Author: IQ TIMES MEDIA

(Reuters) -Medical equipment maker Thermo Fisher beat analysts’ estimates for third-quarter revenue and profit on Wednesday, owing to strong demand for its tools and technologies that are used to develop therapies. Contract research firms such as Thermo Fisher are seeing renewed demand as pharmaceutical companies ramp up drug development and manufacturing, while benefiting from easing trade tensions. The Trump administration has extended some tariff exclusions in China through November 29, but signaled potential new duties, prompting Beijing to threaten countermeasures. China is a key source of raw ingredients and supplies for the pharmaceutical and medical device industries across the world.…

(Reuters) -Japan’s Takeda Pharmaceutical Co has signed a deal with Innovent Biologics to accelerate development of the Chinese drugmaker’s oncology medicines, it said on Wednesday. Takeda will help to develop Innovent’s non-small cell lung and colorectal cancer medicine candidate IBI363, and gastric and pancreatic cancer candidate IBI343. It also has an option to help develop another locally advanced or metastatic solid tumour medicine candidate IBI3001. Andy Plump, president of Research and Development at Takeda, said in a statement the company was encouraged by clinical results and looked forward to working with Innovent “to deliver these potentially best-in-class medicines to patients…

(Reuters) -Medtech firm Staar Surgical’s biggest investor, Broadwood Partners, is planning to call a shareholder meeting to remove several directors, it said on Wednesday, amid tensions over a proposed takeover by Swiss eyecare firm Alcon. Investment firm Broadwood has 27.5% stake and has actively opposed Alcon’s acquisition, saying the offer did not reflect Staar’s recent financial improvements and that the board has failed to fully assess alternative options. “It is clear to us that the board no longer has the confidence of shareholders, and that new directors are needed to properly steward the Company and restore shareholder trust,” Neal Bradsher,…

FRANKFURT (Reuters) -Swiss drugmaker Roche on Thursday lifted its full-year profit guidance, even after nine-month sales were burdened by foreign exchange effects to come in below expectations. In a statement, the group said it projected a gain in adjusted earnings per share in the “high single to low double digit” percentage range. The was up from a previous guidance for the figures to grow by a “high single digit” percentage. It confirmed its outlook for mid single-digit sales growth. The brighter earnings prospects, albeit excluding the foreign-exchange burden, could provide a tailwind for CEO Thomas Schinecker as he invests heavily…

By Kamal Choudhury (Reuters) -Moderna said on Wednesday it would stop developing its experimental vaccine to prevent cytomegalovirus, a virus that can cause birth defects, after it failed to meet the main goal of a late-stage trial. Shares of the drugmaker were down over 5% in extended trading following the news. The late-stage trial tested the vaccine, mRNA-1647, in about 7,500 women aged 16 to 40. The shot showed efficacy ranging between 6% and 23%, depending on how the cases were defined, which was below Moderna’s target. Cytomegalovirus is a common virus that usually causes mild illness. However, if passed…

By Sneha S K (Reuters) -Molina Healthcare shares fell 20% on Thursday, a day after the insurer cut its annual profit forecast for the third time this year, underscoring the strain of surging medical costs across government-backed health plans. The warning deepened investor worries around insurance plans related to the Affordable Care Act, also known as Obamacare, dragging down shares of Centene and Oscar Health about 7%. Larger rivals UnitedHealth and Cigna also fell about 1%. Molina’s decision to lower its annual adjusted profit forecast to about $14 per share, from at least $19 per share, was disproportionately influenced by…

By Sneha S K (Reuters) -Molina Healthcare shares fell 18% in premarket trading on Thursday, a day after the insurer cut its annual profit forecast for the third time this year, driven by higher medical costs on its government-backed plans. The results also dragged down shares of Centene and Oscar Health — with large businesses focused on Affordable Care Act plans — between 3% and 7%. Larger rivals UnitedHealth and Elevance also fell about 1.5% premarket. Molina’s new annual adjusted profit forecast of about $14 per share, down sharply from at least $19 per share, was disproportionately affected by “unprecedented”…

(Reuters) -The U.S. Food and Drug Administration has approved British drugmaker GSK’s blood cancer drug, Blenrep, in one combination regimen, the company said on Thursday, clearing the way for its return to the market nearly three years after it was withdrawn. The FDA approved Blenrep in combination with bortezomib and dexamethasone for patients with multiple myeloma whose disease has returned or stopped responding to treatment after at least one prior therapy. A second regimen pairing Blenrep with pomalidomide and dexamethasone, tested in a separate trial, was not included in the approval. U.S.-listed shares of the company were down 4% in…

(Reuters) -Biogen said on Friday it has gained global rights to privately held Vanqua Bio’s experimental drug for up to $1.06 billion to expand its pipeline of immunology drugs. The oral drug targets a protein involved in various inflammatory disorders and is currently in preclinical testing, the drugmaker said. Biogen has been expanding into immunology and rare disease medicines through acquisitions and partnerships to drive revenue growth as sales continue to dwindle for its older multiple sclerosis drugs due to rising competition. Last year, the drugmaker agreed to buy privately held Human Immunology Biosciences for up to $1.8 billion to…

Social Security checks at the U.S. Treasury printing facility in Philadelphia. (William Thomas Cain / Getty Images file) The Social Security Administration announced Friday that benefit payments will increase 2.8% next year to account for the higher cost of living. The 2026 cost-of-living adjustment, knowns as the COLA, represents an increase over last year’s 2.5% figure, but it is lower than the historical average of about 3.7%. Individual retirement benefits will climb an average of about $56 per month, the agency said in a statement. The COLA is typically calculated using benchmark inflation data from July, August, and September. While…