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Eli Lilly, along with Sanofi (SASY.PA) and Novo Nordisk (NOVOb.CO) make up 90% of the U.S. market for insulin. Biden, a Democrat, on Tuesday called on Congress and other manufacturers to lower the price of insulin as Lilly had done. The list price for Lispro, a cheaper version of its Humalog insulin, is currently $82.41 for 100 units/mL vials. List prices for drugs often differ from what patients actually pay, including after insurance and other assistance programs. Ricks said the company's insulin price cuts had been planned for some time and were accounted for in Eli Lilly's December financial forecast, which projected 2023 revenue of at least $30.3 billion.

☆ Lilly to cut U.S. insulin prices by 70% from fourth quarter
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

March 1 (Reuters) - Eli Lilly and Co (LLY.N) will cut list prices by 70% for its most commonly prescribed forms of insulin, Humalog and Humulin, beginning from the fourth quarter of this year, the drugmaker said on Wednesday. Around 8.4 million of the 37 million people in the United States with diabetes use insulin, according to the American Diabetes Association. Eli Lilly, along with Sanofi (SASY.PA) and Novo Nordisk (NOVOb.CO) make up 90% of the U.S. market for insulin. Drugmakers had previously priced insulin at more than $275 a vial, representing a 1,200% increase in price over the past 20 years, according to the advocacy group Insulin Initiative. Reporting by Bhanvi Satija in Bengaluru; Additional reporting by Susan Heavey, Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Insulin cuts make drug prices a little less bazaar
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

If drug companies don’t play along, insurance companies will go elsewhere. The list price of Sanofi’s (SASY.PA) insulins rose 143% between 2012 and 2021, but the net price fell 54%. Amgen (AMGN.O) offered an autoimmune disease drug earlier this year with two prices. American politicians have been pressuring drug companies to lower prices, and President Joe Biden welcomed the move. In theory, lower list prices mean everyone pays less out of pocket at the pharmacy.

REUTERS/Brendan McDermid/IllustrationFeb 16 (Reuters) - GSK Plc (GSK.L) is expected to urge a California judge on Thursday to limit what expert testimony jurors can hear in the first trial over claims that the company's heartburn drug Zantac caused cancer. The trial, scheduled to begin Feb. 27 before Alameda County Superior Court Judge Evelio Grillo, will offer the first test of how Zantac cancer claims may fare in state courts. The plaintiff in the upcoming trial, James Goetz, says he developed bladder cancer from taking Zantac sold by British drugmaker GSK. Lawsuits began piling up soon after the recalls began from people who said they developed cancer after taking Zantac. Cases have been filed linking Zantac to at least 10 types of cancer.

☆ Biogen CEO bets on Alzheimer's drug, pipeline to return to growth
▼ + stars: | 2023-02-15 | by ( Manas Mishra | ) www.reuters.com time to read: +2 min

Feb 15 (Reuters) - Biogen Inc (BIIB.O) Chief Executive Officer Christopher Viehbacher said on Wednesday he is banking on high-profile launches of Alzheimer's disease treatment Leqembi and depression drug zuranolone, as well as deals, to help the company return to revenue growth. A controversial approval and problematic launch of previous Alzheimer's disease drug Aduhelm, which like Leqembi was developed with Eisai Co Ltd (4523.T), have further dented investor sentiment. Biogen is also hoping to gain U.S. approval of depression treatment zuranolone this year. Biogen forecast full-year adjusted profit of $15 to $16 per share, compared with analysts' estimates of $15.72 per share. The company reported a fourth-quarter adjusted profit of $4.05 per share, beating estimates compiled by Refinitiv IBES by 57 cents.

☆ Biogen sees modest 2023 revenue from Alzheimer's disease drug
▼ + stars: | 2023-02-15 | by ( Manas Mishra | ) www.reuters.com time to read: +2 min

Feb 15 (Reuters) - Biogen Inc (BIIB.O) said on Wednesday that Alzheimer's disease drug Leqembi would bring in modest revenue for the year although it might not be enough to offset costs tied to its launch. Biogen has a 50% share of U.S. profits on Leqembi, which it developed with lead partner Eisai Co Ltd (4523.T). "Over the last couple of years, the company has lost its way somewhat and now it is in a declining revenue," Viehbacher said. Biogen expects full-year adjusted profit of $15 to $16 per share, compared with analysts' estimates of $15.72 per share. The company reported a Q4 adjusted profit of $4.05 per share, above Refinitiv IBES estimates of $3.48 per share.

☆ Bank of America reveals the most undervalued stocks on Wall Street, including this motorcycle giant
▼ + stars: | 2023-02-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

CNBC Pro combed through top Bank of America research to find the most undervalued stocks on Wall Street. The firm says its base case is that the already "undervalued" stock can re-rate from current levels. In addition, Harley's management team is executing well with electric vehicle motorcycles on the horizon and burgeoning international growth opportunities. The says it sees "asymmetrical upside potential" meaning that when peers in the sector go up, KKR shares could go even higher. Remain Buy for undervalued growth and pipeline with two launches worth 5bn euros peak in 23E.

Around 8.4 million of the 37 million people in the United States with diabetes use insulin, according to the American Diabetes Association (ADA). They tried, and failed, to extend the benefit to everyone with health insurance when they were voting on the IRA. Without Congressional approval, the Biden administration cannot impose the cap on private insurance plans and is unlikely able to create a subsidy for the uninsured, experts said. Some Medicaid plans for low-income individuals and private insurance plans also cap the monthly cost of insulin at $35. It is unclear if his proposal would include those without health insurance, who often have to pay the full price for the life-sustaining drug.

☆ India’s Vodafone rescue has strings attached
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Feb 6 (Reuters Breakingviews) - New Delhi has finally come good on its promise to convert Vodafone Idea’s (VODA.NS) dues worth $2 billion into an equity stake. The state’s move, which dialed up a 10% gain in Vodafone Idea’s stock, could ease the company’s pressures elsewhere. A recently extended repayment schedule for $194 million of cash owed to American Tower (AMT.N) should bolster its chances, too. India’s Telecommunications Minister Ashwini Vaishnaw said on Friday that concomitant with the swap is a “firm commitment” of fresh capital from the Aditya Birla group, Vodafone Idea’s second-largest shareholder. For a group that has often expressed a wish to exit the telecom business, the bailout must feel like a Pyrrhic victory.

☆ Renault’s Nissan upshot is mostly good news
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Feb 6 (Reuters Breakingviews) - The French automaker and its partner, Nissan (7201.T), confirmed on Monday that the Japanese giant will be buying up to 15% of Renault’s (RENA.PA) electric-car spinoff, Ampere. It however suggests that they will be waiting a long time to benefit from Renault’s planned sale of the 28.4% Nissan stake it will park in a non-voting trust. The sale was necessary to reduce Renault’s voting rights in its partner to 15%, on a par with the Japanese company’s interest in its own equity. Given that the deal also stipulates there will be no fixed timeline for the transaction, it could be a while coming. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Real and fake meat share problems
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

TORONTO, Feb 6 (Reuters Breakingviews) - Pain in the fake meat market is starting to spread to the real one. That’s still much better than Beyond Meat (BYND.O), which isn’t even booking an operating profit at this point. But the two companies share a few of the same problems that aren’t going away. With prices along the supply chain going up, including for transportation, consumers are making other choices. Forgoing meat – no matter the consistency – is a real problem.

☆ Rapid hiring has bad and worse consequences
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Feb 3 (Reuters Breakingviews) - Exceptionally fast U.S. hiring has worrying consequences. With unemployment dipping to a 54-year low last month, the U.S. Federal Reserve will probably keep hiking interest rates well into 2023. The U.S. economy added 517,000 jobs in January, the Bureau of Labor Statistics said Friday. The sum nearly doubled the previous month’s gain and showed the economy on much stronger footing than anticipated. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Data could help save crypto’s image
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Feb 3 (Reuters Breakingviews) - Cryptocurrency could use a reputational boost right now. So it’s problematic that those who could help legitimize the business aren’t going gangbusters. But a string of bankruptcies in the business has clients cutting back on spending – and some disappearing completely. While Chainalysis, backed by GIC, says it plans to grow overall headcount in 2023, the cuts are the wrong sign for those who use its services. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Sanofi’s ailments are more than skin deep
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 3 (Reuters Breakingviews) - Sanofi (SASY.PA) is battling multiple ailments. The $115 billion French pharma group on Friday forecast “low single digit” growth in earnings per share for 2023, disappointing analysts. Hence it’s more reliant on the star asthma and eczema drug Dupixent, which contributed nearly a fifth of Sanofi’s 43 billion euros of sales in 2022. Last August, $36 billion was wiped off Sanofi, GSK (GSK.L) and spinoff Haleon (HLN.L) shares on U.S. litigation fears. It currently trades on 10 times its forecast 2023 earnings, while Novartis (NOVN.S) trades on 13 times.

☆ Sanofi forecasts moderate profit growth on Dupixent demand
▼ + stars: | 2023-02-03 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

Feb 3 (Reuters) - Sanofi (SASY.PA) on Friday forecast moderate earnings growth this year, saying higher demand for bestselling asthma and eczema drug Dupixent would be partly offset by competition for its multiple sclerosis pill Aubagio and product launch costs. Aubagio, with 2 billion euros in sales last year, will face competition from cheaper products over the next few months after losing patent protection, Sanofi said. The company reaffirmed its target to achieve sales of Dupixent, jointly developed with Regeneron (REGN.O), of 10 billion euros this year, up more than 20% from 8.29 billion euros in 2022. Sanofi reported a 20.7% rise in fourth-quarter business operating income, or adjusted earnings before interest and tax, to 2.72 billion euros ($2.96 billion), edging past an average analyst estimate of 2.69 billion euros posted on the company's website. Revenue from Dupixent surged 42% to 2.4 billion euros during the quarter ended Dec. 31, slightly above a consensus of 2.37 billion euros.

☆ Morning Bid: Mind the gap
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +3 min

The IMF cited "surprisingly resilient" demand in the United States and Europe, easing of energy costs and the reopening of China's economy. Still, it would be wise for investors to be mindful of a gap between expectations and reality. Flash GDP numbers are due from the euro zone, along with growth data for France and Italy. The Bank of England is set to raise rates by 50 bps to 4.0%, respectively. Money market bets show that the U.S. Federal Reserve is set to raise its policy rate by 25 basis points to 4.50%-4.75% on Wednesday.

☆ U.S. Appeals Court Sides With Drugmakers on Discount Program
▼ + stars: | 2023-01-30 | by ( Anna Wilde Mathews | Joseph Walker | ) www.wsj.com time to read: 1 min

The ruling by a three-judge panel of the Philadelphia-based Third Circuit Court of Appeals can be appealed. A U.S. appeals court ruled that pharmaceutical companies can limit their shipments of federally-discounted drugs to pharmacies, in a major win for the drugmakers and a blow to hospitals and clinics that receive the low-priced medicines. The ruling on Monday, by a three-judge panel of the Philadelphia-based Third Circuit Court of Appeals, was in favor of drugmakers Sanofi SA, AstraZeneca PLC and Novo Nordisk A/S, and against the Health Resources and Services Administration, or HRSA, which oversees the federal drug-discount program known as 340B.

Jan 30 (Reuters) - Drug manufacturers can limit healthcare providers' use of outside pharmacies for dispensing drugs under a federal drug discount program, a federal appeals court ruled Monday. The case centers on the federal 340B program, in which drugmakers provide discounts to eligible healthcare providers that serve low-income populations. Drugmakers are required to participate in the 340B program in order to receive funds from government health insurance programs like Medicare and Medicaid. Sanofi, Novo Nordisk and AstraZeneca all continued to allow 340B providers without in-house pharmacies to use a single contract pharmacy. HHS ordered them to stop, saying the new policies were not allowed under the 340B program.

☆ Exclusive: Sanofi to let go of staff at vaccine plants in India as part of review
▼ + stars: | 2023-01-30 | by ( Leroy Leo | ) www.reuters.com time to read: +3 min

[1/2] Sanofi logo at the company's headquarters during the annual results news conference in Paris, France, February 4, 2022. The drugmaker is offering voluntary retirement scheme (VRS) to all its employees at two sites near Hyderabad, a spokesperson for Sanofi's India unit told Reuters in an email. Sanofi India declined to comment on the number of employees who would be offered VRS. The French company has over 5,000 employees in India, according to its website. Sanofi owns the facilities through Sanofi Healthcare India Pvt Ltd, which was renamed from the erstwhile Shantha Biotechnics.

☆ Jobs report to give clues about where economy is headed
▼ + stars: | 2023-01-29 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

Investors will get another clue when the January jobs report is released on Friday. Economists predict that 185,000 jobs were added last month, a slowdown from the gain of 223,000 jobs in December and 263,000 in November. A further deceleration in the labor market would likely please the Fed, as it would show that last year’s rate hikes are successfully taking some air out of the economy. Along those lines, average hourly earnings, a measure of wages that is also part of the monthly jobs report, are expected to increase 4.3% year-over year. So far, tech earnings season is not off to an inspiring start, with Microsoft (MSFT), Intel (INTC) and IBM (IBM) all reporting weak results.

☆ Here comes the biggest week of earnings. Plus an AI ode to the Dow
▼ + stars: | 2023-01-28 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. The Dow and the S & P 500 gained 2.2% and 2.9% this week, respectively, while the Nasdaq Composite rose 4.7%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Stocks may face an inflection point in the week ahead as the Fed meets and Apple posts earnings
▼ + stars: | 2023-01-27 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

The Fed's meeting Tuesday and Wednesday comes amid a flood of corporate earnings reports, with about 20% of the S & P 500 reporting that week. The most important day for earnings is Thursday, when Apple , Alphabet and Amazon report after the bell. The Nasdaq Composite was up 11% for the month as of Friday afternoon, well ahead of the 6.2% gain in the S & P 500. Traders have been watching the S & P 500 edge closer to the key threshold of 4,100 , its high from December. AAPL 1Y line apple Apple is also important because of the signals it can send about the strength of the consumer, supply chains and China's reopening.

☆ Sanofi CEO: Real breakthrough in RSV treatment is 'right around the corner'
▼ + stars: | 2023-01-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSanofi CEO: Real breakthrough in RSV treatment is 'right around the corner'Paul Hudson, Sanofi CEO, joins 'Squawk Box' to discuss the company's product pipeline, Hudson's take on the trust the public have for vaccines and more.

☆ 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.

The lawsuit, filed in California Superior Court in Los Angeles, targets Eli Lilly and Co , Novo Nordisk A/S (NOVOb.CO) and Sanofi SA (SASY.PA), which together make more than 90% of the insulin drugs sold globally. Insulin drugs are used to control blood sugar in patients with diabetes. Eli Lilly and Sanofi both previously announced that they would cap the cost of a 30-day supply of insulin at $35 for uninsured patients. California said that the companies' dominance in the market has allowed them to hike insulin prices at patients' expense, violating the state's Unfair Competition Law. Prices of top-selling insulin drugs have soared in recent years.

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