Author: IQ TIMES MEDIA

(Reuters) -Peter Marks, the former top vaccine regulator who was ousted from the U.S. Food and Drug Administration earlier this year, has joined Eli Lilly, the drugmaker told Reuters on Tuesday. Marks will oversee molecule discovery and infectious diseases at Lilly Research Laboratories. “Peter’s expertise strengthens our abilities across multiple areas, both in our existing portfolio and in our work in emerging areas,” the company told Reuters. Marks, who played a key role in U.S. President Donald Trump’s first term in developing COVID-19 vaccines, resigned in March after being forced out by U.S. Health Secretary Robert F. Kennedy Jr. Shares…

(In paragraph 8, removes reference to the layoff of a strategic communications manager) By Maggie Fick and Soren Jeppesen LONDON/COPENHAGEN (Reuters) -Wegovy-maker Novo Nordisk has laid off dozens of employees at the largest U.S. manufacturing site for its blockbuster obesity and diabetes drugs, a Reuters review of LinkedIn posts showed, a signal of where it is making cuts in a major restructuring under new CEO Mike Doustdar. The previously unreported cuts included staff in manufacturing roles, from quality control to production line technicians, at Novo’s major Clayton, North Carolina, plant and other facilities in the state, an analysis of 73…

(Reuters) -Acadia Healthcare said on Tuesday it has appointed Todd Young as chief financial officer, amid growing pressure from activist investors to improve performance and governance. Young takes over on October 27 from Tim Sides, who had served as interim CFO since August and will return to his role as senior vice president of operations finance. Young joins Acadia from Elanco Animal Health, where he served as CFO since 2018, helping shape the company’s strategy following its separation from Eli Lilly. The appointment at Acadia comes as it faces calls for strategic changes from two of its largest shareholders —…

By Karl Plume CHICAGO (Reuters) -For years, sugar beets were a lifeline for American farmers. More than half of domestically produced sugar comes from the white-fleshed root crops, and robust demand from the world’s top sugar-consuming nation has shielded growers from more volatile crops like corn, soybeans and wheat. But not this year. A dramatic drop in U.S. consumption and excess imports have ballooned stockpiles. Refined beet sugar prices are down 33% from a year ago, their lowest level since 2019, and a sugar supply glut is projected to last through at least 2026. The culprit? Americans are simply eating…

By Sneha S K and Siddhi Mahatole (Reuters) -Peter Marks, the former top vaccine regulator who was ousted from the U.S. Food and Drug Administration earlier this year, has joined Eli Lilly, the drugmaker told Reuters on Tuesday. Marks will oversee molecule discovery and infectious diseases at Lilly, starting this month. “Peter’s expertise strengthens our abilities across multiple areas, both in our existing portfolio and in our work in emerging areas,” the company said. Lilly added it continually evaluates breakthrough science which could benefit patients. Marks, who played a key role in U.S. President Donald Trump’s first term in developing…

(Reuters) -Latin American e-commerce firm MercadoLibre will test the waters for online pharmaceutical sales in Brazil through its newly acquired drugstore, its local head said on Thursday, a first step in entering the country’s multi-billion-dollar online medicine market. Uruguay-based MercadoLibre, Latin America’s largest company by market cap, already sells medicines online in Mexico, Argentina, Chile and Colombia, but not in Brazil, the firm’s largest market. In a call with journalists, executive Fernando Yunes confirmed recent media reports that MercadoLibre had acquired a physical drugstore in Brazil, a requirement under local law for companies selling pharmaceuticals. Yunes said the company does…

By Christy Santhosh (Reuters) -Drugmaker Bristol Myers Squibb said on Friday it will acquire privately held cell therapy developer Orbital Therapeutics for $1.5 billion in cash, aiming to diversify from legacy products facing competition from generic drugs. The deal expands Bristol Myers Squibb’s CAR T-cell immunotherapy portfolio with Orbital’s lead experimental candidate, OTX-201, which is designed to target autoimmune diseases. This marks the company’s first major acquisition of the year, as it shifts focus beyond established blockbusters, such as the blood thinner Eliquis and cancer drug Revlimid, to reassure investors that its newer therapies can drive future growth. BMO Capital…

(Reuters) -Johnson & Johnson is in discussions to buy Protagonist Therapeutics, a source familiar with the matter told Reuters. Shares of Protagonist surged more than 30% in afternoon trading. The company had a market capitalization of $4.2 billion as of Thursday’s close. The two companies are working on the development of an oral treatment, icotrokinra, for immune diseases, including plaque psoriasis and ulcerative colitis, with J&J holding the exclusive rights to commercialize the product. Leerink Partners analysts believe icotrokinra could be “one of the most impactful immunology drug launches of this decade,” and estimate its peak global sales could reach…

(Reuters) -Novo Nordisk has cut its cell therapy division, where it was trying to find a cure for type 1 diabetes, Bloomberg News reported on Friday. It also cited Danish newspaper Borsen, which reported that the company would lay off nearly all of the unit’s 250 employees. Novo was testing its cell therapy to generate insulin-producing beta cells for patients with type 1 diabetes in a preclinical study, along with another cell therapy candidate for Parkinson’s disease in early-stage trials. The latest move is part of CEO Mike Doustdar’s plan to reduce headcount by 11% and reallocate resources to high-priority…

By Bhanvi Satija and Maggie Fick LONDON (Reuters) -Wall Street is looking to U.S. drugmaker Eli Lilly and Anglo-Swedish rival AstraZeneca as the potential next in line after Pfizer struck a deal with Donald Trump’s administration to lower drug prices last week. Reuters spoke to seven healthcare analysts and investors. Four said Lilly could be next to make a deal, while three pointed to AstraZeneca. Others mentioned Merck, AbbVie, Regeneron and Bristol-Myers Squibb. Reuters could not independently confirm any such deals were in the offing, but drugmakers have been jostling to get a deal after Pfizer’s September 29 agreement that…