Author: IQ TIMES MEDIA
(Reuters) -Drug distributor McKesson raised its fiscal 2026 profit forecast on Wednesday, betting on strong growth in its oncology and specialty drug distribution businesses. Shares of the company rose about 2% in extended trading. Drug distributors in the United States are expanding their presence in the market for specialty medicines, which treat complex conditions such as rheumatoid arthritis and cancer, due to their high profit margins. McKesson now expects adjusted earnings per share in the range of $38.35 to $38.85 for fiscal 2026, compared to its previous outlook of $38.05 to $38.55 per share. Analysts, on average, expect a profit…
By Jonathan Stempel (Reuters) -Bristol Myers Squibb reached a $239 million settlement of claims that former Celgene shareholders were defrauded about prospects for the psoriasis drug Otezla, and multiple sclerosis treatment now known as Zeposia. A preliminary settlement of the 7-1/2-year-old class action was filed on Tuesday night in the federal court in Newark, New Jersey, and requires a judge’s approval. The former shareholders could receive about $159.3 million after legal fees and costs are deducted, court papers show. Bristol Myers bought Celgene for $80.3 billion in cash and stock in November 2019. In a statement on Wednesday, Bristol Myers…
(Reuters) -India’s Mankind Pharma reported a fourth straight quarter of profit fall on Thursday, as the government’s sweeping cuts on its goods and services taxes caused supply chain disruptions, weighing on sales volume. The company, which makes ‘Manforce’ condoms and ‘Gas-O-Fast’ antacid tablets, said consolidated net profit fell nearly 22% to 5.12 billion rupees in the second quarter ended September 30. Revenue rose 20.8% to 36.97 billion rupees. KEY CONTEXT: Mankind’s chronic illness drugs segment continued to do well, with its domestic market share rising 1.9%, led by demand for its anti-diabetic and cardiovascular medication. The firm and its peer…
By Patrick Wingrove (Reuters) -Moderna lowered the top end of its 2025 revenue forecast by $200 million on Thursday, citing weaker-than-expected sales of its COVID-19 vaccine in the U.S. as Americans struggled to access the shots. The company said it now expects revenue of $1.6 billion to $2 billion for the year, down from its previous forecast of $1.5 billion to $2.2 billion. Moderna reported third-quarter revenue of $1 billion, a 45% drop from a year ago, but ahead of analysts’ estimates of $886.54 million, according to LSEG data. Moderna reported a quarterly loss of 51 cents per share, far…
(Reuters) -India’s GlaxoSmithKline Pharmaceuticals reported slightly higher second-quarter profit on Thursday, led by steady demand for its specialty medicine portfolio. The Indian unit of British drugmaker GSK reported consolidated profit of 2.57 billion rupees ($29 million) in the quarter ended September 30, up 2% from last year. Its revenue from operations decreased 3% to 9.8 billion rupees, down for a second quarter in a row. KEY CONTEXT GlaxoSmithKline Pharma, an industry leader in pediatric vaccines, is making inroads into the adult vaccine market with its shingles vaccine Shingrix, which has boosted earnings. Supply constraints and the transitory impact of GST…
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Novo Nordisk said on Thursday its experimental obesity drug CagriSema significantly reduced blood pressure in a late-stage trial, as the Danish drugmaker seeks to demonstrate health benefits beyond weight loss for a treatment that has disappointed investors. Novo had positioned CagriSema as a more potent successor to its blockbuster Wegovy, but lower-than-expected weight loss data published in December wiped $125 billion from its market value. The underwhelming results prompted Novo to launch a new late-stage trial in June. The drug combines cagrilintide, which mimics the pancreatic hormone amylin, and semaglutide, the active ingredient in Wegovy.…
(Reuters) -Pfizer and Novo Nordisk are locked in a bidding war for biotech firm Metsera as the pharmaceutical giants seek to augment their pipeline in the booming weight-loss drug market. WHAT IS METSERA? Metsera is a New York-based clinical-stage biotech firm focused on developing treatments for obesity and metabolic diseases. Founded in 2022 by Population Health Partners and ARCH Venture Partners, the company went public on Nasdaq in January 2025 with an initial valuation of $2.7 billion. Since then, its market value has ballooned to about $7.5 billion as of Wednesday’s close of trading. Novo Nordisk has offered to buy…
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Novo Nordisk said on Thursday its experimental obesity drug CagriSema significantly reduced blood pressure in a late-stage trial, as the Danish drugmaker seeks to demonstrate health benefits beyond weight loss for a treatment that has disappointed investors. Novo had positioned CagriSema as a more potent successor to its blockbuster Wegovy, but lower-than-expected weight loss data published in December wiped $125 billion from its market value. The underwhelming results prompted Novo to launch a new late-stage trial in June. The drug combines cagrilintide, which mimics the pancreatic hormone amylin, and semaglutide, the active ingredient in Wegovy.…
(Reuters) -Pfizer and Novo Nordisk are locked in a bidding war for biotech firm Metsera as the pharmaceutical giants seek to augment their pipeline in the booming weight-loss drug market. WHAT IS METSERA? Metsera is a New York-based clinical-stage biotech firm focused on developing treatments for obesity and metabolic diseases. Founded in 2022 by Population Health Partners and ARCH Venture Partners, the company went public on Nasdaq in January 2025 with an initial valuation of $2.7 billion. Since then, its market value has ballooned to about $7.5 billion as of Wednesday’s close of trading. Novo Nordisk has offered to buy…
(Reuters) -Novavax raised its annual revenue forecast for the third time this year on Thursday, banking on milestone payments from vaccine supply and licensing deals such as with Japan’s Takeda Pharmaceuticals. The upbeat outlook comes as the Gaithersburg, Maryland-based biotech faces persistent investor pressure over underwhelming sales of its COVID-19 vaccine, Nuvaxovid. Its second-largest shareholder, hedge fund Shah Capital, had last month called on the board to consider a sale of the company, citing a third consecutive year of weak COVID vaccine sales. Meanwhile, the company is focused on partnerships with firms such as France’s Sanofi, Takeda and Serum Institute…