Pharma News
14 Jul 2024 to 20 Jul 2024
Jul 20, 2024
Senators Successfully Negotiate Drug Patent Litigation Legislation with Fellow Lawmakers - JD Supra
The U.S. Senate has passed S.150, the Affordable Prescriptions for Patients Act, which aims to address what the Senators believe is anticompetitive behavior by branded drug and biologics manufacturers. The bill proposes amendments to the Patent Act and the Biologics Price Competition and Innovation Act (BPCIA), including limiting the number of patents that can be asserted in an infringement action by a reference product sponsor and empowering courts to increase the number of patents asserted under certain circumstances. However, critics argue that there are more effective ways to address high drug prices than blaming patents and pharmaceutical companies.
Jul 19, 2024
Boehringer and GoodRx collaborate to provide a cheaper alternative to Humira, offered at a significant discount - PharmaLive
German drugmaker Boehringer Ingelheim has partnered with GoodRx to offer a close copy version of AbbVie's arthritis drug Humira at a 92% discount on the GoodRx website. The biosimilar will be available in both high- and low-concentration versions for $550 per two-pack. Humira, which typically costs around $7,000 a month, is facing competition from various biosimilars in the market.
Jul 18, 2024
Boehringer and GoodRx Collaborate to Provide a Competitor to Humira at a Discount of 92% - WTAQ
German drugmaker Boehringer Ingelheim will offer a biosimilar version of AbbVie's blockbuster arthritis drug Humira at a 92% discount on the GoodRx website, according to a joint statement by the companies. The biosimilar will be available at an exclusive cost of $550 per two-pack and will be accessible to US residents with a valid prescription, regardless of their insurance status. Despite the availability of biosimilars, Humira has retained its patient base, partly due to the lack of incentive for doctors to switch to alternatives.
Jul 18, 2024
ICER draft report recommends significant discount for Pfizer's ATTR heart disease drug
The Institute for Clinical and Economic Review (ICER) has published a draft report suggesting that Pfizer's drug tafamidis, sold under the brands Vyndaqel and Vyndamax, needs at least a 96% discount off its current list price to be considered cost-effective for the treatment of transthyretin amyloid cardiomyopathy (ATTR-CM). The report states that tafamidis should cost between $5,200 and $10,400 per year, far below its current price of nearly $268,000. ICER plans to publish the final report in October after public comments and discussions.
Jul 18, 2024
Johnson & Johnson's Q2 Profits Soar Thanks to Strong Performance in Pharmaceutical Sector
Johnson & Johnson (J&J) reported better-than-expected Q2 profit and revenue, driven by strong sales of drugs such as Darzalex and Stelara. However, J&J anticipates a decline in Stelara sales in 2025 due to competition from biosimilars. The company aims to finalize contracts for favorable US insurance coverage for Stelara in 2025. Despite the upcoming competition, J&J expects growth in its pharmaceutical business. J&J's total revenue of $22.4 billion exceeded estimates, and its sales forecast for 2024 was raised. The company also lowered its annual per-share forecast, citing costs related to recent deals and legal issues surrounding talc products.
Jul 18, 2024
Novartis increases its 2024 profit outlook due to strong demand for new high-performing medications - Swissinfo
Pharmaceutical company Novartis has raised its profit forecast for 2024 due to strong demand for its new blockbuster drugs, despite disappointing sales of its prostate cancer drug Pluvicto. Despite the setback, Novartis CEO Vasant Narasimhan remains confident in the drug's long-term success, noting that approval for a new group of patients could triple its potential treatment population. The company is also focused on innovation and is not pursuing near-term deals for GLP-1 obesity drugs. Novartis is on track to meet its sales and margin targets through 2028 and sees excellent growth in China and the US.
Jul 18, 2024
Alnylam Stock Shows High Potential in the Biopharmaceutical Industry according to TradingView
Biopharmaceutical company Alnylam Pharmaceuticals is hoping for FDA approval for its RNA interference drug vutrisiran, marketed as Amvuttra, to treat transthyretin amyloidosis with cardiomyopathy. Positive Phase 3 trial results showed a significant reduction in mortality and cardiovascular events. If approved, Amvuttra could launch in early 2025 and potentially become a blockbuster drug for the company. Alnylam is known for its RNA interference therapies, with four drugs already on the market.
Jul 18, 2024
J&J exceeds expectations from financial analysts with robust drug sales, generating $22.4 billion in revenue during the second quarter.
Johnson & Johnson reported better-than-expected second-quarter revenue, driven by strong sales of its drugs, including cancer drug Darzalex and psoriasis drug Stelara. The company's total sales forecast for 2024 was also raised. However, J&J lowered its annual per-share forecast and expects competition for Stelara to increase in the coming years. Sales of its medical technology business fell short of estimates, and the supply of its cancer cell therapy, Carvykti, has been limited due to tight supply. J&J aims to increase production capacity for Carvykti.
Jul 18, 2024
Changes aimed at addressing the issue of "patent thickets" have the potential to accelerate the availability of more affordable medications
The Affordable Prescriptions for Patients Act of 2023 (S.150) has been fast-tracked and passed the Senate by unanimous consent. The bill aims to lower drug costs by addressing the issue of "patent thickets," which are used by brand name drug makers to delay the entry of lower-cost products. The US Patent and Trademark Office (USPTO) has also proposed a rule to combat patent thickets and increase access to lower-cost medicine. These efforts would simplify the path to market for generic and biosimilar drugs and potentially reduce healthcare costs.
Jul 18, 2024
Boehringer and GoodRx collaborate to provide a cheaper alternative to Humira, with a significant 92% discount - as reported by TradingView.
German drugmaker Boehringer Ingelheim will offer a biosimilar version of AbbVie's blockbuster arthritis drug Humira at a 92% discount on the GoodRx website, according to digital healthcare platform GoodRx. The biosimilar will be available for $550 per two-pack and can be purchased by US residents with a valid prescription, regardless of insurance status. Despite nine biosimilars being launched in the US last year, AbbVie's Humira has maintained most of its market share.
Jul 17, 2024
Johnson & Johnson exceeds expectations from financial analysts by reporting strong sales in pharmaceuticals.
Johnson & Johnson has reported better-than-expected second-quarter profits and revenue, driven by strong sales of its drugs, including cancer treatment Darzalex and psoriasis drug Stelara. Stelara is predicted to generate $10 billion in sales this year but may drop to $7 billion in 2025 due to competition from six similar drugs. The pharmaceutical company expects growth in its pharmaceutical business despite the biosimilar competition, and it plans to secure favourable US insurance coverage for Stelara in 2025. The revenue forecast for 2024 has been revised upwards to between $89.2 billion and $89.6 billion.
Jul 17, 2024
Darzalex from Johnson & Johnson contributed to increased revenue for the pharmaceutical company in the second quarter - Quartz
Johnson & Johnson reported that sales of its cancer drug Darzalex helped the company surpass Wall Street expectations in the second quarter. Sales of Darzalex increased by 18% to $2.87 billion, almost matching the sales of the company's best-selling drug Stelara. This news is particularly positive for the company as the patent on Stelara is set to expire next year. Sales of the company's COVID-19 vaccine fell by nearly 40% year over year to $285 million in the same period. Johnson & Johnson adjusted their 2024 earnings outlook due to anticipated impacts from recent acquisitions.
Jul 17, 2024
Bayer's Nubeqa secures second victory in treating prostate cancer subtype, on track for blockbuster status
Bayer's androgen receptor inhibitor, Nubeqa, has shown positive results in a pivotal trial for the treatment of metastatic hormone-sensitive prostate cancer. The phase 3 ARANOTE trial demonstrated that Nubeqa, in combination with androgen deprivation therapy, significantly extended the time before tumor progression or death compared to ADT alone. Bayer plans to submit these data for potential approvals globally, bringing Nubeqa closer to its target of over €3 billion in peak sales. Nubeqa's success is significant as not all patients can tolerate chemotherapy.
Jul 17, 2024
J&J's second-quarter earnings exceed expectations from Wall Street due to robust sales of pharmaceutical products.
Johnson & Johnson reported better-than-expected second-quarter profit and revenue, driven by strong sales of its drugs including cancer treatment Darzalex and blockbuster psoriasis drug Stelara. Stelara sales rose 3.1% to $2.89 billion, while Darzalex sales rose 18.4% to $2.88 billion. J&J expects total 2024 sales of $89.2 billion to $89.6 billion and lowered its annual per-share forecast. Analysts predict Stelara sales of more than $10 billion this year, but it could drop to around $7 billion in 2025 due to competition from biosimilars.
Jul 17, 2024
Johnson & Johnson surpasses expectations in Q2 due to robust pharmaceutical sales - Devdiscourse
Johnson & Johnson reported better-than-expected second-quarter profits and revenues, largely due to strong sales of its cancer treatment Darzalex and the psoriasis drug Stelara. The company revised its sales forecast for 2024 and adjusted its earnings forecast, taking into account the costs of recent acquisitions. While its medical technology business revenue fell slightly short of expectations, J&J remains optimistic about future growth despite potential competition for Stelara and supply constraints for Carvykti, its cancer cell therapy.
Jul 17, 2024
J&J surpasses expectations from financial analysts with robust drug sales in anticipation of competition for Stelara
Johnson & Johnson (J&J) reported better-than-expected second-quarter profit and revenue, driven by strong sales of its drugs, including cancer treatment Darzalex and psoriasis drug Stelara. However, the arrival of several close copies of Stelara in the US market in 2025 is expected to impact its revenue, with estimates suggesting a drop from over $10 billion to around $7 billion. J&J is working on securing favorable insurance coverage for Stelara to mitigate the impact of biosimilar competition.
Jul 16, 2024
India Set for Weight-Loss Revolution as Patents for GLP-1 to Expire in 2026, Reports Trak.in
Indian pharmaceutical companies are gearing up to enter the obesity treatment market as patents for popular drugs like Ozempic and Wegovy are set to expire. With the prevalence of obesity and related conditions increasing in India, the government plans to offer incentives for local manufacturing of GLP-1 drugs, used for diabetes and obesity treatment. Several Indian drugmakers have applied for the production-linked incentive scheme, and once the patents expire, the government will begin providing incentives. The market for anti-obesity drugs in India is estimated to be worth Rs 500 crore, highlighting the urgent need for innovative treatments.
Jul 16, 2024
Tirzepatide weight loss drug receives approval in India: Understanding its mechanism of action
The Central Drug Standard Control Organisation in India has approved Eli Lilly's tirzepatide, the active ingredient in their drugs Mounjaro and Zepbound, for the treatment of type 2 diabetes. Tirzepatide is a dual glucose-dependent insulinotropic polypeptide (GIP) and glucagon-like peptide-1 (GLP-1) receptor agonist that helps regulate blood sugar levels. Eli Lilly expects to launch Mounjaro in India by 2025.
Jul 16, 2024
Positive Outcomes: Ozempic, a diabetes medication, may reduce the chances of developing dementia and tobacco addiction
Novo Nordisk's Ozempic diabetes drug could help lower the risk of dementia and other mental health problems compared to existing treatments, according to an analysis by the University of Oxford. The drug also reduced nicotine dependence in patients with diabetes. Previous studies have already demonstrated that Ozempic can reduce the risk of kidney disease and cardiovascular complications. The findings highlight the potential additional health benefits of the drug.
Jul 16, 2024
Cardurion secures $260M in Series B financing to advance its cardiovascular pipeline
Cardurion Pharmaceuticals has completed a $260 million Series B financing, which will be used to advance its pipeline of cardiovascular drugs. The funding will also support the acquisition of additional therapeutic assets addressing unmet needs in cardiovascular disease. Cardurion's pipeline includes CRD-750, a phosphodiesterase-9 (PDE9) inhibitor for chronic heart failure, and CRD-4730, a calcium/calmodulin-dependent protein kinase II (CaMKII) inhibitor. Both candidates are under study in three Phase II trials, with data readouts expected in 2026. The funding round was led by Ascenta Capital, with participation from new and existing investors.
Jul 15, 2024
RBC raises Genmab rating to 'outperform' due to positive outlook on drug pipeline - TradingView
RBC has upgraded Genmab to "outperform" due to its blockbuster drug potential and appealing risk-reward profile. The Danish biotech company has a diverse portfolio beyond its cancer therapy Darzalex, including Epkinly for blood cancer. RBC predicts Epkinly could generate $1.5 billion in sales in the US alone and $3.5 billion globally. Despite potential earnings dip after 2029, with seven other drugs on the market, Genmab is expected to remain profitable. While Darzalex royalties will cease in the next decade, RBC believes Genmab stock offers more rewards than risks, supported by positive analyst ratings.
Jul 15, 2024
Analyst: Big Pharma companies including Amgen, BMS, and Merck at risk due to $183B patent cliff
Pharmaceutical companies are facing looming patent cliffs, but have the capacity for M&A as conditions are favorable, according to analysts at Morgan Stanley. They estimate that drugs losing exclusivity through 2030 generate $183.5 billion in annual sales. Meanwhile, Big Pharma has $383.1 billion available for dealmaking, with Johnson & Johnson, Merck, and Novo Nordisk having the most financial firepower. Companies like Amgen, Bristol Myers Squibb, and Merck face the most revenue exposure from patent expirations. However, many companies have already taken steps to address the patent cliff through acquisitions.
