Biotech and Pharmaceuticals
Biden administration examining role of supply chain middlemen in generic drug shortages
A variety of generic pills and capsules. Nenov | Moment | Getty Images The Federal Trade Commission on Wednesday said it is examining the role that drug wholesalers and companies that purchase medicines for U.S. health-care providers play in shortages of generic drugs, which account for the majority of Americans’ prescriptions. The move follows an […]
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Healthy Returns: Higher medical costs are pinching insurers
A UnitedHealth Group health insurance card is seen in a wallet, Oct.14, 2019. Lucy Nicholson | Reuters Good afternoon! Health insurers are feeling the squeeze as older patients head to the doctor more than expected. CVS, which owns health insurer Aetna, on Wednesday slashed its full-year profit outlook, citing the potential for higher medical costs to bite […]
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Federal judge tosses lobbying group's lawsuit challenging Medicare drug price negotiations
Activists protest the price of prescription drug costs in front of the U.S. Department of Health and Human Services (HHS) building on October 06, 2022 in Washington, DC. Anna Moneymaker | Getty Images A federal judge on Monday tossed a lawsuit brought by a major pharmaceutical industry lobbying group and two other organizations, which challenged […]
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Biogen revenue and profit shrink on Aduhelm costs, slumping sales of multiple sclerosis therapies
Biogen on Tuesday reported fourth-quarter revenue and profit that shrank from a year ago, as it recorded charges related to dropping its controversial Alzheimer’s drug Aduhelm and as sales slumped in its multiple sclerosis therapies, the company’s biggest drug category. Biogen booked sales of $2.39 billion for the quarter, down 6% from the same period a […]
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Wall Street changes its tune on this healthcare stock. Why we were always bullish
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. 1. U.S. stocks were modestly higher Monday as the market awaits key economic data. Traders will be mulling over the consumer price index Tuesday, retail sales Thursday, and the producer […]
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Weight loss drugs are still hard to find — but Novo Nordisk and Eli Lilly are trying to change that
Injection pens of Novo Nordisk’s weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, Nov. 21, 2023. Victoria Klesty | Reuters The insatiable demand for weight loss drugs is trouncing supply, leaving many patients struggling to find the injectable treatments. The dominant weight loss drugmakers, Novo Nordisk and Eli Lilly, have said […]
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Senators to question Merck, J&J and Bristol Myers Squibb CEOs over high U.S. drug pricing
Sen. Bernie Sanders, left, appears at a news conference with Sen. Ed Markey on issuing subpoenas for pharmaceutical company CEOs to testify regarding drug prices, in the Capitol, Jan. 25, 2024. Bill Clark | Cq-roll Call, Inc. | Getty Images Senators will question the CEOs of Johnson & Johnson, Merck and Bristol Myers Squibb on […]
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CVS beats estimates, but cuts full-year profit outlook on higher medical costs
A CVS location in New York, US, on Thursday, Feb. 9, 2023. Stephanie Keith | Bloomberg | Getty Images CVS Health on Wednesday reported fourth-quarter revenue and adjusted earnings that topped expectations, but the company cut its full-year profit outlook, citing higher medical costs that are dogging the broader insurance industry. The company lowered its […]
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Healthy Returns: Novo Nordisk, Eli Lilly are tackling weight loss drug supply woes
Good afternoon! All eyes are on Novo Nordisk and Eli Lilly again as Wall Street looks for signs that they can address one of the biggest hurdles they faced last year. Neither company has enough supply to meet the insatiable demand for their weight loss and diabetes drugs. One month into 2024, the two drugmakers still haven’t fully resolved those supply issues. […]
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Eli Lilly says weight loss drug shows promise as treatment for fatty liver disease
An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023. Brendan McDermid | Reuters Eli Lilly on Tuesday said its highly popular drug used for weight loss and diabetes showed promise as a treatment for fatty liver disease in a midstage trial. The initial study […]
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