Biotechnology
FTC sues drug middlemen for allegedly inflating insulin prices
The Federal Trade Commission on Friday sued three large U.S. health companies that negotiate insulin prices, arguing the drug middlemen use practices that boost their profits while “artificially” inflating costs for patients. The suit targets the three biggest so-called pharmacy benefit managers, UnitedHealth Group’s Optum Rx, CVS Health’s Caremark and Cigna’s Express Scripts. All are […]
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Biotech stocks are an unappreciated way to profit from lower rates, Goldman says
As investors await the Federal Reserve rate decision Wednesday afternoon, Goldman Sachs highlighted to clients an overlooked group of stocks poised to benefit from the move. Biotechnology stocks offer an under-the-radar and unappreciated way to profit from the central bank’s looming campaign to start cutting the cost of borrowing, according to Goldman Sachs. “For those […]
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Novartis not joining the ‘frenzy’ of weight loss drugs, CEO says
The CEO of Novartis said Wednesday that the Swiss pharmaceutical giant does not plan to enter into the “frenzy” of weight loss drugs, preferring instead to focus on areas where it can build a “unique position.” Speaking to CNBC, Vas Narasimhan said that the company was researching treatments that deal with the secondary effects of […]
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Pfizer says its experimental drug for deadly condition that causes appetite and weight loss in cancer patients shows positive trial results
Pfizer‘s experimental drug for a common, life-threatening condition that causes cancer patients to lose their appetite and weight showed positive results in a midstage trial, the drugmaker said Saturday. Patients with the condition, called cancer cachexia, who took Pfizer’s treatment saw improvements in body weight, muscle mass, quality of life and physical function, according to […]
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Moderna to cut $1.1 billion in costs and launch 10 new products by 2027 as it charts post-Covid future
Moderna headquarters, exterior view, Cambridge, Massachusetts, USA. Plexi Images | GHI | UCG | Universal Images Group | Getty Images Moderna on Thursday said it plans to cut around $1.1 billion in expenses by 2027 and win approvals for several new products as it charts a path forward after the rapid decline of its Covid business. […]
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Eli Lilly to invest $1.8 billion to expand manufacturing for weight loss, diabetes and Alzheimer’s drugs
A sign with the company logo sits outside of the headquarters of Eli Lilly in Indianapolis, Indiana, on March 17, 2024. Scott Olson | Getty Images Eli Lilly on Thursday said it will invest $1.8 billion to boost manufacturing for its newly approved Alzheimer’s drug and highly popular weight loss and diabetes treatments, among other medicines, […]
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Alzheimer’s drug Leqembi promises to give patients more time, but they face a long road to treatment
Hannah Yoon | The Washington Post | Getty Images Leqembi, an Alzheimer’s drug from Biogen and Eisai, isn’t a cure for the mind-damaging disease. But the treatment promises to give patients such as Missie Meeks more time to live their daily lives normally and independently of others. Meeks, an English professor based in Ellisville, Mississippi, […]
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AstraZeneca says staff detained in China amid reports of a drug-import investigation
The office building of biopharmaceutical company AstraZeneca is being seen in Shanghai, China, on May 23, 2024. Nurphoto | Getty Images Some employees of British pharmaceutical giant AstraZeneca have been detained by police in China as part of an investigation, the company confirmed Thursday. “We are aware a small number of our employees in China […]
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FDA authorizes Novavax’s updated Covid vaccine, paving way for fall rollout
A vial labelled “Novavax V COVID-19 Vaccine” is seen in this illustration taken January 16, 2022. Dado Ruvic | Reuters The Food and Drug Administration authorized Novavax‘s updated protein-based Covid vaccine for emergency use in people ages 12 and up on Friday, paving the way for the shot to compete with Pfizer and Moderna‘s jabs […]
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Eli Lilly releases new form of weight loss drug Zepbound for half the price to boost access, supply
Eli Lilly on Tuesday released a new form of its weight loss drug Zepbound for roughly half its usual monthly list price to reach millions of patients without insurance coverage for the popular injection, such as those with Medicare. The move also aims to expand the supply of Zepbound in the U.S. as demand skyrockets, […]
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