Pharma News
05 May 2024 to 11 May 2024
May 9, 2024
Novo Nordisk partners with Metaphore to collaborate on creating innovative treatments for obesity - SaltWire
Novo Nordisk has entered into a research collaboration with U.S. biotech company Metaphore to develop new drugs for obesity. The Danish drugmaker aims to expand its obesity drug portfolio beyond Wegovy, with at least eight other treatments in its pipeline. The collaboration will utilize Metaphore's technology platform to develop two specific therapies for obesity. The global weight loss drug market is projected to reach $100 billion by the end of the decade. Novo may pay up to $600 million in milestone payments and royalties on net sales of licensed products.
May 9, 2024
Alembic Pharma in India reports increased fourth-quarter earnings driven by strong sales in North America - Yahoo News Singapore
Indian generic drugmaker Alembic Pharma reported a 17% increase in fourth-quarter profit, driven by strong sales in the North American market. The company, which sells a copycat version of Bristol-Myers Squibb's cancer drug Revlimid, saw overall revenue rise by nearly 8%. Sales in North America grew by 19%, while domestic sales climbed by 3%.
May 9, 2024
Alembic Pharma in India reports increased Q4 profit due to robust sales in North America, according to ET HealthWorld.
Indian generic drugmaker Alembic Pharma has reported a 17% increase in fourth-quarter profit, driven by strong sales, particularly in the North American market. The company's consolidated profit for the quarter rose to INR1.78bn ($21.3m), up from INR1.53bn the previous year. Sales in North America grew 19%, while domestic sales rose 3% during the quarter. Alembic Pharma's revenue overall increased almost 8% to INR15.17bn. India and the US accounted for around 61% of the drugmaker's total revenue.
May 8, 2024
AbbVie fails to meet sales expectations due to weak performance of Humira, leading to a drop in shares - Yahoo Life UK
AbbVie Inc's first-quarter sales fell short of Wall Street expectations, mainly due to European competition for its arthritis drug Humira and lower demand for its newer drug Rinvoq. Sales of Humira dropped 2.7% to $4.74 billion, while Rinvoq's sales came in at $465 million, missing estimates. However, AbbVie's plaque psoriasis drug Skyrizi exceeded expectations with sales of $940 million. The company lowered its adjusted earnings per share forecast and expects growth to be impacted in 2023 and 2024 due to loss of exclusivity for Humira.
May 8, 2024
Krystal Biotech highlights success of topical gene therapy adoption, sets sights on international expansion - Fierce Pharma
Krystal Biotech's rare skin disease treatment, Vyjuvek, has generated over $95 million in sales since its FDA approval in 2023. The drug, which is the first topical gene therapy for dystrophic epidermolysis bullosa (DEB), is performing well and is expected to receive approval in Europe and Japan. Patient compliance with the weekly treatment is high, thanks to its convenience and effectiveness. With targeted marketing and educational programs, Krystal aims to establish Vyjuvek as the standard of care for DEB in the coming years. Analysts predict sales of $285 million for this year.
May 8, 2024
Teva Pharmaceutical Industries to introduce a biosimilar of Humira as first quarter earnings fall short of expectations - reported by Yahoo Finance
Teva Pharmaceutical Industries is preparing to launch its biosimilar of AbbVie's arthritis drug Humira in the coming weeks. The launch follows mixed results for Teva in Q1 2024, but shareholders were buoyed by late-stage results for a new drug for schizophrenia. The pharma firm is also developing a monthly injection for schizophrenia with France's Medincell. Teva CEO Richard Francis believes the US market may "really adopt biosimilars on a broader level".
May 8, 2024
Sanofi's Latest Cancer Medication May Result in Significant Financial Gain - The Globe and Mail
Sanofi expects its cancer-fighting drug, rilzabrutinib, to be a potential blockbuster, as it performed well in its phase 3 clinical trial. The drug, a type of BTK inhibitor, showed effectiveness in treating disorders found in B lymphocytes. Sanofi believes the drug has the potential for big future sales and plans to apply for approval soon. In addition, rilzabrutinib's ability to work effectively at lower dosages and with fewer side effects is promising. Sanofi aims to launch the drug for treating immune thrombocytopenia, a blood-clotting disorder, by the end of the year.
May 8, 2024
AstraZeneca and Merck File Lawsuit to Block Imitations of Cancer Medication Lynparza - Report by Bloomberg Law
AstraZeneca and Merck have filed lawsuits against Sandoz and Natco Pharma, claiming that their generic versions of the cancer drug Lynparza infringe on recently issued patents. The lawsuits allege that the copies infringe on US Patent Nos. 11,970,530 and 11,975,001.
May 8, 2024
Merck and other pharmaceutical industry leaders prepare for challenges to top-selling medications - Quartz
Pharmaceutical giants such as Merck, Bristol Myers Squibb, and AbbVie are facing the loss of patents on some of their best-selling drugs. As generic and biosimilar alternatives enter the market, these companies are preparing to offset potential revenue losses. Strategies include filing more patents to delay generic competition, focusing on new drugs in their pipelines, and acquiring smaller biotech startups to outsource research and development.
May 7, 2024
FTC challenges latest Orange Book patents for drugs targeting weight loss, diabetes, asthma, and COPD
The Federal Trade Commission (FTC) has sent warning letters to ten pharmaceutical companies disputing 300 allegedly "improper or inaccurate" patent listings in the FDA Orange Book. The patents in question relate to 20 different brand name drug/device combination products used to treat diabetes, weight loss, asthma, and COPD. This move is part of the FTC's campaign against pharmaceutical manufacturers' improper patent listings and its effort to target so-called "junk" listings for weight loss medications. So far, the FTC has disputed over 400 Orange Book patent listings filed by pharmaceutical companies.
May 7, 2024
Lupin, an Indian pharmaceutical company, falls short of quarterly profit expectations due to increased expenses - ET HealthWorld
Indian generic drugmaker Lupin has reported a smaller-than-expected rise in fourth-quarter profit, due to higher raw material costs. However, the company experienced strong demand for its drugs in the North American and domestic markets. Sales in North America grew by 22.6%, while domestic sales climbed by 8.3% in the quarter. Lupin's profit after tax rose by 52% to 3.59 billion rupees ($43 million).
May 7, 2024
The negative impact of fraudulent patents on the pharmaceutical sector - Pharmaceutical Technology
The US Federal Trade Commission (FTC) has issued a policy statement cracking down on pharmaceutical companies filing sham patents in the Orange Book to delay competition from generic drugs. Sham patents are obtained with deceptive practices or with the intent to hinder competition, rather than to protect genuine innovations. The FTC will scrutinize improper Orange Book patent listings as potential unfair methods of competition in violation of Section 5 of the FTC Act. The move aims to address the impact of sham patents and ensure a more competitive pharmaceutical market.
May 7, 2024
Dr. Reddy's Laboratories experiences a 36 percent increase in fourth-quarter net profit, according to Social News XYZ.
Pharma company Dr Reddy's Laboratories has reported a 36% increase in net profit for the Jan-March quarter compared to the previous year. The company's success has been credited to the performance of its blockbuster cancer drug Revlimid. Dr Reddy's board also declared a final dividend for the financial year 2023-24. Parag Agarwal will retire as CFO effective July 31, 2024, and will be replaced by M V Narasimham from August 1, 2024.
May 7, 2024
AstraZeneca's Attempt to Block Biosimilar of Popular Drug Soliris is Unsuccessful - Reported by Bloomberg Law
A federal judge has ruled that Alexion Pharmaceuticals cannot block a biosimilar version of its drug Soliris for the duration of its patent-infringement lawsuit against Samsung Bioepis. Alexion alleges that Samsung's proposed biosimilar, called SB12, infringes on six patents for Soliris, a $500,000-per-patient treatment for rare blood disorders and nerve diseases. However, the judge denied Alexion's preliminary injunction motion, allowing Samsung to continue with the development and potential launch of its biosimilar.
May 7, 2024
Dr Reddy's anticipates a strong lineup of products in North America for fiscal year 2025, as reported by ThePrint.
Indian generic drugmaker Dr Reddy's Laboratories expects a strong product pipeline in the North American market in the fiscal year 2024-25. The company's Lenalidomide, a generic version of Bristol-Myers Squibb's cancer drug Revlimid, has been a significant contributor to its US sales since its launch in 2022. Other generic drugmakers, including Cipla, Sun Pharma, and Zydus Lifesciences, have also benefited from the rising sales of their own versions of Revlimid. Dr Reddy's reported a fourth-quarter profit that beat expectations, with consolidated net profit rising 36.5% from a year earlier.
May 7, 2024
31% of the newly approved drugs in South Korea last year were specifically designed to treat diabetes.
In Korea, 31% of the drugs approved last year were diabetes treatments, largely due to the expiration of patents for popular products. While global companies like Novo Nordisk and Eli Lilly continue to release innovative diabetes drugs, domestic pharmaceutical companies are criticized for focusing on launching generic complex drugs. The domestic type 2 diabetes treatment market has grown 8% annually over the past five years, reaching about 1.5 trillion won last year. As the global diabetes treatment market continues to grow, there are calls for Korean companies to develop innovative new drugs rather than generics.
May 7, 2024
AstraZeneca plans to exit prominent American pharmaceutical lobby group - Yahoo Movies Canada
AstraZeneca has decided to withdraw from the main U.S. drug lobby group, the Pharmaceutical Research and Manufacturers of America (PhRMA), and will instead explore other avenues for advocacy. The British pharmaceutical company made this decision after a thorough evaluation of resource allocation. AstraZeneca's departure follows similar moves by AbbVie and Teva in the past six months. The company will redirect the funds previously used for PhRMA membership to continue engaging with state and federal policymakers.
May 7, 2024
LEXX Introduces a New Study Initiative to Assess DehydraTECH-GLP-1 Medications
Lexaria Bioscience has announced a partnership with the National Research Council of Canada for an applied research program to evaluate the molecular characteristics of its drug delivery platform, DehydraTECH, processed with the GLP-1 drug semaglutide. The research aims to provide data to assist in the rapid introduction of DehydraTECH with GLP-1 drugs into the pharmaceutical industry. Lexaria believes DehydraTECH could improve the way active pharmaceutical ingredients enter the bloodstream through oral delivery.
May 6, 2024
Is it advisable for physicians to recommend Ozempic for the treatment of heart disease as well? - AFR
The Australian Therapeutic Goods Administration (TGA) has registered Wegovy for use in the country, but it is not yet available. In the meantime, doctors are prescribing Ozempic, a drug with a similar active ingredient, off-label for weight loss. The TGA is currently examining gastrointestinal issues associated with Wegovy, such as pain, reflux, and constipation. Experts predict that the approval of Wegovy in Australia will lead to cheaper prices and the development of new weight loss drugs in the future. However, it is important for patients to combine medication with lifestyle changes for long-term weight loss benefits.
May 6, 2024
Elon Musk Endorses Novo Nordisk's Ozempic as a Childhood Health Solution
Elon Musk has shown support for Novo Nordisk's GLP-1 agonist drug Ozempic, which is primarily used to manage Type 2 diabetes. Musk's endorsement came in response to a post discussing childhood obesity in the U.S. and Japan. His tweet has drawn attention to the issue and the potential role of Ozempic in addressing it. The drug has previously faced criticism for its high cost and controversial off-label use for weight loss.
May 6, 2024
Anticipated in Dr Reddy's Q4: Consistent quarter expected with US sales and contribution from Revlimid
Indian pharmaceutical company Dr. Reddy's Laboratories is expected to announce its Q4 earnings on May 7. Steady sales in the US, boosted by the acquisition of Mayne Pharma and the continued success of blockbuster drug Revlimid, are anticipated to drive strong profit and revenue growth for the quarter. Analysts predict a 35% year-on-year increase in net profit to INR 1,291 crore and a 13% growth in revenue to INR 7,136 crore. The company's performance in the domestic market is also expected to be resilient, despite the divestment of certain brands.
May 6, 2024
Amgen sees a 6% increase in quarterly revenue and surpasses profit expectations from analysts familiar with the matter, according to Yahoo Lifestyle
Biotech company Amgen reported higher quarterly profit due to strong sales of treatments for cholesterol, osteoporosis, and other drugs. Revenue for the second quarter was $6.99 billion, exceeding analysts' estimates. The company slightly raised its outlook for full-year revenue and profit and expects its acquisition of Horizon Therapeutics to close by mid-December. However, Amjevita, Amgen's biosimilar version of AbbVie's arthritis drug Humira, fell short of Wall Street expectations. The company also reported positive results from a mid-stage trial of its experimental drug tarlatamab in patients with advanced lung cancer.
May 6, 2024
Sanofi's bleeding disorder therapy approved by U.S. FDA- Yahoo Movies Canada
The U.S. FDA has approved Sanofi's therapy Altuviiio to treat hemophilia A, a type of inherited bleeding disorder. Altuviiio will be launched in the United States in April. Sanofi's drug will compete with existing factor replacement therapies offered by Takeda Pharmaceutical, Bayer AG, and Novo Nordisk. Analysts predict Altuviiio to be a successful drug in the market, with estimated peak sales of 2.3 billion euros globally. Altuviiio will be priced at parity with the annual cost of treating a prophylaxis patient on Eloctate. Additionally, Altuviiio provides an alternative to Roche's Hemlibra.
May 6, 2024
Lupin, an Indian pharmaceutical company, falls short of quarterly profit expectations due to increasing expenses, reports ThePrint.
Indian generic drugmaker Lupin has reported a smaller-than-expected rise in fourth-quarter profit due to higher raw material costs, despite strong demand for its drugs in North America and domestic markets. The company's total revenue rose 12% to INR49.61bn ($664m), but it fell short of analysts' average estimate of INR5.16bn. Lupin's sales in North America grew 22.6%, and domestic sales climbed 8.3% in the quarter. However, raw material costs jumped 20% and the company incurred an impairment charge of INR2.01bn during the current quarter and year ended March 31.
May 5, 2024
Johnson & Johnson cautions about impact of generic drugs in third quarter, leading to decline in shares - Report by Yahoo News Singapore
Johnson & Johnson has raised its 2019 sales forecast due to strong demand for its cancer drugs, but warned that competition from generic and copycat drugs could impact its third-quarter results. Sales of prostate cancer treatment Zytiga fell 23% due to generic copies, while sales of arthritis drug Remicade fell 16% due to biosimilar rivals. The company also faces lawsuits relating to its talc products, but executives say litigation costs have not affected the latest financial results. Overall, J&J's pharmaceutical sales in the quarter rose 1.7% to $10.53bn, beating analysts' estimates.
May 5, 2024
Federal regulators investigating agreements that delay the entry of generic drugs into the market - AOL.com
The Hatch-Waxman Act aimed to promote generic drug competition by challenging patents on name-brand medications. However, the act has been misused, leading to "pay-for-delay" agreements that hinder the availability of cheaper generic drugs. These deals involve generic companies delaying market entry in exchange for payments from brand-name drug companies.
May 5, 2024
StockWatch: Amgen Shows Support for Obesity Medication
Amgen's executives expressed optimism about the progress of the company's obesity candidate, MariTide (formerly AMG 133), and announced plans to begin Phase III trials. They also revealed the company's decision to halt the development of its small molecule oral obesity candidate, AMG 786. The positive comments from the executives resulted in a 12% increase in Amgen's shares, with analysts predicting the potential for MariTide to become a multi-billion-dollar weight loss blockbuster drug. The news had a negative impact on Novo Nordisk and Eli Lilly, which saw small declines in their stock prices.
May 5, 2024
The US Federal Trade Commission files lawsuit to prevent Amgen's acquisition of Horizon Therapeutics for $27.8 billion.
The U.S. Federal Trade Commission (FTC) has filed a lawsuit to block Amgen's $27.8 billion acquisition of Horizon Therapeutics due to concerns over potential anti-competitive behavior. The FTC fears that Amgen may use its existing drugs to pressure insurance companies and pharmacy benefit managers into giving favorable terms for Horizon's products. This move by the FTC marks a departure from previous approvals of similar deals and highlights a more cautious approach to pharma mergers. Amgen has expressed disappointment with the decision and hopes to complete the transaction by mid-December.
