Pharma News
04 Aug 2024 to 10 Aug 2024
Aug 9, 2024
Report: U.S. Aims to Eliminate HIV Epidemic by 2034 in the HIV Drugs and Injectables Market
The global HIV drugs and injectables market is projected to surpass $35 billion in revenue by 2024, with strong growth expected through 2034. The demand for newer drugs presents a challenge for generic manufacturers, with limited companies like Aurobindo, Cipla, and Mylan operating in this sector. Lack of trained staff, infrastructure, and storage systems also pose hurdles for implementing long-acting injectables (LAI) for HIV treatment. The report provides insights into market dynamics, driving and restraining factors, opportunities, and profiles of leading companies in the industry.
Aug 8, 2024
Lilly surpasses second-quarter predictions with stable supply of Tirzepatide, increasing forecasted full-year revenue.
Pharmaceutical company Eli Lilly exceeded analyst forecasts with its second-quarter earnings report, generating $11.3 billion in revenue, a 36% increase from the same period in 2023. The strong performance was attributed to improvements in the supply of its tirzepatide brands Mounjaro and Zepbound. As a result, the company raised its full-year revenue guidance to a range of $45.4 billion to $46.6 billion. In comparison, rival Novo Nordisk's semaglutide brands Ozempic and Wegovy fell short of analyst expectations due to supply issues. Lilly's Mounjaro and Zepbound were also taken off the FDA's Drug Shortage database.
Aug 8, 2024
Merck's medication for a blood vessel disorder demonstrates positive results in advanced clinical trial - Report from Yahoo News Canada
Merck & Co's therapy, Sotatercept, which was obtained through the acquisition of Acceleron Pharma, has successfully met its primary goal in a late-stage study for patients with the blood vessel disorder, pulmonary arterial hypertension (PAH). The drug significantly improved the distance patients could walk in six minutes compared to a placebo. Merck's acquisition of Acceleron has been validated with this positive trial data, boosting its cardiovascular drug portfolio. Pulmonary arterial hypertension affects approximately 40,000 people in the US.
Aug 8, 2024
Eli Lilly raises sales forecast for 2024 due to increased demand for Zepbound in the quarter - report from Bloomberg
Eli Lilly & Co. is making significant gains in the obesity market, with their weight-loss drug Zepbound generating sales of $1.2 billion in Q2, exceeding Wall Street predictions. The company's increased supply of weight-loss drugs has positioned it as a strong competitor to Novo Nordisk A/S. Eli Lilly now expects higher full-year revenue, with estimates ranging from $45.4 billion to $46.6 billion.
Aug 8, 2024
Eli Lilly improves financial forecast for 2024 due to successful sales of popular weight loss medications - Capital Brief
Pharmaceutical company Eli Lilly has raised its 2024 revenue forecast on the back of strong sales of its diabetes and weight loss drug, Zepbound. The company's second-quarter revenue soared by 36%, surpassing analyst expectations. In contrast, rival company Novo Nordisk reported weaker-than-expected sales of its obesity drug. Analysts believe that Eli Lilly's success indicates its lead over Novo Nordisk in the metabolic drug market.
Aug 8, 2024
Eli Lilly reports impressive financial results driven by success of diabetes and weight loss medications
Pharma giant Eli Lilly surpasses Q2 expectations with higher-than-anticipated earnings and revenue, boosted by the success of diabetes drug Mounjaro and weight loss injection Zepbound. Mounjaro sales exceeded $3 billion, tripled from the previous year, while Zepbound sales surpassed $1 billion. These impressive results caused a pre-market surge of over 9% in Eli Lilly shares. With a market cap of over $730 billion, Eli Lilly is the largest US-based pharmaceutical company.
Aug 8, 2024
Eli Lilly's Popular Weight-Loss Medication Helps Increase Annual Projections - Devdiscourse
Pharmaceutical company Eli Lilly raises annual sales forecast by $3 billion due to increased demand for its weight-loss drug, Zepbound, leading to a 14% jump in shares. The company also boosts its 2024 profit forecast and reports over $1 billion in sales for Zepbound. Competitor Novo Nordisk experiences disappointing sales and lowers profit forecast. Eli Lilly's investments in manufacturing facilities, including a $5.3 billion investment in an Indiana site for tirzepatide, contribute to the positive results.
Aug 8, 2024
Quartz reports that Eli Lilly will introduce single-dose vials of Zepbound in the United States.
Eli Lilly is launching single-dose vials for starter doses of its weight loss drug Zepbound in response to high demand. The company is set to start selling these vials in the US in the coming weeks. Sales of Zepbound and other weight loss drugs have increased demand for the medications, making it difficult for some patients to get their prescriptions filled. The production of Zepbound's pre-filled injection pens has also contributed to the supply shortage. Eli Lilly expects the vials to have a significant impact on Zepbound supply in early 2025.
Aug 8, 2024
Eli Lilly experiences a surge in revenue from blockbuster drug sales
Pharmaceutical company Eli Lilly exceeded expectations in the second quarter, driven by strong sales of its diabetes treatment, Mounjaro, and weight loss drug, Zepbound. With over $4 billion in combined sales from these medicines, Lilly has increased its full-year forecast. Additionally, breast cancer treatment, Verzenio, experienced a 44% increase in sales. As a result, Lilly reported a 68% rise in profit and a 36% revenue increase. Adjusted earnings were also well above expectations. The company's shares surged over 11% in premarket trading.
Aug 8, 2024
Merck halts advanced trial of new lung cancer therapy due to significant...
Pharmaceutical company Merck & Co. has discontinued a late-stage trial for a treatment for extensive-stage small cell lung cancer after patients experienced a high rate of adverse events. The trial involved a combination of Merck's blockbuster cancer drug Keytruda and an anti-TIGIT antibody called vibostolimab. Merck is notifying study investigators and recommending that patients stop treatment. This news is disappointing for investors and experts who had high hopes for the new class of immunotherapies being developed under the anti-TIGIT umbrella.
Aug 8, 2024
Eli Lilly raises projected revenue as a result of strong sales of obesity drug
Eli Lilly raises annual forecast by $3 billion as demand for its weight-loss drug Zepbound skyrockets, sending shares up 13%. The company's 2024 revenue forecast is now between $45.4 billion and $46.6 billion. Zepbound sales crossed $1 billion in a quarter for the first time since its launch. Lilly's drug Mounjaro, which has the same active ingredient as Zepbound, also saw increased supply during the quarter. Lilly expects the two drugs to generate a combined $15 billion in revenue this year.
Aug 7, 2024
Novo Nordisk reduces 2024 profit forecast due to competitive pressure from Eli Lilly, according to Business Standard
Danish pharmaceutical company Novo Nordisk has lowered its profit outlook for 2024 after reporting weaker-than-expected sales of its weight-loss drug Wegovy. The company's operating profit in the second quarter rose 8% to DKK25.9bn ($3.8bn), falling short of analysts' expectations. Novo Nordisk's shares fell 3.2% as a result. The lower profit forecast raises concerns about increasing competition from Eli Lilly in the obesity drug market, especially in the US where the majority of adults are overweight or obese. Novo Nordisk is working to expand its manufacturing capacity to meet growing demand for Wegovy.
Aug 7, 2024
FDA Approves First-In-Class Treatment for Two Types after Servier's Successful Acquisition
French pharmaceutical company Servier Pharmaceuticals has received FDA approval for its new drug Voranigo, which treats two rare types of brain cancer. The drug targets mutant IDH1 and IDH2 enzymes and is suitable for use after surgery. Voranigo significantly improves progression-free survival and delays the need for further intervention. Servier acquired the drug as part of its $1.8 billion acquisition of Agios Pharmaceuticals' oncology division. Voranigo will be marketed under the brand name Voranigo.
Aug 7, 2024
Sales of Wegovy and Ozempic by Novo Nordisk are lower than anticipated, according to Quartz.
Sales of Novo Nordisk's diabetes drug Ozempic and weight loss drug Wegovy in the second quarter fell short of expectations, leading to a weaker-than-expected profit and a lowered operating profit outlook for the year. The company's stock fell over 8% following the news. Ozempic and Wegovy, which belong to a class of drugs known as incretin medications, have become highly sought after for their slimming effects. Demand for weight loss drugs has skyrocketed, making it difficult for some patients to fill their prescriptions. Novo Nordisk has increased its manufacturing capacity to meet demand.
Aug 7, 2024
Maryland Insurance Provider Files Lawsuit against Amgen for Alleged Monopoly Practices - Source: Bloomberg Law News
Health insurance provider Carefirst of Maryland Inc. has filed a proposed class action against biotech giant, Amgen Inc., claiming that the company monopolized the autoimmune drug, Enbrel, and prevented competition from more affordable biosimilar versions. Carefirst alleges that Amgen unlawfully delayed competition to maintain its monopoly position, denying purchasers and patients access to lower prices.
Aug 7, 2024
Stock prices of Novo Nordisk fall following disappointing sales of obesity drug Wegovy.
Pharmaceutical company Novo Nordisk has lowered its profit outlook for the year after reporting lower-than-expected sales of its weight-loss drug Wegovy. The news has raised concerns among investors about competition from rival Eli Lilly. Novo shares fell by as much as 7.7% on the back of the announcement. The company is racing to expand production capacity to meet the high demand for obesity drugs, as the market is predicted to be worth around $150 billion by the early 2030s. Novo's second-quarter profit also missed expectations.
Aug 7, 2024
Novo Nordisk reports disappointing results in sales of obesity drug Wegovy.
Danish pharmaceutical company Novo Nordisk has reduced its full-year profit outlook following weak sales of its weight-loss drug Wegovy. The results raise concerns among investors about competition from Eli Lilly, with Novo's shares falling up to 7.7% in early trading. Novo and Lilly are racing to expand production capacity to meet demand in the fast-growing obesity drug market, which is forecast to be worth around $150 billion by the early 2030s. Patients in the US are staying on Wegovy for an average of just six months, as availability of the drug remains limited.
Aug 7, 2024
Wegovy's increased availability negatively impacts Novo Nordisk's financial earnings.
Danish drugmaker Novo Nordisk reported disappointing sales of its weight-loss treatment Wegovy due to higher-than-expected price concessions in the US. The announcement raised concerns among investors about growing pricing pressure as Eli Lilly & Co. prepares to launch its rival product. Novo is competing with Lilly for dominance in the obesity drugs market, which is expected to reach $130 billion by the end of the decade. Novo's shares fell 3.6% following the news. Despite the setback, Novo still expects full-year operating profit to grow between 20% and 28%.
Aug 7, 2024
Marketing campaigns by Amgen contribute to the increase in Tepezza sales - Fierce Pharma
Amgen's Tepezza, a treatment for thyroid eye disease (TED), is gaining momentum with $479 million in sales in Q2 2023, the highest quarterly figure since 2022. Tepezza has had a roller-coaster trajectory since its approval in 2020, but with a market of roughly 100,000 patients, there is still significant growth potential. Amgen is working to educate healthcare providers about the impact of TED and has achieved favorable medical policy changes for over 65% of U.S. covered lives. Amgen also plans to launch Tepezza in Japan next year and has filed for approval in Europe and the UK.
Aug 7, 2024
Novo Nordisk experiences a drop in shares following unexpected lower sales of obesity drug Wegovy
Danish pharmaceutical company Novo Nordisk has lowered its full-year profit outlook after reporting weaker-than-expected sales of its weight-loss drug Wegovy. The results come as competition from rival Eli Lilly heats up. Novo Nordisk's shares fell nearly 8% in early trading. The company is racing to expand production capacity to meet increasing demand in the growing obesity drug market. Despite concerns, Novo Nordisk upgraded its sales outlook, but revealed that US patients are staying on Wegovy for just six months due to low availability.
Aug 7, 2024
Shares of Novo Nordisk drop as company that makes obesity drug issues profit warning - Yahoo Finance
Pharmaceutical company Novo Nordisk has cut its profit outlook for 2024 after reporting lower-than-expected sales growth for its weight loss drug Wegovy. The company's second-quarter profit rose 8% to $3.8 billion, falling short of the $4 billion forecast by analysts. Investor concerns have been raised about competition from rival drug Zepbound, made by Eli Lilly. Novo Nordisk's first-mover advantage in the obesity drug market is at risk as it races to expand capacity and meet increasing demand. Second-quarter sales of Wegovy did increase, and the company raised its sales growth outlook for this year.
Aug 7, 2024
Novo Nordisk reduces yearly profit outlook due to lower-than-expected sales of weight loss drug Wegovy
Danish drugmaker Novo Nordisk has reported disappointing sales of its weight-loss treatment, Wegovy, due to higher-than-expected price concessions to US pharmacy benefit managers. The setback raised concerns among investors about growing pricing pressure as Eli Lilly enters the market with its rival product. Novo is vying with Lilly for dominance in the obesity drugs market, which is expected to reach $130bn by the end of the decade. Despite the setback, Novo's revenue was boosted by strong sales in other areas of its diabetes and obesity franchises, particularly insulin.
Aug 7, 2024
Business Wire releases a report on the United States market for generic drugs from 2024 to 2032, categorized by therapeutic area and type.
The United States generic drugs market is projected to reach $127.41 billion by 2032, with a CAGR of 3.60% between 2024 and 2032. The market is driven by factors such as the growing need for managing chronic illnesses, cost savings offered by generic drugs compared to brand-name equivalents, and the availability of patent cliffs. California's generic drugs market is thriving due to the state's large and diverse population and progressive healthcare laws. In company news, Teva Pharmaceuticals and Glenmark Pharmaceuticals have announced developments related to their generic drug offerings.
Aug 6, 2024
Analysis of the United States Market for Generic Drugs from 2024 to 2032, as per GlobeNewswire
The United States generic drugs market is projected to reach $127.41 billion by 2032, with a compound annual growth rate (CAGR) of 3.60% between 2024 and 2032. This growth is driven by the need for managing chronic illnesses, cost savings, and availability of patent cliffs. The state of California has a thriving generic drugs market due to its population and progressive healthcare laws. Teva Pharmaceuticals, Glenmark Pharmaceuticals, and Pfizer Inc. are among the key players in this market. The report also provides an analysis of therapeutic areas, drug delivery methods, distribution channels, age groups, payment types, and states in the US generic drugs market.
Aug 6, 2024
Analysis Report on the Generic Drugs Market in the United States - by GlobeNewswire
The United States Generic Drugs Market is expected to reach $127.41 billion by 2032, with a CAGR of 3.60% between 2024 and 2032. Generic medications provide cost savings, enhanced accessibility, and affordability, making them essential in lowering healthcare costs and improving the effectiveness of the U.S. healthcare system. The growing need for managing chronic illnesses and the availability of patent cliffs contribute to the market's growth. Teva Pharmaceuticals, Glenmark Pharmaceuticals, and Pfizer Inc. are among the key players in the market.
Aug 6, 2024
Bayer highlights 'modest' second quarter results amidst extensive restructuring efforts - BioSpace
Pharmaceutical company Bayer reported a slight increase in sales in its second-quarter 2024 earnings results, as the company undergoes a strategic overhaul. The company's pharmaceuticals business grew by 4.5% year-over-year, driven by new products Nubeqa and Kerendia. Bayer's crop science unit also saw growth and was its top-performing business. The company's efforts to regain investor confidence come after its troubled acquisition of Monsanto. CEO Bill Anderson has implemented cost-cutting measures, including job cuts, to maximize efficiency.
Aug 5, 2024
Experts suggest offering more incentives and lowering costs for biosimilar prescriptions at...
Experts at the 2024 Asian Biotechnology Exhibition are advocating for increased incentives and cost reductions for biosimilar prescriptions in Taiwan. The Taiwan Nongovernmental Hospitals and Clinics Association and the Biosimilar Drug Function Committee of the Taiwan Bio Industry Organisation jointly organized the "Biosimilar Drug Hospital Summit," which highlighted a pilot program to encourage the use of biosimilar drugs. The program aims to boost biosimilar drug prescriptions to over 30% within three years by providing incentives and balancing drug costs. Policy recommendations include expanding biosimilar drug management and aligning health insurance payment standards with medical guidelines.
Aug 5, 2024
Lilly's Mounjaro and Zepbound Removed from FDA Drug Shortage List, Reports BioSpace
Eli Lilly's weight-loss and diabetes treatment tirzepatide is no longer in shortage, according to the FDA's drug supply tracker. The drug is available in all doses under the brand names Mounjaro and Zepbound. This is seen as a positive development and a sign of Lilly's continued execution. In contrast, tirzepatide's competitor semaglutide, marketed as Ozempic and Wegovy, continues to face shortages. Lilly has made significant investments in manufacturing to meet the growing demand for tirzepatide and is also developing an oral weight-loss drug called orforglipron.
