Author: IQ TIMES MEDIA
(Reuters) -Eli Lilly hit $1 trillion in market value on Friday, making it the first drugmaker to enter the exclusive club dominated by tech giants and underscoring its rise as a weight-loss powerhouse. Here are some reactions to Lilly joining the trillion dollar club: EVAN SEIGERMAN, ANALYST AT BMO CAPITAL MARKETS “The current valuation points to investor confidence in the longer-term durability of the company’s metabolic health franchise. It also suggests that investors prefer Lilly over Novo in the obesity arms race. Taking a step back, we’re also seeing money rotate into the sector as investors may be worried…
(Reuters) -Eli Lilly said on Friday it plans to roll out an employer-focused obesity care model early next year, aiming to expand access to its blockbuster weight-loss drug through partnerships with third-party firms. The program would give employers flexible cost-sharing options and integrate clinical support, Lilly said, bypassing traditional drug sales channels. “Obesity care is the next frontier in employer health benefits,” said Ilya Yuffa, Lilly executive vice president. “Companies that act now will lead the way, closing coverage gaps and building healthier, more resilient workforces.” Separately, companies, including digital health firm Waltz Health and cardiometabolic care provider 9amHealth announced…
(Reuters) -AstraZeneca said on Friday it will invest $2 billion to expand its manufacturing footprint in Maryland as part of its previously announced $50 billion plan to expand manufacturing and research capabilities in the U.S. by 2030. Global pharmaceutical companies have been ramping up investments in the United States to expand production capacity, following President Donald Trump’s call for the industry to make more medicines domestically instead of importing active ingredients or finished products. The Anglo-Swedish drugmaker’s $2 billion investment will help expand its biologics manufacturing facility in Frederick and construct a new state-of-the-art facility in Gaithersburg for the development…
(Reuters) -Shares of U.S. health insurers jumped on Monday following a media report the White House was preparing to unveil a policy framework that would extend Affordable Care Act premium subsidies – also known as Obamacare – for two years and add new eligibility limits. Shares of Centene (CNC) jumped about 7% and Molina Healthcare (MOH) gained around 4%, while Elevance Health climbed more than 2% in early trading. “I think this is a bit of a relief rally as the fate of ACA subsidies came under significant doubt after the government shutdown was resolved without an extension,” said James…
A higher Medicare premium set to go into effect in 2026 will push the monthly charge above $200 for the first time, with the increase likely to erode next year’s cost-of-living increase for millions of Social Security recipients. The premium for Medicare’s Part B, which covers doctor visits and other outpatient services, will rise 9.7% to $202.90, an increase of $17.90 from the current $185 monthly cost, the Centers for Medicare & Medicaid Services said earlier this month. It’s the largest increase since 2022, when the Part B premium jumped 15%. The Part B deductible — the amount seniors must…
Dec 1 (Reuters) – Eli Lilly said on Monday it has lowered the price of single-dose vials of its popular obesity drug Zepbound to make the treatment more affordable for U.S. patients, as demand for weight-loss therapies surge. Patients with a prescription can now buy the starting dose of 2.5 mg for $299 per month, down from $349, through LillyDirect, the drugmaker’s online healthcare platform. Price for the 5 mg dose drops to $399 from $499, while higher doses will now be available at $449 per month under Lilly’s Zepbound Self Pay Journey Program, down from $499 previously. The move…
By Dietrich Knauth Dec 1 (Reuters) – Genesis HealthCare said on Monday that an insider bid had won a bankruptcy auction for all of its assets, which would allow the same ownership group to maintain control of the company’s nursing homes while using bankruptcy to slash debts and medical malpractice claims. The winning bid was submitted by CPE 88988 LLC, an affiliate of Genesis’ private equity owner, Pima Capital Partners, according to court documents filed in bankruptcy court in Dallas. The bid includes $40 million in cash, as well as agreements to assume certain debts and bankruptcy expenses incurred by…
By Kamal Choudhury Dec 3 (Reuters) – Excelsior Sciences said on Wednesday it has raised $95 million to develop technology that uses machines and artificial intelligence to accelerate the development and testing of small molecules, aiming to cut years off drug discovery timelines. The company announced a $70 million Series A round co-led by Deerfield Management, Khosla Ventures and Sofinnova Partners, along with a $25 million grant from New York’s Empire State Development. It did not disclose the valuation at which the funds were raised. Small molecules make up the majority of medicines approved in the United States. While treatments…
By Rishika Sadam HYDERABAD, India, Dec 3 (Reuters) – Danish drugmaker Novo Nordisk will launch its blockbuster diabetes drug Ozempic in India this month, three sources familiar with the matter said, as it seeks to strengthen its foothold in the world’s most populous nation. India has the second-highest number of people with type 2 diabetes after China and rising obesity rates, making it a critical battleground for drugmakers vying for a share of the fast-growing weight-loss treatment market, which analysts expect to reach $150 billion annually by the end of the decade. Ozempic, a once-weekly injectable approved by the U.S.…
By Rishika Sadam and Abhirami G BENGALURU, Dec 5 (Reuters) – Indian health-tech startup Healthify is in talks to partner with more weight-loss drugmakers to offer health, nutrition and lifestyle coaching, after signing a deal with Novo Nordisk’s India unit, its chief executive said. The deal marks Healthify’s first such partnership with a drugmaker, and it hopes similar agreements will boost its paid subscriber base. Healthify, which provides health metric tracking along with nutrition and fitness advice, launched a patient-support programme this week through which it offers coaching services to users prescribed Novo’s weight-loss therapies. “Our vision is to be…