Author: IQ TIMES MEDIA
Jan 29 (Reuters) – Drugmaker Eli Lilly is partnering with Repertoire Immune Medicines in a deal worth up to $1.93 billion to develop therapies for multiple autoimmune diseases, the Massachusetts-based biotech said on Thursday. Repertoire will receive $85 million upfront and up to $1.84 billion more for certain development and commercial milestones, as well as tiered royalties on net sales. The companies will aim to develop treatments that will restore the immune system and achieve durable remission of disease, without the generalized immune suppression common with current therapies. Lilly will also gain access to Repertoire’s Decode platform that looks at…
Paying for health care has become Americans’ top financial worry after Congress failed last year to extend some Affordable Care Act subsidies, triggering premium spikes for millions, a new survey finds. Two-thirds of Americans say they are very or somewhat worried about affording health care, outranking concerns about paying for groceries, utilities or housing costs, according to the poll from the health policy research firm KFF. Among those, one-third described themselves as very worried about paying for medical expenses. Health care costs include paying for health insurance, covering out-of-pocket expenses and prescription drug costs. Health care is driving Americans’ financial…
WASHINGTON (AP) — Shares of Altria dipped Thursday after the tobacco giant reported flat earnings due to declining cigarettes sales and challenging competition for newer products, including flavored nicotine pouches. The Richmond, Virginia-based company said fourth-quarter revenue slid 2% to $5.8 billion, mainly driven by lower cigarette sales. Tobacco companies have long had to manage shrinking sales of their main product category, but Altria executives said cigarettes have been increasingly squeezed by the introduction of unauthorized disposable electronic cigarettes, which are often cheaper and come in fruit and candy flavors. “We have long advocated for stronger enforcement against illicit products,”…
By Dietrich Knauth Jan 29 (Reuters) – A U.S. district judge on Thursday dismissed a lawsuit alleging Johnson & Johnson committed fraud by repeatedly attempting to use a shell company’s bankruptcy to resolve tens of thousands of lawsuits claiming its baby powder and other talc products caused cancer. Filed by five cancer victims suing J&J over its talc products, the lawsuit alleged that the bankruptcy strategy was designed to put billions of dollars out of plaintiffs’ reach in order to “hinder, delay, and defraud these women and prevent them from ever having their day in court.” The lawsuit stemmed from…
Jan 30 (Reuters) – U.S. drugmaker Regeneron Pharmaceuticals beat analysts’ estimate for fourth-quarter profit on Friday, helped by strong demand for its eczema treatment, Dupixent. Dupixent, which Regeneron co-develops with French drugmaker Sanofi, has become an increasingly important growth driver as sales of its eye disease drug, Eylea, faces pressure from cheaper versions and rival treatments such as Roche’s Vabysmo. Investors are also focused on how Regeneron and Sanofi will mitigate a sales hit for Dupixent, which will lose key patents beginning in 2031. Sanofi Chief Financial Officer François-Xavier Roger said on Thursday the company would not be able to…
SHANGHAI, Jan 30 (Reuters) – Sciwind Biosciences’ type 2 diabetes treatment Xianyida was approved for use in China, the company said on Friday, adding another participant to a hot sector in the world’s second-largest pharmaceutical market. China has the highest number of adults with diabetes in the world, according to estimates from the International Diabetes Federation, and drugmakers including Novo Nordisk, Eli Lilly and Innovent Biologics have launched injectable medicines that are designed to support them. Hangzhou, China-based Sciwind’s injection, which is also known by the name ecnoglutide, belongs to a class of drugs called GLP-1 receptor agonists, which work…
WASHINGTON, Jan 30 (Reuters) – Eli Lilly announced on Friday that it will build a pharmaceutical manufacturing facility in Pennsylvania, its fourth new site in an effort to expand U.S. production and bolster medical supply chains. The $3.5 billion plant will make Lilly’s injectable weight-loss medications, including retatrutide, the company said in a statement. That next-generation obesity drug has outperformed Lilly’s blockbuster drug Zepbound. Drugmakers are rushing to expand U.S. production as President Donald Trump has threatened to impose import tariffs on pharmaceutical products. Companies including Lilly, Pfizer, and Merck have pledged billions in domestic investment to avoid penalties. Lilly…
Jan 30 (Reuters) – Moderna’s Chief Medical Officer Jacqueline Miller, who led the development of the company’s mRNA-based COVID-19 vaccine Spikevax, will step down effective March 2, the vaccine maker said on Friday. Miller joined Moderna in 2020 as the therapeutic area head for infectious diseases. Her departure comes at a pivotal moment for the company, which is seeking to plug the revenue gap left by waning demand for COVID products and turn its mRNA platform into a broader, durable franchise. Over her career, Miller has supported seven novel vaccine approvals for patients ranging from infants to older adults, including…
By Gnaneshwar Rajan and Sriparna Roy Jan 30 (Reuters) – Regeneron Pharmaceuticals’ executives voiced confidence in its experimental weight-loss drug on Friday, saying added cholesterol-lowering benefits could give the company an edge in an increasingly crowded obesity market. Several drugmakers are looking to grab a slice of the potential $150 billion weight-loss drug market, aiming to challenge the dominace of Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound. Last year, Regeneron signed an up to $2 billion licensing deal with Hansoh Pharmaceuticals for the experimental drug olatorepatide, which it believes is comparable to Eli Lilly’s Zepbound. Regeneron executives said on a…
By Bhanvi Satija LONDON, Feb 2 (Reuters) – French drugmaker Sanofi said on Monday that its experimental genetic disorder treatment showed promise in a late-stage study of patients with a type of Gaucher disease, but failed to meet the main goal in a separate trial. The oral drug, venglustat, was being tested in patients with Fabry disease and type 3 Gaucher disease. Both inherited conditions are caused by enzyme deficiencies that lead to the accumulation of toxic substances in the body. Previous failures in trials of patients with Parkinson’s disease and a type of acute kidney disease have prompted Sanofi…