CNBC’s Jim Cramer on Friday pointed out the number of biopharma mergers and acquisitions that have closed or been announced over the last few months. He told investors to keep an eye on these moves in advance of the JPMorgan health care conference next week. “I know that drug companies are tough to own in … Read more
CNBC’s Jim Cramer on Friday told investors what to watch for on Wall Street next week, highlighting JPMorgan‘s market-moving health-care conference in San Francisco. Taking place from Monday to Thursday, the conference is one of the year’s largest gatherings of major industry CEOs where they reveal earnings guidance and updates on clinical trial research. “The … Read more
Pfizer (PFE) has suffered another setback in its efforts to develop a weight-loss pill — and that’s good news for Club holding Eli Lilly (LLY) as it looks to maintain an edge in the fast-growing obesity-treatment market. Pfizer said Friday it will discontinue its twice-daily weight-loss pill, danuglipron, after patients in a mid-stage trial experienced … Read more
Pfizer on Friday said it would stop developing the twice-daily version of its experimental weight loss pill after obese patients taking the drug lost significant weight but had trouble tolerating the drug in a mid-stage clinical study. The drugmaker observed high rates of adverse side effects, which were mostly mild and gastrointestinal, among patients. A … Read more
Sopa Images | Lightrocket | Getty Images Pfizer’s twice-daily version of its experimental weight loss pill has now joined a long list of other scrapped drugs that aimed to treat obesity but came with unintended consequences. The drugmaker on Friday said it will stop developing the twice-daily treatment, danuglipron, after obese patients taking the drug … Read more
Harun Ozalp | Anadolu | Getty Images The free version of ChatGPT may provide inaccurate or incomplete responses — or no answer at all — to questions related to medications, which could potentially endanger patients who use OpenAI’s viral chatbot, a new study released Tuesday suggests. Pharmacists at Long Island University who posed 39 questions … Read more
President Joe Biden speaks about protecting Social Security, Medicare, and lowering prescription drug costs, during a visit to OB Johnson Park and Community Center, in Hallandale Beach, Florida, on Nov. 1, 2022. Kevin Lamarque | Reuters The Biden administration on Thursday opened the door to seizing the patents of certain costly medications from drugmakers in … Read more
An employee works on the production line of pharmaceutical company Zentiva in Prague, Czech Republic, May 6, 2021. David W. Cerny | Reuters The health-care sector has wiped out much of its losses for the year during the December market rally. Beaten-down biotech and medical device makers have seen the biggest rebound this month, and … Read more
Here are the most important news items that investors need to start their trading day: 1. Roaring to a record Stocks are on a tear heading into the last full trading week of the year. The Dow Jones Industrial Average notched an intraday record high on Friday, as investors welcome expectations that the Federal Reserve … Read more
Soumyabrata Roy | Nurphoto | Getty Images Drugmakers are closing out a year when they achieved several historic firsts that will shape the pharmaceutical industry in 2024 and beyond. The weight loss drug market transformed into the pharmaceutical industry’s newest gold rush this year, as demand for costly but highly effective treatments from Novo Nordisk … Read more
