Author: IQ TIMES MEDIA
Feb 23 (Reuters) – Eli Lilly said on Monday it received the U.S. Food and Drug Administration’s approval to launch a four-dose KwikPen for its weight-loss drug Zepbound, delivering a full month of the treatment in a single device. Rival Novo Nordisk’s Wegovy has been sold as a single-dose weekly autoinjector pen for weight loss in the U.S. since 2021. Here are some details: * Zepbound KwikPen will be available starting at $299 per month for the 2.5-milligram dose for cash-paying customers * The multi-dose injection pen will be available in all six doses – 2.5 mg, 5 mg, 7.5…
Feb 23 (Reuters) – Gilead Sciences will pay as much as $7.8 billion to acquire its partner Arcellex in its largest deal since 2020, the biopharma company said on Monday, as it looks to strengthen its lineup of cancer treatments. The company, which has a strong foothold in HIV drugs and liver disease treatments, has been looking for growth beyond its core areas as it faces declining sales of its COVID-19 drug Veklury and prepares for future patent losses. It will pay $115 per share in cash, which is at a premium of 79% to the stock’s last close. Shares…
Feb 23 (Reuters) – Novo Nordisk shares slumped by more than 16% on Monday, wiping away the remaining gains brought by its blockbuster weight-loss drug Wegovy, after the drugmaker said its next-generation obesity drug CagriSema underperformed Eli Lilly’s rival. Novo, which in 2024 was worth more than $650 billion, has since shed around $475 billion, with the shares back at levels last seen before Wegovy transformed it into Europe’s most valuable drugmaker. Novo’s shares fell to their lowest level since June 2021, when Wegovy was first launched, driving a long sales and share price boom that even helped propel Denmark’s…
SHANGHAI, Feb 24 (Reuters) – Pfizer has entered an agreement to license Sciwind Biosciences’ type 2 diabetes treatment ecnoglutide, with potential payments of up to $495 million if milestones are met, the Chinese drugmaker said on Tuesday. The deal represents “an important first step to advance Pfizer’s global strategy in the metabolic field in China,” Sciwind said in a statement on its website. The Hangzhou-based company’s injection belongs to a class of drugs called GLP-1 receptor agonists that has also seen investment from drugmakers including Novo Nordisk, Eli Lilly, Innovent Biologics and Guangzhou Innogen. In December, Pfizer licensed from another…
Feb 23 (Reuters) – Japan’s Astellas and Vir Biotechnology said on Monday they will together develop and commercialize the U.S. drug developer’s prostate cancer experimental drug. Vir will receive $335 million in upfront and near-term payments under the deal, including $240 million in cash, $75 million in equity investment at a 50% premium, and a near-term $20 million milestone, the companies said. The company will also be eligible to receive up to $1.37 billion in milestone payments, plus double‑digit royalties on sales outside the United States. Astellas will lead the U.S. commercialization of VIR‑5500, and have the exclusive rights outside…
By Arasu Kannagi Basil Feb 24 (Reuters) – Medtronic’s MiniMed Group said on Tuesday it was targeting up to $7.86 billion valuation in its U.S. initial public offering, marking a step forward in the medical device maker’s plan to separate its diabetes business. The Northridge, California-based unit, a heavyweight in diabetes care and which makes products such as insulin pumps, glucose monitoring systems and sensors, is seeking to raise up to $784 million in its IPO by offering 28 million shares priced between $25 and $28 apiece. “With over 40 years of insulin pump manufacturing, MiniMed enters the market as…
Novo Nordisk said Tuesday it will slash its prices for Wegovy and Ozempic beginning next year by up to 50%, highlighting the growing competition among pharmaceutical firms for customers seeking weight-loss drugs. The Danish drugmaker said it plans to offer the medicines for $675 per month starting in January 2027, representing a 50% reduction in price for Wegovy and a 35% reduction for Ozempic. Novo Nordisk will also sell Rybelsus, a pill for adults with type 2 diabetes that is sometimes used for weight loss, for the same price. Novo Nordisk’s decision comes as it competes with Eli Lilly, which…
Feb 25 (Reuters) – Novartis said on Wednesday it intends to build a radioligand therapy manufacturing site in Texas, expanding its U.S. footprint with what will be its first such facility in the state and fifth nationwide. The investment is part of the Swiss drugmaker’s previously announced plan to spend $23 billion to build and expand facilities in the U.S., as global drugmakers rush to shore up their domestic manufacturing capacity and inventory in response to the Trump administration’s hefty tariffs on pharmaceutical imports into the country. “The addition of our fifth RLT manufacturing site in the U.S. strengthens our…
SHANGHAI, Feb 26 (Reuters) – Jiuyuan Genetic Biopharmaceutical has applied for approval to sell its experimental biosimilar version of Novo Nordisk’s blockbuster weight-loss drug Wegovy in China, the Chinese drugmaker said Wednesday. The move comes ahead of a key patent expiry in the world’s second largest pharmaceutical market. In a filing, Jiuyuan, based in the eastern city of Hangzhou, told the Hong Kong stock exchange it was seeking approval to sell Jikeqin for weight management to the obese or overweight. Biosimilars are close copies of biological drugs. Jiuyuan said results of a Phase III trial in subjects with obesity showed…
Feb 25 (Reuters) – Sarepta Therapeutics CEO Douglas Ingram has decided to step down by the end of 2026 or upon the appointment of his replacement, the company said in a regulatory filing. The company said it has commenced a search for his replacement. * The company had a tumultuous 2025 after its gene therapy,Elevidys, for a type of muscle disorder led to the deaths of twopatients and falling sales * The U.S. Food and Drug Administration last year askedSarepta to voluntarily halt shipments of Elevidys and said itwas investigating the deaths linked to the therapy * The company announced…