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Aug 21 (Reuters) - The U.S. Food and Drug Administration on Monday approved Pfizer's (PFE.N) respiratory syncytial virus (RSV) vaccine for use in women during the middle of the third trimester of pregnancy to protect their babies. An FDA panel of outside experts backed the safety and effectiveness of Pfizer's RSV vaccine for women in their second and third trimesters earlier in May. RSV is a common respiratory virus that usually causes mild, cold-like symptoms but can also lead to serious illness and hospitalization. Infants are at greatest risk for severe illness from RSV. An estimated 58,000 to 80,000 children below the age of five years are hospitalized every year due to RSV infection in the U.S., according to government data.

Persons: Pfizer, Mariam Sunny, Bhanvi, Patrick Wingrove, Caroline Humer, Bill Berkrot Organizations: U.S . Food, Drug Administration, FDA, Pfizer, U.S . Centers for Disease Control, Sanofi, AstraZeneca, GSK, Thomson Locations: U.S, United States, Bengaluru, New York

☆ J&J to hold 9.5% stake in Kenvue after share exchange offer
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

The company logo for Kenvue Inc. Johnson & Johnson's consumer-health business, is displayed on during the company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 21 (Reuters) - Johnson & Johnson (JNJ.N) said on Monday it was expecting to retain a stake of about 9.5% in its newly separated consumer health unit, Kenvue (KVUE.N), after completing a share exchange offer. Shares of the consumer health company rose 1.4% in premarket trading. ‍J&J launched the exchange offer last month under which its stockholders could opt for shares of the former consumer health unit related to the spinoff. Reporting by Bhanvi Satija and Mariam Sunny in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Johnson, ‍, J, Bhanvi Satija, Mariam Sunny, Anil D'Silva Organizations: Kenvue Inc, Johnson, New York Stock Exchange, REUTERS, Thomson Locations: New York City, U.S, Bengaluru

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. The regional health insurance provider will still retain CVS Caremark for managing specialty drugs, which are costly medications used to treat complex conditions like cancer and rheumatoid arthritis. Other analysts highlighted difficulties in shifting to a different model than the one offered by companies like CVS - which provide other services including home drug delivery and reimburse pharmacies for patients' prescriptions. Amazon Pharmacy will provide at-home delivery of prescription drugs as well as upfront pricing, while Mark Cuban Cost Plus Drug Company will provide access to generic drugs, Blue Shield said. Blue Shield of California's other partners include privately held Abarca for processing claims related to prescription drugs, while smaller PBM Prime Therapeutics will work to negotiate savings with drugmakers.

Persons: Dado Ruvic, Cigna, UnitedHealth, Mark, Elizabeth Anderson, J.P, Morgan, Lisa Gill, Gill, Blue, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai, Krishna Chandra Eluri, Frances Kerry Organizations: CVS, REUTERS, Amazon, Cigna, UnitedHealth, Evercore ISI, Mark Cuban, Plus, Thomson Locations: Bengaluru

☆ Blue Shield of California drops CVS, taps Amazon and others to lower drug costs
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. Blue Shield, whose health plans cover 4.8 million members, said it will now work with five different companies, including Mark Cuban's drug company, to provide "convenient, transparent access to medications while lowering costs." Privately held Abarca will pay prescription drug claims, while Prime Therapeutics will work with Blue Shield to negotiate savings with drugmakers, the company said. Blue Shield will also work with CVS Caremark for specialty pharmacy services. The loss of the Blue Shield pharmacy benefit management contract is another blow to Caremark, which is also set to lose the contract to manage Centene's (CNC.N) $40 billion annual pharmacy needs from next year.

Persons: Dado Ruvic, UnitedHealth, Mark Cuban's, Paul Markovich, Mark, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai Organizations: CVS, REUTERS, Blue, Cigna, UnitedHealth, Pharmacy, Wall Street, Mark Cuban, Plus, Thomson Locations: Blue, Bengaluru

☆ Blue Shield California drops CVS; picks Amazon, others to lower drug price
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. Non-profit health plan provider Blue Shield, which has 4.8 million members, said it will work with partners including Amazon.com and Mark Cuban's Cost Plus Drug Company to provide at-home delivery and access to low-cost medications. Privately held Abarca will pay prescription drug claims, while Prime Therapeutics will work with Blue Shield to negotiate savings with drugmakers, the company said. Blue Shield will also work with CVS Caremark for specialty pharmacy services. The loss of Blue Shield marks another blow to Caremark, which is also set to lose the contract to manage Centene's (CNC.N) $40 billion annual pharmacy needs from next year.

Persons: Dado Ruvic, Cuban's, Privately, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai Organizations: CVS, REUTERS, Wall Street Journal, Cigna, UnitedHealth, Company, Thomson Locations: Bengaluru

☆ Drug distributor Cardinal sees sales boost from weight-loss drugs in 2024
▼ + stars: | 2023-08-15 | by ( Mariam E Sunny | ) www.reuters.com time to read: +2 min

Aug 15 (Reuters) - Drug distributor Cardinal Health Inc (CAH.N) on Tuesday raised fiscal 2024 expectations for sales at its pharmaceutical unit, banking on growing demand for newer weight-loss drugs, including GLP-1 treatments. Cardinal peers AmerisourceBergen (ABC.N) and McKesson (MCK.N) have also flagged a potential boost to revenues for drug distributors due to high demand for these drugs. It now expects revenue from its pharmaceuticals unit to rise 10% to 12% in fiscal 2024, compared with its previous expectation of about 10% growth. It raised its 2024 profit forecast slightly to a range of $6.50 to $6.75 per share, from $6.45 to $6.70 it had forecast previously. Excluding one-off items, Cardinal Health reported a profit of $1.55 per share in the fourth quarter ended June 30, topping expectations of $1.49 per share.

Persons: Novo, Eli Lilly's, it's, Cardinal, AmerisourceBergen, Aaron Alt, Vaibhav Sadhamta, Mariam Sunny, Pooja Desai Organizations: Health Inc, Cardinal Health, Thomson Locations: United States, Bengaluru

REUTERS/Mike Blake/File PhotoCompanies Grail Inc FollowIllumina Inc FollowAug 11 (Reuters) - The U.S. Securities and Exchange Commission (SEC) has begun an investigation into Illumina's (ILMN.O) $7.1 billion acquisition of cancer detection test maker Grail (GRAL.O), the gene sequencing company said in a regulatory filing. An SEC spokesperson said the agency "does not comment on the existence or nonexistence of a possible investigation". Illumina declined to comment or provide further details on the SEC investigation. The gene-sequencing machine maker had repurchased Grail in 2021, despite opposition from U.S. and European antitrust regulators, a decision that prompted investor Carl Icahn to pursue a proxy fight at Illumina, arguing Grail should be divested as it had cost investors billions of dollars. Illumina was fined 432 million euros ($476 million) by the EU last month for closing the deal before approval by European antitrust regulators.

Persons: Mike Blake, Illumina, Carl Icahn, Mariam Sunny, Shounak Dasgupta Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, EU, Thomson Locations: San Diego , California, U.S, California, Illumina, Bengaluru

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File PhotoAug 8 (Reuters) - Eli Lilly (LLY.N) on Tuesday raised its annual forecasts after beating estimates for quarterly results, driven by strong demand for its new diabetes drug Mounjaro, ahead of a decision on its use as a weight-loss treatment. The company is leaning on Mounjaro, approved last May in the U.S. for diabetes, to soften the hit from insulin price cuts and competition for cancer therapy Alimta. A decision on Mounjaro to treat obesity, expected later this year, could help the drugmaker tap a multi-billion dollar market. Lilly now expects annual revenue in range of $33.4 billion to $33.9 billion, compared with its prior range of $31.2 billion to $31.7 billion.

Persons: Eli Lilly, Mike Segar, Mounjaro, Wells, Mohit Bansal, Lilly, Bhanvi Satija, Mariam Sunny, Sriraj Organizations: Company, REUTERS, Novo Nordisk, Thomson Locations: Branchburg , New Jersey, U.S, Bengaluru

REUTERS/Andrew Kelly/File PhotoAug 7 (Reuters) - The U.S. drug regulator's approval of Biogen (BIIB.O) and Sage Therapeutics' (SAGE.O) first-of-its-kind postpartum depression (PPD) pill is unlikely to allay the drugmakers' growth concerns, analysts said on Monday. Adverse commentary after their PPD drug was approved by the U.S. Food and Drug Administration (FDA) on Friday sent Sage shares tumbling 40%, while Biogen dropped 3% in premarket trading. Zurzuvae's use as a clinical depression treatment represents a more than $1 billion sales opportunity compared with $250 million to $500 million potential for postpartum depression, said Jefferies analyst Michael Yee. "Postpartum depression is not necessarily where a big commercial opportunity is," Biogen CEO Christopher Viehbacher said last month. The U.S. FDA said last week that additional studies might be required to support the drug's approval for major depressive disorder (MDD), or clinical depression.

Persons: Andrew Kelly, Sage, Biogen, Baird, Brian Skorney, Skorney, Zurzuvae, Jefferies, Michael Yee, Christopher Viehbacher, Yee, Mariam Sunny, Bhanvi, Manas Mishra, Vinay Dwivedi Organizations: Food and Drug Administration, FDA, REUTERS, Sage Therapeutics, U.S . Food, Drug Administration, U.S, Thomson Locations: White Oak , Maryland, U.S, Bengaluru

☆ US CDC panel recommends Sanofi-AstraZeneca's preventive RSV therapy for babies
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] Sanofi logo at the company's headquarters during the annual results news conference in Paris, France, February 4, 2022. REUTERS/Benoit Tessier/File PhotoCompanies AstraZeneca PLC FollowSanofi SA FollowAug 3 (Reuters) - The U.S. Centers for Disease Control and Prevention (CDC) said its advisory panel on Thursday recommended use of Sanofi (SASY.PA) and partner AstraZeneca's (AZN.L) antibody therapy to prevent respiratory syncytial virus (RSV) in infants and toddlers. The Advisory Committee on Immunization Practices unanimously recommended nirsevimab for preventing lower respiratory tract disease in newborns and infants below eight months of age born during or entering their first RSV season. It also recommended its use in children aged 8-19 months who remain vulnerable to severe RSV disease through their second such season. The therapy, branded as Beyfortus, will be available in the U.S. ahead of the upcoming 2023-24 RSV season, Sanofi said.

Persons: Benoit Tessier, AstraZeneca's, Sanofi, Mrinmay Dey, Mariam Sunny Organizations: Sanofi, REUTERS, Companies AstraZeneca, U.S . Centers for Disease Control, Prevention, U.S . Food, Drug Administration, Thomson Locations: Paris, France, U.S, Bengaluru

☆ Medical device maker Zimmer Biomet lifts profit forecast as surgeries rebound
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - Zimmer Biomet Holdings Inc (ZBH.N) on Tuesday raised its full-year profit forecast, anticipating demand to hold up for its medical devices following a rebound in knee and hip replacement procedures. Abbott Laboratories (ABT.N) attributed its strong quarter to hospitals addressing bottlenecks from the pandemic while Johnson & Johnson (JNJ.N) said it expected to top profit estimates with surgeries bouncing back. The company now expects full-year profit of $7.47 to $7.57 per share, compared with its previous forecast of $7.40 to $7.50. The Indiana-based company's second-quarter revenue rose nearly 5% to $1.87 billion, beating analysts' estimates of $1.83 billion. Zimmer also expects reported revenue to grow between 6.5% and 7% this year, compared to its prior forecast of between 5% and 6%.

Persons: Zimmer, Johnson, Jeff Johnson, Mariam Sunny, Sriraj Organizations: Zimmer Biomet Holdings, Abbott Laboratories, Baird Equity, Thomson Locations: Indiana, Bengaluru

Companies Centene Corp FollowJuly 28 (Reuters) - Centene Corp (CNC.N) said on Friday it was working to enroll people back into government-backed Medicaid plans after the end of pandemic-relief measures left hundreds of thousands of members without coverage. Medicaid memberships, the largest contributor to Centene's revenue, were hit by the removal of pandemic-related relief measures on April 1 that rendered several members ineligible for insurance coverage. Centene lost a little more than 260,000 Medicaid members in the second quarter due to redetermination, and had around 16 million members under Medicaid as of June 30. The company on Friday, however, beat Wall Street estimates for second-quarter profit, helped by strong membership growth in its commercial marketplace business even as a fall in Medicaid memberships hurt. On an adjusted basis, the company earned $2.10 per share in the second quarter, above estimates of $2.03.

Persons: Centene, Sarah London, Julie Utterback, Mariam Sunny, Leroy Leo, Shinjini Ganguli, Shounak Organizations: Centene, Wall, Medicaid, Thomson Locations: Bengaluru

July 26 (Reuters) - The private equity owners of popular emergency contraception pill Plan B, Foundation Consumer Healthcare, have hired advisors to explore options including a potential sale of the company, a person familiar with the matter told Reuters. A sale could value the company at more than $4 billion, the source said, adding that the process is at an early stage. Foundation Consumer Healthcare also owns brands such as Breathe Right nasal strips, Dimetapp, which is a medicine for cough and cold for children and allergy drug Alavert. Foundation Consumer Healthcare or its private-equity owners Kelso & Co and Juggernaut Capital Partners did not immediately respond to a Reuters' request for comment. The report on the potential sale was first reported by Bloomberg News.

Persons: Roe, Wade, Mariam Sunny, Sriparna Roy, Abigail Summerville, Shilpi Majumdar, Arun Koyyur Organizations: Foundation Consumer Healthcare, Reuters, Kelso & Co, Juggernaut Capital Partners, Teva Pharmaceutical Industries, Consumer Healthcare, Bloomberg News, Thomson Locations: United States, Israel, Bengaluru, New York

☆ Biogen to cut 1,000 jobs to save costs as Alzheimer's drug launch gathers pace
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

Investors have pinned their hopes on Leqembi as sales of multiple sclerosis drug Tecfidera take a hit from cheaper generic rivals while spinal muscular atrophy drug Spinraza faces rival treatments by Novartis (NOVN.S) and Roche (ROG.S). "Biogen's business is in transition," said CEO Christopher Viehbacher, who was hired in November to help power up growth and put behind a series of setbacks for older Alzheimer's drug Aduhelm. Multiple sclerosis treatments Avonex and Vumerity, as well as SMA therapy Spinraza, beat analyst estimates, while Tecfidera missed expectation as it faced generic rivals. "We see no unexpected surprises in Q2 results, allowing investors to focus on Alzheimer's," said Wells Fargo analyst Mohit Bansal. Reporting by Manas Mishra and Mariam Sunny in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Roche, Christopher Viehbacher, Tecfidera, Wells, Mohit Bansal, Manas Mishra, Mariam Sunny, Sriraj Organizations: Biogen, Novartis, Thomson Locations: Massachusetts, Bengaluru

☆ Nvidia deepens bets on AI in drug discovery with Recursion investment
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

July 12 (Reuters) - Chip designer Nvidia (NVDA.O) will invest $50 million to speed up training of Recursion's (RXRX.O) artificial intelligence models for drug discovery, the companies said on Wednesday, sending the biotech firm's shares surging about 62%. Recursion, whose advisers include AI pioneer Yoshua Bengio, will use its biological and chemical datasets exceeding 23,000 terabytes to train AI models on Nvidia's cloud platform. Nvidia, seen as a big winner of the boom in artificial intelligence, could then license those models to biotech firms through BioNeMo, a generative AI cloud service for drug discovery that it rolled out earlier this year. The investment comes as Recursion strengthened its AI focus in May by snapping up two companies in the AI-driven drug discovery space for $87.5 million. The Salt Lake City, Utah-based company's current partners include Bayer (BAYGn.DE) and Roche (ROG.S).

Persons: Nvidia, Roche, Mubadala, Baillie Gifford, Chavi Mehta, Stephen Nellis, Mariam Sunny, Shilpi Majumdar, Sriraj Organizations: Nvidia, Bayer, Baillie Gifford & Co, Thomson Locations: BioNeMo, Salt Lake City , Utah, Abu, Bengaluru, San Francisco

☆ Bausch + Lomb expands eye-care portfolio with J&J's Blink
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - Bausch + Lomb (BLCO.TO) acquired Johnson & Johnson's (JNJ.N) eye and contact lens drops brand Blink for $106.5 million, marking its second deal in two weeks to bolster the contact lens maker's portfolio of eye care products. J&J's Blink portfolio of over-the-counter drugs include several eye drops and contact lens rewetting drops that are used to relieve dry eye symptoms, Bausch + Lomb said on Thursday. Last week, Bausch + Lomb struck a $1.75 billion deal with Swiss drugmaker Novartis (NOVN.S) to buy several eye-care products, including anti-inflammation eye drop Xiidra. The company is in the process of being spun out from Bausch Health Companies (BHC.TO). The global dry eye disease market is expected to be worth around $5 billion, according to Morningstar analyst Keonhee Kim.

Persons: Johnson, Bausch, Lomb, Keonhee Kim, Mariam Sunny, Savio D'Souza, Shinjini Organizations: Swiss, Novartis, Bausch Health, U.S . Food, Drug Administration, Thomson Locations: U.S, United States, Bengaluru

☆ Eli Lilly to buy Sigilon Therapeutics to expand diabetes treatments
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

A major provider of diabetes drugs and insulin, Lilly owned nearly 8.44% stake in Sigilon as of March 27. It would pay $14.92 per share, or $34.6 million in upfront cash, for the rest of the company. Sigilon shareholders will get an additional $111.64 per share if they achieve certain developmental and regulatory milestones, Lilly said. The deal, which is expected to close in the third quarter of 2023, would give Lilly access to Sigilon's proprietary cell therapy candidate being developed to treat type 1 diabetes. The two companies have been partners since 2018, when Lilly paid Sigilon $63 million for a licensing deal to develop cell therapes targeting type 1 diabetes and made an undisclosed equity investment.

Persons: Eli Lilly, Lilly, Sigilon, Mariam Sunny, Shilpi Majumdar Organizations: Sigilon Therapeutics, Thomson Locations: Sigilon, Bengaluru

June 27 (Reuters) - Walgreens Boots Alliance (WBA.O) on Tuesday warned that lower spending by inflation-spooked consumers and a hit from a larger-than-expected drop in COVID product sales would likely persist into next year, sending its shares plunging nearly 9%. Walgreens' shares were at $28.87 in early trading, hitting an over 11-year low after the company slashed its profit forecast for the year. The pharmacy chain also said its newly launched healthcare business, through which it operates doctors' offices, missed Walgreens' target for sales growth. "There are some factors impacting us today that are likely to extend into next year, namely the macroeconomic-driven consumer pressure and COVID headwinds." In the third quarter of the fiscal year, Walgreens reported a 0.2% fall in same-store sales at its retail division, compared with estimates of a 2.1% rise.

Persons: Rosalind Brewer, Brewer, Manas Mishra, Mariam Sunny, Pooja Desai Organizations: Walgreens Boots Alliance, Walgreens, CVS Health, Rite, Thomson Locations: Bengaluru

June 27 (Reuters) - Walgreens Boots Alliance (WBA.O) slashed its profit forecast for the year as persistently high inflation hits sales of consumer healthcare goods and demand for COVID shots and tests wanes, sending its shares plunging 8% on Tuesday. "Our revised guidance takes an appropriately cautious forward view in light of consumer spending uncertainty," CEO Rosalind Brewer said in a statement. Walgreens' shares were trading at $29.21, on track to open at their lowest levels since 2012, if losses held. In the third quarter of the fiscal year, Walgreens reported a 0.2% fall in same-store sales at its retail division, compared with estimates of a 2.1% rise, according to brokerage TD Cowen. Walgreens said its forecast cut reflected "challenging consumer and macroeconomic conditions, and lower COVID-19 vaccine and testing volumes".

Persons: Rosalind Brewer, TD, Walgreens, Manas Mishra, Mariam Sunny, Pooja Desai Organizations: Walgreens Boots Alliance, CVS Health, Walgreens, TD Cowen, Thomson Locations: Bengaluru

☆ Aldeyra Therapeutics eye treatment meets late-stage study main goal
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: 1 min

Companies Aldeyra Therapeutics Inc FollowJune 15 (Reuters) - Aldeyra Therapeutics (ALDX.O) said on Thursday its treatment for an inflammatory eye disease met the main goal of reducing itching in a late-stage study, sending its shares up 16% in premarket trading. The liquid eye drop formulation, reproxalap, is being developed to treat allergic conjunctivitis that leads to swelling in a tissue lining the eyelids and white layer of the eye. The treatment also helped reduce redness and tearing caused due to the disease when compared with placebo, the company said. Reporting by Mariam Sunny in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Mariam Sunny, Vinay Dwivedi Organizations: Aldeyra Therapeutics, Thomson Locations: Bengaluru

☆ Cancer drugmakers rise as industry meet fuels investor interest
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

June 5 (Reuters) - Shares of several cancer drug firms surged on Monday after the companies reported positive clinical trial data from their therapies at an ongoing industry conference in Chicago. ImmunoGen Inc's experimental drug, Elahere, to treat a type of ovarian cancer showed 35% reduction in the risk of tumor progression or death compared to chemotherapy in a late-stage study. Shares of Evaxion rose 5.4% to $1.55 after the smaller drug developer said its vaccine to prevent a type of skin cancer met safety goals in an early-stage study. Shares of Blueprint Medicines Corp (BPMC.O) fell 9.4% to $52.76 after analysts flagged potential safety issues about its experimental drug to treat a type of lung cancer. Reporting by Manas Mishra and Mariam Sunny in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: William Blair, Manas Mishra, Mariam Sunny, Shailesh Organizations: Immunogen Inc, Evaxion, Therapeutics, American Society of Clinical Oncology, Arcus, Medicines Corp, Thomson Locations: Chicago, Bengaluru

Companies Indivior PLC FollowJune 2 (Reuters) - Indivior Plc (INDV.L) said on Friday it agreed to pay $102.5 million to settle a lawsuit by dozens of U.S. states accusing it of illegally suppressing generic competition for its opioid addiction treatment Suboxone. Suboxone was approved for U.S. sale in 2002, and Indivior had the exclusive right to sell the treatment in tablet form until 2009. States said Indivior switched to an oral film version of Suboxone from a tablet version to extend its monopoly, just as generic manufacturers were poised to sell their own lower-cost tablets. Generic tablets obtained federal approval in 2013. Indivior expects to pay the $102.5 million in cash this month.

Persons: drugmaker, Indivior, Suboxone, Josh Kaul, Mariam Sunny, Jonathan Stempel, Maju Samuel, Matthew Lewis Organizations: Indivior, D.C, U.S, U.S . Centers for Disease Control, Thomson Locations: Chesterfield , Virginia, U.S, Washington, Indivior's, Philadelphia, Suboxone, Wisconsin, United States, Bengaluru, New York

☆ Grail says about 400 patients incorrectly informed they may have cancer
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

Companies Grail Inc FollowIllumina Inc FollowJune 2 (Reuters) - Cancer test maker Grail Inc (GRAL.O) said on Friday that its telemedicine vendor erroneously sent letters to about 400 patients suggesting they may have developed cancer. Grail's flagship cancer detection blood test Galleri is designed to detect more than 50 types of cancer before symptoms appear. Grail said it had reached out to the patients immediately after the issue, adding that no patient health information has been disclosed or breached due to this. The software issue being faced by PWNHealth has now been resolved, it said. Illumina is currently appealing regulatory orders in the U.S. and EU, which are asking the gene sequencing company to divest Grail after it jumped regulators to close its acquisition of the cancer test maker.

Persons: Grail, PWNHealth, Illumina, Mariam Sunny, Shilpi Majumdar Organizations: Illumina Inc, Thomson Locations: U.S, Bengaluru

☆ Dell's first-quarter results fall less than feared on cost cuts
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

The stock was halted after the company announced results during regular trading hours, earlier than its schedule for an after-market release. "We maintained pricing discipline, reduced operating expenses, and our supply chain continued to perform well after normalizing ahead of competitors," said Chuck Whitten, co-chief operating officer of Dell. Total operating expenses reduced 6% to $3.57 billion during the quarter. First-quarter revenue fell 20% to $20.92 billion, compared with analysts' expectations of $20.27 billion, according to Refinitiv data. Dell's client solutions unit - home to its consumer and enterprise PC business - posted a 23% fall in sales, while the infrastructure solutions unit, which includes servers, storage devices and networking hardware, saw an 18% decline.

Persons: Chuck Whitten, Dell, Tiyashi Datta, Mariam Sunny, Pratyush Thakur, Devika Organizations: Dell Technologies Inc, HP Inc, Lenovo Group, HK, Dell, Thomson Locations: Bengaluru

☆ FDA warns about safety risks of tailored weight-loss drugs
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Lucas Jackson/File PhotoJune 1 (Reuters) - The U.S. Food and Drug Administration (FDA) warned about the safety risks of using compounded or custom-made versions of popular weight-loss drugs such as Wegovy and diabetes drug Ozempic. The FDA warned patients to refrain from using a compounded drug if an approved drug is available. Compounded drugs are created by combining, mixing, or altering ingredients to create a medication tailored to the needs of an individual patient. The agency said it does not review compounded versions of these drugs for safety, effectiveness, or quality, adding, it had received reports that compounders might be using salt forms of semaglutide, which are different active ingredients than those used in the approved drugs. The U.S. is expected to account for as much as 90% of weight-loss drug sales due to the number of potential patients and higher pricing than other countries, industry analysts and executives say.

Persons: Lucas Jackson, Novo, Mariam Sunny, Rashmi Organizations: REUTERS, U.S . Food, Drug Administration, Thomson Locations: New York, U.S, Bengaluru

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