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US judge upholds Medicare drug price negotiation program

UPDATE 3-US judge upholds Medicare drug price negotiation program Adds comment from US Secretary of Health and Human Services in paragraph 3, expands comment from AstraZeneca in paragraph 4 By Brendan Pierson March 1 (Reuters) - A federal judge in Delaware on Friday upheld a law that requires some drugmakers to negotiate prices with the U.S government's Medicare health insurance program, rejecting a challenge by AstraZeneca AZN.L to one of Democratic President Joe Biden's signature initiatives.
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Third US judge upholds Medicare drug price negotiation program

CORRECTED-UPDATE 1-Third US judge upholds Medicare drug price negotiation program Corrects headline and paragraph 4 to state that ruling is third for the Biden administration, not the second By Brendan Pierson March 1 (Reuters) - A federal judge in Delaware on Friday upheld a law that requires some drugmakers to negotiate prices with Medicare, one of President Joe Biden's signature initiatives, rejecting a challenge by AstraZeneca AZN.L .
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Pfizer says its RSV shot is protective through a second year

Pfizer says its RSV shot is protective through a second year NEW YORK, Feb 29 (Reuters) - Pfizer PFE.N on Thursday said a single dose of its new respiratory syncytial virus (RSV) vaccine Abrysvo maintained its ability to protect against the illness through a second year of respiratory disease season. The company said in a press release that the vaccine's efficacy against RSV-associated lower respiratory tract disease with three or more symptoms was 77.8% through season two, compared with efficac
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What to Watch in the Day Ahead - Thursday, February 29

What to Watch in the Day Ahead - Thursday, February 29 The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at DAY/US . Thomson One users can register at RT/DAY/US. All times in ET/GMT On the U.S. economic front, a report from the Bureau of Economic Analysis is expected to show personal consumption expenditures (PCE) price index increased by 0.3% in January, after rising 0.2
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US, Canadian companies kick off 2024 with layoffs

FACTBOX-US, Canadian companies kick off 2024 with layoffs Adds Bumble Feb 28 (Reuters) - Companies in the United States and Canada have kicked off 2024 with thousands of job cuts across sectors, signaling that the spate of layoffs seen in 2023 could persist as they scramble to rein in costs. While job cut announcements in the United States more than doubled month-on-month to 82,307 in January, they were down 20% from a year earlier, according to a report by outplacement firm Challenger, Gray & C
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Novavax falls on downbeat Q4 results

BUZZ-Novavax falls on downbeat Q4 results ** Shares of COVID-19 vaccine maker Novavax NVAX.O fall 19.3% to $4.88 premarket ** Company reports larger-than-expected Q4 loss and misses revenue estimates ** Says it expects 2024 sales to be flat or lower as it works to pick up market share from much larger rivals Pfizer PFE.N and Moderna MRNA.O ** Compa
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Viatris forecasts strong 2024 sales on higher demand for branded drugs

Viatris forecasts strong 2024 sales on higher demand for branded drugs Feb 28 (Reuters) - Drugmaker Viatris VTRS.O forecast annual revenue above Wall Street estimates on Wednesday, banking on strong demand for its branded drugs such as Yupelri for lung disease and Breyna for asthma. The company said it expects 2024 revenue to be in the range of $15.25 billion to $15.75 billion, the midpoint of which is above analysts' average expectation of $15.30 billion, according to LSEG data.
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Novavax says still faces strong headwinds, 2024 sales flat to lower

UPDATE 2-Novavax says still faces strong headwinds, 2024 sales flat to lower Changes headline, updates share price in paragraph 2, adds U.S. sales estimate in paragraph 3 By Michael Erman Feb 28 (Reuters) - COVID-19 vaccine maker Novavax NVAX.O on Wednesday said it still faces significant financial difficulties and expects revenue this year to be flat or lower as it works to pick up U.S.
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Novavax sees 2024 sales flat to lower, aims to pick up COVID vaccine market share

Novavax sees 2024 sales flat to lower, aims to pick up COVID vaccine market share By Michael Erman Feb 28 (Reuters) - COVID-19 vaccine maker Novavax NVAX.O on Wednesday said it expects revenue this year to be flat or lower as it works to improve its commercial performance and pick up market share from much larger rivals, Pfizer PFE.N and Moderna MRNA.O .
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Health Rounds: Antibody response to mRNA COVID vaccines longer lasting than previously believed

Health Rounds: Antibody response to mRNA COVID vaccines longer lasting than previously believed Let us know what you think of the Health Rounds newsletters and whether you have ideas to improve them. We have a brief survey for you, here . Thank you! By Nancy Lapid Feb 27 (Reuters) - Hello Health Rounds Readers! Today we highlight a large study that found the response to the most widely used COVID-19 vaccines does not wear off quickly.
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Drugmakers deepen efforts to tap into booming market for obesity drugs

FACTBOX-Drugmakers deepen efforts to tap into booming market for obesity drugs Updates data from Viking Therapeutics in paragraphs 1, 19 and 20 Feb 27 (Reuters) - Viking Therapeutics VKTX.O said on Tuesday its experimental drug helped patients with obesity achieve "significant" weight loss in a mid-stage study. Novo Nordisk and Eli Lilly LLY.N are so far the leaders in the weight-loss drug market, estimated to be worth $100 billion by the end of the decade, with their powerful new drugs Wegovy a
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Moderna falls after HSBC downgrades to 'reduce'

BUZZ-Moderna falls after HSBC downgrades to 'reduce' ** Shares of Moderna MRNA.O fall 1.5% to $94.98 premarket ** Brokerage HSBC downgrades stock to "reduce" rating from "hold", raises PT to $86 from $75 ** New price target represents 10.8% downside to stock's last close ** "We are sceptical, noting RSV vaccine efficacy concerns" - HSBC ** Wall Str
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Prices for new US drugs rose 35% in 2023, more than the previous year

ANALYSIS-Prices for new US drugs rose 35% in 2023, more than the previous year By Deena Beasley Feb 23 (Reuters) - Pharmaceutical companies last year launched new U.S. drugs at prices 35% higher than in 2022, reflecting in part the industry's embrace of expensive therapies for rare diseases like muscular dystrophy, a Reuters analysis found. The median annual list price for a new drug was $300,000 in 2023, according to the Reuters analysis of 47 medicines, up from $222,000 a year earlier .
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Moderna reports surprise profit, sets out road map for RSV vaccine

UPDATE 2-Moderna reports surprise profit, sets out road map for RSV vaccine Updates shares in paragraph 2, adds analyst comments in paragraphs 8 and 14, company comment in paragraphs 10 and 17 By Patrick Wingrove and Leroy Leo Feb 22 (Reuters) - Moderna MRNA.O on Thursday reported a surprise fourth-quarter profit, helped by cost cutting and deferred payments, and set out a commercial roadmap for its vaccines in Europe and experimental respiratory syncytial virus (RSV) shot.
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Moderna reports surprise profit, sets out road map for RSV vaccine

Moderna reports surprise profit, sets out road map for RSV vaccine By Patrick Wingrove and Leroy Leo Feb 22 (Reuters) - Moderna MRNA.O on Thursday reported a surprise fourth-quarter profit helped by cost cutting and some deferred payments, and the vaccine maker set out a commercial roadmap for its experimental respiratory syncytial virus (RSV) shot. Moderna posted a profit of $217 million, or 55 cents a share, for the quarter.
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WPP sees signs of optimism among key U.S. clients

UPDATE 2-WPP sees signs of optimism among key U.S. clients WPP's organic like-for-like revenue rose by expected 0.9% Sees flat to 1% growth this year, margin improvement CEO seeing signs of U.S. optimism, but no quick fix Adds new CEO comments in paragraphs 6-7, 10-11, shares in paragraph 8 By Paul Sandle LONDON, Feb 22 (Reuters) - WPP WPP.L , the advertising group that owns Ogilvy and GroupM, said clients in the United States were starting to feel more positive but it would see little or no ups
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Too many drugmakers drool at anti-obesity trough

BREAKINGVIEWS-Too many drugmakers drool at anti-obesity trough The author is a Reuters Breakingviews columnist. The opinions expressed are his / her own. Refiles to add links By Robert Cyran NEW YORK, Feb 21 (Reuters Breakingviews) - Envy is building up in the gluttony business. Anti-obesity drugs have turned Novo Nordisk NOVOb.CO into Europe’s most valuable company, after its market capitalization doubled to exceed $400 billion in less than two years, while Eli Lilly’s LLY.N doubled even mo
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GSK's injectable HIV drug shows promise over daily pills

GSK's injectable HIV drug shows promise over daily pills Feb 21 (Reuters) - British drugmaker GSK GSK.L said on Wednesday its long-acting injectable HIV therapy showed promise in keeping the viral load suppressed compared to daily oral treatment, especially in individuals facing challenges with pill intake. The interim analysis of a late-stage trial on the therapy known as Cabenuva demonstrated superior efficacy in maintaining viral load suppression compared to daily oral therapy in individuals
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Amazon to replace Walgreens in Dow Jones Industrial Average

UPDATE 2-Amazon to replace Walgreens in Dow Jones Industrial Average Adds detail on changes to Dow, investor quote, background on companies By Noel Randewich and Caroline Valetkevitch Feb 20 (Reuters) - Amazon AMZN.O is set to join the Dow Jones Industrial Average, replacing Walgreens Boots Alliance WBA.O effective next week, S&P Dow Jones Indices said on Tuesday.
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Pfizer Says European Commission Approves Velsipity® For Patients With Moderately To Severely Active Ulcerative Colitis

BRIEF-Pfizer Says European Commission Approves Velsipity® For Patients With Moderately To Severely Active Ulcerative Colitis Feb 19 (Reuters) - Pfizer Inc PFE.N : EUROPEAN COMMISSION APPROVES PFIZER’S VELSIPITY® FOR PATIENTS WITH MODERATELY TO SEVERELY ACTIVE ULCERATIVE COLITIS Source text for Eikon: ID:nBwfXsVRa Further company coverage: PFE.N
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