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☆ US FDA gives second approval to Eli Lilly's drug for type of blood cancer
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

Dec 1 (Reuters) - Eli Lilly (LLY.N) said on Friday the U.S. Food and Drug Administration (FDA) gave a second approval for its drug Jaypirca, which is used to treat a form of blood cancer. The company said the health regulator gave the new approval to the drug for the treatment of chronic lymphocytic leukemia (CLL), a type of cancer in which the bone marrow makes too many of certain white blood cells. Jaypirca was first given accelerated approval by the FDA on Jan. 27 for the treatment of mantle cell lymphoma (MCL), a rare type of blood cancer that starts in white blood cells and spreads to other parts of the body. MCL is a more aggressive form of cancer compared to CLL, according to the National Institutes of Health. The drug aims to treat adults with CLL after at least two lines of therapy.

Persons: Eli Lilly, LLY.N, Jaypirca, Christy Santhosh, Arun Koyyur Organizations: U.S . Food, Drug Administration, FDA, National Institutes of Health, CLL, Thomson Locations: Bengaluru

☆ US FDA says BD recalling infusion pumps due to compatibility issues
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsDec 1 (Reuters) - The U.S. Food and Drug Administration (FDA) said on Friday that Becton Dickinson (BDX.N) is recalling its Alaris infusion pumps due to compatibility issues with Cardinal Health's (CAH.N) Monoject syringes. However, the dimensions for Monoject syringes have recently changed while rebranding the syringes from Covidien Monoject to Cardinal Health Monoject. Last month, the FDA warned healthcare providers not to use Cardinal's Monoject syringes with patient-controlled pain management pumps and syringe pumps after the company initiated a recall due to compatibility problems. On Sept. 15, BD asked its customers to stop using Cardinal's Monoject syringes with BD's Alaris pumps. An infusion pump is a medical device that delivers fluids such as nutrients and medications into a patient's body in controlled amounts.

Persons: Andrew Kelly, Becton Dickinson, Cardinal Health's, Monoject, Health Monoject, BD, Christy Santhosh, Maju Samuel Organizations: Food and Drug Administration, FDA, REUTERS, U.S . Food, Drug Administration, Health, Thomson Locations: White Oak , Maryland, U.S

☆ Rover shares jump on $2.3 bln go-private deal with Blackstone
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: 1 min

Nov 29 (Reuters) - Rover Group shares (ROVR.O) surged 28% in early trading on Wednesday after the pet care company said investment firm Blackstone (BX.N) will take it private in $2.3 billion all-cash deal. The company's shareholders will receive $11 per share at a premium of 29.4% from the last close price. Rover is an online marketplace where pet care providers offer services such as dog walking and in-home pet sitting. The company said the transaction is expected to close in the first quarter of 2024. Reporting by Christy Santhosh in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Blackstone, Christy Santhosh, Arun Koyyur Organizations: Rover Group, Rover, Thomson Locations: Bengaluru

☆ US FDA flags new problem with Philips machines, shares fall
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] Dutch technology company Philips' logo is seen at company headquarters in Amsterdam, Netherlands, January 29, 2019. The new issue identified by the FDA involves a humidifier used in the "DreamStation 2" sleep therapy device. "Philips Respironics is in discussions with the (FDA) regarding the reports," it said. Philips shares were down 6.7% at 18.26 euros by 0833 GMT. The FDA said it had received reports of people facing thermal issues such as fire, smoke, burns, and other signs of overheating while using Philips' DreamStation 2 CPAP machines.

Persons: Eva Plevier, Philips, Toby Sterling, Christy Santhosh, Diana Alvarez, Shailesh Kuber, Jan Harvey Organizations: Philips, REUTERS, U.S . Food, Drug Administration, FDA, ING, Thomson Locations: Dutch, Amsterdam, Netherlands, U.S, Bengaluru, Gdansk

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 27 (Reuters) - The U.S. health regulator on Monday approved SpringWorks Therapeutics' (SWTX.O) drug for treating adult patients with desmoid tumors, making it the first approved treatment for this type of non-cancerous soft-tissue growth. The brokerage estimates U.S. sales of $3 million in 2023 and $79 million in 2024 and peak sales of $544 million in 2032. Desmoid tumors are rare, abnormal non-cancerous growths that occur in connective tissues and are associated with a high rate of recurrence. An estimated 1,650 people in the U.S. are diagnosed with desmoid tumors each year, according to data from the National Institutes of Health.

Persons: Andrew Kelly, Saqib Islam, Ogsiveo, Cowen, Yaron, Islam, Pratik Jain, Christy Santhosh, Shilpi Majumdar, Shailesh Organizations: Food and Drug Administration, FDA, REUTERS, Therapeutics, Food, National Institutes of Health, Thomson Locations: White Oak , Maryland, U.S, United States, Bengaluru

☆ Medical device maker Medtronic raises fiscal 2024 profit view
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

Medtronic Plc logo is seen displayed in this illustration taken, April 10, 2023. Medtronic joins medical device makers including Abbott Laboratories (ABT.N) and Boston Scientific(BSX.N) that have benefited from soaring demand for non-urgent surgeries. It now expects profit to be between $5.13 per share and $5.19 per share for the fiscal year 2024, above the range of $5.08 per share to $5.16 per share expected previously. On an adjusted basis, the Dublin-based company reported a profit of $1.25 per share for the second quarter, above analysts' average estimate of $1.18 per share, according to LSEG data. Reporting by Khushi Mandowara and Christy Santhosh in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Medtronic, Khushi Mandowara, Christy Santhosh, Pooja Desai Organizations: REUTERS, Abbott, Abbott Laboratories, Boston, Thomson Locations: Dublin, Bengaluru

☆ 3M names new healthcare spinoff as Solventum
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

The logo of Down Jones Industrial Average stock market index listed company 3M is shown in Irvine, California April 13, 2016. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNov 16 (Reuters) - U.S. industrial conglomerate 3M (MMM.N) said on Thursday its independent healthcare business would be called Solventum following its spinoff. 3M disclosed plans to spin off its healthcare business into a listed company last year, in which the U.S. industrial giant would retain a 19.9% stake. The healthcare unit, which focuses on wound care, oral care and healthcare technology, reported about $8.4 billion in sales in 2022. 3M had said in August that Bryan Hanson would be the chief executive officer of the healthcare company.

Persons: Mike Blake, Bryan Hanson, Christy Santhosh, Shilpi Majumdar Organizations: Down Jones, REUTERS, 3M, Thomson Locations: Irvine , California

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 15 (Reuters) - The U.S. health regulator's staff on Wednesday flagged concerns that data on Merck's (MRK.N) chronic cough drug might not be enough to prove the treatment's meaningful benefit, documents released ahead of a meeting of independent experts showed. The concerns were raised after the company had submitted additional efficacy data to the U.S. Food and Drug Administration (FDA), which declined to approve the drug in January last year. A panel of expert advisers to the FDA is set to meet on Friday to discuss the efficacy of Merck's drug gefapixant. Staff assessment of the data submitted by Merck showed a small reduction in cough frequency and side effects such as loss of taste in patients who were administered the drug. The European Union and Japan have approved Merck's drug for the condition and it is sold under the brand name Lyfnua.

Persons: Brendan McDermid, Mara Goldstein, Christy Santhosh, Shinjini Ganguli, Anil D'Silva, Shailesh, Shounak Organizations: Merck, Co, REUTERS, U.S . Food, Drug Administration, FDA, Staff, European Union, Thomson Locations: Rahway , New Jersey, U.S, United States, Japan, Bengaluru

☆ US FDA approves CorMedix's drug for bloodstream infections
▼ + stars: | 2023-11-15 | by ( Christy Santhosh | ) www.reuters.com time to read: +2 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 15 (Reuters) - The U.S. health regulator on Wednesday approved CorMedix's (CRMD.O) antimicrobial drug for reduction of catheter-related bloodstream infections (CRBSIs) in patients with kidney disease, allowing the company to launch its first commercial product. The company plans to ready the drug for commercialization by end of the first quarter of 2024, CorMedix CEO Joe Todisco told Reuters. DefenCath, a combination of the antimicrobial active ingredient taurolidine and blood thinner heparin, has previously been rejected twice by the U.S. Food and Drug Administration (FDA) on manufacturing concerns. Ahead of the drug approval, CorMedix said it had changed its heparin supplier and the FDA had inspected its current manufacturing facility and was comfortable with it.

Persons: Andrew Kelly, Joe Todisco, CorMedix, Christy Santhosh, Shailesh Organizations: Food and Drug Administration, FDA, REUTERS, Reuters, U.S . Food, Drug Administration, RBC, DefenCath, Thomson Locations: White Oak , Maryland, U.S, New Jersey, DefenCath, Bengaluru

☆ Pfizer to cut 500 jobs at UK site as part of wider cost cuts
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Pfizer company logo is seen at a Pfizer office in Puurs, Belgium, December 2, 2022. REUTERS/Johanna Geron/ File Photo Acquire Licensing RightsNov 14 (Reuters) - Pfizer (PFE.N) will cut 500 jobs at its Sandwich, Kent site in the U.K. as part of its $3.5 billion cost-cutting plan, the drugmaker said on Tuesday. The U.S. drugmaker announced the cost-cutting program in October after slashing its full-year revenue forecast due to lower-than-expected sales of its COVID-19 vaccine and treatment. Pfizer, which employs roughly 83,000 people globally, has not disclosed how many jobs will be affected by the cost-reduction program. The company said on Tuesday it would share further details on the program as part of the full-year forecast for 2024.

Persons: Johanna Geron, drugmaker, Christy Santhosh, Shailesh Kuber Organizations: Pfizer, REUTERS, Thomson Locations: Puurs, Belgium, Sandwich, Kent, U.S

☆ Medical device maker Zimmer cuts revenue growth forecast as profit beats
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

Sales at Zimmer's knees unit rose 7.5% to $706.3 million, compared to analysts' estimate of $702.9 million. That helped cushion a miss at its hips unit, where sales of $465.3 million compared with estimates of $481.7 million. The Indiana-based company's third-quarter revenue rose 5% to $1.75 billion, in line with analysts' average estimates. Zimmer had said earlier that it expects second- and third-quarter revenue to be a "little bit lighter" compared to the first quarter. The hip and knee implant maker cut its full-year reported revenue forecast to a growth of 6% to 6.5% from 6.5% to 7.0% earlier while backing its full-year profit forecast of $7.47 to $7.57 per share.

Persons: Zimmer Biomet, Moritz Hager, Zimmer, Johnson, Ivan Tornos, Christy Santhosh, Sriraj Organizations: REUTERS, Zimmer Biomet Holdings, Laboratories, Boston, Thomson Locations: Winterthur, Switzerland, Indiana, Bengaluru

☆ IQVIA cuts annual profit forecast on slow demand for medtech, analytics services
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Nov 1 (Reuters) - IQVIA Holdings (IQV.N) cut its full-year profit forecast on Wednesday, citing weakness in demand for its analytics and medical technology solutions along with the impact of a stronger U.S. dollar. Thermo Fisher signaled that the demand slump from biotech clients for its contract research services could extend into the next year due to rising interest rates and a persistent funding crunch. On an adjusted basis, IQVIA reported a profit of $2.49 per share for the third quarter, topping estimates of $2.44 per share. The company now expects full-year adjusted profit to be between $10.16 and $10.23 per share, compared with its prior per-share forecast of $10.26 to $10.56. IQVIA now expects 2023 revenue between $14.89 billion and $14.92 billion, compared with its previous forecast of $15.05 billion to $15.18 billion.

Persons: IQVIA, Fisher, Christy Santhosh, Shweta Agarwal Organizations: IQVIA Holdings, Danaher Corp, Thomson Locations: Durham , North Carolina, Bengaluru

☆ GE HealthCare beats quarterly profit estimates on imaging device demand
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

A logo is displayed on a GE digital anesthesia carestation as U.S. Vice President Mike Pence (not pictured) visits a GE Healthcare manufacturing facility during the global coronavirus disease (COVID-19) outbreak in Madison, Wisconsin, U.S. April 21, 2020. Larger peer Abbott Laboratories (ABT.N) also topped its quarterly profit estimates, aided by a recovery in sales of its medical devices such as heart valves and pacemakers. In the previous quarter, GE HealthCare had said that Alzheimer's-related testing would help drive demand for its imaging equipment at hospitals and medical centers next year. $2.64 billion of the sales came from imaging devices, in line with estimates. On an adjusted basis, GE HealthCare earned 99 cents per share, above LSEG estimates of 90 cents.

Persons: Mike Pence, Daniel Acker, Christy Santhosh, Maju Samuel Organizations: GE, GE Healthcare, REUTERS, GE HealthCare Technologies Inc, Abbott Laboratories, GE HealthCare, Thomson Locations: Madison , Wisconsin, U.S, COVID, United States, Bengaluru

The logo for AbbVie is displayed on a screen at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. Morningstar analyst Damien Conover said he had already factored in a hit to Imbruvica from the Medicare price negotiations, so the update on impairment was not "overly significant to our view." Humira's global third-quarter sales fell 36% to $3.55 billion, but topped analysts' estimates of $3.48 billion, according to LSEG data. AbbVie in July trimmed its 2023 view for Humira sales erosion to 35%, from 37% earlier. The company's newer immunology drugs Skyrizi and Rinvoq generated sales of $2.13 billion and $1.11 billion, respectively, ahead of analyst expectations of $2.10 billion and $1.02 billion.

Persons: Andrew Kelly, girding, AbbVie, Imbruvica, Morningstar, Damien Conover, Humira, Piper Sandler, Christopher Raymond, Ingelheim, Leroy Leo, Christy Santhosh, Maju Samuel, Bill Berkrot Organizations: New York Stock Exchange, REUTERS, U.S, Medicare, Analysts, Sandoz, AbbVie, Thomson Locations: New York City , New York, U.S, The Illinois, Bengaluru

☆ Danaher Beats Profit Estimates on Respiratory Testing Demand
▼ + stars: | 2023-10-24 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Danaher on Tuesday beat Wall Street estimates for third-quarter profit as strong demand for its diagnostic tests for respiratory diseases helped soften the blow from weaker sales at the healthcare conglomerate's life-sciences unit. "Revenue in the third quarter came in ahead of our expectations, with Biotechnology performing as anticipated, and higher respiratory testing revenue more than offsetting slightly softer-than-anticipated demand in Life Sciences," Danaher CEO Rainer Blair said in a statement. Rising interest rates squeezed funding needed for drug development programs, weighing on demand for contract research services offered by Danaher and rival Thermo Fisher. On an adjusted basis, Danaher reported a profit per share of $2.02, beating analysts' expectations of $1.87. Third-quarter sales of $6.87 billion also topped estimates of $6.63 billion.

Persons: Rainer Blair, Danaher, Christy Santhosh, Krishna Chandra Eluri Organizations: Reuters, Biotechnology, Life Sciences, Washington D.C, Danaher, Fisher, Applied Solutions

☆ Beam Therapeutics to cut 20% of workforce as part of restructuring plan
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Companies Beam Therapeutics Inc FollowOct 19 (Reuters) - Beam Therapeutics (BEAM.O) said on Thursday it will focus on developing its experimental sickle cell disease treatments and reduce about 20% of its current workforce, or 100 employees, as part of a restructuring plan. The gene-editing specialist expects to incur one-time expenses of about $6.6 million related to the workforce reduction, which it plans to complete in the fourth quarter. Its experimental sickle cell disease treatments include early-stage candidate BEAM-101, which activates fetal hemoglobin, the dominant form of hemoglobin present in the fetus during gestation. Beam will pause the development of its hepatitis B virus candidate, currently being evaluated in lab studies, and explore partnership opportunities for it. Reporting by Bhanvi Satija and Christy Santhosh in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Beam, David Liu, Feng Zhang, J Keith Joung, Bhanvi Satija, Christy Santhosh, Shilpi Majumdar Organizations: Beam Therapeutics, U.S . Food, Drug Administration, Thomson Locations: Cambridge , Massachusetts, Bengaluru

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. The rejection and request for additional testing sharply contrasts the backing from the U.S. Food and Drug Administration's (FDA) independent experts for the spray, neffy, in May. EpiPen-maker Viatris (VTRS.O) had in June petitioned the FDA to require that ARS conduct more trials that closely mimic real-world conditions. It did not test neffy in anaphylaxis, a severe, life-threatening allergic reaction, due to ethical concerns. ARS expects to re-submit its application in the first half of 2024, with an FDA decision likely in the second half.

Persons: Andrew Kelly, William Blair, Tim Lugo, Stacey Saiontz, anaphylaxis, James Tarbox, Christy Santhosh, Sriparna Roy, Jahnavi, Varun Organizations: Food and Drug Administration, FDA, REUTERS, ARS Pharmaceuticals, U.S . Food, Pharma, Regulators, ARS, Texas Tech University Health Sciences Center, Thomson Locations: White Oak , Maryland, U.S, anaphylaxis, Bengaluru

☆ US Declares Public Health Emergency in Georgia After Hurricane Idalia
▼ + stars: | 2023-09-13 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - The U.S. Department of Health and Human Services (HHS) on Wednesday declared a public health emergency (PHE) for the state of Georgia to deal with the ramifications of Hurricane Idalia. The hurricane hit Florida's Gulf Coast in late August with fierce winds, torrential rains and pounding surf before turning to southeastern Georgia, where floodwater trapped some residents in their homes. With the PHE declaration, healthcare providers and suppliers will have greater flexibility in meeting emergency needs of people covered by the Medicare and Medicaid health plans, the HHS said. "We are working closely with state and local health authorities, as well as our partners across the federal government, and stand ready to provide additional public health and medical support," said health secretary Xavier Becerra. The declaration waives certain requirements such as physicians or other healthcare professionals needing to hold licenses in the state in which they provide services.

Persons: floodwater, Xavier Becerra, Christy Santhosh, Rahul Paswan, Krishna Chandra Eluri Organizations: Reuters, U.S . Department of Health, Human Services, Wednesday, HHS Locations: Georgia, Coast, Bengaluru

☆ US pharmacy chains gear up to administer updated COVID shots
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsSept 13 (Reuters) - Drugstore chains CVS Health (CVS.N) and Walgreens Boots Alliance (WBA.O) said on Wednesday that updated COVID-19 vaccines would be available at their stores as soon as this week. The U.S. Centers for Disease Control and Prevention (CDC) director on Tuesday signed off on broad use of updated COVID-19 vaccines, arming a push to align the next round of shots more closely with the circulating variant of the virus, much like annual flu shots are designed. The U.S. Food and Drug Administration has approved an updated vaccine made by Pfizer (PFE.N) and its German partner BioNTech (22UAy.DE) as well as one by Moderna (MRNA.O) for people ages 12 and above. The agency has also authorized the shots for emergency use in children ages 6 months through 11 years. Walgreens said it would start taking appointments for the updated vaccines from Monday, but could begin earlier appointments as stores receive vaccines this week.

Persons: Luis S, Solano, Victor Walchirk, Kamil Krzaczynski, BioNTech, Christy Santhosh, Devika Organizations: Pfizer, Victor, REUTERS, Walgreens Boots Alliance, U.S . Centers for Disease Control, Prevention, U.S . Food, Drug Administration, Moderna, Walgreens, Rite, CVS, Retail, Walmart, Thomson Locations: Evanston , Illinois, U.S, Bengaluru

☆ FDA warns CVS, others against selling unapproved eye products
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 12 (Reuters) - The U.S. Food and Drug Administration on Tuesday warned eight companies, including pharmacy giants CVS Health Corp (CVS.N) and Walgreens Boots Alliance (WBA.O), against manufacturing or marketing unapproved eye products. Some of the these eye products were labeled to contain silver, the FDA said, adding that long-term use of drugs containing silver can cause some areas of the skin and other body tissues, including in the eye, to permanently turn gray or blue-gray. CVS and Walgreens said they have stopped the sale of the unapproved eye drops, and that customers who purchased these products could return them for a full refund. The FDA warned that failure to correct the violations may result in legal action, including product seizure and court orders requiring the companies to stop manufacturing and distributing an unapproved product.

Persons: Dado Ruvic, Similasan, Leroy Leo, Mariam Sunny, Christy Santhosh, Pooja Desai, Maju Samuel Organizations: CVS, REUTERS, U.S . Food, Drug Administration, CVS Health Corp, Walgreens Boots Alliance, FDA, Walgreens, Reuters, Thomson Locations: U.S, Swiss, Bengaluru

☆ Acelyrin's skin disease drug trial failure wipes off IPO gains
▼ + stars: | 2023-09-12 | by ( Christy Santhosh | ) www.reuters.com time to read: +2 min

Sept 12 (Reuters) - Shares of drug developer Acelyrin (SLRN.O) on Tuesday erased all gains made since their stellar market debut in May, as the company's experimental lead drug failed to show superiority to placebo in reducing symptoms of an inflammatory skin disease. HS is a chronic inflammatory skin condition that causes painful lumps under the skin. Acelyrin said the trial was hit by early discontinuations as well as better placebo efficacy rates. However, Jefferies analyst Akash Tewari slashed the price target on Acelyrin's stock to $15 from $31, calling the latest data "painfully disappointing." "It's difficult to glean much from the data given how poorly the trial was run.

Persons: Acelyrin, Acelyrin's izokibep, Hidradenitis, Piper Sandler, Jefferies, Akash Tewari, We'll, Christy Santhosh, Saumyadeb Chakrabarty Organizations: Ventyx Biosciences, Apogee Therapeutics, Thomson Locations: Acelyrin, Bengaluru

☆ Moderna ties up with Immatics to boost cancer vaccine development
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

Syringes with needles are seen in front of a displayed Moderna logo in this illustration taken, November 27, 2021. Moderna said the companies would use Immatics' drug discovery platform to develop mRNA-based cancer vaccines, and also study its own cancer vaccine for use in combination with Immatics' cancer therapy IMA203. Moderna is already developing a cancer vaccine with Merck (MRK.N), which was shown to cut the risk of recurrence or death by 44% in patients with deadly skin cancer melanoma, in a mid-stage trial. Under the terms of collaboration, Moderna will lead the development and commercialization of the cancer vaccines resulting from the collaboration, while Immatics will be responsible for pre-clinical and potential early-stage studies. Immatics will also receive research funding and is eligible for development, regulatory, and commercial milestone payments that could exceed $1.7 billion, Moderna said.

Persons: Dado Ruvic, Moderna, Immatics, Christy Santhosh, Anil D'Silva, Shounak Organizations: REUTERS, Moderna, Merck, Thomson Locations: COVID, Bengaluru

BERLIN, Aug 23 (Reuters) - Roche (ROG.S) inadvertently published positive lung cancer drug trial data from an interim analysis, boosting the Swiss drug maker's shares even though more data will be needed to confirm the treatment's efficacy. Roche said on Wednesday that market participants had made it aware of the inadvertent disclosure of an interim data analysis on new immunotherapy tiragolumab, part of an experimental class of drugs known as anti-TIGIT. The data lifted Roche shares by 5% and sent shares of other companies testing anti-TIGIT drugs higher. J.P. Morgan analysts said the interim data suggested a survival benefit was within reach in the final analysis, but the clinical relevance remained uncertain. The unintended disclosure regards the second interim analysis of a Phase III trial known as Skyscraper 1.

Persons: Roche, tiragolumab, Morgan, Roche's, TIGIT, Paul Arnold, Christy Santhosh, Jason Neely, Friederike Heine, Mark Potter Organizations: Merck & Co, Gilead Sciences, iTeos Therapeutics, Arcus Biosciences, Thomson Locations: U.S, Zurich, Bengaluru

Medtronic Plc logo is seen displayed in this illustration taken, April 10, 2023. Medtronic, which makes pacemakers, catheters and other tools used in heart and gastrointestinal surgeries, joins rivals, including Abbott Laboratories (ABT.N), Stryker (SYK.N) and Boston Scientific (BSX.N), on benefiting from a rise in non-urgent surgeries. CEO Geoff Martha said trends pointed to a recovery in surgical volumes as some procedures returned to stronger than pre-pandemic levels. Whereas, revenue from its medical surgical unit rose 5.5% to $2.04 billion. Medtronic also said that it was expecting to split its patient monitoring and respiratory interventions businesses in the first half of fiscal 2025.

Persons: Dado Ruvic, Stryker, Geoff Martha, It's, Martha, Edward Jones, John Boylan, Medtronic, Bhanvi Satija, Christy Santhosh, Shweta Agarwal Organizations: REUTERS, Abbott, Abbott Laboratories, Boston, Thomson Locations: Dublin, Bengaluru

☆ Medtronic raises forecast as demand for heart devices powers upbeat results
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 22 (Reuters) - Medtronic (MDT.N) on Tuesday raised its annual profit forecast, after beating first-quarter estimates on higher demand for its medical devices used in heart and gastrointestinal surgeries. A recovery in non-urgent procedures and easing staffing shortages following a decline in COVID-19 cases has boosted the demand for medical devices. Sales at Medtronic's heart devices unit, its biggest revenue driver, increased 5.5% to $2.85 billion for the first quarter, above analysts' estimates of $2.78 billion. Revenue for the quarter rose 4.5% to $7.70 billion, topping analysts' average estimate of $7.57 billion. Its adjusted profit of $1.20 per share for the quarter ended July 28 beat estimates of $1.11 per share.

Persons: Dado Ruvic, Medtronic, Stryker, Bhanvi Satija, Christy Santhosh, Shweta Agarwal Organizations: REUTERS, Abbott Laboratories, Boston, Revenue, Thomson Locations: COVID, Dublin, Bengaluru

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