Author: IQ TIMES MEDIA

By Siddhi Mahatole (Reuters) -Drug distributor Cardinal Health raised its annual adjusted profit forecast on Thursday after beating estimates for first-quarter profit on strong demand for costly specialty medicines and branded drugs at its pharmaceuticals unit. Shares of the Dublin, Ohio-based company rose 17.7% in early trading. Drug distributors have been benefiting from sales of specialty medicines, which are used to treat complex conditions like rheumatoid arthritis and cancer, due to their high profit margins. They have also benefited from sales of cheaper versions of complex biotech drugs called biosimilars at a time when prices of generic medicines have been…

The market for obesity and diabetes treatments remains scorching hot, funneling billions in sales to Eli Lilly and fueling a bidding war over another drugmaker. Lilly said Thursday that its top-selling drugs, Mounjaro and Zepbound, brought in more than $10 billion combined during the recently completed third quarter. That made up over half of the drugmaker’s $17.6 billion in total sales. Separately, Danish drugmaker Novo Nordisk announced plans to buy Metsera Inc. in a deal that could be worth up to $9 billion. That came more than a month after U.S. drugmaker Pfizer Inc. made a nearly $5 billion bid…

By Michael Erman and Puyaan Singh (Reuters) -Bristol Myers Squibb beat Wall Street estimates for third-quarter revenue on Thursday, as strong growth of its cancer immunotherapy and blood thinner Eliquis helped the drugmaker overcome a hit from generic competition for several older drugs. Shares of the company were up 3.5% at $44.08. Bristol Myers also raised its full-year revenue forecast, reflecting optimism that its portfolio of recently launched drugs will plug a multibillion-dollar revenue gap from patent expirations that open several best-selling drugs to competition. CEO Christopher Boerner has also aggressively pursued acquisitions and partnerships to fill Bristol Myers’ pipeline.…

By Mrinalika Roy and Patrick Wingrove (Reuters) -Eli Lilly raised its full-year profit and revenue forecasts on Thursday as strong overseas demand for weight-loss and diabetes drugs helped it breeze past Wall Street’s third-quarter earnings expectations. Shares of the world’s largest healthcare company by market value were up nearly 2% in morning trading even as investors remain wary of drug price negotiations with the Trump administration. “International Mounjaro demand was a strong driver of the beat and raise this quarter, which is a fantastic factor that shows the dynamicism of the Eli Lilly business model,” said Kevin Gade, chief operating…

By Deena Beasley (Reuters) -Gilead Sciences said on Thursday its HIV drug sales rose 4% to $5.3 billion in the third quarter including $39 million for its new prevention drug Yeztugo, helping to boost its profit. Overall product sales, however, fell 2% to $7.3 billion due to lower COVID-19 and cancer cell therapy sales. Gilead shares closed down a fraction and fell 1% to $117 in after-hours trading. Wall Street expected sales of Yeztugo, which has an annual U.S. list price of about $28,000, at $37.5 million, according to LSEG. The drug is a twice-yearly injection approved by U.S. regulators…

By Deena Beasley (Reuters) -Gilead Sciences said on Thursday its HIV drug sales rose 4% to $5.3 billion in the third quarter including $39 million for its new prevention drug Yeztugo, helping to boost its profit above Wall Street estimates. Wall Street expected sales of Yeztugo, which has an annual U.S. list price of about $28,000, at $37.5 million, according to LSEG. The drug is a twice-yearly injection approved by U.S. regulators in June to prevent HIV in adults and adolescents at high risk of contracting the deadly infection. “We are really pleased with the progress of the Yeztugo launch,”…

(Reuters) -Biogen beat Wall Street estimates for third-quarter profit, helped by better-than-expected sales of some of its multiple sclerosis treatments. The company, however, cut its annual profit forecast as it expects to take a hit of $1.25 per share from research and development charges related to certain acquisitions in the fourth quarter. Biogen said it is pursuing deals to build its early-stage pipeline amid declining sales of its once top-selling multiple sclerosis medicines in the face of stiff competition in a crowded treatment market. “We expect to announce at least another one, if not two, further research-stage deals by the…

(Corrects period in paragraph 11 to third quarter from second quarter) (Reuters) -Biogen cut its annual profit forecast on Thursday, as it expects to take a hit of $1.25 per share from R&D related charges tied to certain acquisitions in the fourth quarter. The drugmaker, however, beat Wall Street estimates for third-quarter profit, helped by better-than-expected sales of its multiple sclerosis treatments, which now face stiff competition in a crowded treatment market. Biogen has also reported steady growth for its keenly-watched Alzheimer’s treatment Leqembi, which has struggled with a slow start due to concerns over cost, efficacy and side effects.…

By Bhanvi Satija LONDON (Reuters) -Metsera has become the obesity drug market’s hottest ticket. The New York-based biotech is at the centre of a bidding war between Novo Nordisk and Pfizer, both vying for access to its pipeline of experimental treatments as competition intensifies in the booming $150 billion weight-loss drug market. Metsera’s lead candidate, MET-097i, is a once-monthly GLP-1 injectable. Unlike Novo’s Wegovy and Eli Lilly’s Zepbound, which are both weekly shots, it works by selectively binding to a protein pathway linked to weight loss and insulin release, potentially reducing side effects and dosing frequency. PROMISING CANDIDATES IN THE…

By Anuja Bharat Mistry (Reuters) -Colgate-Palmolive cut its annual sales forecast on Friday, in a sign that rising economic uncertainty is reducing consumer spending on higher-priced items, even in essential categories such as oral and personal care. The maker of Colgate toothpaste and Palmolive soap has been raising prices in most markets to counter the impact of U.S. tariffs, pushing shoppers towards cheaper alternatives. While prices rose 2.3% during the third quarter, volumes fell 1.9%, compared to a year ago. “Consumers still remain relatively weak across North America,” said CEO Noel Wallace during the post-earnings call, adding that discount seeking…