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
Walgreens CEO Tim Wentworth told CNBC’s Jim Cramer that the company is using its stores and brand to bolster its developing health-care business. Walgreens has made significant investments over the past few years to expand beyond a drugstore chain into a large health-care company. Wentworth acknowledged that the company has been closing stores to make … Read more
Bristol-Myers Squibb CEO Chris Boerner detailed the pharmaceutical giant’s bundle of recent acquisitions in a Monday interview with CNBC’s Jim Cramer, and indicated the company is in a transformative stage. “We are writing the next chapter of this company,” Boerner said. “And we’ve got real financial strength that has enabled us to go and actually … 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
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
Eli Lilly is on track for a new high Thursday after unveiling a service aimed at making it easier for patients to access weight-loss drugs. Jim Cramer says investors should let LLY stock ride. The Club holding launched LillyDirect, a website that connects patients directly to a telehealth provider who can prescribe the drugmaker’s weight-loss … 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
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
