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☆ Pfizer drops plan to study twice-daily obesity pill in late-stage studies
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

A person walks past the Pfizer Headquarters building in the Manhattan borough of New York City, New York, U.S., November 9, 2020. Pfizer said it would instead focus on a once-daily, modified release version of danuglipron and "gathering the data to understand its potential profile". In the current study of the twice-daily version, Pfizer said the drug, however, met the main goal of reducing weight in adults with obesity and without type 2 diabetes. Pfizer said while the common side effects in the twice-daily version study were mild, it saw high rates of those events in the trial. However, no new safety signals were observed in the study, Pfizer said.

Persons: Carlo Allegri, danuglipron, Eli Lilly's, Mikael Dolsten, Pfizer, Manas Mishra, Michael Erman, Shinjini Organizations: Pfizer, REUTERS, Zepbound, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru, New York

☆ GSK CEO says RSV vaccine revenue to top 1 bln pounds in first year
▼ + stars: | 2023-11-30 | by ( Michele Gershberg | ) www.reuters.com time to read: +4 min

GSK had previously forecast 2023 sales for Arexvy between 900 million pounds and 1 billion pounds ($1.26 billion) following a strong U.S. launch. "We’re delighted with the start of our RSV vaccine," Walmsley said in a Reuters Newsmaker interview. The U.S. Food and Drug Administration (FDA) approved Arexvy for adults aged 60 years or older in May and GSK launched the vaccine in the U.S. later in the year. GSK made close to two-thirds of RSV doses given in the United States since early September, according to IQVIA data earlier this month. On Tuesday, rival Pfizer (PFE.N) said it was disappointed in the performance of its RSV shot Abrysvo compared with GSK.

Persons: Walmsley, GSK's, Emma Walmsley, We’re, David Denton, AstraZeneca's, commercialise Johnson, Ludwig Burger, Michael Erman, Josephine Mason, Kirsten Donovan, Elaine Hardcastle Organizations: GSK, Reuters, U.S . Food, Drug Administration, Pfizer, U.S, Thomson Locations: British, U.S, Europe, Japan, United States

☆ Pfizer swings to quarterly loss as COVID product demand slump sparks charges
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +3 min

The company recorded a $5.6 billion charge in the third quarter related to Paxlovid and vaccine Comirnaty, most of which was disclosed earlier this month. Paxlovid sales slumped 97% in the third quarter to $202 million, while vaccine revenue came in at $1.31 billion, down from $4.4 billion a year earlier. Analysts had expected sales of $1.44 billion for the vaccine and $618.20 million for Paxlovid, according to LSEG data. Sales of its recently launched respiratory syncytial virus (RSV) vaccine, Abrysvo, came in at $375 million for the quarter. Overall revenue was $13.23 billion, compared to $22.64 billion a year earlier.

Persons: Wolfgang Rattay, Evan Seigerman, Bhanvi Satija, Michael Erman, Sriraj Organizations: REUTERS, Pfizer, U.S, BioNTech, Analysts, BMO Capital, U.S ., Thomson Locations: Bengaluru, New York

Paxlovid, Pfizer's anti-viral medication to treat the coronavirus disease (COVID-19), is displayed in this picture illustration taken October 7, 2022. Sales of Paxlovid and the vaccine Pfizer makes with German partner BioNTech (22UAy.DE) had boosted revenue to record levels the last two years. Reuters GraphicsPfizer continues to expect 2023 revenue growth of 6%-8% from non-COVID products, with a majority occurring in the second half. Paxlovid sales slumped 97% in the third quarter to $202 million, while vaccine revenue of $1.31 billion was down from $4.4 billion a year earlier. Analysts had expected $1.44 billion for the vaccine and $618.20 million from Paxlovid, according to LSEG data.

Persons: Wolfgang Rattay, Evan Seigerman, BioNTech, Albert Bourla, Angela Hwang, Paxlovid, Bhanvi Satija, Michael Erman, Sriraj Kalluvila, Bill Berkrot Organizations: REUTERS, Pfizer, BMO Capital, Reuters Graphics Pfizer, GSK, CVS, Analysts, U.S ., Thomson Locations: Europe, Paxlovid, Bengaluru, New York

☆ Pfizer RSV vaccine lags GSK’s as head-to-head competition underway
▼ + stars: | 2023-10-30 | by ( Michael Erman | ) www.reuters.com time to read: +4 min

[1/3] View of Pfizer's new respiratory syncytial virus (RSV) vaccine Abrysvo during its manufacture in this undated handout picture. "800 POUND GORILLAS"CVS, which has more than 9,000 U.S. locations, declined to comment on why it was only carrying GSK's vaccine. It was not immediately clear how many RSV shots were being administered in pharmacies versus doctors' offices. GSK declined to discuss its RSV vaccine contracts, but said customer relationships gives it a competitive advantage. Two independent pharmacists said they are being charged a lower price by wholesalers for the GSK vaccine, which comes in boxes of 10.

Persons: Price, Ben Link, Link, Pfizer's, Dovato, Morningstar, Damien Conover, We’ve, Alison Hunt, Michelle Vargas, Michael Erman, Caroline Humer, Bill Berkrot Organizations: Pfizer, Handout, REUTERS, GSK, Reuters, CVS Health, CVS, Walgreens, Walmart, Aid, Thomson Locations: United States, British, U.S, South Carolina

Such forecasts have prompted a sell-off in a wide range of companies from makers of bariatric surgery devices to companies whose products address the health issues created by excess weight, from diabetes to sleep apnea. "The market is in a shoot-first, ask-questions-later mood when it comes to weight-loss drugs," said Nicholas Anderson, manager of the Thornburg International Growth Fund, which holds shares of Novo Nordisk. By contrast, the iShares U.S. Medical Devices exchange-traded fund has lost more than 22% in the last three months. Injectable weight-loss drugs, known as GLP-1 receptor agonists, are considered highly effective but are also expensive, costing more than $1,300 per month. "Overall, we'll see an increased interest in bariatric surgery, but that will get delayed in the short term."

Persons: Doctor Thomas Horbach, Wegovy, Nicholas Anderson, Eli Lilly, Kenneth Stein, Margaret Kaczor Andrew, William Blair, Michael Farrell, Jeff Jonas, Johnson, Myriam Curet, Ann Hynes, Hynes, David Gaffen, Manas, Michael Erman, Caroline Humer, Sonali Paul Organizations: Novo Nordisk, Healthcare, Growth Fund, Medical Devices, Boston, Gabelli Funds, Johnson, Reuters, Mizuho Securities, Manas Mishra, Thomson Locations: Germany, Munich, Danish, U.S, Boston, GLP, New York, Bengaluru

☆ Merck quarterly profit tops expectations on COVID pill surprise
▼ + stars: | 2023-10-26 | by ( Michael Erman | ) www.reuters.com time to read: +2 min

The Merck logo is seen at a gate to the Merck & Co campus in Rahway, New Jersey, U.S., July 12, 2018. Merck raised Lagevrio full-year sales forecast to $1.3 billion. Third-quarter sales of Merck's top-selling cancer immunotherapy, Keytruda, stood at $6.34 billion, surpassing analysts' average estimate of $6.22 billion. Gardasil, its vaccine to prevent cancers caused by human papillomavirus (HPV), generated sales of $2.59 billion, rising 13% but missing analysts' average estimate of $2.69 billion. The company posted sales of $15.96 billion in the reported quarter, compared to the average analyst estimate of $15.3 billion.

Persons: Brendan McDermid, Molnupiravir, Merck, Wells, Mohit Bansal, drugmaker, Michael Erman, Leroy Leo, Bill Berkrot Organizations: Merck, Co, REUTERS, Merck & Co, Pfizer's, Thomson Locations: Rahway , New Jersey, U.S, Japan, United States, EU

☆ Bristol Myers says it needs another year to hit target for new drugs
▼ + stars: | 2023-10-26 | by ( Michael Erman | ) www.reuters.com time to read: +2 min

Bristol Myers reported that it earned $4.1 billion, or $2 per share, in the third quarter, down from $4.3 billion, or $1.99 a share, a year earlier. Analysts, on average, had expected earnings per share of $1.76. It now expects earnings per share in the range of $7.50 to $7.65, up from its previous target of $7.35 to $7.65. Chief Operating Officer Chris Boerner is expected to become chief executive of Bristol Myers next month, replacing current CEO Giovanni Caforio. Earlier in October, BMS agreed to buy cancer drugmaker Mirati Therapeutics (MRTX.O) for up to $5.8 billion, in an attempt to diversify its oncology business.

Persons: David Elkins, Bristol Myers, Chris Boerner, Giovanni Caforio, Michael Erman, Sriparna Roy, Leslie Adler Organizations: Bristol Myers Squibb, BMS, Bristol, Therapeutics, Thomson Locations: The New Jersey

☆ Pfizer to price COVID treatment Paxlovid at $1,390 per course
▼ + stars: | 2023-10-18 | by ( Michael Erman | ) www.reuters.com time to read: +3 min

The new list price, which does not include rebates and other discounts to insurers and pharmacy benefit managers, is $1,390 per course, Pfizer said in an emailed statement. The U.S. government paid around $530 per course for Paxlovid it has made available to Americans at no cost. The United States purchased around 24 million courses of the oral two-drug treatment from Pfizer, and still had a large supply, but arranged to return 7.9 million courses last week. In 2022, patients were given around 7 million courses of the drug, according to U.S. government data. Through Oct. 1, around 3.4 million courses had been administered in 2023.

Persons: Wolfgang Rattay, Paxlovid, Michael Erman, Bill Berkrot Organizations: REUTERS, Pfizer, for Clinical, Economic, United, Wall Street, Thomson Locations: U.S, United States, Maplewood , N.J

Vaccine makers are depending on the U.S. market as many countries have more limited yearly campaigns for giving updated shots. For BioNTech, Moderna, and Novavax (NVAX.O), COVID vaccines remain their only approved products. Shares of Pfizer were up nearly 5%, however, buoyed by a $3.5 billion cost-cutting plan the drugmaker announced late on Friday alongside its new COVID sales outlook. Moderna, in a statement on Monday, maintained its current revenue forecast of $6 billion to $8 billion for its COVID vaccine for 2023. Jefferies analyst Michael Yee said Pfizer's new COVID outlook implies lower vaccine sales for Moderna than it had forecast.

Persons: Dado, BioNTech, Albert Bourla, Bourla, Mani Foroohar, Foroohar, Jefferies, Michael Yee, Ludwig Burger, Rachel More, Michael Erman, Bhanvi Satija, Manas, Jonathan Oatis, Caroline Humer, Bill Berkrot Organizations: COVID, Institute for Health, Food, REUTERS, Pfizer, Moderna, Manas Mishra, Thomson Locations: Zenica, Bosnia, Herzegovina, Frankfurt, Novavax, U.S, New York, Bengaluru

☆ Pfizer slashes revenue forecast on lower COVID sales, will cut costs
▼ + stars: | 2023-10-13 | by ( Michael Erman | ) www.reuters.com time to read: +3 min

Pfizer and rivals have begun selling an updated COVID vaccine for this fall. The drugmaker said it now expects 2023 revenue of between $58 billion and $61 billion, down from its prior forecast of $67 billion to $70 billion. It had previously expected Paxlovid revenue of about $8 billion for the year. Pfizer also cut full-year revenue expectations for the COVID vaccine by about $2 billion due to lower-than-expected vaccination rates. Pfizer said its non-COVID products remain on track to achieve 6% to 8% revenue growth year over year in 2023.

Persons: Albert Boura, Michael Erman, Sriparna Roy, Bill Berkrot, Rod Nickel Organizations: Pfizer, U.S ., Strategic, Thomson Locations: York, New Jersey, Bengaluru

☆ Bristol-Myers Squibb to acquire Mirati in up to $5.8 billion deal
▼ + stars: | 2023-10-09 | by ( Michael Erman | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 8 (Reuters) - Bristol-Myers Squibb (BMY.N) on Sunday said it will acquire cancer drugmaker Mirati Therapeutics (MRTX.O) for up to $5.8 billion, diversifying its oncology business and adding drugs it hopes can help offset expected lost revenue from patent expirations later this decade. Bristol will pick up Mirati's portfolio drugs that target the genetic drivers of specific cancers including its lung cancer drug, Krazati, which was approved in December. The company said that it will buy Mirati for $58 per share in cash, or around $4.8 billion. Mirati has around $1.1 billion in cash on hand, so "we're paying essentially $3.7 billion enterprise value...we think with that we've gotten a very attractive deal," Lenkowsky said. Last year, Bristol acquired drug developer Turning Point Therapeutics for $4.1 billion in cash to help bolster its arsenal of cancer drugs.

Persons: Bristol Myers, Dado Ruvic, Adam Lenkowsky, Mirati, we've, Lenkowsky, Chris Boerner, Giovanni Caforio, Boerner, Lavanya Ahire, Lisa Shumaker, Diane Craft, Andrea Ricci, Michael Perry Organizations: Bristol, Bristol Myers Squibb, REUTERS, Myers Squibb, Therapeutics, U.S . Food, Drug Administration, Bristol Myers, Thomson Locations: Bristol, U.S, New York

☆ Updated Novavax COVID-19 vaccine shipped to distributors, to be available this week
▼ + stars: | 2023-10-09 | by ( Michael Erman | ) www.reuters.com time to read: +1 min

Syringes with needles are seen in front of a displayed Novavax logo in this illustration taken, November 27, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Novavax Inc FollowNEW YORK, Oct 9 (Reuters) - Vaccine maker Novavax Inc (NVAX.O) on Monday said it has shipped millions of doses its updated COVID-19 shots to distributors after receiving the go-ahead from U.S. regulators. The U.S. Food and Drug Administration authorized the updated vaccine last week for emergency use in individuals aged 12 years and older, but batches of the shots needed additional clearance from the FDA before they could be released. Novavax said it expects the shots to be available at U.S. pharmacies this week. The Maryland-based company, whose COVID vaccine is its lone marketed product, has adopted cost-cutting measures and is counting on commercial sales of its updated shot to help it stay afloat.

Persons: Dado Ruvic, Novavax, COVID, Michael Erman, Mark Porter, David Gregorio Our Organizations: REUTERS, Novavax Inc, U.S . Food, Drug Administration, FDA, Thomson Locations: U.S, Maryland

The U.S. government in May ended the COVID public health emergency declaration during which it bought the shots and provided them to all Americans for free. In the current privatized system, health insurance plans by law must cover the shots at no cost. McKesson (MCK.N), one of the largest U.S. wholesalers, said it has distributed over 3.8 million shots so far. "Health insurance providers continue to educate Americans about where and how to get their COVID vaccines within their plan’s coverage," David Allen, a spokesperson for insurance lobby group AHIP said. Now that the government is no longer footing the bill for their vaccine supply, pharmacy owners need to pay for the shots.

Persons: Kate MacDowell, MacDowell, Kaiser, David Allen, AHIP, David Kohll, James Daily, he's, Suzanne Berman, Michael Erman, Ahmed Aboulenein, Caroline Humer, Bill Berkrot Organizations: Pfizer, U.S . Department of Health, Human Services, Kaiser Permanente, COVID, Moderna, CVS, Walmart, Walgreens, Walgreens Boots Alliance, Cardinal Health, Reuters, Kohll's Pharmacy, Thomson Locations: WASHINGTON, U.S, Portland , Oregon, Oregon, California, Nebraska, Readington , New Jersey, Crossville , Tennessee, New York, Washington

☆ US plans shift of Merck COVID treatment to commercial market
▼ + stars: | 2023-10-04 | by ( Michael Erman | ) www.reuters.com time to read: +3 min

A COVID-19 treatment pill, called molnupiravir developed by Merck & Co and Ridgeback Biotherapeutics LP is seen in this undated handout photo released by Merck & Co Inc and obtained by Reuters May 17, 2021. Merck & Co Inc/Handout via REUTERS/File photo Acquire Licensing RightsOct 4 (Reuters) - The U.S. government will stop distributing free doses of Merck & Co's (MRK.N) COVID-19 antiviral treatment molnupiravir by the middle of next month and expects it to be sold on the commercial market instead. Molnupiravir was initially hailed as a potential breakthrough when few treatment options were available but was soon eclipsed by Pfizer's (PFE.N) rival treatment Paxlovid, which had more impressive data. Merck said the study was limited and that it is confident in the clinical profile of the drug. Merck said it would have a patient assistance program for people who cannot afford the drug.

Persons: Ridgeback Biotherapeutics, Molnupiravir, Merck, Michael Erman, Bill Berkrot Organizations: Merck & Co, Merck & Co Inc, Reuters, Merck, Co Inc, REUTERS, U.S, Co's, Administration, Strategic Preparedness, U.S . Department of Health, Human Services, U.S . Food, Drug Administration, Pfizer's, Thomson Locations: U.S, United States

☆ About 4 mln Americans got their updated COVID vaccines in Sept.
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: 1 min

[1/2] An exterior view of the United States Health and Human Services Building on C Street Soutwest in Washington, U.S., July 29, 2019. REUTERS/Tom Brenner/File Photo Acquire Licensing RightsOct 4 (Reuters) - Around 4 million Americans received the updated COVID-19 vaccines in September, according to a spokesperson for the U.S. Department of Health and Human Services, even as some have found it difficult to book appointments or pay for the vaccines. "The Biden-Harris Administration, through HHS, has been working directly with manufacturers and distributors to ensure that the vaccines are getting to pharmacies, hospitals, clinics, and other vaccination sites, including long-term care facilities as quickly as possible," the spokesperson said in an emailed statement. Reporting by Michael ErmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Tom Brenner, Harris, Michael Erman Organizations: United States Health, Human, REUTERS, U.S . Department of Health, Human Services, Biden, Harris Administration, HHS, Thomson Locations: Washington , U.S

A vial labelled "Novavax COVID-19 Vaccine" is seen in this illustration taken January 16, 2022. The Maryland-based company, whose COVID vaccine is its lone marketed product, has adopted cost-cutting measures and is counting on commercial sales of its updated shot to help it stay afloat. The CDC's Advisory Committee on Immunization Practices (ACIP) will not meet again to discuss the Novavax shot, a spokesperson said. Novavax's original COVID shot received U.S. authorization in July 2022, long after Pfizer and Moderna vaccines were in use. All three of the updated shots target the XBB.1.5 variant of the coronavirus.

Persons: Dado Ruvic, BioNTech, COVID, John Jacobs, Jacobs, Sriparna Roy, Bill Berkrot Organizations: REUTERS, U.S . Food, Drug Administration, U.S . Centers for Disease Control, Prevention, Pfizer Inc, Moderna, FDA, Pfizer, Moderna's, Thomson Locations: U.S, Maryland, Bengaluru

☆ Explainer: What you need to know about RSV and the new vaccines
▼ + stars: | 2023-09-22 | by ( Michael Erman | ) www.reuters.com time to read: +4 min

That Pfizer (PFE.N) shot and one developed by GSK (GSK.L) in May became the first two RSV vaccines to win U.S. approval, for use in people aged 60 and over to prevent severe illness. Still, infants and older adults have a higher risk of developing severe RSV. RSV leads to 58,000 to 80,000 hospitalizations among children under age 5, and 60,000 to 160,000 hospitalizations among adults age 65 and older each year, according to the CDC. Early data suggests that the RSV shots are protective for at least two years, but it is not yet clear how often older adults will need to be revaccinated. Can I get the RSV shot alongside my COVID and flu shots?

Persons: Pfizer's, Synagis, it's, Jeffrey Duchin, you've, Michael Erman, Bhanvi, Caroline Humer, Bill Berkrot Organizations: . Centers for Disease Control, Prevention, Pfizer, GSK, CDC, FDA, Sanofi, AstraZeneca, Infectious Diseases Society of America, CVS, Humana, Thomson Locations: U.S, Aetna, New York, Bengaluru Edtiting

☆ Europe to decide on Novavax's COVID vaccine in October
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Four vials with the "Nuvaxovid" COVID-19 vaccine from Novavax are pictured in Saabruecken, Germany, February 26, 2022. REUTERS/Frank Simon/File photo Acquire Licensing RightsSept 21 (Reuters) - The European Medicines Agency (EMA) expects to decide on the use of Novavax's (NVAX.O) updated COVID-19 vaccine in October, its director Emer Cooke said on Thursday. The agency had started the evaluation process for the protein-based shot on Aug. 24, Cooke said at a press conference. EU regulators recently gave the green light for an updated COVID-19 vaccine from Pfizer (PFE.N) and its German partner BioNTech (22UAy.DE), which targets the XBB.1.5 variant of Omicron. Moderna's (MRNA.O) updated shot is also on track to win approval.

Persons: Frank Simon, Emer Cooke, Cooke, BioNTech, Novavax, Bhanvi, Michael Erman, Saumyadeb Chakrabarty Organizations: REUTERS, European Medicines Agency, Pfizer, U.S . Food, Drug Administration, FDA, Moderna, Thomson Locations: Saabruecken, Germany, United States, Bengaluru, New York

The nationwide online poll, which concluded on Thursday, showed that almost 30% of respondents were very interested in getting the vaccine and another 24% were somewhat interested. U.S. public health officials earlier this week recommended updated COVID-19 vaccines from Pfizer (PFE.N)/BioNTech (22UAy.DE) and Moderna (MRNA.O) that target a recently circulating Omicron variant of the coronavirus. Almost 42% said they were mainly interested in getting the vaccine to reduce their risk of severe illness. During the last revaccination campaign, when most Americas had either already had the COVID virus or been previously vaccinated, only around 56.5 million people got the updated booster shots, CDC data shows. The Reuters/Ipsos poll was conducted online and nationwide between Sept. 8 and Sept. 14, gathering responses from 4,413 U.S. adults.

Persons: Adam Berman, Michelle Chester, Ron DeSantis, Jesse Goodman, Ahmed Aboulenein, Jason Lange, Michael Erman, Jennifer Rigby, Scott Malone, Leslie Adler Organizations: Jewish Medical Center, Northwell Health, Reuters, U.S . Centers for Disease Control, Pfizer, Moderna, Republicans, Republican, Wednesday, Georgetown University, U.S . Food, Drug Administration, Thomson Locations: Long, New Hyde Park , New York, WASHINGTON, United States, ., U.S, Americas, Washington, New York, London

☆ US FDA authorizes Pfizer-BioNTech and Moderna's updated COVID shots
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

[1/3] Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. A third shot, made by Novavax (NVAX.O), is still under review by the FDA. But obviously that requires that FDA have decided the data supports it," said Jesse Goodman, a professor at Georgetown and former FDA chief scientist. Moderna and Pfizer, which is partnered with German biotech firm BioNTech SE (22UAy.DE), said the updated vaccines were expected to be available the United States in the coming days. An endorsement by CDC Director Mandy Cohen, expected shortly, should clear the way for the new shots.

Persons: Andrew Kelly, Novavax, Jesse Goodman, —, Mandy Cohen, Cohen, Sriparna Roy, Mariam Sunny, Michael Erman, Shinjini Organizations: Food and Drug Administration, FDA, REUTERS, Pfizer, Moderna, U.S . Food, Drug Administration, for Disease Control, Prevention, Georgetown, EG, CDC, Thomson Locations: White Oak , Maryland, U.S, United States, Bengaluru, New York

☆ Moderna, Pfizer say updated COVID shots generate strong response vs newer variant
▼ + stars: | 2023-09-06 | by ( Patrick Wingrove | ) www.reuters.com time to read: +3 min

Moderna said its shot generated an 8.7-fold increase in neutralizing antibodies against BA.2.86 compared with an untreated natural antibody response in clinical trials in humans. Pfizer said its updated vaccine with partner BioNTech (22UAy.DE) elicited a strong antibody response against BA.2.86 in a preclinical study in mice. Moderna, Pfizer/BioNTech and relative newcomer to the COVID vaccine market Novavax (NVAX.O) have created versions of their shots aimed at the XBB.1.5 subvariant, the dominant variant through most of 2023. Moderna shares were down 1.6% and Pfizer shares were off nearly 3% in afternoon trading. The Omicron offshoot carries more than 35 mutations in key portions of the virus compared with XBB.1.5, the target of the updated shots.

Persons: Moderna, Jacqueline Miller, BioNTech, Cowen, Tyler Van Buren, Dado Ruvic, Patrick Wingrove, Michael Erman, Bill Berkrot Organizations: Pfizer, World Health Organization, WHO, U.S . Centers for Disease Control, Prevention, ” Moderna, Moderna, REUTERS, CDC, Omicron, U.S . Food, Drug Administration, Britain's Medicines, Healthcare, Agency, Reuters, Thomson Locations: Switzerland, South Africa, Israel, Denmark, U.S, Britain, New York, New Jersey

He said that once implemented, the prices on negotiated drugs will decrease for up to 9 million seniors who currently pay as much as $6,497 in out-of-pocket costs per year for these prescriptions. This kicks off the negotiation process for the 10 drugs whose new prices will go into effect in 2026. U.S. laws had prohibited Medicare from negotiating pharmaceutical prices as part of its prescription drug program that began about 20 years ago. CMS Director Dr. Meena Seshamani said Medicare plans to use a review process to make sure insurance companies keep clinically appropriate access to negotiated drugs. Two analysts said they expect the negotiated prices to move beyond Medicare and affect commercial markets for these drugs by 2026, when they come into effect.

Persons: Joe Biden, Jonathan Ernst, Biden, Joe Biden’s, Januvia, Xarelto, Johnson, Boehringer Ingelheim, Eli Lilly's, Jardiance, Mohit Bansal, Entresto, Eli Lilly, Merck, Bristol Myers, Giovanni Caforio, Caforio, enrollees, Meena Seshamani, Stelara, Amgen, Evan Seigerman, Patrick Wingrove, Mike Erman, Manas Mishra, Nandita Bose, Caroline Humer, Bill Berkrot Organizations: Social Security, University of Tampa, REUTERS, U.S, Bristol Myers Squibb, Pfizer, Merck, Co's, Johnson, Novo Nordisk, NYSE Arca Pharmaceutical, U.S . Centers, Medicare, Medicaid Services, Reuters Graphics Wells, Novartis, AstraZeneca, Bristol, J, U.S . Department of Health, Human Services, BMO Capital, Thomson Locations: Tampa , Florida, U.S, Amgen's, Jardiance, Germany, Bengaluru, Washington

☆ Covid Eris: What to know about new variant EG.5 dominating U.S. cases
▼ + stars: | 2023-08-14 | by ( Michael Erman | ) www.reuters.com time to read: +2 min

NEW YORK, Aug 14 (Reuters) - COVID infections and hospitalizations are on the rise in the U.S., Europe and Asia. Health officials are pointing at the EG.5 "Eris" coronavirus, a subvariant of the Omicron lineage that originally emerged November of 2021. EG.5 had been found in more than 50 countries as of August 8, according to the WHO. It is the most common and fastest growing COVID-19 subvariant in the U.S., estimated to be responsible for around 17% of current COVID cases, according to the CDC. EG.5 is similar to XBB.1.5 although the newer subvariant carries one mutation to its spike protein, the part of the virus targeted by the vaccine.

Persons: Mandy Cohen, Cohen, Michael Erman, Caroline Humer, Diane Craft Organizations: Health, EG, Omicron, World Health Organization, WHO, CDC, Pfizer, Thomson Locations: U.S, Europe, Asia

☆ New Covid vaccines are on the way as 'Eris' variant rises
▼ + stars: | 2023-08-14 | by ( Michael Erman | ) www.reuters.com time to read: +5 min

Some public health experts hope that Americans will welcome the new shot as they would a flu jab. In the fall of 2022, by which time most people had either had the COVID virus or the vaccine, fewer than 50 million people got the shots. Its biggest rival, Moderna, conceded demand could be as few as 50 million shots. POST PANDEMIC VACCINEThe COVID public health emergency ended in May and the government has handed much of the duty of vaccinating America to the private sector. As with the flu, Pfizer (PFE.N)/BioNTech SE (22UAy.DE), Moderna (MRNA.O) and Novavax (NVAX.O), have created versions of the COVID vaccine to try to match the variant they believe will be circulating this fall.

Persons: Dado Ruvic, Ashley Kirzinger, Kirzinger, BioNTech, Jefferies, Michael Yee, " Yee, Mandy Cohen, William Schaffner, Schaffner, David Boulware, Michael Erman, Caroline Humer, Diane Craft Organizations: REUTERS, CVS Health, Family, Reuters, Pfizer –, Moderna, Pfizer, U.S . Centers for Disease Control, Prevention, CDC, U.S . Food, Drug Administration, EG, Vanderbilt University, University of Minnesota, Thomson Locations: U.S, America, United States, COVID, CDC's

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