Author: IQ TIMES MEDIA

By Jonathan Stempel (Reuters) -Texas Attorney General Ken Paxton on Thursday asked a state judge to block Kenvue from paying a nearly $400 million shareholder dividend this month, after suing the drugmaker for allegedly concealing risks to children from the use of Tylenol by pregnant women. The October 28 lawsuit against Kenvue and its former parent Johnson & Johnson, which made Tylenol for six decades, was filed five weeks after Republican President Donald Trump repeated the unproven claim that using Tylenol during pregnancy can cause autism. Paxton, also a Republican, said Kenvue must conserve cash because it faces billions of…

(Reuters) -India’s Mankind Pharma reported a fourth straight quarter of profit fall on Thursday, as the government’s sweeping cuts on its goods and services taxes caused supply chain disruptions, weighing on sales volume. The company, which makes ‘Manforce’ condoms and ‘Gas-O-Fast’ antacid tablets, said consolidated net profit fell nearly 22% to 5.12 billion rupees in the second quarter ended September 30. Revenue rose 20.8% to 36.97 billion rupees. KEY CONTEXT: Mankind’s chronic illness drugs segment continued to do well, with its domestic market share rising 1.9%, led by demand for its anti-diabetic and cardiovascular medication. The firm and its peer…

By Patrick Wingrove (Reuters) -Moderna lowered the top end of its 2025 revenue forecast by $200 million on Thursday, citing weaker-than-expected sales of its COVID-19 vaccine in the U.S. as Americans struggled to access the shots. The company said it now expects revenue of $1.6 billion to $2 billion for the year, down from its previous forecast of $1.5 billion to $2.2 billion. Moderna reported third-quarter revenue of $1 billion, a 45% drop from a year ago, but ahead of analysts’ estimates of $886.54 million, according to LSEG data. Moderna reported a quarterly loss of 51 cents per share, far…

(Reuters) -India’s GlaxoSmithKline Pharmaceuticals reported slightly higher second-quarter profit on Thursday, led by steady demand for its specialty medicine portfolio. The Indian unit of British drugmaker GSK reported consolidated profit of 2.57 billion rupees ($29 million) in the quarter ended September 30, up 2% from last year. Its revenue from operations decreased 3% to 9.8 billion rupees, down for a second quarter in a row. KEY CONTEXT GlaxoSmithKline Pharma, an industry leader in pediatric vaccines, is making inroads into the adult vaccine market with its shingles vaccine Shingrix, which has boosted earnings. Supply constraints and the transitory impact of GST…

(Reuters) -Drug distributor McKesson raised its fiscal 2026 profit forecast on Wednesday, betting on strong growth in its oncology and specialty drug distribution businesses. Shares of the company rose about 2% in extended trading. Drug distributors in the United States are expanding their presence in the market for specialty medicines, which treat complex conditions such as rheumatoid arthritis and cancer, due to their high profit margins. McKesson now expects adjusted earnings per share in the range of $38.35 to $38.85 for fiscal 2026, compared to its previous outlook of $38.05 to $38.55 per share. Analysts, on average, expect a profit…

By Jonathan Stempel (Reuters) -Bristol Myers Squibb reached a $239 million settlement of claims that former Celgene shareholders were defrauded about prospects for the psoriasis drug Otezla, and multiple sclerosis treatment now known as Zeposia. A preliminary settlement of the 7-1/2-year-old class action was filed on Tuesday night in the federal court in Newark, New Jersey, and requires a judge’s approval. The former shareholders could receive about $159.3 million after legal fees and costs are deducted, court papers show. Bristol Myers bought Celgene for $80.3 billion in cash and stock in November 2019. In a statement on Wednesday, Bristol Myers…

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,…

During a back and forth with reporters on Thursday in the Oval Office, President Trump recognized that US consumers are “paying something” for tariffs. “I think that they might be paying something. But when you take the overall impact, the Americans are gaining tremendously,” Trump said. It was among the first acknowledgments from Trump that US consumers are footing at least some of the bill for his tariff regime, the bulk of which faced scrutiny before the Supreme Court this week. In a closely watched case, a majority of the justices — both the court’s three liberal-leaning justices, as well…