Feb 16, 2024
Alvotech announced settlements with Johnson & Johnson that will enable the launch of its biosimilar to J&J's Stelara, called AVT04, in Japan, Canada, and the European Economic Area this year. The biosimilar has been approved by regulatory authorities in these areas. Alvotech aims to introduce AVT04 in Canada during the first quarter of this year, followed by Japan in May and the European markets after Stelara's European supplementary protection certificate expires in late July. In the US, Alvotech and Teva are cleared to launch the biosimilar no later than Feb. 21, 2025, pending FDA approval.
Read more about | TEVA |
Feb 15, 2024
Alkermes, a "pure-play neuroscience company," is heavily relying on the success of its new schizophrenia and bipolar disorder drug, Lybalvi. The drug's sales have been increasing steadily, with a 61% year-over-year growth. Alkermes projects sales of Lybalvi to reach between $275 million to $295 million in 2024. However, the approval of Karuna Therapeutics' drug KarXT poses a threat. Despite this, Alkermes' stock price rose by 10% due to positive investor sentiment. The company also reported a net income of $113 million in the fourth quarter, largely driven by Lybalvi sales.
Read more about | ALKERMES INC | LYBALVI|
Feb 15, 2024
Alvotech has reached settlement agreements with Johnson & Johnson to launch a biosimilar of the psoriasis drug Stelara in Japan, Canada, and Europe this year. The biosimilar will be marketed as Ustekinumab BS (F) in Japan, sold by Alvotech's partner JAMP Pharma in Canada, and sold by STADA Arzneimittel under the name Uzpruvo in select European countries. Stelara's key patents began to expire last year, allowing competitors to enter the market. Alvotech and Teva Pharmaceutical also reached a settlement and licensing agreement with J&J for the biosimilar launch in the U.S. pending FDA approval.
Read more about | TEVA PHARMS |
Feb 15, 2024
Pfizer has agreed to pay $93 million to settle an antitrust lawsuit accusing the company of conspiring to delay sales of generic versions of the cholesterol drug Lipitor. The settlement comes after over a decade of litigation brought by drug distributors. Despite the settlement, Pfizer denies any wrongdoing. The settlement awaits a judge's approval. The case against pharmaceutical company Ranbaxy Laboratories is still ongoing. Lipitor, patented in 1997, generated over $130 billion in sales for Pfizer. The Supreme Court had previously rejected Pfizer's appeals to block lawsuits over its Lipitor patent settlements.
Read more about | PFIZER |
Feb 15, 2024
A 16-year-old boy in California experienced significant weight loss and health improvements after taking the weight loss drug Wegovy, manufactured by Novo Nordisk. Despite initial concerns about side effects, the boy's pediatrician deemed the risks of obesity-related health issues to be more significant. Wegovy is increasingly being prescribed to adolescents in the US to address pediatric obesity, but some medical experts are urging caution due to a lack of long-term evidence on the drug's effects on younger patients.
Read more about | NOVO NORDISK INC | WEGOVY|
Feb 15, 2024
Cancer test firm Freenome has raised $254 million in funding from Roche to develop tests that can detect multiple early-stage cancers. Eli Lilly's weight-loss drug Mounjaro has been launched in Britain, making it the fourth European country to introduce the drug. A study from the United States found that telemedicine abortion, where abortion pills are sent to pregnant women after video call or text message consultations, is as safe and effective as in-person care. GSK has completed the acquisition of Aiolos Bio for up to $1.4 billion. Ukraine has legalized the medical use of cannabis. Pfizer has agreed to pay $93 million to settle antitrust claims related to its cholesterol drug Lipitor. Alvotech has reached settlement agreements with Johnson & Johnson to launch a biosimilar of the psoriasis drug Stelara in Japan, Canada, and Europe. The FDA has classified Philips' recall of medical imaging machines as most serious due to the risk of a faulty component falling on patients during scans. The use of Novo Nordisk's weight-loss drug Wegovy has sharply risen among U.S. youth to address pediatric obesity.
Feb 15, 2024
Blueprint Medicines has reported strong financial results for 2023, driven by the success of its rare-disease treatment Ayvakit. The drug generated $71 million in sales in the fourth quarter and showcased a 31% sequential growth. The company anticipates continued growth in 2024, with global net product revenue expected to reach between $360 million and $390 million. Blueprint Medicines is also focusing on expanding Ayvakit's commercial reach and investing in its pipeline opportunities. The company's scientific endeavors, including presentations on Ayvakit's safety and efficacy, further bolster its position in the market.
Feb 15, 2024
Blueprint Medicines has increased its peak sales estimate for rare disease drug Ayvakit to $2 billion, following better-than-expected Q4 results. The company reported sales of $71 million in the quarter, beating forecasts by 8%. The revenue increase was driven by the expansion of Ayvakit into indolent systemic mastocytosis, for which it gained FDA approval in May 2023. Blueprint expects Ayvakit revenue to be in the range of $360 million to $390 million in 2024.Blueprint also revealed it is looking for a US partner for Roche-returned Gavreto.
Feb 15, 2024
Alvotech has reached settlement agreements with Johnson & Johnson to launch a biosimilar of the blockbuster psoriasis drug Stelara in Japan, Canada, and Europe this year. The biosimilar, Ustekinumab BS (F), will enter the Canadian market in Q1 and Japan in May, with entry into European markets expected after July. The patent for Stelara began to expire last year. Alvotech previously reached a settlement and licensing agreement with J&J for the launch of another biosimilar, AVT04, in the US by February 2025. Amgen is set to launch its own biosimilar, Wezlana, next year.
Read more about | AMGEN INC |
Feb 14, 2024
Biogen is projecting flat product revenue for 2024 due to competition and sluggish sales. However, the company is hopeful about its new Alzheimer's drug, Leqembi, which could boost revenue. Biogen's adjusted profit forecast for 2024 falls short of expectations, and its Q4 revenue and profit decreased compared to the previous year. The company plans to bolster Leqembi's sales by increasing its U.S. sales force. While Biogen is optimistic about returning to profit growth in 2024, its shares fell after missing Wall Street's estimates for Q4 results.
Read more about | BIOGEN INC |