Author: IQ TIMES MEDIA
Dec 12 (Reuters) – The weight-loss drug market is booming, with biotech firms racing to secure their place in a lucrative sector currently dominated by Novo Nordisk and Eli Lilly. Analysts project the industry could rake in $150 billion in annual sales by the next decade. Soaring demand for its obesity treatment has helped Lilly become the first pharmaceutical company to reach $1 trillion in market value last month. The following is a list of weight-loss drugs in development by Novo, Lilly and other companies chasing the next blockbuster treatment: NOVO NORDISK The Danish drugmaker is working on several experimental…
Valerie Health Valerie Health raised $30 million from Redpoint Ventures to automate healthcare front office tasks. The startup uses AI to automate referrals and scheduling for independent provider groups. We got an exclusive look at the 13-slide pitch deck Valerie Health used to raise its Series A. When Valerie Health CEO Peter Shalek demos his product to clinicians, he has an unusual pitch: “This is a weird demo, because you’ll never have to use this software.” Valerie Health, which Shalek cofounded alongside Uber Health founder Nitin Joshi, aims to fully automate time-consuming front-office tasks in healthcare, such as referrals and…
By Dietrich Knauth NEW YORK, Dec 17 (Reuters) – Genesis Healthcare is preparing for a new auction of its 175 long-term nursing homes in January, after a judge refused to approve an insider bid that would have left the same ownership group in charge after the company’s bankruptcy. Daniel Simon, the company’s bankruptcy attorney, said at a Wednesday court hearing in Dallas that the company is working with creditor representatives and hoping to conduct a new and more open auction in mid-January. While Genesis was “humbled” by the rejection of its initial sale proposal, the new auction must proceed quickly…
Dec 17 (Reuters) – Eli Lilly is slashing the prices of its popular diabetes and weight-loss drugs Mounjaro and Zepbound by 20% or more in Canada, the Globe and Mail reported on Wednesday, citing a note to pharmacies issued by the U.S.-based drugmaker. The Canadian list price of a four-week supply of Mounjaro or Zepbound would be lowered to 300 Canadian dollars ($217) for 2.5 mg and 5 mg doses, the report said. Higher 7.5 and 10 mg doses will cost 420 Canadian dollars for a four-week supply, the report said, adding that the new prices take effect on December…
Dec 18 (Reuters) – Japan’s Takeda Pharmaceutical said on Thursday its experimental pill for a type of skin disease, developed using artificial intelligence, succeeded in two late-stage studies. More than half the plaque psoriasis patients across the studies showed clear or almost clear skin after 16 weeks of treatment with the once-daily drug, zasocitinib, the company said. Takeda plans to file marketing applications with the U.S. Food and Drug Administration and other regulatory authorities in 2026. If approved, zasocitinib would join a crowded plaque psoriasis market featuring well-established oral rivals like Bristol Myers’ Sotyktu and Amgen’s Otezla, plus injectables including…
Dec 19 (Reuters) – BioMarin Pharmaceutical (BMRN) said on Friday it would acquire Amicus Therapeutics (FOLD) for about $4.8 billion, expanding its presence in rare metabolic diseases. The drugmaker will pay $14.50 per share for Amicus, a premium of 33.1% to the stock’s last close. Shares of Amicus surged 30%, while BioMarin rose nearly 5% in premarket trading. The deal strengthens BioMarin’s portfolio with Amicus’ approved genetic disorder treatments including Galafold, an oral drug for Fabry disease, which is caused by a faulty gene that leads to a buildup of fatty substances in cells. Amicus also markets a combination therapy…
NEW YORK, Dec 19 (Reuters) – UnitedHealth said on Friday that audits by outside consulting firms of its health services and pharmacy benefit units would result in operational changes including more automation and increased standardization of internal processes. UnitedHealth Group Inc CEO Stephen Hemsley promised the review of the company’s businesses earlier this year after the company missed its own profit expectations for the first time since 2008. During a first-quarter earnings conference call, executives attributed the shortfall to government reimbursement pressures and an unfavorable mix of new patients in Optum Health. UnitedHealth provides clinical services through Optum Health and…
18-year-old Alex Yang founded an AI startup with students around the world he met online. The team of high schoolers aims to improve Alzheimer’s diagnostics through AI intervention. Their startup launched an AI therapy product to help Alzheimer’s patients with memory recall. My typical morning starts around 3 a.m. I’m instantly met with Messenger notifications from web developers in California, GitHub pings from Florida, and a running document of research papers to read sent from Michigan. By 7:50 a.m. I’m off to class to live my life as an 18-year-old high school senior in Seoul. This solitary ritual has become…
Dec 22 (Reuters) – The U.S. Food and Drug Administration approved Novo Nordisk’s weight-loss pill on Monday, giving the Danish drugmaker a leg up in the race to market a potent oral medication for shedding pounds as it looks to regain lost ground from rival Eli Lilly. The pill is 25 milligrams of semaglutide, the same active ingredient in injectable Wegovy and Ozempic, and will be sold under the brand name Wegovy. Novo already sells an oral semaglutide for type 2 diabetes, Rybelsus. The approval could help spur a turnaround for Novo after a rocky year of sliding shares, profit…
LONDON, Dec 23 (Reuters) – Novo Nordisk’s (NVO) newly approved weight-loss pill version of Wegovy will be a test case for the fast-growing cash-paying consumer market, with plans for the first highly effective oral treatment to go straight to US self-pay channels in early January. The pill was granted US Food and Drug Administration approval on Monday, a boost for Danish drugmaker Novo as it looks to claw back ground lost to US rival Eli Lilly (LLY). A key part of making it a success will be attracting cash-paying consumers, a stark shift from a business model where drug pricing…