Author: IQ TIMES MEDIA

(Reuters) -The U.S. Food and Drug Administration has placed a clinical hold on Intellia Therapeutics’ two late-stage trials testing an experimental gene therapy for a rare disease that can damage the heart and nerves, the company said on Wednesday. Shares of the Cambridge-based company fell about 17% in extended trading. The FDA’s decision follows a serious safety event in one of the trials, where a patient who received the therapy, called nexiguran ziclumeran (nex-z), developed Grade 4 liver enzyme elevations and increased bilirubin levels, both signs of potential liver damage. The individual has been hospitalized and is under medical care.…

By Michael Erman and Christy Santhosh (Reuters) -Merck & Co posted higher third-quarter revenue on Thursday, as growth from its blockbuster cancer drug Keytruda offset falling sales from human papillomavirus vaccine Gardasil in China. However, shares fell nearly 2% after Merck lowered the high end of its revenue forecast for the full year. It now expects revenue of $64.5 billion to $65.0 billion compared with its prior view of $64.3 billion to $65.3 billion. J.P.Morgan analysts called the quarterly beat “modest,” adding the annual forecasts were “largely reiterated.” Merck shares have fallen about 5% so far in 2025, as investors…

By Jacob Gronholt-Pedersen, Louise Rasmussen and Maggie Fick COPENHAGEN (Reuters) -Denmark’s Novo Nordisk launched a rival bid for U.S. obesity biotech firm Metsera on Thursday, hijacking an offer from Pfizer as the drugmakers jostled for advantage in the highly lucrative weight-loss drug market. Novo Nordisk, the company behind blockbuster weight-loss drug Wegovy and diabetes drug Ozempic, bid up to $8.5 billion, including $6 billion upfront and later milestone payments. Pfizer’s bid was worth $7.3 billion including milestones. Metsera in a statement said that Novo’s bid was “superior” and that it had notified Pfizer, which now has four business days to…

By Siddhi Mahatole (Reuters) -Drug distributor Cardinal Health raised its annual adjusted profit forecast on Thursday after beating estimates for first-quarter profit on strong demand for costly specialty medicines and branded drugs at its pharmaceuticals unit. Shares of the Dublin, Ohio-based company rose 17.7% in early trading. Drug distributors have been benefiting from sales of specialty medicines, which are used to treat complex conditions like rheumatoid arthritis and cancer, due to their high profit margins. They have also benefited from sales of cheaper versions of complex biotech drugs called biosimilars at a time when prices of generic medicines have been…

The market for obesity and diabetes treatments remains scorching hot, funneling billions in sales to Eli Lilly and fueling a bidding war over another drugmaker. Lilly said Thursday that its top-selling drugs, Mounjaro and Zepbound, brought in more than $10 billion combined during the recently completed third quarter. That made up over half of the drugmaker’s $17.6 billion in total sales. Separately, Danish drugmaker Novo Nordisk announced plans to buy Metsera Inc. in a deal that could be worth up to $9 billion. That came more than a month after U.S. drugmaker Pfizer Inc. made a nearly $5 billion bid…

By Michael Erman and Puyaan Singh (Reuters) -Bristol Myers Squibb beat Wall Street estimates for third-quarter revenue on Thursday, as strong growth of its cancer immunotherapy and blood thinner Eliquis helped the drugmaker overcome a hit from generic competition for several older drugs. Shares of the company were up 3.5% at $44.08. Bristol Myers also raised its full-year revenue forecast, reflecting optimism that its portfolio of recently launched drugs will plug a multibillion-dollar revenue gap from patent expirations that open several best-selling drugs to competition. CEO Christopher Boerner has also aggressively pursued acquisitions and partnerships to fill Bristol Myers’ pipeline.…

By Mrinalika Roy and Patrick Wingrove (Reuters) -Eli Lilly raised its full-year profit and revenue forecasts on Thursday as strong overseas demand for weight-loss and diabetes drugs helped it breeze past Wall Street’s third-quarter earnings expectations. Shares of the world’s largest healthcare company by market value were up nearly 2% in morning trading even as investors remain wary of drug price negotiations with the Trump administration. “International Mounjaro demand was a strong driver of the beat and raise this quarter, which is a fantastic factor that shows the dynamicism of the Eli Lilly business model,” said Kevin Gade, chief operating…

By Deena Beasley (Reuters) -Gilead Sciences said on Thursday its HIV drug sales rose 4% to $5.3 billion in the third quarter including $39 million for its new prevention drug Yeztugo, helping to boost its profit. Overall product sales, however, fell 2% to $7.3 billion due to lower COVID-19 and cancer cell therapy sales. Gilead shares closed down a fraction and fell 1% to $117 in after-hours trading. Wall Street expected sales of Yeztugo, which has an annual U.S. list price of about $28,000, at $37.5 million, according to LSEG. The drug is a twice-yearly injection approved by U.S. regulators…

By Deena Beasley (Reuters) -Gilead Sciences said on Thursday its HIV drug sales rose 4% to $5.3 billion in the third quarter including $39 million for its new prevention drug Yeztugo, helping to boost its profit above Wall Street estimates. Wall Street expected sales of Yeztugo, which has an annual U.S. list price of about $28,000, at $37.5 million, according to LSEG. The drug is a twice-yearly injection approved by U.S. regulators in June to prevent HIV in adults and adolescents at high risk of contracting the deadly infection. “We are really pleased with the progress of the Yeztugo launch,”…

(Reuters) -Biogen beat Wall Street estimates for third-quarter profit, helped by better-than-expected sales of some of its multiple sclerosis treatments. The company, however, cut its annual profit forecast as it expects to take a hit of $1.25 per share from research and development charges related to certain acquisitions in the fourth quarter. Biogen said it is pursuing deals to build its early-stage pipeline amid declining sales of its once top-selling multiple sclerosis medicines in the face of stiff competition in a crowded treatment market. “We expect to announce at least another one, if not two, further research-stage deals by the…