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☆ Healthy Returns: Eli Lilly, Novo Nordisk make progress toward boosting weight loss drug supply
▼ + stars: | 2024-05-07 | by ( Eduardo Munoz | ) www.cnbc.com time to read: +3 min

A highly popular group of weight loss and diabetes drugs is still hard to find in the U.S. The dominant manufacturers of those treatments, Eli Lilly and Novo Nordisk , are making progress toward changing that. Patients using current autoinjectors for weight loss and diabetes drugs go through four different pens per month. Eli Lilly expects supply for Zepbound, Mounjaro and other incretin drugs to remain "quite tight" in the near- to mid-term as demand remains high, Ashkenazi said. On the day Eli Lilly reported earnings, shares of the company jumped more than 5% on the raised guidance and supply updates.

Persons: Eli Lilly, Anat Ashkenazi, There's, Ashkenazi, David Ricks, —, Lilly, Chris Schott Organizations: U.S, Novo Nordisk, Nexus Pharmaceuticals, JPMorgan Locations: North Carolina, Indiana, Ireland, Germany, Europe, U.S

☆ Amgen, newer rivals could threaten Novo Nordisk and Eli Lilly's weight loss drug dominance
▼ + stars: | 2024-05-07 | by ( Scott Olson | Getty Images | ) www.cnbc.com time to read: +10 min

Amgen is among the leaders of a pack of drugmakers racing to join the market with their own weight loss treatments. Amgen's drug, MariTide, is taken less frequently than Novo Nordisk's Wegovy and Eli Lilly's Zepbound, and may cause longer-lasting weight loss than the market leaders' injections. Novo Nordisk and Eli Lilly are also working on new weight loss drugs. The competition for a slice of the weight loss market has only grown more fierce in recent months. An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023.

Persons: NOVO.B, Scott Olson, Eli Lilly, Nordisk's Wegovy, Eli Lilly's Zepbound, Amgen, William Blair, Matt Phipps, Bob Bradley, Boehringer Ingelheim, Phipps, Zepbound, Chris Schott, MariTide, Mario Tama, he's, Eli Lilly drugs, CagriSema, Eli Lilly’s, Brendan McDermid, Boehringer, Ingelheim, survodutide, Pascal Soriot, Christopher Furlong, dealmaking, David Denton Organizations: New, Halstead Pharmacy, Getty, Novo Nordisk, Nordisk's, William Blair & Company, CNBC, Therapeutics, AstraZeneca, Zealand Pharma, MariTide, Reuters, GLP, Pfizer, Eccogene Locations: Chicago , Illinois, Novo, Amgen, Thousand Oaks , California, New York City, U.S, Zealand, Macclesfield

☆ FDA approves Merck's drug for rare, deadly lung condition
▼ + stars: | 2024-03-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

The Food and Drug Administration on Tuesday approved a drug from Merck designed to treat a progressive and life-threatening lung condition in a win for both the drugmaker and for patients suffering from the rare disease. The condition refers to when the small blood vessels in the lungs narrow. He noted that the drug will be a "paradigm shift" for patients living with PAH. That includes reducing the risk of death or worsening of the condition by 84% compared to an existing drug alone. Those trials include late-stage studies on patients with more advanced PAH disease, and those who are within the first year after diagnosis.

Persons: Chris Schott, Eliav Barr, PAH, Barr, Merck Organizations: Merck, Drug Administration, JPMorgan, CNBC, Acceleron Pharma Locations: Rahway , New Jersey, U.S, Winrevair

☆ Pfizer is betting big on cancer drugs to turn business around after Covid decline – here's what to know
▼ + stars: | 2024-03-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +13 min

Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. That $43 billion Seagen acquisition doubled Pfizer's oncology drug pipeline to 60 different experimental programs. Some analysts noted that it might take a few years for some of Pfizer's cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky. Revenue from the blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi, which Pfizer shares with Astellas Pharma, has declined over the past year. They are among the most expensive prescription drugs in the U.S. Before the Seagen deal, 94% of Pfizer's cancer products were small-molecule drugs.

Persons: Wall, Seagen, Chris Boshoff, Boshoff, David Ryder, Trung Huynh, Joe Biden's, Chris Schott, Suneet Varma, RemeGe, Merck, Padcev, Guggenheim, Pfizer's, Pfizer hasn't, Dr, Mikael Dolsten, Irfan Khan Organizations: Nurphoto, Getty, Pfizer, Astellas Pharma, Guggenheim, Bloomberg, UBS, Medicare, Drug Administration, FDA, ADC, JPMorgan, Drugs, CNBC, CVS Pharmacy, Los Angeles Times Locations: Covid, Bothell , Washington, U.S, biologics, China, Eagle Rock , California

☆ Elanco's $1.3 billion deal may give the animal health company more flexibility as product launches ramp up
▼ + stars: | 2024-02-06 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +6 min

Elanco Animal Health's decision to sell its aqua division will narrow its focus on pet health and livestock sustainability, as management prepares to launch several new products this year. ELAN 1Y mountain Elanco stock over the past year. One area it identified is pet health, a $15 billion market that has benefited from increasing pet ownership, especially among people who see their pets as family and value their animals' health care. 'Flexibility' to invest behind launches The product launches will also give Elanco a chance to prove itself. The pet health business is very competitive and, once approved, Zenrelia will compete directly with rival Zoetis' Apoquel.

Persons: Elanco, Jeff Simmons, Simmons, Credelio, Cornell University's Richard P, FactSet, Chris Schott, ELAN, Schott, Jefferies, Glen Santangelo, Eli Lilly, Jasper Hellweg, Hellweg, Zenrelia, Zoetis, — CNBC's Michael Bloom Organizations: Merck, CNBC, ELAN, Riney Canine Health, JPMorgan, Argus Locations: U.S

☆ Big pharma is at a crossroads, as J&J, Merck and others prepare to lose heaps of revenue from blockbuster drugs
▼ + stars: | 2024-01-28 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +12 min

Bristol Myers Squibb's Eliquis is a blood thinner used to prevent clotting, to reduce the risk of stroke. Bristol Myers Squibb's Opdivo is an immunotherapy used to treat cancers, including melanoma and lung cancer. Investors will get updates on Merck and Bristol Myers Squibb's plans for the years ahead when they report earnings on Thursday and Friday, respectively. That's unlike generics, which are cheaper copycats of small-molecule drugs like Bristol Myers Squibb's Eliquis. Bristol Myers Squibb is also testing a new form of Opdivo, which is currently administered into a patient's veins.

Persons: Johnson, William Blair, Matt Phipps, Bristol Myers, Johnson's, Merck's Keytruda, J's Stelara, Opdivo, Phipps, biosimilars, Eliquis, Biosimilars, Humira, JB Reed, Samsung's, Piper Sandler, Christopher Raymond, AbbVie, Raymond, Chris Schott, Schott, Robert Davis, Keytruda, Davis, JPMorgan's Schott, Bristol Myers Squibb, George Frey, J, Amgen, J confidentially, Mike Perrone, It's, Anna Moneymaker Organizations: New York Stock Exchange, Johnson, NYSE Big, Bristol Myers Squibb, Merck, Biden, William Blair & Company, CNBC, Guggenheim, Bristol, Leerink Partners, Bloomberg, Getty, Bioepis, JPMorgan, JPMorgan Health Care, Moderna, Bristol Myers, Karuna Therapeutics, Hardy, Huntsman Cancer Institute, University of Utah, Reuters, Teva Pharmaceuticals, Pharma, U.S . Department of Health, Human Services Locations: drugmakers, EY, Europe, U.S, Cambridge , Massachusetts, Arda, EY's Americas, Bristol, Salt Lake City , Utah, Washington , DC

☆ Lilly trades at a premium to Ozempic-maker Novo as obesity drugs boom. Here's why, analyst says
▼ + stars: | 2023-11-10 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

Does Eli Lilly deserve to trade at a premium to Novo Nordisk shares? LLY YTD mountain Eli Lilly shares since the start of the year. According to Shin, Lilly deserves a premium to Novo Nordisk because its portfolio is more diverse and it has less exposure to insulin. NVO YTD mountain Novo Nordisk shares year to date In the coming weeks, Lilly will start rolling out Zepbound to patients. Novo Nordisk is scheduled to release the full results of its Select cardiovascular trial at the American Heart Association conference.

Persons: Eli Lilly, James Shin, Shin, Lilly, We're, Lilly's, Zepbound, Wegovy, Chris Schott, Karsten Munk Knudsen, Novo, Schott, AstraZeneca, Eccogene, David Ricks, — CNBC's Michael Bloom Organizations: Novo Nordisk, Deutsche Bank, Biotech, Pharma, Centers for Disease Control, Novo, CNBC, American Heart Association Locations: U.S, GLP, Novo, Denmarkt

☆ Eli Lilly's weight loss drugs trounce sky-high expectations, boosting the stock
▼ + stars: | 2023-06-27 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +5 min

What's more, some showed no signs their weight loss was leveling off, suggesting they could continue to shed pounds. (Both use semaglutide, but Ozempic is marketed as a type 2 diabetes treatment, while Wegovy is primarily for weight loss.) Bank of America's Geoff Meacham said retatrutide "exceeded expectations" for weight loss. "This is important, as while the overall 22.4% weight loss was impressive, looking at men and women separately, weight loss was 21.9% and 28.5%, respectively, with the slope in females not yet plateauing. Schott also described the weight loss as "impressive" and said it will likely compare favorably with Novo's next-generation drug CagriSema, which is expected to show weight loss of more than 25% when it releases its next update.

Persons: Eli Lilly, What's, Lilly, Lilly's, Carter Gould, Gould, orforglipron, Bank of America's Geoff Meacham, retatrutide, Meacham, Chris Schott, Schott, Novo's, Evan David Seigerman, Seigerman, Morgan Stanley, Terence Flynn, — CNBC's Michael Bloom Organizations: American Diabetes Association, Wall, Novo Nordisk, Barclays, Bank of America's, JPMorgan, Lilly, BMO Capital, Indianapolis, ~$ Locations: Novo

☆ Obesity is a chronic disease. It's why treating it will be so profitable unless payers push back
▼ + stars: | 2023-04-30 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Lilly manufactures tirzepatide, which is sold under the brand name Mounjaro as a type 2 diabetes treatment. It's the chronic nature of obesity that will make these drugs so profitable, analysts have said. Huynh increased his target due to higher expectations for Mounjaro sales this year. Huynh boosted his prediction for the drug's sales this year to $3.7 billion from an prior estimate of $2.7 billion. "$48 billion is a monster number," Holz said, referring to an annual sales estimate that Bank of America has floated for future Mounjaro sales.

☆ Johnson & Johnson expects no new Covid vaccine revenue, after shots drive earnings beat
▼ + stars: | 2023-04-18 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

International Covid vaccine sales helped spark Johnson & Johnson 's revenue and earnings beat on Tuesday, but the company said it expects no sales from the shot moving forward. That marks the end of a rocky three years for J&J's Covid vaccine despite being one of the first shots to enter the U.S. market during the pandemic. Notably, all Covid vaccine revenue during the quarter came from outside of the U.S. JP Morgan analyst Chris Schott added that J&J's first-quarter beat was in part "driven by Covid vaccine upside." While J&J's vaccine fell out of favor in the U.S. and other wealthy countries, developing countries have continued to rely on it.

☆ J&J rises as $9 bln talc lawsuit settlement eases overhang on unit spinoff
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] A bottle of Johnson and Johnson Baby Powder is seen in a photo illustration taken in New York, February 24, 2016. Some analysts were positive about the new settlement that is far bigger than the original offer of $2 billion, as they believe it could bring an end to the lawsuit. J.P. Morgan analyst Chris Schott said in a note the settlement amount was in-line with the brokerage's estimate of $8 billion to $10 billion. "We believe today's announcement should help the IPO of 20% of the consumer unit," Credit Suisse analyst Trung Huynh said in a note. "Overall, we believe the proposed settlement has vast support by the plaintiff supermajority and the top 18 law firms representing the claimants," Jennings said.

☆ J&J rises as $8.9 bln talc lawsuit settlement eases overhang on consumer unit spinoff
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

☆ Johnson & Johnson shares rise after company proposes baby powder cancer settlement
▼ + stars: | 2023-04-05 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Johnson & Johnson shares on Wednesday climbed after the company proposed paying $8.9 billion to settle thousands of claims that its baby powder and other talc products caused cancer. The pharmaceutical giant also said its subsidiary LTL Management refiled for Chapter 11 bankruptcy protection after its first attempt faced legal challenges. JPMorgan analyst Chris Schott on Thursday called the proposed settlement a positive for the company in a note. The proposed $8.9 billion settlement is also in-line with JPMorgan's $8 billion to $10 billion estimate, Schott noted. It's also unclear whether the proposed settlement will win approval in bankruptcy court, Bank of America analyst Geoff Meacham noted Thursday.

☆ Sanofi, Regeneron shares pop more than 6% after data shows asthma drug Dupixent may also treat COPD
▼ + stars: | 2023-03-23 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Shares of Sanofi and Regeneron both jumped by more than 6% on Thursday after the pharmaceutical companies released promising data showing their jointly developed asthma drug Dupixent also shows promise in treating COPD patients. New data from a phase three clinical trial shows Dupixent reduced bad bouts of chronic obstructive pulmonary disease, or COPD, by 30% compared with a placebo over 52 weeks. The trial enrolled COPD patients with type 2 inflammation — an allergic response that can result in decreased lung function. The companies said a second phase three trial of Dupixent in COPD is ongoing, with data expected in 2024. He added that J.P. Morgan expects to see new COPD patients adding $1.5 billion to $2 billion in new sales for Dupixent.

☆ Merck's drug boosts exercise capacity in pulmonary hypertension patients
▼ + stars: | 2023-03-06 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

Sotatercept, combined with a background therapy, helped patients with pulmonary arterial hypertension to walk about 40.8 meters more in six minutes. J.P. Morgan analyst Chris Schott said the data exceeded the brokerage's expectations and "should confirm the drug as go-to add-on therapy" for pulmonary arterial hypertension. Schott forecast peak sales of $3 billion to $4 billion for the drug. In October, Merck said sotatercept had met the main goal of a late-stage study, but did not release the full data. Reporting by Khushi Mandowara and Pratik Jain in Bengaluru; Editing by Arun Koyyur and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

"When you think about traditional drug and vaccine development and longevity of sales, it's usually much more spread out," Morningstar analyst Damien Conover said. The sudden inflow of revenue should prod companies to strike deals and link up with new partners, he said. Vaccine maker Moderna also expects 2023 revenue to fall sharply. The company's only product - its messenger RNA COVID vaccine - pulled in around $18.4 billion in 2022. Eli Lilly and Co (LLY.N) made $2 billion in 2022 from monoclonal antibody COVID treatments and is not expecting any revenue from the business in 2023.

☆ JPMorgan upgrades Regeneron, says eye drug launch could help boost shares nearly 20%
▼ + stars: | 2023-01-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Approval of Regeneron 's eye drug treating age-related macular degeneration could serve as the next big catalyst for shares of the pharmaceutical giant, according to JPMorgan. Analyst Chris Schott upgraded shares of Regeneron to overweight from neutral, calling the pharmaceutical company's Eylea drug a "best in class therapy" slated to broaden its AMD segment. The positivity from Schott comes even after the company noted that a shift to an off-label competitor negatively impacted drug sales in the final quarter of 2022. Despite a crowded and increasingly competitive market, Schott also views Regeneron's drug treating atopic dermatitis, or eczema, as another potential growth driver for the stock going forward. Regeneron outperformed in 2022, rising 14% as the broader market fell.

☆ EQRx promised to deliver cutting-edge drugs at half the cost of rivals. A cofounder shares why the once buzzy biotech is walking away from that mission
▼ + stars: | 2023-01-19 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +5 min

After years of touting the idea of radically lower drug prices, EQRx has walked away from that plan. Cofounder Alexis Borisy said it was due to the FDA not OK'ing drugs based only on Chinese data. EQRx suddenly sounded like a typical biotech company, talking of "market-based pricing" that would "maximize value for shareholders." EQRx's stock is down over 75% since its record-breaking SPACAlexis Borisy, EQRx Chairman, and CEO Melanie Nallicheri. An unclear future for 'radically lower drug prices'EQRx CEO Melanie Nallicheri EQRxIn November, EQRx said it wouldn't pursue radically lower pricing for its first two drug candidates, both cancer therapies.

☆ Amgen says experimental obesity drug has promising durability
▼ + stars: | 2022-12-03 | by ( Deena Beasley | ) www.reuters.com time to read: +3 min

LOS ANGELES, Dec 3 (Reuters) - Amgen Inc's (AMGN.O) experimental obesity drug demonstrated promising durability trends in an early trial, paving the way for a larger mid-stage study early next year, company officials said ahead of a data presentation on Saturday. The small Phase I trial found that patients maintained their weight loss for 70 days after receiving the highest tested dose of the injected drug, currently known as AMG133. Amgen shares have gained about 5% since the company said on Nov. 7 that 12 weeks of trial treatment at the highest monthly dose of AMG133 resulted in mean weight loss of 14.5%. Patients treated with AMG133 did have side effects including nausea and vomiting, but most cases were mild and resolved within a couple of days after the first dose, Amgen said. The drug was developed from work at Amgen to identify genetic signals associated with lower fat mass and body weight, and also healthy metabolic profiles, explained Saptarsi Haldar, head of cardiovascular metabolic discovery at Amgen.

☆ JPMorgan downgrades Teva as generic medication business struggles
▼ + stars: | 2022-11-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Teva Pharmaceutical is hard to like as it continues to be weighed down by underperformance in some business areas, JPMorgan says. The new price target implies upside of just 5.5% from Friday's close. Schott noted the company has been able to continue paying down debt as a positive, but said it would need to continue allocating cash pay towards this. The stock's performance could be impacted by improvements in generics, a favorable opioid settlement or if the company is able to stave off competition on its migraine medication Ajovy. Teva shed 2.3% in the premarket and is up 18.4% compared with the start of the year.

☆ Pfizer’s Price Hike Shot in the Arm for Vaccine Makers
▼ + stars: | 2022-10-21 | by ( David Wainer | ) www.wsj.com time to read: +1 min

With fewer and fewer Americans opting for Covid-19 vaccine boosters, investors had been growing increasingly skittish about vaccine-makers Pfizer and Moderna Both stocks have underperformed their peers and are among the cheapest healthcare stocks, trading well below the industry average on a price-to-earnings basis. News late Thursday that Pfizer is planning to price its shot at $110 to $130 per dose in the U.S. is giving a lift to both stocks as investors rework their models to reflect the higher revenue starting next year when Pfizer expects to transition its vaccine to the commercial market. The federal government currently covers the cost of vaccines and is paying roughly $30 per dose under the latest contract. While investors had expected a hike as that coverage lapsed, “the magnitude of the price increase was well above expectations,” wrote Chris Schott , an analyst at JP Morgan. Pfizer was up 4.5% while Moderna rose 9% in early afternoon trading.

☆ Biogen soars 43% after its Alzheimer's drug helps slow down cognitive decline in late-stage study
▼ + stars: | 2022-09-28 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Biogen soared 43% on Wednesday after the company's Alzheimer's drug showed solid results in slowing the cognitive decline of patients. The drug, lecanemab, slowed cognitive decline by 27% after 18 months in a phase three clinical trial. Specifically, the drug helped reduce the pace of cognitive decline in people with early Alzheimer's by 27% over 18 months, compared to a placebo. The drug is separate from Biogen's aduhelm Alzheimer's drug, which was approved by the FDA last year in what was seen as a controversial decision. Biogen's positive Alzheimer's drug results is moving a handful of stocks that are focused on developing therapies in the space.

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