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☆ New Pfizer RSV Vaccine Rolls Out Into Headwinds of Hesitancy
  + stars: | 2023-05-31 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/new-pfizer-rsv-vaccine-rolls-out-into-headwinds-of-hesitancy-74c8aece
Persons: Dow Jones Organizations: pfizer
☆ Merck Keeps Striking Out on Expanding Its Cancer-Drug Juggernaut
  + stars: | 2023-04-26 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Merck says it has been doing deals and developing new drugs to reduce its dependence on Keytruda for sales. Photo: David Crosling/EPA-EFE/ShutterstockThe gold rush from pioneering cancer immunotherapy Keytruda is about to run out for Merck & Co.Keytruda, one of the world’s top-selling drugs, powered its maker for the past decade. The therapy’s annual sales neared $21 billion last year, about a third of Merck’s revenue. Yet a drop in sales looms after Keytruda’s main patent expires in 2028.
☆ Bristol-Myers CEO Giovanni Caforio to Step Down
  + stars: | 2023-04-26 | by ( Jared S. Hopkins | Laura Cooper | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/bristol-myers-ceo-giovanni-caforio-to-leave-drugmaker-5de94f38
☆ Merck in Late-Stage Talks to Acquire Prometheus Biosciences
  + stars: | 2023-04-16 | by ( Laura Cooper | Lauren Thomas | Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Merck has been looking for deals to add new products to its pipeline. Merck & Co. is in late-stage talks to acquire Prometheus Biosciences Inc., according to people familiar with the matter, a move that could give the big drugmaker promising immune disease treatments. A deal for Prometheus could be announced as soon as Sunday, the people said, cautioning the talks could still fall apart.
☆ Merck to Acquire Prometheus Biosciences
  + stars: | 2023-04-16 | by ( Laura Cooper | Lauren Thomas | Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Merck has been looking for deals to add new products to its pipeline. Merck & Co. said it agreed to acquire Prometheus Biosciences Inc. for $10.8 billion, a push into the lucrative market for immune-disease treatments. Merck said Sunday it would acquire Prometheus at $200 a share, a roughly 75% premium to where shares closed on Friday, at $114.01. Prometheus had a market cap of $5.4 billion as of Friday’s market close. Its shares are up about 4% year-to-date.
☆ Drug Middlemen Accused of Price Fixing by Ohio Attorney General
  + stars: | 2023-03-27 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
A price-fixing lawsuit that Ohio filed Monday against several firms that manage billions of dollars in drug benefits ratchets up scrutiny of the companies while shining a spotlight on their new tactic using overseas subsidiaries. The lawsuit filed Monday by the Ohio attorney general in a state court alleges Cigna Corp., Humana Inc. and Prime Therapeutics LLC shared pricing and other information gathered by a Swiss subsidiary to gain leverage during negotiations with drugmakers for rebates.
☆ Diabetes Drug Giant Sanofi Cuts Insulin Prices by Up to 78%
  + stars: | 2023-03-16 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Sanofi plans to take a 78% list-price cut on its most widely used insulin in the U.S., joining other drugmakers facing criticism of insulin prices. French drugmaker Sanofi SA said it would cut the price of some of its insulin products by as much as 78% in the U.S., joining other big pharmaceutical companies facing pressure to reduce the cost of diabetes treatments. Sanofi plans to take a 78% list-price reduction on Lantus, the company’s most widely used insulin in the U.S., and a 70% cut on its Apidra product starting in January 2024, the company said Thursday.
☆ First Drugs Facing Medicare Price Penalty Named by U.S.
  + stars: | 2023-03-15 | by ( Stephanie Armour | Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Humira, which treats rheumatoid-arthritis, is one of the 27 drugs named by U.S. health officials whose prices went up more than the rate of inflation. U.S. health officials released the first list of drugs paid for by the government’s Medicare insurance program whose prices went up more than the rate of inflation and and will face a penalty under a new federal law. The Centers for Medicare and Medicaid Services on Wednesday named 27 drugs that had the large price increases, including rheumatoid-arthritis treatment Humira from AbbVie Inc. and Yescarta lymphoma therapy from Gilead Sciences Inc., and will face the price-increase penalty in the form of a rebate.
☆ First Drugs Facing Medicare Price Penalty Are Named
  + stars: | 2023-03-15 | by ( Stephanie Armour | Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Humira, for rheumatoid arthritis, is one of the drugs facing a price-increase penalty. U.S. health officials released the first list of drugs paid for by the government’s Medicare insurance program whose prices went up more than the rate of inflation and will face a penalty under a new federal law. The Centers for Medicare and Medicaid Services on Wednesday named 27 drugs that had the large price increases, including rheumatoid-arthritis treatment Humira from AbbVie Inc. and Yescarta lymphoma therapy from Gilead Sciences Inc., and will face the price-increase penalty in the form of a rebate.
☆ Pfizer Agrees to Buy Seagen for $43 Billion
  + stars: | 2023-03-13 | by ( Jared S. Hopkins | Jonathan D. Rockoff | ) www.wsj.com   time to read: 1 min
Pfizer has been looking for acquisitions to help it offset losses in sales. Pfizer Inc. has agreed to pay $43 billion for biotech Seagen Inc. and its pioneering class of targeted cancer drugs. Under the terms, Pfizer would pay $229 a share cash, the drugmaker said Monday. The companies expect the deal to close late this year or early next year.
☆ Why Big Drugmakers Want to Buy Cancer Biotech Seagen
  + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Pfizer is one drugmaker that has shown interest in buying Seagen, The Wall Street Journal recently reported. An unprofitable biotech that pioneered a relatively new kind of cancer therapy has caught the attention of the world’s largest drugmakers on the hunt for the next big opportunity in one of the industry’s most lucrative markets. Seagen Inc. sells three of the novel cancer agents—known as antibody drug conjugates, or ADCs—that work like a guided missile attacking tumors with toxins. Although the company’s products generate around $2 billion in yearly sales and the company operates at a loss, it has a market valuation of roughly $30 billion.
☆ Seagen’s Cancer Therapy Is Making It a Takeover Target
  + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Pfizer is one drugmaker that has shown interest in buying Seagen, The Wall Street Journal recently reported. An unprofitable biotech that pioneered a relatively new kind of cancer therapy has caught the attention of the world’s largest drugmakers on the hunt for the next big opportunity in one of the industry’s most lucrative markets. Seagen Inc. sells three of the novel cancer agents—known as antibody drug conjugates, or ADCs—that work like a guided missile attacking tumors with toxins. Although the company’s products generate around $2 billion in yearly sales and the company operates at a loss, it has a market valuation of roughly $30 billion.
☆ Moderna CEO Defends Pricing Plans for Covid-19 Shot
  + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Moderna Inc. Chief Executive Stéphane Bancel pushed back against criticism of the company’s pricing plans for its Covid-19 vaccine at Monday’s Wall Street Journal Health Forum. U.S. politicians including Sens. Bernie Sanders (I., Vt.), Elizabeth Warren (D., Mass.) and Peter Welch (D., Vt.) have questioned the company’s strategy around commercial pricing, which could be unveiled in the coming months. Moderna received funding from the U.S. government related to development of its Covid-19 vaccine.
☆ Moderna CEO Defends Pricing Plans for Covid Shot
  + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Moderna CEO Stéphane Bancel, said public funding sped the vaccine’s development. Moderna Inc. Chief Executive Stéphane Bancel pushed back against criticism of the company’s pricing plans for its Covid-19 vaccine at Monday’s Wall Street Journal Health Forum. Bernie Sanders (I., Vt.), Elizabeth Warren (D., Mass.) and Peter Welch (D., Vt.) have questioned the company’s strategy around commercial pricing, which could be unveiled in the coming months. Moderna received funding from the U.S. government related to development of its Covid-19 vaccine.
☆ Pfizer in Talks to Acquire Seagen in Deal Likely Valued at More Than $30 Billion
  + stars: | 2023-02-26 | by ( Jared S. Hopkins | Jonathan D. Rockoff | ) www.wsj.com   time to read: 1 min
Pfizer, one of the world’s biggest pharmaceutical companies, is flush with cash. Pfizer Inc. is in talks to acquire biotech Seagen Inc., according to people familiar with the matter, the latest potential deal for a big drug company aimed at adding a promising class of targeted cancer therapies. The talks are at an early stage and there is no guarantee there will be a deal, the people said. A number of hurdles would need to be overcome, including the potential for a stringent antitrust review of any proposal. If there is a deal, it would be big: Seagen has a market value of some $30 billion and would be expected to command a premium over that.
☆ Eye-Care Company Bausch + Lomb to Name Brent Saunders CEO
  + stars: | 2023-02-15 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Brent Saunders is expected to serve in his second stint as the head of Bausch + Lomb. Eye-care company Bausch + Lomb Corp. is expected to name Brent Saunders as chief executive officer and chairman of its board, according to people familiar with the matter. Mr. Saunders would succeed Joseph Papa , who had said last July that he would step down from his roles running the company and serving on its board. The leadership change could be announced as soon as Wednesday, the people said.
☆ Eye-Care Company Bausch + Lomb Names Brent Saunders CEO
  + stars: | 2023-02-15 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/eye-care-company-bausch-lomb-to-name-brent-saunders-ceo-e7eb0876
☆ Pfizer, Novartis, Merck Executives Say They Are Hunting for Deals Again
  + stars: | 2023-02-09 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/pfizer-novartis-merck-executives-say-they-are-hunting-for-deals-again-11675907783
☆ AbbVie Aims for New Drugs to Boost Sales as Competitors Target Humira
  + stars: | 2023-02-06 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Drugmaker AbbVie Inc. is looking for its next hit. Now that its blockbuster immune-disease therapy Humira is facing lower priced competition, AbbVie is turning to a pair of next-generation successors to replenish the billions of dollars in sales that will be lost, Chief Executive Richard Gonzalez said. It is also betting on four drug approvals by the end of next year.
☆ Drug Prices Increase 5.6% as Government Ramps Up Pressure to Lower Costs
  + stars: | 2023-02-02 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Pharmaceutical companies raised list prices of 983 arthritis, cancer and other prescription drugs by an average of 5.6% at the start of this year—restrained increases as the industry faces a new federal law aimed at lowering medicine costs. Pfizer Inc., Novartis AG and Eli Lilly & Co. are among the companies that took the price increases through Jan. 31, according to 46brooklyn Research, a nonprofit drug-pricing analytics group. In recent days, Germany’s Merck KGaA raised the list prices of 11 products, including the multiple-sclerosis therapy Rebif.
☆ Drugmakers Raise Prices on Nearly 1,000 Medicines but Show Restraint
  + stars: | 2023-02-02 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Pharmaceutical companies raised list prices of 983 arthritis, cancer and other prescription drugs by an average of 5.6% at the start of this year—restrained increases as the industry faces a new federal law aimed at lowering medicine costs. Pfizer Inc., Novartis AG and Eli Lilly & Co. are among the companies that took the price increases through Jan. 31, according to 46brooklyn Research, a nonprofit drug-pricing analytics group. In recent days, Germany’s Merck KGaA raised the list prices of 11 products, including the multiple-sclerosis therapy Rebif.
☆ Blockbuster Arthritis Drug Humira Faces Competition From First Lower-Price Copycat in U.S.
  + stars: | 2023-01-31 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Humira, which treats rheumatoid arthritis, psoriasis and other autoimmune diseases, accounts for about a third of AbbVie’s sales. AbbVie Inc.’s arthritis therapy Humira is set to face its first competition in the U.S. from a near-identical copycat, the end of the exclusive run of what was for years the country’s biggest-selling drug. After two decades of patent protection and more than $135 billion in U.S. sales, Humira will contend with the near-identical version from Amgen Inc. starting Tuesday, Amgen said. Other Humira copycats are due to become available later this year.
☆ J&J Slashes Production of Its Unpopular Covid-19 Shot
  + stars: | 2023-01-13 | by ( Jared S. Hopkins | Peter Loftus | ) www.wsj.com   time to read: 1 min
After mobilizing to quickly develop and manufacture a Covid-19 vaccine, Johnson & Johnson has vastly scaled back its efforts in producing the shots as it faces slumping demand. The New Brunswick, N.J., pharmaceutical company in recent months terminated manufacturing agreements with companies that helped produce the shot during the pandemic such as Catalent Inc. and Sanofi SA.
☆ Drugmakers Spent Freely in 2022 to Protect Revenue
  + stars: | 2022-12-30 | by ( Jared S. Hopkins | Laura Cooper | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/drugmakers-spent-freely-in-2022-to-protect-revenue-11672364949
☆ Why Many Cold Medicines Don’t Work to Relieve Congestion
  + stars: | 2022-12-22 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Dozens of over-the-counter pills, syrups and liquids rely on an ingredient called phenylephrine to clear up stuffy noses. Some of the most widely used decongestants don’t work, several studies have found, prompting doctors and researchers to call for ending sales of the drugs. Versions of Benadryl, Mucinex and Tylenol, which more people are taking now as reports of respiratory infections increase, are among dozens of over-the-counter pills, syrups and liquids that rely on an ingredient called phenylephrine to clear up stuffy noses. The ingredient has proven safe, but at least four studies have found the medicines don’t relieve congestion.
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