Biotech and Pharmaceuticals
CVS posts big earnings miss, cuts profit outlook on higher medical costs
A person walks by a CVS Pharmacy store in Manhattan, New York, on Nov. 15, 2021. Andrew Kelly | Reuters CVS Health on Wednesday reported first-quarter revenue and adjusted earnings that missed expectations and slashed its full-year profit outlook, citing higher medical costs that are dogging the U.S. insurance industry. Shares of the company dropped […]
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Citi names 3 biotech stocks to play a expanding $2.9 billion chance — supplying a person about 50% upside
The outlook is beginning to search dazzling for biotech shares, according to some. With markets now anticipating the initially level reduce to be in September instead than June or July, as beforehand assumed, biotech shares could begin to do effectively. Before this thirty day period, Morgan Stanley analysts famous that biotech stocks outperform in the […]
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FTC challenges ‘junk’ patents held by 10 drugmakers, including for Novo Nordisk’s Ozempic
A box of Ozempic and contents sit on a table in Dudley, North Tyneside, Britain, October 31, 2023. Lee Smith | Reuters The Federal Trade Commission on Tuesday said it is challenging hundreds of alleged “junk” patents held by pharmaceutical companies for 20 brand-name drugs, including Novo Nordisk’s blockbuster drugs Ozempic, Saxenda and Victoza. The […]
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Eli Lilly beats on quarterly profit, hikes full-year guidance on strong sales of Zepbound, Mounjaro
Eli Lilly logo is shown on one of the company’s offices in San Diego, California, U.S., September 17, 2020. Mike Blake | Reuters Eli Lilly on Tuesday reported first-quarter adjusted profit that topped Wall Street’s expectations and hiked its full-year guidance on strong sales of its blockbuster diabetes drug Mounjaro and newly launched weight loss […]
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Walmart to shutter health centers, virtual care service in latest failed push into health care
Walmart on Tuesday said it will close all of its health-care clinics across the country, a stunning reversal of its plans to bring its low-priced reputation to the dentist and doctor’s office along with the grocery aisle. The big-box retailer said it would also shutter its telehealth provider, which it acquired for an undisclosed amount […]
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Judge rejects J&J, Bristol Myers Squibb challenges to Medicare drug-price negotiations
Jonathan Raa | Nurphoto | Getty Images A federal judge in New Jersey on Monday rejected Johnson & Johnson‘s and Bristol Myers Squibb‘s legal challenges to the Biden administration’s Medicare drug-price negotiations, ruling that the program is constitutional. The decision is another win for the White House in a bitter legal fight with several drugmakers […]
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A CVS pharmacy in Vegas becomes first to join new national pharmacy union
The CVS pharmacy logo is displayed on a sign above a CVS Health Corp. store in Las Vegas, Nevada on February 7, 2024. Patrick T. Fallon | AFP | Getty Images A CVS in Las Vegas has become the first location to join a new national pharmacy union, a milestone as organizers try to help […]
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FDA approves Pfizer’s first gene therapy for rare inherited bleeding disorder
Pavlo Gonchar | Lightrocket | Getty Images The Food and Drug Administration on Friday approved Pfizer‘s treatment for a rare genetic bleeding disorder, making it the company’s first-ever gene therapy to win clearance in the U.S. The agency greenlit the drug, which will be marketed as Beqvez, for adults with moderate to severe hemophilia B […]
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Bristol Myers Squibb beats on revenue, launches $1.5 billion cost cuts as it posts quarterly loss
The Bristol Myers Squibb research and development center at Cambridge Crossing in Cambridge, Massachusetts, on Dec. 27, 2023. Adam Glanzman | Bloomberg | Getty Images Bristol Myers Squibb on Thursday reported first-quarter revenue that topped expectations as its blockbuster blood thinner Eliquis and several new drugs posted sales growth. But the pharmaceutical company swung to […]
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Merck beats earnings expectations, raises outlook on strong Keytruda and vaccine sales
Exterior view of the entrance to Merck headquarters on February 05, 2024 in Rahway, New Jersey. Spencer Platt | Getty Images Merck on Thursday reported first-quarter revenue and adjusted earnings that topped expectations as it posted strong sales of its blockbuster cancer drug Keytruda and vaccine products. The pharmaceutical giant also raised and narrowed its […]
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