Biotech and Pharmaceuticals
Pfizer struggles to claw back faith with Wall Street and its employees as it recovers from the Covid decline
Kena Betancur | Corbis News | Getty Images Pfizer had a “phenomenal” first quarter — and Wall Street took notice, CEO Albert Bourla told thousands of employees during a companywide town hall on May 2, according to a recording heard by CNBC. A day earlier, the pharmaceutical giant’s stock had closed 6% higher after its […]
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Supreme Court blocks Purdue Pharma opioid settlement, threatening billions of dollars for victims
WASHINGTON — The Supreme Court on Thursday blew up the massive bankruptcy reorganization of opioid maker Purdue Pharma, finding that the settlement inappropriately included legal protections for the Sackler family, meaning that billions of dollars secured for victims is now threatened. The court on a 5-4 vote on nonideological lines ruled that the bankruptcy court did […]
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Walgreens slashes profit guidance, citing ‘challenging’ environment for consumers and pharmacies
A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, in Manhattan, New York City, on Nov. 26, 2021. Andrew Kelly | Reuters Walgreens on Thursday reported fiscal third-quarter earnings that fell short of expectations and slashed its full-year adjusted profit outlook, citing a “challenging” environment for pharmacies and U.S. consumers. The […]
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Healthy Returns: Eli Lilly, other drugmakers show off encouraging weight loss drug data
An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City on Dec. 11, 2023. Brendan McDermid | Reuters Think a friend or colleague should be getting this newsletter? Share this link with them to sign up. Good morning! Eli Lilly, Novo Nordisk and other drugmakers showed off encouraging data […]
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Biden administration to lower costs for 64 drugs through inflation penalties on drugmakers
US President Joe Biden speaks during an event at the National Institutes of Health (NIH) in Bethesda, Maryland, US, on Thursday, Dec. 14 2023. Chris Kleponis | Bloomberg | Getty Images The Biden administration on Wednesday said it will impose inflation penalties on 64 prescription drugs for the third quarter of this year, lowering costs […]
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Novo Nordisk’s Wegovy weight loss drug approved in China
Novo Nordisk’s Wegovy weight loss drug has seen a meteoric rise in popularity. Nurphoto | Getty Images Novo Nordisk said Tuesday that its Wegovy weight loss treatment has been approved in China for long-term weight management, opening up the blockbuster drug for sale in the world’s second largest economy. China’s National Medical Products Administration “recently” […]
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Novo Nordisk to build $4.1 billion North Carolina facility to boost output of Wegovy, Ozempic
Novo Nordisk’s new manufacturing facility in Clayton, North Carolina. Courtesy: Novo Nordisk Novo Nordisk on Monday said it will spend $4.1 billion to build a new manufacturing plant in Clayton, North Carolina, in a bid to boost the supply of its blockbuster weight loss drug Wegovy, diabetes treatment Ozempic and other injectable therapies. Demand for […]
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Supreme Court rejects appeals brought by RFK Jr-founded anti-vaccine group over Covid shots
Independent Presidential candidate Robert F. Kennedy Jr. speaks during a campaign rally at Legends Event Center on December 20, 2023 in Phoenix, Arizona. Rebecca Noble | Getty Images The Supreme Court on Monday turned away two Covid-related appeals brought by Children’s Health Defense, the anti-vaccine group founded by independent presidential candidate Robert F. Kennedy Jr. The decision […]
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Eli Lilly expects FDA decision on weight loss drug Zepbound for sleep apnea as early as end of the year
Eli Lilly on Friday said it applied for U.S. approval of its weight loss drug Zepbound for the treatment of the most common sleep-related breathing disorder and expects regulators to make a decision as early as the end of the year. If cleared by the Food and Drug Administration, the company plans to launch Zepbound for so-called obstructive […]
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Healthy Returns: More U.S. employers are now covering GLP-1s for weight loss
Think a friend or colleague should be getting this newsletter? Share this link with them to sign up. The injectable weight loss medication Wegovy at New City Halstead Pharmacy in Chicago on April 24, 2024. Scott Olson | Getty Images Good morning! More U.S. employers are covering a buzzy class of medications called GLP-1s for weight […]
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