Author: IQ TIMES MEDIA
(Reuters) -Sarepta Therapeutics’ shares plunged nearly 40% in premarket trading on Tuesday as failure of two of its approved drugs for a muscle wasting disorder in a key trial raised concerns about the strength of the company’s portfolio. The latest setback compounds Sarepta’s woes as it is already facing intense scrutiny over its top-selling gene therapy, Elevidys, following deaths of two patients earlier this year. The company’s stock has lost about 80% of its value this year. Sarepta was testing its therapies, Amondys 45 and Vyondys 53, in a trial aimed at seeking confirmation of their effectiveness in treating Duchenne…
(Reuters) -Health and life insurer Aflac topped Wall Street estimates for third-quarter profit and revenue on Tuesday, driven by investment gains and higher premium growth in its United States division. Shares of the company were up more than 2% in extended trading. The Columbus-based insurer provides accident and pet insurance plans through its units in the United States and Japan. Additionally it offers supplemental insurance to help cover out-of-pocket costs, including specialized coverage for critical illnesses, dental care and ophthalmological requirements. The company’s U.S. unit earned net premiums of $1.5 billion in the third quarter, up 2.5% from a year…
By Deena Beasley (Reuters) -Amgen on Tuesday reported quarterly financial results that beat Wall Street expectations, and raised its full-year outlook, as 12% sales growth offset expenses related to experimental weight-loss drug MariTide and a higher tax rate. The California-based biotech company’s third-quarter revenue also rose 12% from a year earlier to $9.56 billion, which was ahead of analysts’ estimates of $8.97 billion, according to LSEG data. Adjusted earnings per share increased 1% to $5.64, compared with the average analyst forecast of $5.01. The results represent “a decent beat and raise,” with multiple products showing higher sales, Mizuho analyst Salim…
(Reuters) -Merck said on Tuesday that it has entered into an agreement to receive funds managed by Blackstone Life Sciences for $700 million to develop an experimental cancer therapy. Under the terms of the agreement, Blackstone’s drug development unit will fund a portion of the development costs to test sac-TMT, an experimental antibody-drug conjugate. Antibody-drug conjugates are designed to deliver an anti-cancer drug more precisely to malignant cells, causing less damage to healthy cells than chemotherapy. Merck is currently evaluating sac-TMT in 15 global late-stage trials spanning six tumor types, including breast, endometrial and lung cancers. The company is working…
(Amends paragraph 6 after Metsera corrects Novo’s previous CVR offer to $21.25 from $22.50) (Reuters) -Novo Nordisk and Pfizer have revised their bids for Metsera, the obesity drug developer said on Tuesday. Novo’s revised offer brings the deal value to about $10 billion, while Pfizer is now willing to shell out $8.1 billion. The revised bids come as both companies are engaged in a public dispute to acquire Metsera. Pfizer has filed two lawsuits against Metsera, its board, and Novo Nordisk. The first lawsuit, filed on Friday, claims Novo’s bid breaches Pfizer’s merger agreement and seeks to bypass antitrust review.…
(Reuters) -Health and life insurer Aflac topped Wall Street estimates for third-quarter profit and revenue on Tuesday, driven by investment gains and higher premium growth in its United States division. Shares of the company were up more than 2% in extended trading. The Columbus-based insurer provides accident and pet insurance plans through its units in the United States and Japan. Additionally it offers supplemental insurance to help cover out-of-pocket costs, including specialized coverage for critical illnesses, dental care and ophthalmological requirements. The company’s U.S. unit earned net premiums of $1.5 billion in the third quarter, up 2.5% from a year…
By Sriparna Roy and Sneha S K (Reuters) -Health insurer Humana’s shares fell more than 7% after it did not provide performance commentary for 2026, disappointing investors even as it reported better-than-expected quarterly profit on higher revenues and in-line medical costs. The company did not provide membership or profit forecasts for 2026 in its quarterly results on Wednesday and at least two analysts said the lack of clarity on next year’s performance could be weighing on sentiment. Lower quality ratings for its Medicare Advantage plans have been a concern for next year as they could cost Humana millions of dollars…
By Padmanabhan Ananthan (Reuters) -Cencora will invest over $1 billion through 2030 to expand its U.S. network, the drug distributor said on Wednesday, after forecasting adjusted profit for next year above Wall Street expectations. The company said it will build a second national distribution center in Harrison, Ohio, and new or enlarged sites in California and Alabama. The investment aligns with the Trump administration’s push to boost domestic pharmaceutical manufacturing and distribution, and help Cencora respond to surging demand for medicines that need special handling and refrigeration. The new Ohio hub will span 530,000 square feet and have advanced automation,…
By Sahil Pandey (Reuters) -Zimmer Biomet Holdings cut its 2025 organic revenue growth forecast following weakness in Latin America and emerging markets in Europe, sending shares 15% lower on Wednesday. The medical device maker kept its overall revenue growth forecast stable, aided by foreign currency fluctuations. But it lowered the upper end of its organic growth outlook to 4.0% from 4.5%, while keeping the floor constant at 3.5%. “We saw a last minute cancellation of distributor orders mostly from the Middle East and Eastern Europe,” said CEO Ivan Tornos. The company reported 5% organic sales growth for the third quarter,…
(Corrects spelling of analyst name in paragraph 3 to Syed) By Deena Beasley (Reuters) -Amgen on Tuesday reported quarterly financial results that beat Wall Street expectations, and raised its full-year outlook, as 12% sales growth offset expenses related to experimental weight-loss drug MariTide and a higher tax rate. The California-based biotech company’s third-quarter revenue also rose 12% from a year earlier to $9.56 billion, which was ahead of analysts’ estimates of $8.97 billion, according to LSEG data. Adjusted earnings per share increased 1% to $5.64, compared with the average analyst forecast of $5.01. The results represent “a decent beat and…