CVS Health plans to close select pharmacies inside Target stores early this year, a company spokesperson said Thursday, as retail pharmacy chains in the U.S. struggle to boost profits. The closures will begin in February and finish by the end of April, the spokesperson said in a statement. She added that employees affected by the … Read more
People walk past a billboard advertisement for YouTube in Berlin, Germany, on Sept. 27, 2019. Sean Gallup | Getty Images YouTube is taking steps to fight against medical misinformation, especially when it comes to finding immediate tips on how to handle an emergency. The company on Wednesday introduced a feature called First Aid Information Shelves, … Read more
An entry sign to the Johnson & Johnson campus shows their logo in Irvine, California on August 28, 2019. Mark Ralston | AFP | Getty Images Johnson & Johnson on Monday said it will pay $2 billion in cash to acquire Ambrx Biopharma, a drugmaker specializing in one of the hottest areas of cancer treatment. … Read more
Nikos Pekiaridis | Lightrocket | Getty Images Moderna on Monday said its Covid vaccine sales plunged by about two-thirds in 2023 to $6.7 billion, as fewer people rolled up their sleeves for an updated version of the jab. The revenue from the shots met Moderna’s forecast for the year, even as sales plummeted from the … Read more
Walgreens is chopping its dividend nearly in half as the drugstore chain looks to strengthen its balance sheet. The health care giant said Thursday that reducing its quarterly payout to shareholders to 25 cents per share will help free up capital to spend growing its pharmacy and health care businesses. New CEO Tim Wentworth said … Read more
Sopa Images | Lightrocket | Getty Images Eli Lilly is shaking up the pharmaceutical industry with a new website offering telehealth prescriptions and direct home delivery of certain drugs, including its red-hot weight loss treatment Zepbound, to expand patient access. The company’s direct-to-consumer push announced Thursday, the first of its kind for a big drugmaker, … Read more
Pharmacist Thomas Jensen, looks over a prescription drug at the Rock Canyon pharmacy in Provo, Utah, May 9, 2019. George Frey | Reuters The Food and Drug Administration on Friday approved Florida’s plan to import cheaper prescription drugs from Canada, a first-in-the-nation move that could reduce costs for Americans but faces fierce opposition from the … Read more
Shares of Walgreens fell more than 11% on Thursday after the company reported fiscal first-quarter adjusted earnings and revenue that topped expectations, but cut its quarterly dividend nearly in half. The retail pharmacy giant slashed its dividend to 25 cents per share from 48 cents per share to “strengthen [its] long-term balance sheet and cash position,” … Read more
An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Maxim Shemetov | Reuters Oil rose more than 3% on Wednesday as tensions mount in the Middle East and OPEC pledges to remain united in supporting prices. The West Texas Intermediate contract for February … Read more
Artur Widak | Nurphoto | Getty Images Shares of Moderna jumped more than 15% on Tuesday after Oppenheimer upgraded the stock to “outperform,” saying the Covid vaccine maker could market five products by 2026. The upgrade follows a dismal 2023 for Moderna, whose only commercially available product is its Covid shot. The company’s stock has … Read more
