Biotechnology
Moderna says FDA delayed RSV vaccine approval to end of May
Nikos Pekiaridis | Lightrocket | Getty Images Moderna on Friday said the Food and Drug Administration has delayed the approval of its vaccine for respiratory syncytial virus to the end of May due to “administrative constraints” at the agency. The FDA was expected to make a decision on the RSV shot on Sunday. The agency […]
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Novavax signs multibillion-dollar deal with Sanofi to commercialize Covid vaccine, develop combination shots
A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands. Patrick Van Katwijk | Getty Images Novavax on Friday said it has signed a multibillion-dollar deal with French drugmaker Sanofi to co-commercialize the company’s Covid […]
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Amgen, newer rivals could threaten Novo Nordisk and Eli Lilly’s weight loss drug dominance
The injectable weight-loss medication Wegovy is available at New City Halstead Pharmacy on April 24, 2024 in Chicago, Illinois. Scott Olson | Getty Images Novo Nordisk and Eli Lilly have long dominated the rapidly growing weight loss drug market, but their duopoly is closer than ever to facing a threat from a new rival. Amgen […]
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Amgen stock soars on weight loss injection progress as Novo Nordisk, Eli Lilly shares slide
Pavlo Gonchar | Lightrocket | Getty Images Amgen‘s stock rose more than 12% on Friday after the drugmaker teased positive initial data on its experimental weight loss injection. That fueled investor concerns about new competition in the rapidly growing weight loss drug industry, sending shares of the current obesity players, Novo Nordisk and Eli Lilly, […]
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Amgen scraps experimental weight loss pill, moves forward with injection
The Amgen logo is displayed outside Amgen headquarters in Thousand Oaks, California, on May 17, 2023. Mario Tama | Getty Images Amgen on Thursday said it will stop developing its experimental weight loss pill and instead move forward with its injectable drug and other products in development for obesity. The announcement is a setback for […]
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Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold
Nikos Pekiaridis | Nurphoto | Getty Images Moderna on Thursday posted a narrower-than-expected loss for the first quarter as the company’s cost-cutting efforts took hold and sales of its Covid vaccine, its only commercially available product, topped estimates. The results come as Moderna inches closer to putting another product on the market, which it badly […]
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Johnson & Johnson will pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.
Johnson & Johnson on Wednesday said it will pay $6.5 billion to settle nearly all of the thousands of lawsuits in the U.S. claiming its talc-based products caused ovarian cancer. The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management. More CNBC health coverage It […]
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Pfizer beats revenue estimates, raises profit outlook on cost cuts and strong non-Covid sales
Jakub Porzycki | Nurphoto | Getty Images Pfizer on Wednesday reported first-quarter revenue that beat expectations and hiked its full-year profit outlook, benefitting from its broad cost-cutting program and strong sales of its non-Covid products. The company now expects to book adjusted earnings of $2.15 to $2.35 per share for the fiscal year, up from […]
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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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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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