Pharma News
28 Jul 2024 to 03 Aug 2024
Aug 2, 2024
Study finds that regularly taking aspirin may reduce the risk of colorectal cancer
Regular aspirin use may help lower the risk of colorectal cancer, especially for those with unhealthy lifestyles, according to a new study. In other news, the FDA has approved a cutting-edge immunotherapy treatment for rare sarcomas, a shortage of blood culture bottles is causing concern for diagnosing sepsis, and Eli Lilly's weight-loss drug shortage is expected to end soon.
Aug 2, 2024
CEO of Lilly anticipates resolution to weight-loss drug shortage in the near future - Indianapolis Business Journal
Eli Lilly and Co. announced that its weight-loss drug, Zepbound, will be out of shortage in the United States soon, posing a threat to the billion-dollar industry of copycat versions of the drug. The drug, under the name tirzepatide for diabetes and Zepbound for weight management, has been generating significant sales. In addition, Lilly revealed that Zepbound has shown to improve the long-term health of patients with obesity-related heart failure, with a lower risk of death, hospitalization, and other adverse events. The company plans to submit the results to regulators in the US and abroad to expand Zepbound's label.
Aug 2, 2024
Astellas and Pfizer file lawsuit to prevent generic versions of profitable Xtandi medication
Astellas Pharma, Medivation, and University of California are suing Qilu Pharmaceutical for allegedly infringing on patents related to the prostate cancer drug Xtandi. The lawsuit claims that Qilu's generic version of the drug violates two patents. The trial is taking place in the US District Court for the District of New Jersey.
Aug 2, 2024
CEO of Lilly Expresses Optimism Regarding Availability of Weight-Loss Medication in Near Future - Yahoo Finance
Eli Lilly & Co. expects its weight-loss drug Zepbound to come out of shortage in the US soon, threatening the market for copycat versions of the drug. Zepbound, also known as Mounjaro for diabetes treatment, has been on the Food and Drug Administration's shortage list since late 2022. The end of the shortage could impact compounding pharmacies that manufacture weight-loss drugs, as these drugs are not reviewed for safety and effectiveness. Shares of Hims & Hers Health Inc., which sells a compounded version of a competing drug, fell on the news. Eli Lilly's stock rose following a study showing Zepbound's long-term health benefits for patients with obesity-related heart failure.
Aug 2, 2024
The CEO of Lilly anticipates the end of weight-loss drug shortage in the near future, as stated by ET HealthWorld.
U.S. drugmaker Eli Lilly expects its weight-loss drug, tirzepatide, to come out of shortage in the United States soon. The drug, sold as Mounjaro for diabetes and Zepbound for weight management, has been on the FDA's shortage list since late 2022. Eli Lilly and the FDA have not yet commented on the matter. The company anticipates the supply of Zepbound to remain tight in the near and midterm as it increases production capacity. Eli Lilly and Novo Nordisk are both racing to increase production in the lucrative weight-loss drug market.
Aug 2, 2024
Purchase Recommendation Maintained for Apellis Pharmaceuticals' Syfovre, Expected to Achieve Blockbuster Status Despite ...
Healthcare company Apellis Pharmaceuticals has received a Buy rating from Wall Street analyst Douglas Tsao. Tsao cites the success of the company's leading product, Syfovre, in the competitive market for treatments of geographic atrophy. Despite challenges, Syfovre has shown consistent revenue growth and a strong market share. Tsao believes in Apellis' ability to maintain a leadership role in the market, citing Syfovre's efficacy profile and endorsement by retina specialists. The company is also working on reinforcing its market position through direct-to-consumer campaigns. Bank of America Securities also reiterated a Buy rating on the stock.
Aug 1, 2024
According to a report from Bloomberg News, the CEO of Lilly states that the shortage of weight-loss drug will be resolved "very soon.
Eli Lilly CEO, David Ricks, stated that the shortage of the weight-loss drug tirzepatide, sold as Mounjaro and Zepbound, will end "very soon" in the United States. The U.S. Food and Drug Administration's website lists limited supply for some doses of the drug, which has been on the shortage list since late 2022. Eli Lilly and Novo Nordisk are both increasing production in the weight-loss drug market, as demand for GLP-1 agonists rises. Lilly also reported positive outcomes for Zepbound in reducing risk for obese adults with heart failure.
Aug 1, 2024
Prelude announces a fresh collaboration with pharmaceutical company Merck - Delaware Business Times
Pharmaceutical company Prelude Therapeutics has partnered with Merck & Co to evaluate Prelude's leading cancer drug treatment in combination with Merck's immunotherapy drug. The collaboration aims to positively impact clinical outcomes for patients with rare cancers and diseases. Prelude's drug candidate, PRT3789, which treats cancers connected to the SMARCA2 gene, could benefit up to 70,000 patients in the US and EU. Merck is seeking combination treatments for its successful drug Keytruda, to soften the blow of its expiring patent.
Aug 1, 2024
CEO of Lilly Anticipates Weight-Loss Medication Will Be Available Again Shortly, according to Bloomberg Law News.
Pharmaceutical company Eli Lilly & Co. announced that its weight-loss drug, Zepbound, is expected to end its shortage in the US within days, posing a threat to the billion-dollar industry of generic versions of the drug. CEO David Ricks stated that the shortage will be resolved soon, with an expected exit from the shortage process either today or tomorrow.
Aug 1, 2024
Eli Lilly's new drug for weight loss demonstrates potential in reducing the risk of heart failure - report from MedWatch
Lundbeck and Takeda have reached a new agreement, effective from January 2025, that will shift their US collaboration for the antidepressant Trintillix to a royalties-only model. This means that Lundbeck will no longer be responsible for marketing the drug in the US.
Aug 1, 2024
Australia has not granted authorization for the weight loss drug Ozempic to be used for weight loss purposes.
The weight loss drug Ozempic, manufactured by Novo Nordisk, is being promoted for weight reduction in Australia under the trade name Wegovy. While it is exclusively licensed for diabetic therapy in Australia, some diabetics are obtaining it from compounding pharmacies due to restricted access. However, the Therapeutic Goods Administration (TGA) plans to crack down on these pharmacies. The TGA also predicts shortages of Ozempic until 2025 and is considering excluding GLP-1 medications, including Ozempic, from compounding exemptions. People are advised to be cautious when obtaining compounded versions of the drug as they are not tested for safety, quality, or efficacy.
Aug 1, 2024
Biogen exceeds projections and raises future forecasts due to success of Alzheimer's drug Leqembi and other new treatments.
Biogen reported better-than-expected second-quarter earnings and revenue, leading to an increase in its full-year guidance. The company's cost-cutting efforts proved successful, and sales of its breakthrough Alzheimer's drug, Leqembi, along with other new products, surpassed expectations. Biogen hopes that Leqembi and other new products will drive growth as it faces declining demand for its multiple sclerosis therapies. The company also posted strong sales for its newly launched drugs Skyclarys and Zurzuvae.
Aug 1, 2024
Doctors Warn that Medications Such as Wegovy May Lead to the Development of Eating Disorders
Weight loss drugs like Wegovy and Zepbound may trigger eating disorders, according to doctors. Cases of patients developing anorexia nervosa after taking these drugs have been reported, leading to concerns about their safety. However, it was also found that Eli Lilly's weight loss drug Zepbound significantly reduced heart failure risks in patients with obesity-related heart failure. Meanwhile, telehealth company Hims & Hers Health Inc. will release quality reports about knockoff weight-loss drugs starting next month to meet the demand for alternatives due to shortages of brand-name drugs.
Aug 1, 2024
Tirzepatide from Lilly Shows Positive Effects on Heart Failure Results in Precision Medicine Publication
Eli Lilly's diabetes and obesity drug, tirzepatide, has shown positive results in a Phase III trial for adults with heart failure and obesity. The drug met its primary and secondary endpoints, demonstrating a reduction in heart failure hospitalization and an improvement in the Kansas City Cardiomyopathy Questionnaire Clinical Summary Score. tirzepatide-patent-expiration" style="color: #F36C42; font-weight:600";>Tirzepatide, which was approved for diabetes and obesity treatment, has the potential to be used in treating various diabetes and obesity-associated conditions. Eli Lilly plans to submit the trial results to regulatory agencies to expand the drug's indications.
Jul 31, 2024
Shares of GSK drop as sales of top two vaccines do not meet expectations.
British drugmaker GSK has cut its forecast for 2024 vaccine sales after revenue from its shingles and respiratory syncytial virus (RSV) vaccines fell short of expectations. Sales of the RSV vaccine, Arexvy, came in below analysts' forecasts, while sales of the shingles vaccine, Shingrix, were also lower than expected. GSK's shares fell as a result. Despite this, the company raised its full-year sales and profit estimates, with sales of other speciality medicines expected to offset the slower vaccine growth. GSK will share additional data with US agencies regarding the RSV vaccine by the end of the year.
Jul 31, 2024
Merck's revenue boosted to $16.1 billion by Keytruda, however, company lowers its financial forecast
Merck reported a 7% increase in worldwide sales, totaling $16.1 billion in Q2 2024. The company's net income was $5.46 billion, a significant increase from the previous year's Q2 when it reported a net loss. Merck's blockbuster cancer drug Keytruda contributed to nearly half of the company's pharmaceutical sales, with sales of the drug rising 16%. However, despite positive financial metrics, Merck's stock was trading down 8.46% due to a cut in EPS guidance.
Jul 31, 2024
Suzetrigine, a potential blockbuster painkiller from Vertex, to undergo FDA review in the coming year
Vertex Pharmaceuticals' new drug application (NDA) for suzetrigine, a non-opioid treatment for acute pain, has been accepted by the US FDA. The drug has fast track and breakthrough therapy designations and a Prescription Drug User Fee Act target action date of 30 January 2025. Suzetrigine, formerly known as VX-548, targets peripheral pain-sensing neurons and has shown positive results in Phase III trials. Vertex aims to create a new class of pain signal inhibitors as an alternative to opioids. The global pain management market is projected to reach $115bn by 2032.
Jul 31, 2024
Popular vaccine for shingles and respiratory syncytial virus developed by British pharmaceutical company GSK ...
Pharmaceutical company GSK has reported second-quarter sales of $9.95 billion, exceeding analyst estimates. The company saw growth across all areas, with specialty medicines experiencing a 20% increase in sales. However, vaccine sales were below expectations, with a 1% decrease in sales at constant currency. GSK has also raised its guidance for future earnings and revenue growth.
Jul 31, 2024
13 out of the top 20 biopharmaceutical companies experienced revenue growth in 2023 due to successful obesity drugs.
Novo Nordisk, CSL, and Eli Lilly experienced significant revenue growth in 2023, driven by the success of their obesity drugs. Novo Nordisk's revenue grew by 31.3% to $33.7 billion, while Lilly's revenue grew to $34.1 billion. Novartis, AstraZeneca, and Johnson & Johnson also saw positive revenue growth. However, the overall aggregate revenue for the biopharmaceutical industry declined by 1.6% to $816 billion. Pfizer recorded the largest revenue decline of 47.7% due to decreased demand for its Covid-19 products.
Jul 31, 2024
GSK stock declines due to underperformance in sales of its top two vaccines, reports PharmaLive
British drugmaker GSK cut its forecast for 2024 vaccine sales after disappointing quarterly revenue from its shingles and respiratory syncytial virus (RSV) jabs. CEO Emma Walmsley's focus on infectious disease drugs and vaccines has been successful, but second-quarter sales of the RSV vaccine Arexvy came in below analysts' expectations.
Jul 31, 2024
GSK stock declines as top two vaccines' sales underperform - AOL.com
GSK, the British drugmaker, has reduced its forecast for vaccine sales in 2024 after its shingles and respiratory syncytial virus (RSV) jabs failed to meet quarterly revenue expectations. Sales of the RSV vaccine Arexvy came in below analysts' forecasts, while sales of the shingles vaccine Shingrix also fell short of market expectations. GSK's shares fell as a result. The company did, however, beat second-quarter results forecasts and raised its full-year sales and profit estimates. GSK will share additional data on its RSV vaccine with US agencies by the end of the year.
Jul 31, 2024
Durbin and Cassidy Propose Bill to Reduce Drug Costs Through Encouraging Generic Competition
U.S. Senate Majority Whip Dick Durbin and Senator Bill Cassidy have introduced a bipartisan bill called the REMEDY Act, which aims to lower drug prices and promote generic competition. The legislation is intended to remove barriers to FDA approval for lower-cost generic drugs and crack down on pharmaceutical monopolies that use additional patents to extend their monopolies on brand-name drugs. The bill has been endorsed by AARP, Patients for Affordable Drugs Now, and the Campaign for Sustainable Rx Pricing.
Jul 31, 2024
The Growth of Biosimilars: Insights from the Success of Humira in Drug Patents and Exclusivity in the Pharmaceutical Industry as featured in Contract Pharma
AbbVie is facing a significant decline in sales as nine biosimilars entered the market in 2023, competing with its drug Humira, which had a net revenue of $18.6 billion in the US in 2022. This case study highlights the impact of losing exclusivity on a major pharmaceutical company. Regulatory changes and proposals aimed at facilitating generic and biosimilar competition, such as the European Commission's reform and the pharma patent reform bill in the US, are expected to further impact intellectual property rights in the industry.
Jul 30, 2024
Merck exceeds profit projections and boosts sales forecast due to high demand for key medications
Merck reported second-quarter revenue and adjusted earnings that exceeded expectations, driven by strong sales of its cancer drug Keytruda and other treatments in its oncology and vaccines portfolios. The company also raised its full-year sales forecast, but lowered its adjusted profit guidance. Shares of Merck fell as investors expressed disappointment over weaker-than-expected sales of the vaccine Gardasil, citing shipment issues in China. Nevertheless, Merck's overall results were boosted by increased demand for key products, including its oncology treatments.
Jul 30, 2024
Merck Reduces Earnings Outlook Following EyeBio Purchase
Pharmaceutical company Merck & Co revised its full-year earnings forecast downwards due to charges from acquiring EyeBio. The company now expects 2024 earnings to be between $7.94 and $8.04 per share. Despite this, Merck increased its full-year sales projections and reported strong growth in its blockbuster cancer drug Keytruda. Merck's shares declined by nearly 2% following the announcement.
Jul 30, 2024
The diabetes drug by Novo demonstrates varying outcomes in Alzheimer's disease, reports BNN Bloomberg
Novo Nordisk’s diabetes drug Victoza showed mixed results in a mid-stage study for Alzheimer’s disease. While it failed to meet its primary goal of improving brain metabolism, there were signs of cognitive benefits, suggesting that GLP-1 drugs could have potential for Alzheimer’s treatment. Novo is studying a newer GLP-1 pill for diabetes in final-stage trials, with results expected in September 2025. Analysts see this as a significant opportunity for GLP-1s, not only for Alzheimer’s patients but also for preventive use.
Jul 30, 2024
Merck reduces its yearly profit outlook according to The Business Times
Pharmaceutical company Merck has revised its full-year earnings forecast following one-time charges from its acquisition of EyeBio. The company now expects 2024 earnings of $7.94 to $8.04 per share, down from its earlier forecast of $8.53 to $8.65, as it took a $1.3 billion charge related to the acquisition. However, Merck slightly raised its full-year sales projections and beat second-quarter results thanks to strong growth of its cancer immunotherapy Keytruda.
Jul 30, 2024
Ozempic reduces appetite, not just for food, study finds - Medscape
A new study appearing in the Annals of Internal Medicine suggests that the diabetes drug Ozempic (a GLP-1 receptor agonist) may help reduce smoking. Although not a randomized trial, the study found that individuals with diabetes who took Ozempic were about 30% more likely to quit smoking compared to those who took insulin. This supports the emerging idea that GLP-1 receptor agonists have effects beyond curbing appetite and may modulate the brain's reward circuitry to help break bad habits.
Jul 30, 2024
Pharmaceutical Company's Stock Lowers Earnings Projections: Investors Still See Opportunity to Buy - sharewise
Pharmaceutical company Merck & Co. reported higher-than-expected revenue and earnings for Q2 2024, driven by strong sales of its oncology drug Keytruda. However, the company lowered its profit outlook for the year due to a one-time charge related to an acquisition. Merck is expected to face biosimilar competition for Keytruda in 2028, highlighting the need for new revenue streams. The company is focusing on drugs like Winrevair for pulmonary arterial hypertension and its pipeline of 80 candidates. Despite a dip in stock price, Merck offers good value and growth potential.
Jul 30, 2024
Analyst expresses confidence in the effectiveness of NewAmsterdam Pharma's cholesterol drug, despite receiving varied feedback.
NewAmsterdam Pharma's Phase 3 BROOKLYN trial evaluating obicetrapib in HeFH patients with inadequate LDL-C control has met its primary endpoint, showing a significant reduction in LDL-C levels compared to placebo. The drug was well-tolerated with no increase in blood pressure, and reductions in other biomarkers also met statistical significance. However, despite these positive results, the company's stock experienced a drop. Investors are still debating the implications of the trial for ongoing studies of obicetrapib.
Jul 29, 2024
GSK and Flagship establish a major drug discovery agreement worth billions - Article from The Business Times
GlaxoSmithKline (GSK) and biotech venture capital firm Flagship Pioneering have partnered to develop 10 new drugs, with GSK committing up to $720 million for each drug if they meet development and commercial milestones. This deal is part of GSK's efforts to expand its product portfolio in the respiratory and immunology fields. The partnership comes after GSK's recent acquisition of biotech company Aiolos Bio.
Jul 29, 2024
High demand and rising prices result in counterfeit Ozempic medications being circulated, reports Al Jazeera.
Counterfeit versions of weight loss drug Ozempic have led to a number of hospitalisations around the world. The drug, made by Danish pharmaceutical company Novo Nordisk, has seen a rise in demand and a high price tag, leading to the production of counterfeit versions. Recent seizures by US Customs and Border Protection have highlighted the issue, while consumers have also turned to buying the drug from online pharmacies without a doctor's consultation. The company charges Americans an average of $936 for a month's supply, more than five times the price of other countries.
Jul 29, 2024
USFDA inspection affects drug clearance for domestic pharmaceutical firms in the US | News from Delhi
Regulatory scrutiny in the US has resulted in a decrease in approvals for new drugs from domestic generic pharmaceutical companies. The first quarter of FY25 saw the lowest levels of approvals for major companies in the last eight quarters. Cipla, Sun Pharma, Aurobindo Pharma, Dr Reddy's, Lupin, and other big players continue to face regulatory issues, impacting their ability to secure approvals. The US market is crucial for these companies as it provides access and boosts revenues.
