Author: IQ TIMES MEDIA
(Reuters) -Universal Health Services beat Wall Street estimates for third-quarter profit on Monday, driven by steady demand for medical care services at its hospitals, sending its shares surging 6% in extended trading. Health insurers have flagged elevated demand and rising costs in individual Affordable Care Act, also known as Obamacare, and Medicaid plans for low-income individuals, trends that are expected to benefit hospital operators. For the quarter ended September 30, the King of Prussia, Pennsylvania-based hospital operator reported an adjusted profit of $5.69 per share, beating estimates of $4.84 per share, according to LSEG data. Last week, larger peer HCA…
By Christy Santhosh (Reuters) -Regeneron Pharmaceuticals beat Wall Street estimates for third-quarter results on Tuesday, helped by strong demand for its eczema treatment, Dupixent, and cancer treatment Libtayo, sending shares up 8%. The drugmaker said it will resubmit the marketing application for the pre-filled syringe version of higher-dose Eylea, or Eylea HD, after the U.S. Food and Drug Administration declined its approval on Monday. The company has been facing multiple regulatory setbacks due to the issues at Catalent’s Bloomington filling facility, which caused a delay for three pending applications of eye drug Eylea with the FDA. “We recognize that it…
By Puyaan Singh and Sahil Pandey (Reuters) -Labcorp forecast lower annual revenue growth for its contract research unit on Tuesday, as a prolonged funding crunch continues to weigh on its early-stage drug development clients. Contract research firms have witnessed reduced spending from biotech clients in the past two years. The funding crunch, which was expected to improve this year, could be prolonged due to policy uncertainty from the Trump administration. “The issue that we’re seeing is with timing of study starts … We expected that to start to come back to more normalcy,” CEO Adam Schechter said during a call…
By Christy Santhosh (Reuters) -Regeneron Pharmaceuticals beat Wall Street estimates for third-quarter results on Tuesday, helped by strong demand for its eczema treatment, Dupixent, and cancer treatment Libtayo, sending shares up 10% in afternoon trading. The drugmaker also announced plans to resubmit the marketing application for the pre-filled syringe version of higher-dose Eylea, or Eylea HD, after the U.S. Food and Drug Administration declined its approval on Monday. The company has been facing multiple regulatory setbacks due to the issues at Catalent’s Indiana filling facility, now owned by Novo Holdings, which led delays in three pending FDA applications for the…
(Reuters) -GSK raised its 2025 sales expectations on Wednesday after third-quarter results beat expectations, driven by double-digit growth in its specialty medicines, including HIV and oncology. The drugmaker expects revenue to increase in the range of 6%-7%, compared with an earlier forecast of 3% to 5%. It reported core earnings per share of 55 pence on sales of 8.55 billion pounds ($11.47 billion) for the quarter ended September 30, compared with 47.1 pence on sales of 8.24 billion pounds expected by analysts in a company-compiled poll. The third-quarter results update is CEO Emma Walmsley’s last before Luke Miels takes over…
(Reuters) -Eli Lilly said on Wednesday it is partnering with Walmart to sell its weight-loss treatment Zepbound at the retailer’s pharmacies across the United States at direct-to-consumer prices. This marks the first time the drugmaker has provided a retail pick-up option to customers who use the LillyDirect website to order Zepbound, it said. Self-paying customers can get Zepbound single-dose vials in all approved strengths at Walmart pharmacies, with the lowest dose starting at $349 per month, Lilly said. The drugmaker has been working on expanding access to Zepbound as it competes with rival Novo Nordisk’s Wegovy for a share in…
By Amina Niasse NEW YORK (Reuters) -CVS Health raised its annual adjusted profit forecast on Wednesday, helped by improved pharmacy revenues, and also announced a $5.73 billion writedown of healthcare businesses including its in-pharmacy MinuteClinics. The company, which operates one of the largest U.S. pharmacy chains, Aetna insurance and the CVS Caremark pharmacy benefit manager, reported a net loss of $3.13 per share for the third quarter. Shares of CVS rose as much as 1.2% in premarket trading, reversing earlier losses as investors stayed confident about steady improvement in the underlying results as the healthcare giant recovers from a series…
(Reuters) -GE HealthCare Technologies raised its annual adjusted profit forecast and beat estimates for third-quarter results on Wednesday, powered by strong demand for its medical devices in the United States and the Europe, Middle East, and Africa region. Over the past couple of years, medical device makers have benefited from more people, particularly older Americans, seeking healthcare services and surgical procedures. The company now expects 2025 adjusted profit of $4.51 to $4.63 per share, 4 cents higher at the midpoint than its previous expected range of $4.43 to $4.63. It reiterated expectations of a $265 million, or 45-cents-per-share, impact this…
By Puyaan Singh and Sahil Pandey (Reuters) -Laboratory services provider Labcorp forecast lower annual revenue growth for its contract research unit on Tuesday, as a prolonged funding crunch continues to weigh on its early-stage drug development clients. Contract research firms have witnessed reduced spending from biotech clients in the past two years. The funding crunch, which was expected to improve this year, could be prolonged due to policy uncertainty from the Trump administration. “The issue that we’re seeing is with timing of study starts … We expected that to start to come back to more normalcy,” CEO Adam Schechter said…
By Amina Niasse and Mariam Sunny NEW YORK (Reuters) -CVS Health projected double-digit earnings growth for 2026 on Wednesday after raising its 2025 profit forecast for the third time, showing steady progress in its turnaround efforts. CVS said it foresees mid-teens percentage profit growth versus 2025. It said it will announce a more detailed outlook in December. CVS also recorded a $5.73 billion writedown tied to its healthcare delivery businesses, including in-pharmacy MinuteClinics, Oak Street Health, and Signify Health. The charge reflects both a restructuring of Oak Street, which provides primary care, and diminished value of Signify Health, which offers…