Author: IQ TIMES MEDIA
WASHINGTON, Jan 30 (Reuters) – Eli Lilly announced on Friday that it will build a pharmaceutical manufacturing facility in Pennsylvania, its fourth new site in an effort to expand U.S. production and bolster medical supply chains. The $3.5 billion plant will make Lilly’s injectable weight-loss medications, including retatrutide, the company said in a statement. That next-generation obesity drug has outperformed Lilly’s blockbuster drug Zepbound. Drugmakers are rushing to expand U.S. production as President Donald Trump has threatened to impose import tariffs on pharmaceutical products. Companies including Lilly, Pfizer, and Merck have pledged billions in domestic investment to avoid penalties. Lilly…
Jan 30 (Reuters) – Moderna’s Chief Medical Officer Jacqueline Miller, who led the development of the company’s mRNA-based COVID-19 vaccine Spikevax, will step down effective March 2, the vaccine maker said on Friday. Miller joined Moderna in 2020 as the therapeutic area head for infectious diseases. Her departure comes at a pivotal moment for the company, which is seeking to plug the revenue gap left by waning demand for COVID products and turn its mRNA platform into a broader, durable franchise. Over her career, Miller has supported seven novel vaccine approvals for patients ranging from infants to older adults, including…
By Gnaneshwar Rajan and Sriparna Roy Jan 30 (Reuters) – Regeneron Pharmaceuticals’ executives voiced confidence in its experimental weight-loss drug on Friday, saying added cholesterol-lowering benefits could give the company an edge in an increasingly crowded obesity market. Several drugmakers are looking to grab a slice of the potential $150 billion weight-loss drug market, aiming to challenge the dominace of Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound. Last year, Regeneron signed an up to $2 billion licensing deal with Hansoh Pharmaceuticals for the experimental drug olatorepatide, which it believes is comparable to Eli Lilly’s Zepbound. Regeneron executives said on a…
By Bhanvi Satija LONDON, Feb 2 (Reuters) – French drugmaker Sanofi said on Monday that its experimental genetic disorder treatment showed promise in a late-stage study of patients with a type of Gaucher disease, but failed to meet the main goal in a separate trial. The oral drug, venglustat, was being tested in patients with Fabry disease and type 3 Gaucher disease. Both inherited conditions are caused by enzyme deficiencies that lead to the accumulation of toxic substances in the body. Previous failures in trials of patients with Parkinson’s disease and a type of acute kidney disease have prompted Sanofi…
By Maggie Fick, Bhanvi Satija and Mariam Sunny LONDON, Feb 2 (Reuters) – The long-held Wall Street expectation that the global market for obesity drugs would reach $150 billion in the next decade is looking a lot less certain with U.S. prices falling for GLP-1 treatments from Novo Nordisk and Eli Lilly and competition heating up in the cash-pay consumer market. The fast-changing landscape, which includes the expected entry of new drugs and generic competition, has led to a recalculation of what the peak will be and when those heights may be reached, analysts and investors say. “The peak has…
Feb 2 (Reuters) – DaVita projected annual profit above estimates on Monday after reporting better-than-expected fourth-quarter results on steady demand for its kidney dialysis services, sending its shares up 13% in after-hours trading. The company, which provides dialysis services at outpatient clinics and at home for patients with chronic kidney failure, signaled renewed momentum after dealing with rising patient care and operating costs in recent quarters. The Colorado-based company now expects its 2026 adjusted profit per share to be between $13.60 and $15. Analysts were expecting it to be $12.65 per share, according to data compiled by LSEG. Higher reimbursement…
By Byron Kaye SYDNEY, Feb 3 (Reuters) – Sleep-breathing device maker ResMed plans to take global a doctor education program aimed at promoting the screening of patients seeking Ozempic-style weight loss drugs for apnea, calling the GLP‑1 boom a lift, not a threat, to sales. ResMed, founded in Australia but now headquartered in California and which gains most of its revenue in the U.S, last week reported an 11% jump in second-quarter profit. Weight-loss drugs had helped sales of its devices that treat sleep apnea – a common disorder characterised by brief interruptions of breathing during sleep. The S+ by…
Feb 3 (Reuters) – Amgen on Tuesday reported fourth-quarter financial results that came in ahead of Wall Street expectations, driven by a 7% increase in drug sales and a lower tax rate. The California-based biotech company’s overall quarterly revenue rose 9% from a year earlier to $9.9 billion, which beat the average analyst estimate of $9.5 billion, according to LSEG data. Adjusted earnings per share were little changed from a year earlier at $5.29, but exceeded analysts’ expectations of $4.73. For 2026, Amgen said it expects adjusted earnings per share of $21.60 to $23.00, while Wall Street is estimating $22.09…
Feb 4 (Reuters) – Boston Scientific Corp forecast modest 2026 revenue growth and profit just below Wall Street expectations on Wednesday, overshadowing a strong fourth-quarter performance and sending its shares down more than 11% in premarket trading. The medical-device maker projected 2026 adjusted earnings per share of $3.43 to $3.49, with the midpoint at $3.46 falling short of the average analyst estimate of $3.47 per share, according to LSEG data. The subdued outlook comes as the Massachusetts-based company prepares to integrate its $14.5 billion acquisition of Penumbra, announced last month. The company also expects organic revenue growth of 10% to…
Feb 4 (Reuters) – AbbVie forecast 2026 profit above Wall Street estimates on Wednesday after posting a fourth-quarter results beat, fueled by strong demand for newer immunology drugs Skyrizi and Rinvoq and a smaller-than-expected decline in sales of its older medicine Humira. The drugmaker has been relying on Skyrizi and Rinvoq to counter a drop in Humira sales, which have been facing competition from cheaper biosimilars, or near copies of a biological drug. Humira was once the world’s top-selling drug, with peak global sales of more than $21 billion in 2022 before it lost patent exclusivity in the U.S. Since…