:INKT) stock soared 200% after the company announced a complete remission in a patient with metastatic testicular cancer following treatment with its allogeneic iNKT cell therapy, agenT-797.

Merck will buy UK-based Verona Pharma (NASDAQ:VRNA) for about $10 billion, the companies said on Wednesday, strengthening the U.S. drugmaker’s respiratory treatments as part of efforts to reduce dependence on its blockbuster cancer treatment.

Novartis (NOVN.S), said on Tuesday it had received approval in Switzerland for Coartem Baby, which it said was the first drug to treat malaria in babies and very young children.

 Eli Lilly (LLY.N), said on Thursday that India’s drug regulator had approved the launch of pre-filled injector pens of its blockbuster weight-loss drug, Mounjaro, giving it more options to compete with Novo Nordisk’s recently launched Wegovy.

Nektar Therapeutics (NASDAQ:NKTR) stock surged 140% after the company announced its experimental drug rezpegaldesleukin met primary and key secondary endpoints in a Phase 2b study for moderate-to-severe atopic dermatitis.

Shares in Novo Nordisk (NYSE:NVO) fell as much as 3.5% on Monday after detailed trial data on its experimental obesity drug CagriSema fuelled investor concerns about its competitiveness against rival Eli Lilly (NYSE:LLY)’s pipeline.

Hims & Hers Health (NYSE:HIMS) stock plunged 20% after pharmaceutical giant Novo Nordisk (NYSE:NVO) announced it would terminate its collaboration with the telehealth company over the sale of weight loss drugs.

Shares of AstraZeneca (ST:AZN) and GlaxoSmithKline (LON:GSK) fell on Wednesday after U.S. President Donald Trump said tariffs on imported drugs could be imposed “very soon.”

Eli Lilly will acquire gene-editing startup Verve Therapeutics for up to $1.3 billion, the companies said on Tuesday, to boost its pipeline of experimental medicines beyond its blockbuster weight-loss and diabetes drugs.

Dyne Therapeutics, Inc. (Nasdaq:DYN) stock fell 23% after the company announced an updated plan for obtaining U.S. Accelerated Approval for DYNE-101 in myotonic dystrophy type 1 (DM1) following a Type C meeting with the FDA.

Eli Lilly announced Monday that the highest doses of its flagship weight-loss treatment, Zepbound, will now be available in single-dose vials at a fixed monthly price of $499 through its direct-to-consumer platform LillyDirect.

BMO Capital and Piper Sandler downgraded Sarepta Therapeutics (NASDAQ:SRPT) after the company reported a second death linked to its gene therapy Elevidys in a non-ambulatory Duchenne muscular dystrophy (DMD) patient.