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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 |
Feb 6, 2024
Senator Bernie Sanders has released a report highlighting the vast price differences of three blockbuster drugs between the US and other countries. Bristol Myers Squibb's Eliquis, Johnson & Johnson's Stelara, and Merck's Keytruda have significantly higher annual list prices in the US compared to Japan, Canada, Germany, the UK, and France. The report comes ahead of a hearing in which the CEOs of the three pharmaceutical companies will testify. Medicare has initiated negotiations with drugmakers for the cost of certain medications, aiming to address the disparity in drug pricing between countries.
Feb 6, 2024
Eli Lilly's new weight loss drug, Zepbound, has exceeded expectations, contributing to the company's strong fourth-quarter revenue and adjusted earnings. Zepbound, approved by US regulators in November, generated $175.8 million in sales. Analysts predict it could become the biggest drug of all time, potentially surpassing a billion dollars in sales in its first year. Despite supply shortages and side effects, weight loss drugs have seen increased popularity. Eli Lilly's full-year forecast for 2024 aligns with expectations, with projected revenue of $40.4 billion to $41.6 billion.
Read more about | LILLY | ZEPBOUND|
Feb 6, 2024
Eli Lilly reported better-than-expected Q4 revenue and adjusted earnings, driven by strong sales of its weight loss drug, Zepbound, and higher prices for its diabetes treatment, Mounjaro. Zepbound, approved by the FDA in November, generated $175.8 million in sales for the quarter. Eli Lilly expects Zepbound to become the biggest drug of all time and forecasts full-year adjusted earnings of $12.20 to $12.70 per share. The company also anticipates demand for its incretin drugs, including Mounjaro and Zepbound, to outpace supply in 2024.
Read more about | LILLY | ZEPBOUND| MOUNJARO|
Feb 6, 2024
Eli Lilly, the largest pharmaceutical company in the US, has reported fourth-quarter earnings per share of $2.49, beating Wall Street estimates and driven by strong sales of its new weight loss drug, Zepbound. The drug brought in $175.8 million in sales during the quarter and is expected to generate over $1 billion in sales in its first year. Additionally, Eli Lilly's blockbuster diabetes drug, Mounjaro, also contributed to the company's strong performance with sales of $2.21 billion. However, the company is struggling to keep up with the demand for both drugs.
Read more about | LILLY | ZEPBOUND| MOUNJARO|
Feb 6, 2024
Johnson & Johnson announced a new partnership with Pfizer to develop a COVID-19 treatment. The drug will use a combination of J&J's antiviral drug and Pfizer's mRNA-based vaccine technology. The collaboration aims to create an effective treatment against emerging variants and provide an additional option for patients worldwide.
Read more about | PFIZER |