Biotech and Pharmaceuticals
Vertex shares pop after non-opioid painkiller posts positive mid-stage trial results
A sign hangs in front of the world headquarters of Vertex Pharmaceuticals in Boston, Massachusetts, U.S., October 23, 2019. Brian Snyder | Reuters Shares of Vertex jumped Wednesday after the company’s painkiller, which is being tested as an alternative to opioids, significantly decreased pain in a mid-stage trial. Those positive results for diabetes patients suffering […]
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Supreme Court agrees to hear showdown over abortion pill access
Mifepristone, the first medication in a medical abortion, is prepared for a patient at Alamo Women’s Clinic in Carbondale, Illinois, April 20, 2023. Evelyn Hockstein | Reuters The Supreme Court on Wednesday took up a high-stakes legal battle that could lead to a definitive decision on whether the drug most commonly used for medication abortions […]
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Pfizer shares fall as 2024 revenue and profit forecast disappoints
Shares of Pfizer fell Wednesday after the drugmaker forecast 2024 revenue and profit below Wall Street’s expectations, as it sees weak demand for its once-blockbuster Covid products. Pfizer also raised the target of its sweeping cost-cutting plan by $500 million, bringing the anticipated total to $4 billion. The company expects 2024 revenue of $58.5 billion […]
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Patients regain weight after stopping Eli Lilly's Zepbound, study says
Eli Lilly’s drug tirzepatide was approved for weight loss by the FDA. Courtesy of Eli Lilly Patients who took Eli Lilly‘s weight loss drug Zepbound regained around half the weight they shed after stopping the newly approved treatment for a year, according to data released Monday. The data, which represents the full results from an […]
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Cigna shares jump on reports of abandoned Humana buyout, plans for $10 billion stock buyback
Sopa Images | Lightrocket | Getty Images Shares of Cigna jumped Monday following reports that the health-care giant has scrapped its plans to buy rival Humana due to disagreements on price, putting an early end to what would have been one of the largest deals of the decade. Cigna late Sunday also announced plans to […]
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Occidental Petroleum to acquire Permian producer CrownRock for $12 billion, elevate dividend
Occidental Petroleum Jay L. Clendenin | Los Angeles Instances | Getty Images Occidental Petroleum has agreed to obtain CrownRock, a important privately held energy producer that operates in the Permian Basin, for $12 billion. The deal is most current in a spate of consolidation in the U.S .strength sector, particularly in the Permian, the greatest […]
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U.S. approves first gene-editing treatment, Casgevy, for sickle cell disease
Blood sample tube with blood for Sickle Cell Screen -Test. Sickle cell blood test, abnormal hemoglobin test. Md Babul Hosen | Istock | Getty Images The U.S. Food and Drug Administration on Friday approved the country’s first gene-editing treatment, Casgevy, for use in patients with sickle cell disease. The approval comes about a decade after […]
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U.S. poised to approve first gene-editing treatment in breakthrough for sickle cell patients
At age 19, Joe Tsogbe underwent his first hip replacement. In his 20s, he averaged about nine hospitalizations a year. By his 30s, that rose to more than a dozen. All the result of sickle cell disease, an inherited blood disorder where a genetic mutation causes normally full-moon shaped red blood cells to form into […]
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Biden administration asserts ability to seize drug patents in shift to slash significant charges
President Joe Biden speaks about guarding Social Protection, Medicare, and lowering prescription drug expenditures, during a stop by to OB Johnson Park and Local community Centre, in Hallandale Beach front, Florida, on Nov. 1, 2022. Kevin Lamarque | Reuters The Biden administration on Thursday asserted its authority to seize the patents of sure highly-priced prescription […]
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AbbVie to acquire neuroscience drugmaker Cerevel Therapeutics for $8.7 billion
A sign stands outside a Abbvie facility in Cambridge, Massachusetts, May 20, 2021. Brian Snyder | Reuters AbbVie on Wednesday said it will acquire neuroscience drugmaker Cerevel Therapeutics for roughly $8.7 billion. Under the terms of the deal, AbbVie will pay $45 per share for Cerevel. AbbVie said it expects to complete the acquisition in […]
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