Author: IQ TIMES MEDIA
Feb 23 (Reuters) – Japan’s Astellas and Vir Biotechnology said on Monday they will together develop and commercialize the U.S. drug developer’s prostate cancer experimental drug. Vir will receive $335 million in upfront and near-term payments under the deal, including $240 million in cash, $75 million in equity investment at a 50% premium, and a near-term $20 million milestone, the companies said. The company will also be eligible to receive up to $1.37 billion in milestone payments, plus double‑digit royalties on sales outside the United States. Astellas will lead the U.S. commercialization of VIR‑5500, and have the exclusive rights outside…
By Arasu Kannagi Basil Feb 24 (Reuters) – Medtronic’s MiniMed Group said on Tuesday it was targeting up to $7.86 billion valuation in its U.S. initial public offering, marking a step forward in the medical device maker’s plan to separate its diabetes business. The Northridge, California-based unit, a heavyweight in diabetes care and which makes products such as insulin pumps, glucose monitoring systems and sensors, is seeking to raise up to $784 million in its IPO by offering 28 million shares priced between $25 and $28 apiece. “With over 40 years of insulin pump manufacturing, MiniMed enters the market as…
Novo Nordisk said Tuesday it will slash its prices for Wegovy and Ozempic beginning next year by up to 50%, highlighting the growing competition among pharmaceutical firms for customers seeking weight-loss drugs. The Danish drugmaker said it plans to offer the medicines for $675 per month starting in January 2027, representing a 50% reduction in price for Wegovy and a 35% reduction for Ozempic. Novo Nordisk will also sell Rybelsus, a pill for adults with type 2 diabetes that is sometimes used for weight loss, for the same price. Novo Nordisk’s decision comes as it competes with Eli Lilly, which…
Feb 25 (Reuters) – Novartis said on Wednesday it intends to build a radioligand therapy manufacturing site in Texas, expanding its U.S. footprint with what will be its first such facility in the state and fifth nationwide. The investment is part of the Swiss drugmaker’s previously announced plan to spend $23 billion to build and expand facilities in the U.S., as global drugmakers rush to shore up their domestic manufacturing capacity and inventory in response to the Trump administration’s hefty tariffs on pharmaceutical imports into the country. “The addition of our fifth RLT manufacturing site in the U.S. strengthens our…
SHANGHAI, Feb 26 (Reuters) – Jiuyuan Genetic Biopharmaceutical has applied for approval to sell its experimental biosimilar version of Novo Nordisk’s blockbuster weight-loss drug Wegovy in China, the Chinese drugmaker said Wednesday. The move comes ahead of a key patent expiry in the world’s second largest pharmaceutical market. In a filing, Jiuyuan, based in the eastern city of Hangzhou, told the Hong Kong stock exchange it was seeking approval to sell Jikeqin for weight management to the obese or overweight. Biosimilars are close copies of biological drugs. Jiuyuan said results of a Phase III trial in subjects with obesity showed…
Feb 25 (Reuters) – Sarepta Therapeutics CEO Douglas Ingram has decided to step down by the end of 2026 or upon the appointment of his replacement, the company said in a regulatory filing. The company said it has commenced a search for his replacement. * The company had a tumultuous 2025 after its gene therapy,Elevidys, for a type of muscle disorder led to the deaths of twopatients and falling sales * The U.S. Food and Drug Administration last year askedSarepta to voluntarily halt shipments of Elevidys and said itwas investigating the deaths linked to the therapy * The company announced…
Feb 27 (Reuters) – U.S. packaged food makers and retailers have rolled out plans to eliminate the use of ingredients such as FD&C colors — a category of synthetic dyes — and sweeteners like corn syrup from their products, responding to the “Make America Healthy Again” initiative and changing consumer preferences. Retail giant Target on Friday became the latest, saying it will only carry cereals made without certified synthetic colors. Health Secretary Robert F. Kennedy Jr. and the U.S. health regulator had said in April last year the agency aims to remove ingredients, including artificial food colors, citing concerns about…
Feb 27 (Reuters) – Merck will lay off about 150 employees across its facility in North Carolina that manufactures its human papillomavirus vaccine, Gardasil, according to a notice filed in the state’s database this week. Shares of Merck were up 3% in afternoon trading. Gardasil has been one of Merck’s top growth drivers after blockbuster cancer immunotherapy Keytruda, and much of its international growth has come from China. But the company halted shipments of the vaccine to China last year due to weak demand, driving a 39% slump in the shot’s global sales in 2025. The vaccine protects against HPV…
Feb 27 (Reuters) – Target said on Friday it would sell only cereals made without certified synthetic colors by the end of May, becoming the latest retailer to tighten standards amid a crackdown on artificial dyes. The big-box retailer said it has worked closely with national and owned-brand partners to reformulate products where needed, and the decision applies to cereals sold both in-store and online. Packaged food makers such as PepsiCo, Campbell’s and Conagra Brands had announced last year that they would cut artificial dyes, responding to the Trump administration’s “Make America Healthy Again” initiative and Health Secretary Robert F.…
Target will stop selling cereals containing synthetic colors by the end of May. The Minneapolis-based discounter said Friday it had been phasing out synthetic colors in cereals for several years. Right now, 85% of its cereal sales already come from products made without synthetic dyes. Target said it has worked with national brands and its private brands to reformulate products as needed. Some cereals — including Trix and Lucky Charms, which are made by General Mills — will have updated formulations, Target said. Target said it will no longer carry brands that don’t reformulate, but it didn’t name the brands.…