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Feb 8, 2024
Pharmaceutical industry leaders, as well as former Trump and Obama administration officials, are urging the Biden administration to reconsider a plan that would allow the government to seize patents on drugs when their cost reaches a certain point. Critics argue that the approach misinterprets existing laws and threatens the development of innovative and life-saving drugs. Over 500 comments were filed by the February 6th deadline, with various groups and individuals expressing concerns about the proposed framework.
Feb 8, 2024
AstraZeneca has raised profit expectations for 2024 as revenues from cancer drugs increased by 21% to over $18.4 billion in 2023. Sales of lung cancer drug Tagrisso, leukaemia drug Calquence, and diabetes medication Farxiga contributed to the company's strong performance. The pharmaceutical company also reported high demand for the respiratory syncytial virus vaccine and certain treatments for rare blood disorders. AstraZeneca projects further double-digit growth in 2024, driven by the adoption of its medicines globally. The company's revenue in China also increased by 16% in the final quarter of 2023.
Feb 8, 2024
AstraZeneca's CEO, Pascal Soriot, has stated that while the UK has become a more attractive place to do business, further improvements are needed to boost investment in innovation. Soriot praised the government's tax policies and efforts to facilitate clinical trials but emphasized the need for ongoing progress. AstraZeneca's profits more than doubled in 2023 due to strong sales of cancer treatments, with cancer drug sales accounting for 40% of revenues. However, the company's shares fell as Q4 results did not meet expectations.
Read more about | ASTRAZENECA AB |
Feb 7, 2024
Amgen's experimental obesity drug, AMG 133, has attracted significant attention from analysts and investors. The drug, which targets GLP-1, a gut hormone that regulates insulin secretion and signals satiety, has the potential to compete with weight loss medications from Novo Nordisk and Eli Lilly. Estimates for the GLP-1 drug market have soared, with some predicting total sales to reach $100 billion. AMG 133 has shown promising results in a Phase 1 trial, reducing body weight by up to 15% when given monthly. However, analysts have raised concerns about side effects and lipid measurements.
Read more about | NOVO NORDISK INC | AMGEN INC | LILLY |
Feb 7, 2024
Amgen's experimental drug, AMG 133, which has shown promise as a treatment for obesity, has garnered significant interest from Wall Street analysts. The drug has advanced to the Phase 1 stage of human testing and has demonstrated the ability to reduce body weight by up to 15% in a high dose, with weight loss sustained over several months. However, the drug also has caveats, such as high participant drop-out rates and gastrointestinal side effects. Analysts are particularly interested in how AMG 133 compares to competing weight-loss medications from Novo Nordisk and Eli Lilly.
Read more about | NOVO NORDISK INC | AMGEN INC | LILLY |
Feb 7, 2024
Medicare begins negotiations with drugmakers for cost of 10 expensive medications. Senator Bernie Sanders criticizes high drug prices in US compared to other countries.
Feb 7, 2024
GlobalData analysts suggest that GlaxoSmithKline's (GSK) recent push to expand the label of its respiratory syncytial virus (RSV) vaccine, Arexvy, will strengthen its position against Pfizer in the adult RSV market. GSK submitted applications to both the European Medicines Agency and the FDA to expand the label to cover the prevention of RSV disease in adults aged 50 to 59 years. GSK's filings position them as the first RSV vaccine manufacturer to access this population, but Pfizer is also conducting trials for its rival vaccine, Abrysvo, in high-risk patients.
Read more about | GLAXOSMITHKLINE LLC | PFIZER |
Feb 7, 2024
Merck & Co Inc reported strong fourth-quarter revenue and earnings driven by its cancer drug Keytruda and HPV prevention vaccine Gardasil. However, the company recorded a net quarterly loss due to charges related to a deal with Daiichi Sankyo. Merck's patent for Keytruda is set to expire in 2028, prompting the company to look for new revenue sources in the oncology space. Smaller player Mainz Biomed announced impressive results for its colorectal cancer screening solution ColoAlert® and the opening of its European Oncology Lab. Merck and Moderna have seen promising results from the combined treatment of Keytruda and an experimental cancer vaccine, while Mainz Biomed has revolutionized colorectal cancer screening.
Read more about | DAIICHI SANKYO INC | MERCK |
Feb 6, 2024
Doctors from Puducherry have developed a new drug delivery system for administering drugs to the brain. Using the maxillofacial route, they successfully delivered levodopa to a Parkinson's disease patient during a dental procedure. Patents for this invention have been granted in India, the US, and Australia.
Read more about | LEVODOPA|
Feb 6, 2024
Novartis has agreed to acquire MorphoSys for €2.7 billion ($2.9 billion) as part of its strategy to bolster its drug pipeline through acquisitions. MorphoSys, a German biotech company specializing in cancer treatments, will be purchased for €68 a share in cash. Novartis CEO Vas Narasimhan aims to drive growth following a substantial restructuring of the business, and the acquisition of MorphoSys is his biggest deal since the $9.7 billion takeover of Medicines Co. in 2019.
Read more about | NOVARTIS |