Pharma News
03 Nov 2024 to 09 Nov 2024
Nov 9, 2024
Eli Lilly's Profits Decline Due to Lack of Demand for Weight-Loss Drug - Article by The Pinnacle Gazette
Pharmaceutical company Eli Lilly faces an earnings shortfall as demand for its weight-loss drugs falls short of expectations. Despite disappointing earnings and guidance, Eli Lilly remains positioned for long-term growth with its blockbuster products. The company's stock took a hit after missing revenue predictions and adjusting its guidance for the upcoming year. The disappointing sales were attributed to inventory management issues, as strong consumer demand was not matched by production replenishment. However, analysts believe the underlying demand for Eli Lilly's products remains strong, and the company's potential for growth and innovation is promising.
Nov 9, 2024
Quarterly Report for Fennec Pharmaceuticals Inc (FENC) Released by Quartz
Pharmaceutical company Fennec Pharmaceuticals has submitted its 10-Q filing for the third quarter of 2024, reporting net product sales of $6,974 and a gross profit of $5,617. The company experienced increases in research and development expenses, selling and marketing expenses, and general and administrative expenses. Fennec Pharmaceuticals also reported a net loss of $5,735 for the quarter. The filing also highlighted a material weakness in internal control over financial reporting, which the company plans to address by enhancing review procedures and engaging additional service providers or hiring full-time employees.
Nov 8, 2024
Late-Stage Study Shows AstraZeneca/Amgen's Asthma Drug Successful in Chronic Rhinosinusitis Patients
AstraZeneca and Amgen have announced positive results from the Phase 3 WAYPOINT trial of Tezspire (tezepelumab) in patients with chronic rhinosinusitis with nasal polyps (CRSwNP). The trial showed that Tezspire led to a significant reduction in the size of nasal polyps and improved nasal congestion compared to placebo. Tezspire is currently approved for severe asthma and is being evaluated for other respiratory conditions. Full results will be shared at an upcoming medical meeting.
Nov 8, 2024
Daiichi Sankyo forms collaboration with Alteogen from Korea for subcutaneous Enhertu in $300 million licensing agreement
Korea's Alteogen has entered into a licensing deal with Daiichi Sankyo to develop a subcutaneous version of the antibody-drug conjugate Enhertu. The deal includes an upfront payment of $20 million and potential milestone payments of up to $280 million, plus royalties on sales. Enhertu's sales have slowed, and the subcutaneous version could provide a boost for Daiichi and AstraZeneca. Alteogen's ALT-B4 technology has also been licensed by Merck and is being used to develop subcutaneous versions of its drugs. Alteogen is also working on biosimilars to Regeneron's Eylea and Roche's Herceptin.
Nov 8, 2024
Alteogen partners with Daiichi Sankyo, a Japanese pharmaceutical company, for collaborative development ...
South Korean biotech company Alteogen has signed an exclusive technology transfer agreement with Japanese pharmaceutical company Daiichi Sankyo to develop a subcutaneous injection (SC) formulation for antibody drug conjugates (ADC). This marks the world's first ADC developed into an SC formulation. By converting intravenous formulations to SC formulations, the effectiveness of anticancer drugs can be increased while reducing side effects. Alteogen will receive $20 million as a down payment and up to $280 million based on product development, approval, and sales performance. The move is expected to disrupt the global biopharmaceutical market.
Nov 8, 2024
Increased sales of Ozempic and Wegovy drive growth, along with the introduction of a generic weight loss drug by Hims - Yahoo
The U.S. FDA has proposed a new rule to remove oral phenylephrine from the list of approved active ingredients in over-the-counter cold and allergy medications due to a lack of efficacy. Novo Nordisk has teased details of a potential successor to its weight loss drug Ozempic, while sales of its current blockbuster weight loss drug, Wegovy, continue to surpass expectations. Hims & Hers will offer a generic version of liraglutide, an older GLP-1 weight loss drug, next year. Zealand Pharma has reported positive results for its experimental weight-loss drug with fewer side effects. Novo Nordisk has entered a partnership with Ascendis Pharma to develop a long-acting GLP-1 drug. Viking Therapeutics has released positive clinical trial data for its experimental weight-loss drugs.
Nov 8, 2024
Shortage of GLP-1 Drug Resolved, but Prices and Accessibility Could Increase
The FDA has listed Novo Nordisk's diabetes and obesity medications, Wegovy and Ozempic, as "available" after years of shortages. The availability update is a result of the company's heavy investment in manufacturing plants to increase supply in the United States. However, this may limit options for patients who rely on cheaper compounded versions of tirzepatide and semaglutide. Compounded versions tend to be much less expensive than the brand-name versions. The compounding pharmacies filed a lawsuit against the FDA for removing the drugs from the shortage list without enough information and rationale.
Nov 6, 2024
Japan increases patient costs for off-patent medications
Starting in October, individuals in Japan are experiencing higher out-of-pocket expenses for brand-name drugs with expired patents. This move aims to promote the use of generic drugs as a cost-saving measure. However, widely used products like moisturizing ointments and poultices are also affected, which poses a challenge for authorities in informing users and preventing confusion at pharmacies.
Nov 6, 2024
Sales of Novo Nordisk's Wegovy weight loss drug on the rise - Quartz
Novo Nordisk's weight loss drug Wegovy has exceeded expectations with sales of 17.3 billion Danish Krone ($2.5 billion) in Q3 2024, beating analysts' projections. The drug belongs to the GLP-1 medication class, which regulates appetite and blood sugar and is sought-after for obesity and Type 2 diabetes treatments. Novo Nordisk is working to increase production to meet rising demand. Rival company Eli Lilly, maker of competing medications Zepbound and Mounjaro, reported lower-than-expected sales of Zepbound in the same period.
Nov 6, 2024
What medical conditions are not treatable with Ozempic and other weight loss medications?
GLP-1 medications like Ozempic are proving to have more health benefits than initially thought. Novo Nordisk's Wegovy has been approved by the FDA for reducing heart risks, and Eli Lilly is seeking approval for Zepbound to treat sleep apnea. Additionally, studies indicate that GLP-1 drugs may be effective in treating addictions, Alzheimer's disease, and reducing the risk of COVID-19-related deaths.
Nov 6, 2024
Shares of Novo Nordisk rise by 8% following better-than-expected sales of Wegovy - as reported by NBC10 Philadelphia
Pharmaceutical company Novo Nordisk has reported third-quarter earnings in line with expectations, with net profit reaching 27.3 billion Danish kroner ($3.92 billion). Sales of its weight-loss drug Wegovy were 79% higher in Q3 2024 compared to the same period last year, contributing to a narrowed sales growth guidance for the full year. Novo Nordisk is investing in capacity to increase supply and has seen increased competition in the weight-loss market but promising results for Ozempic in reducing the risk of Alzheimer's disease.
Nov 6, 2024
Novo Nordisk, the company behind a weight-loss drug, surpasses revenue estimates in the third quarter.
Pharmaceutical company Novo Nordisk has reported better-than-expected revenue in the third quarter, driven by strong sales of its weight-loss drug, Wegovy. The drug contributed to revenue of 17.3 billion Danish kroner ($2.5 billion) for the Copenhagen-based company.
Nov 6, 2024
Legal case involving Teva's pharmaceutical research and development division and Deva Holding A.S. over ProAir® HFA (albuterol sulfate)
Pharmaceutical company Teva has prevailed in a patent infringement lawsuit against Deva concerning Teva's ProAir HFA drug. Teva sued Deva after the latter filed an abbreviated new drug application (ANDA) seeking approval to market a generic version of ProAir HFA. Deva attempted to have the case dismissed, arguing lack of subject matter jurisdiction. However, the court ruled in Teva's favor, stating that there is a definite and concrete infringement dispute between the parties that could be resolved through a declaratory judgment. The court also agreed to wait for the Federal Circuit's decision regarding another related case before ruling on the 35 U.S.C. § 271(e)(2) allegations.
Nov 6, 2024
Acadia Pharma Sells Fast-Track FDA Drug Review Voucher for $150M, Reports MedCity News
Acadia Pharmaceuticals has agreed to sell its priority review voucher, which grants expedited FDA review for a drug, for $150 million. The buyer was not disclosed. The voucher was obtained after Acadia’s drug, Daybue, became the first FDA-approved treatment for Rett syndrome. As part of the licensing agreement, $50 million of the proceeds from the voucher sale will go to Neuren Pharmaceuticals, the company that originally licensed Daybue to Acadia. This sale comes as the FDA plans to wind down the priority review voucher program, increasing the demand for these vouchers.
Nov 6, 2024
An enhanced version of Ozempic set to be released. Here are the details to be aware of - Quartz
Danish pharma company Novo Nordisk has given investors an update on its potential successor to Ozempic, its next-generation GLP-1 medication called CagriSema. The drug combines semaglutide, the active ingredient in Ozempic, with an amylin and calcitonin receptor agonist. Early-stage trials showed CagriSema helped patients lose an average of 15.6% of their weight, and Novo Nordisk believes larger trials will show it can help users lose up to 25% of their weight. Results for two late-stage trials are expected later this year and in the first half of 2025.
Nov 6, 2024
Wegovy sales surge for Novo Nordisk with expansion into global markets, reports Fortune Europe
Novo Nordisk's sales of the weight-loss drug Wegovy surged last quarter, reaching 17.3 billion Danish kroner ($2.5 billion), as the drug became available in more countries. Sales of Wegovy rose by about 50% in the US, despite falling prices, after more insurers started covering the drug. The company's stock rose by 8.9% in response to the positive results. Novo Nordisk is facing competition from Eli Lilly in the obesity drugs market, which is expected to reach $130 billion by the end of the decade.
Nov 6, 2024
Bristol-Myers Squibb prevails in legal battle with Sandoz regarding apixaban/Eliquis - JUVE Patent
The District Court of The Hague has ruled in favor of Bristol-Myers Squibb, determining that Sandoz's generic product infringes on the company's patent for the blood-thinning drug apixaban, marketed as Eliquis. The court found the patent to be valid and rejected revocation claims by Sandoz and Teva. This decision is part of a long-standing dispute over the market entry of generic apixaban products in Europe, and appeals by Sandoz and Teva are pending. The court's ruling bans the generic companies from registering their apixaban products in the Netherlands, effectively imposing a sales ban in the country.
Nov 6, 2024
Novo Nordisk, a pharmaceutical company specializing in obesity treatments, reports robust earnings - The Japan Times
Novo Nordisk, the Danish pharmaceutical company known for drugs like Ozempic and Wegovy, reported robust third-quarter earnings despite facing production constraints. The company, which expects a 23% to 27% increase in full-year sales for 2024, revised its previous forecast. The growth is anticipated due to continued volume growth and capacity limitations at some manufacturing sites.
Nov 5, 2024
Health organizations express worries about exclusive rights for medications treating rare diseases - Report from The Economic Times
Patients and treatment activists have raised concerns over drug patent monopolies for rare diseases. Swiss drugmaker Roche is seeking an injunction against Natco Pharma to prevent the generic version of the spinal muscular atrophy (SMA) drug Risdiplam. Health groups argue that Roche's legal action limits access to affordable medication and have called for government intervention to incentivize generic manufacturers. Roche's patent for Risdiplam is effective until May 2035, allowing the company to charge high prices. Activists argue that the drug could be made available at a lower cost and the monopoly hinders efforts for competitive pricing and domestic production.
Nov 4, 2024
Novo unveils highly effective new obesity drug, report says
Novo Nordisk, the pharmaceutical company behind the weight loss drug semaglutide, is developing a new medication called CagriSema that combines semaglutide and cagrilintide. In clinical trials, CagriSema helped patients lose 15.6% of their body weight. It is currently undergoing a Phase III trial against Eli Lilly's Zepbound. The drugs work by slowing down the movement of food through the stomach and curbing appetite. Despite some side effects, these drugs have been successful in promoting weight loss.
Nov 4, 2024
Novo's semaglutide, a major drug for obesity, set to receive label extension in Europe - European Biotechnology
Danish pharmaceutical company Novo Nordisk has released preliminary Phase III data from a study evaluating the efficacy of the drug semaglutide in adults with metabolic dysfunction-associated steatohepatitis (MASH) and advanced liver fibrosis. The results showed that semaglutide met all primary endpoints, with a significant percentage of patients experiencing improvement in liver fibrosis and resolution of steatohepatitis. Novo Nordisk plans to submit marketing authorization applications in the US and EU by the first half of 2025. The study is set to continue until 2029 to demonstrate long-term efficacy.
Nov 4, 2024
AstraZeneca supports initiative by American Lung Association to enhance quality of life for individuals with COPD
AstraZeneca has joined a campaign led by the American Lung Association (ALA) aimed at improving the quality of life for patients with chronic obstructive pulmonary disease (COPD). The "Learning to Live with COPD" initiative, supported by AstraZeneca, will provide education on the disease and treatment options. The campaign will focus on high-risk groups including women, those with lower socioeconomic status, and those in rural communities. With over 11.7 million diagnosed cases of COPD in the US and millions more potentially undiagnosed, the campaign aims to empower patients to better manage their condition and engage with healthcare providers.
