Author: IQ TIMES MEDIA

CVS Health subsidiary Omnicare has filed for Chapter 11 bankruptcy protection two months after the long-term care business was ordered to pay $949 million when a federal court found it liable for filing fraudulent claims for some prescription drugs. In 2019 the federal government joined the legal fight against CVS Health that accused Omnicare business of routinely filling prescriptions that had expired or run out of refills. The Department of Justice said that Omnicare’s pharmacies sent drugs to people living in residential facilities based on “stale, invalid prescriptions.” It accused the company of fraudulently billing government-funded programs like Medicaid and…

President Donald Trump blasted Tylenol this week, promoting unproven links between the pain reliever and autism and pushing the well-established treatment into another national image crisis. “Don’t take Tylenol,” Trump instructed pregnant women around a dozen times during a White House news conference. He also urged mothers not to give infants the drug, known by the generic name acetaminophen in the U.S. or paracetamol in other countries. The attack on Tylenol by the U.S. president was unprecedented but not exactly new territory for one of the world’s most common pain relievers. Tylenol already has faced dozens of lawsuits regarding the…

LONDON (AP) — GSK Chief Executive Emma Walmsley, the first woman to lead a major pharmaceutical company, will step down Dec. 31 after more than eight years at the head of the London-based drugmaker. Walmsley, 56, will be replaced by Luke Miels, currently GSK’s chief commercial officer, the company said in a statement released on Monday. While GSK achieved a number of strategic successes under Walmsley, including the spinoff of the consumer health care business Haleon, it has disappointed investors. GSK’s shares rose 3.3% to 1534.50 pence in early trading, making it the biggest gainer on the London Stock Exchange.…

By Manya Saini (Reuters) -Electric aircraft maker Beta Technologies filed for an initial public offering in the United States on Monday, the latest company to join the rush to tap a record-breaking bull run in the equity market. Easing trade tensions, robust stock markets and pent-up investor demand have combined to create one of the busiest windows for listings in years, with technology, aerospace and green energy firms leading the charge. Beta Technologies designs, manufactures and sells high-performance electric aircraft, advanced electric propulsion systems, charging systems and components. Electric aviation remains a niche segment of the transportation industry, with only…

(Reuters) -Telehealth firm LifeMD said on Tuesday it would offer Danish drugmaker Novo Nordisk’s diabetes drug Ozempic at $499 per month to eligible U.S. patients. Eligible self-pay and uninsured patients, as well as insured patients whose plans do not cover GLP-1 therapies, will have access to all approved doses of Ozempic, the company said, referring to the class of treatments that help regulate appetite and glucose metabolism. Shares of the New York-based company were up 6.2% at $6.84 in early trading. Novo offers Ozempic for $499 a month to eligible cash-paying patients via its own pharmacy, NovoCare, and through tie-ups…

By Sriparna Roy (Reuters) -Crystalys Therapeutics said on Tuesday it has emerged from stealth mode with a funding round of $205 million to help finance global late-stage trials of its lead drug as a treatment for gout. The Series A financing round was co-led by Novo Holdings, the controlling shareholder of obesity drugmaker Novo Nordisk, SR One and Catalys Pacific, and had participation from other investors. The company, which had a pre-money valuation of $75 million, had closed an initial investment in June, and had been working with three to four additional investors for a second capital raise, CEO James…

(Corrects county exits in 2026 described in paragraph 3 to total 109 from 16, as UnitedHealth clarified an error in the initial figure the company gave.) By Amina Niasse NEW YORK (Reuters) -UnitedHealth said it will stop offering Medicare Advantage plans in 109 U.S. counties in 2026, impacting 180,000 members, as the company balances higher costs with reimbursement pressure in the insurance program. “The combination of (Centers for Medicare and Medicaid Services) funding cuts, rising healthcare costs and increased utilization have created headwinds that no organization can ignore,” said Bobby Hunter, who runs the company’s government programs. UnitedHealth is leaving…

(Reuters) -Takeda Pharmaceutical said on Wednesday it will stop its cell therapy initiatives and seek a partner to advance its research and clinic-ready programs in this field. The move marks a significant shift for the Japanese drugmaker, which had spent years trying to build a presence in cell therapy, particularly in cancer treatment. Takeda had discontinued the development of its blood cancer cell therapy candidate, TAK-007, last year, calling it a “data-driven decision.” The drugmaker said it will now focus on other treatment types, including small molecule drugs, biologics and antibody-drug conjugates – areas it believes can deliver innovative medicines…

(Reuters) -Humana said on Thursday it has about 20%, or 1.2 million, of its members currently enrolled in Medicare Advantage plans rated 4 stars and above for 2026, based on preliminary data. Shares of the company rose 3.1% to $254.68 after the insurer also said that about 14% of its members were in 4.5-star plans in 2026, up from 3% in 2025, in a regulatory filing. Humana said that the preliminary 2026 star ratings were in line with its assumptions. Plans with higher star ratings mean bigger payments from the government to the insurer, and the bonus payments can be…

(Reuters) -The U.S. Food and Drug Administration has approved Jazz Pharmaceuticals’ combination therapy as a maintenance treatment for adult patients with a type of lung cancer, the regulator said on Thursday. Shares of the drugmaker were up 1.6% at $139.30 in extended trade. The drug, Zepzelca, in combination with Roche’s Tecentriq, is approved for patients with extensive-stage small cell lung cancer, whose disease has not progressed after initial chemotherapy. This is an aggressive form of lung cancer that may spread to other parts of the body including the bone marrow. Zepzelca is already approved as a second-line treatment — given…