Author: IQ TIMES MEDIA

(Reuters) -Novo Nordisk has cut its cell therapy division, where it was trying to find a cure for type 1 diabetes, Bloomberg News reported on Friday. It also cited Danish newspaper Borsen, which reported that the company would lay off nearly all of the unit’s 250 employees. Novo was testing its cell therapy to generate insulin-producing beta cells for patients with type 1 diabetes in a preclinical study, along with another cell therapy candidate for Parkinson’s disease in early-stage trials. The latest move is part of CEO Mike Doustdar’s plan to reduce headcount by 11% and reallocate resources to high-priority…

By Bhanvi Satija and Maggie Fick LONDON (Reuters) -Wall Street is looking to U.S. drugmaker Eli Lilly and Anglo-Swedish rival AstraZeneca as the potential next in line after Pfizer struck a deal with Donald Trump’s administration to lower drug prices last week. Reuters spoke to seven healthcare analysts and investors. Four said Lilly could be next to make a deal, while three pointed to AstraZeneca. Others mentioned Merck, AbbVie, Regeneron and Bristol-Myers Squibb. Reuters could not independently confirm any such deals were in the offing, but drugmakers have been jostling to get a deal after Pfizer’s September 29 agreement that…

SINGAPORE (Reuters) -The implementation of a U.S. tariff on Singapore’s pharmaceutical exports has been delayed to allow companies to negotiate possible exemptions with the U.S. administration, the Straits Times newspaper cited a junior minister as saying on Tuesday. The U.S. announced a 100% tariff on branded drugs last month and it was originally meant to take effect from October 1. The Straits Times did not say if the minister of state for trade, Gan Siow Huang, gave a fresh date for the tariff’s introduction. But she said Singapore-based pharmaceutical companies are now waiting to hear from the U.S. administration to…

By Kamal Choudhury (Reuters) -U.S. biotech firm Nabla Bio said on Tuesday it has signed a second major research partnership with Japanese drugmaker Takeda Pharmaceutical, deepening their use of artificial intelligence to accelerate drug discovery. Under the new multi-year agreement, which builds on an earlier collaboration launched in 2022, Nabla will receive upfront and research cost payments in double-digit millions. The company is also eligible for success-based payments worth more than $1 billion. The move underscores growing momentum across the pharmaceutical industry to harness AI in drug development, with hopes of significantly reducing timelines and costs in the coming years.…

(Reuters) -BioCryst Pharmaceuticals said on Tuesday it would buy Astria Therapeutics in a cash-and-stock deal valued at about $700 million, strengthening its rare diseases portfolio. The offer implies a per-share value of $13, a premium of about 54% over Astria’s last close. Its shares surged 35.1% before the bell. BioCryst shares were last up 3.7% at $7.3 in volatile trading. Astria CEO Jill Milne will join BioCryst’s board after the deal is closed, expected in the first quarter of 2026. Astria’s lead drug candidate, navenibart, is being developed in a late-stage study to prevent hereditary angioedema (HAE), a rare and…

By Patrick Wingrove (Reuters) -Johnson & Johnson said on Tuesday it plans to separate its orthopedics business into a standalone company named DePuy Synthes within the next 18 to 24 months, marking its second major spinoff in two years. The healthcare conglomerate also raised its 2025 sales forecast after reporting quarterly earnings that topped Wall Street expectations. The company projected product revenue of $93.5 billion to $93.9 billion, about $300 million higher than its prior forecast and above analysts’ expectations of $93.4 billion, according to LSEG data. J&J’s orthopedics unit, which makes hip, knee, and shoulder implants, surgical instruments, and…

By Sneha S K and Bhanvi Satija (Reuters) -Shah Capital has urged Novavax’s board to pursue a sale of the biotech, citing a third consecutive year of poor roll-out of its COVID-19 shot, the hedge fund said on Tuesday. In its letter, shared exclusively with Reuters, the company’s second largest shareholder recommended that Novavax’s capabilities will “have far greater potential in the hands of a large capable pharma entity.” Shah Capital owns a 7.2% stake in Novavax. Himanshu Shah, founder and chief investment officer of the fund, told Reuters that Novavax could get a valuation of “at least $5 billion”…

By Abigail Summerville and Svea Herbst-Bayliss (Reuters) -Tylenol maker Kenvue was already having a painful year before U.S. President Donald Trump and his health secretary got involved. Activist investor Starboard Value took aim at the company about a year ago, forcing the Band-Aid and Benadryl maker to settle a potentially costly and time-consuming fight by naming the hedge fund’s CEO, Jeffrey Smith, and two other directors to the board in March. Other unhappy investors weren’t mollified by the board refreshment, including Daniel Loeb’s hedge fund Third Point, which quietly built its own stake in April. In mid-July, Kenvue’s board ousted…

By Diana Novak Jones (Reuters) -A U.S. judge on Tuesday rejected Humana’s bid to challenge the Centers for Medicare & Medicaid Services’ 2025 ratings for its Medicare Advantage plans, which could cost the health insurance company millions of dollars in bonus payments from the government. U.S. District Judge Reed O’Connor in Fort Worth, Texas, sided with the U.S. Department of Health and Human Services in Humana’s lawsuit over a reduction in the so-called star ratings for its Medicare Advantage plans, saying CMS properly evaluated the plans. A spokesperson for Humana said the company would explore all legal options. The company…

By Sneha S K and Bhanvi Satija (Reuters) -Shah Capital has urged Novavax’s board to pursue a sale of the biotech, citing a third consecutive year of poor rollout of its COVID-19 vaccine, the hedge fund said on Tuesday. In its letter, shared exclusively with Reuters, the second largest shareholder in Novavax suggested that the vaccine maker’s capabilities will “have far greater potential in the hands of a large capable pharma entity.” Novavax in response said that its board remains open to “other credible options” that maximize shareholder value. Shah Capital, which owns 7.2% of Novavax, is making a second…