Pharmaceuticals
FDA grants accelerated approval for Biogen ALS drug that treats rare form of the disease
A pedestrian walks past Biogen Inc. headquarters in Cambridge, Massachusetts, on Monday, June 7, 2021. Adam Glanzman | Bloomberg | Getty Images The Food and Drug Administration on Tuesday granted accelerated approval for Biogen‘s drug tofersen, which treats a rare and aggressive form of the disease known as ALS. Accelerated approval is an FDA designation […]
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Johnson & Johnson consumer health unit valued at $40 billion ahead of IPO, report says
Johnson & Johnson logo SOPA Images | LightRocket | Getty Images Johnson & Johnson‘s consumer health business is valued at $40 billion ahead of its initial public offering later this year, according to a report by The Wall Street Journal. The soon-to-be spinoff Kenvue aims to raise $3.5 billion or more in the offering, people […]
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Eli Lilly, Novo Nordisk and Sanofi CEOs to testify before Senate on lowering insulin prices
In this photo illustration, an insulin pen manufactured by the Novo Nordisk company is displayed on March 14, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images The top executives of the three drug companies that control 90% of the global insulin market will testify May 10 before the Senate Health […]
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U.S. individual bankruptcy choose halts 40,000 talc-most cancers lawsuits in opposition to Johnson & Johnson
In this image illustration, a container of Johnson and Johnson little one powder is displayed on April 05, 2023 in San Anselmo, California. Justin Sullivan | Getty Illustrations or photos A federal bankruptcy choose on Thursday halted around 40,000 lawsuits that allege Johnson & Johnson‘s little one powder and other talc solutions brought on cancer. […]
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DOJ charges 18 people — including doctors — in massive Covid health care fraud takedowns
Eighteen people, some of them doctors, were criminally charged with Covid-19 health-care fraud schemes that netted hundreds of millions of dollars from false billings and theft from federally-funded programs, the Department of Justice said Thursday. The charges, which span nine federal judicial districts, comprise the largest coordinated law enforcement action in the U.S. targeting fraud […]
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Moderna teams up with IBM to put AI, quantum computing to work on mRNA technology used in vaccines
Sopa Images | Lightrocket | Getty Images Moderna and IBM are teaming up to use generative artificial intelligence and quantum computing to advance mRNA technology, the development at the core of the company’s blockbuster Covid vaccine, the companies announced Thursday. “We are excited to partner with IBM to develop novel AI models to advance mRNA […]
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Abbott Labs shares pop as revenue, earnings defy steep drop in Covid test sales
The Abbott manufacturing facility in Sturgis, Michigan, on May 13, 2022. Jeff Kowalsky | AFP | Getty Images Shares of Abbott Laboratories popped Wednesday after the company’s earnings and revenue topped Wall Street’s expectations, defying a dramatic slowdown in sales of its Covid-19 tests. The medical products company posted adjusted earnings per share of $1.03. […]
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Johnson & Johnson expects no new Covid vaccine revenue, after shots drive earnings beat
The Janssen Johnson & Johnson COVID-19 vaccine. Allen J. Schaben | Los Angeles Times | Getty Images International Covid vaccine sales helped spark Johnson & Johnson‘s revenue and earnings beat on Tuesday, but the company said it expects no sales from the shot moving forward. “Regarding our Covid-19 vaccine, we do not anticipate material sales […]
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Johnson & Johnson beats on earnings and revenue, raises full-year guidance
Artur Widak | NurPhoto | Getty Images Johnson & Johnson reported adjusted earnings and revenue that topped Wall Street’s expectations on Tuesday, and lifted its full-year forecast. J&J, whose financial results are considered a bellwether for many health companies, said its first-quarter sales grew 5.6% over the same quarter last year. The consumer staples giant reported […]
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Moderna shares fall despite promising data from cancer vaccine trial
Sopa Images | Lightrocket | Getty Images Shares of Moderna fell Monday as Wall Street chewed over new trial results on the personalized cancer vaccine it is developing with Merck. Merck’s shares were relatively flat. The experimental mRNA vaccine, when combined with Merck’s blockbuster drug Keytruda, cut the risk of recurrence of skin cancer melanoma […]
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