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, … Read more
Shares of Danish pharmaceutical giant Novo Nordisk slid 4% on Friday, extending a 2.7% loss on Thursday as analysts pored over the details of the firm’s first-quarter results and monitored a potential rival weight loss treatment. It puts the stock on track for its sharpest daily decline since October 2023, according to LSEG data. The company reported that … Read more
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. Amgen is among several drugmakers racing … Read more
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 needs as demand for Covid shots plunges … Read more
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, which became the most valuable company in Europe last year due to the blockbuster success of its weight loss drugs, on Thursday beat first-quarter profit expectations as demand for … Read more
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 … Read more
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 … Read more
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 … Read more
Eli Lilly ‘s raised guidance stole the show Tuesday, offsetting mixed first-quarter results and propelling shares higher by nearly 6%. The numbers leave little doubt that the long-term Eli Lilly success story remains intact, as demand for its new diabetes and obesity drugs, Mounjaro and Zepbound, outstrips supply. Revenue in the three months ended March … Read more
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 diabetes drugs Ozempic, Saxenda and Victoza. … Read more
