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☆ Novo Nordisk's Wegovy weight loss drug wins UK approval for use as a heart treatment
▼ + stars: | 2024-07-23 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

LONDON — The U.K.'s health regulator on Tuesday approved the use of Novo Nordisk 's Wegovy weight loss drug to reduce the risk of overweight and obese adults suffering from serious heart problems or strokes. The new approval from the U.K.'s Medicines and Healthcare products Regulatory Agency (MHRA) makes the Danish pharmaceutical giant's GLP-1 obesity drug the first in the country to be prescribed for prevention of cardiovascular events in people with obesity. It follows similar label expansion by the U.S. Food and Drug Administration in March. Shares of Novo Nordisk were up after the announcement, trading 1.46% higher by 4:10 p.m. London time after pushing higher for much of the session. The MHRA's deputy director of innovative medicines, Shirley Hopper, said the decision marked an "important step forward" in combatting the effects of obesity.

Persons: Shirley Hopper Organizations: Novo Nordisk, Medicines, Healthcare, Agency, U.S . Food, Drug Administration Locations: London

☆ Here are Friday's biggest analyst calls: Tesla, Boeing, Amazon, Delta, Spotify, Alibaba, Johnson & Johnson and more
▼ + stars: | 2023-12-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are the biggest calls on Wall Street on Friday: Stifel initiates Boeing at buy Stifel said it sees a "favorable" setup for Boeing shares. Citi downgrades Spotify to neutral from buy Citi said in its downgrade of Spotify that the risk/reward is less compelling. Jefferies initiates Arcos Dorados as a buy Jefferies said the Latin American McDonald's franchisee is a "consistent compounder." Jefferies initiates CSG Systems as buy Jefferies said in its initiation of the software-as-a-service company that it sees burgeoning growth. Jefferies initiates Amdocs as buy Jefferies said it sees opportunity for the Israel-based software and systems integration supplier. "

Persons: Stifel, TD Cowen, Morgan Stanley downgrades Alibaba, Morgan Stanley, it's, Alibaba, Tesla, Cantor Fitzgerald, Cantor, Jefferies, Piper Sandler, TXRH, Wells, Wells Fargo, Emerson, Oppenheimer, Goldman Sachs, Bonnie Herzog's, MarketWise, Redburn, Johnson Organizations: Boeing, Delta, Air Lines, Citi, Spotify, RBC, Western Alliance, Novo Nordisk, Arcos, American, Crescent Energy, Fortrea Holdings, ISI, Aspen Technology, Emerson, JPMorgan, Constellation Brands, Constellation, UBS, Bank of America, Norfolk Southern, of America, Norfolk, CSG Systems, Communication Service, Financial Services, Technology, Healthcare, Westinghouse, Johnson, Innovative Medicine, Pharmaceutical Locations: Europe, China, Arcos, 4Q24, reaccelerate, Aspen, Norfolk, Israel

The logo of Johnson & Johnson is seen on a Brussels' office of the company in Diegem, Belgium September 21, 2023. Investors are focused on how J&J, now a standalone pharmaceutical and medical devices company, will reach its goal of $57 billion in drug sales by 2025. Johnson & Johnson recorded a $21-billion gain in the third quarter from the spin-off of its consumer health unit. Stelara, J&J's top-selling anti-inflammatory drug, brought in sales of $2.86 billion in the quarter, above LSEG estimates of $2.61 billion. Excluding its consumer health unit, J&J now expects 2023 adjusted profit of $10.07 to $10.13 per share, compared with its previous outlook of $10.00 to $10.10 per share.

Persons: Johnson, Yves Herman, MedTech, Cantor Fitzgerald, Louise Chen, Stelara, Joseph Wolk, Wolk, J, Bhanvi Satija, Sriparna Roy, Patrick Wingrove, Shounak Dasgupta Organizations: Johnson, REUTERS, Innovative Medicine, Reuters, Thomson, & $, & $ Locations: Brussels, Diegem, Belgium, Stelara, U.S, United States, Bengaluru, New York

☆ Novartis CEO: Spinoffs will see us succeed as a pure-play innovative medicines company
▼ + stars: | 2023-10-04 | 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 EmailNovartis CEO: Spinoffs will see us succeed as a pure-play innovative medicines companyNovartis CEO Vas Narasimhan discusses what the spinoff of the company's Sandoz unit means for the organization.

Persons: Vas, Sandoz Organizations: Novartis

☆ Novartis unit Sandoz starts trading at 24 Swiss francs after completing spinoff
▼ + stars: | 2023-10-04 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Novartis said in August that it plans to spin off its generics unit Sandoz to sharpen its focus on its patented prescription medicines. Novartis on Wednesday completed the spinoff of its generics and biosimilars business Sandoz, whose shares began trading at 24 Swiss francs in the early minutes of the company's debut on the SIX Swiss Exchange. The Swiss drugmaker initially announced intentions to spin off the business in August, offering stakeholders one Sandoz share for every five Novartis shares via a dividend-in-kind distribution. Pure play companies refer to entities that target a single product or industry sector. Novartis shares climbed more than 3% in early trade in Zurich to lead the pan-European Stoxx 600 index .

Persons: Sandoz, Narasimhan, we've, CNBC's Julianna Tatelbaum Organizations: Novartis, Wednesday, SIX Swiss Exchange, CNBC Locations: Swiss, Zurich

☆ Novartis CEO: Company set to become a pure play, innovative medicine business after Sandoz spin off
▼ + stars: | 2023-10-03 | 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 EmailNovartis CEO: Company set to become a pure play, innovative medicine business after Sandoz spin offVas Narasimhan, CEO at Novartis, discusses the company's 100% spin off of Sandoz, its generic and biosimilar medicines business, and what the deal means for shareholders.

Organizations: Novartis, Sandoz Locations: Sandoz

Johnson & Johnson is signing off on a new logo. Johnson & Johnson itself narrowed its focus to pharmaceuticals and medical devices. The signature logo was “one of the longest-used company emblems in the world,” J&J declared in a 2017 website post. “Everyone washed their baby with Johnson & Johnson baby shampoo,” she said. New Brunswick, New Jersey-based J&J also will rename its Janssen pharmaceutical segment, changing it to Johnson & Johnson Innovative Medicine.

Persons: Johnson, James Wood, ”, Vanessa Broadhurst, ” J, J, Laura Ries, Ries, wasn't Organizations: Janssen, Johnson Innovative Medicine, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: New Brunswick , New Jersey

☆ Novartis stock jumps after drugmaker raises full-year guidance, launches $15 billion buyback
▼ + stars: | 2023-07-18 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Novartis shares jumped on Tuesday after the Swiss drugmaker raised its full-year guidance on strong drug sales and announced a $15 billion share buyback. Novartis expects sales to rise by a high-single-digit percentage in 2023, an increase from a previous expectation of mid-single-digit growth. Novartis reported total revenue of $13.62 billion for the quarter, up around 7% from $12.78 billion the same period a year ago. The company's innovative medicines business, which develops patented medicines, raked in sales of $11.24 billion for the quarter. The company's generic medicines division, Sandoz, posted sales of $2.38 billion, up 5% from a year ago.

Persons: Sandoz, Roche Organizations: Novartis, Refinitiv, Sandoz Locations: Swiss, U.S

☆ TipRanks reveals the top 10 health care sector analysts of the past decade
▼ + stars: | 2023-05-21 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

TipRanks leveraged its Experts Center tool to recognize the ones with a high success rate. We also analyzed each stock recommendation made by health care sector analysts in the past decade. TipRanks' algorithms calculated the statistical significance of each rating, average return and the analysts' overall success rate. The buy recommendation generated a return of 397.9% from May 12, 2020 to May 12, 2021. Boris Peaker - TD CowenBoris Peaker has the 10th spot on the list, with a success rate of 47%.

☆ The EU outlined its plan to equalize drug access and lower prices. Pharma firms are not happy
▼ + stars: | 2023-04-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

A molecular biologist examines wastewater samples for pathogens in the safety laboratory at the Max Delbrück Center for Molecular Medicine in Mitte. One of the EU's key aims is to deliver more timely and equitable patient access to medicines across the 27-nation bloc. The group also found 92% of "innovative medicines" were available in Germany, compared with 30% in smaller and Eastern European EU member states. Companies can extend it up to 10 years if they launch the drug in all 27 EU member states within two years. However, pharmaceutical firms and lobby groups say the move could hamper innovation and the overall availability of drugs.

☆ Novartis' CEO is charging ahead in cutting tens of thousands of workers to transform the $220 billion pharma giant
▼ + stars: | 2023-01-16 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +3 min

Novartis is laying off thousands of workers, CEO Vasant Narasimhan told Insider. Through layoffs and spinoffs, the Swiss giant expects to trim its headcount by about 30% by 2024. SAN FRANCISCO — Thousands of layoffs are "happening now," Vasant Narasimhan, the CEO of Novartis, told Insider, as he hopes the $220 billion Swiss giant is entering the final steps of becoming a smaller, more-focused drug company. The Swiss giant had about 125,000 full-time employees at the time, and it has about 108,000 workers today. The restructuring will save Novartis about $1.5 billion annually, Narasimhan said during his Monday presentation at the JPMorgan conference.

☆ Novartis generated $40 billion in innovative medicine sales, says CEO
▼ + stars: | 2023-01-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNovartis generated $40 billion in innovative medicine sales, says CEOCNBC's Meg Tirrell sits down with Dr. Vas Narasimhan, CEO of Novartis International on drug development and future of the company.

☆ Goldman says these 'attractive stocks' still have more room to run
▼ + stars: | 2022-11-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Graphic Packaging Holding "Unique defensive growth at a discount," Goldman said recently of the commercial packaging materials company. Shares of Graphic Packaging are up almost 17% this year, and analyst Adam Samuelson said the stock remains attractive and compelling. Samuelson said Graphic Packaging is underappreciated by investors in that it's differentiated itself from competitors with its strong mix of cash flow and compounding earnings. Graphic Packaging is also a beneficiary of what Samuelson calls a "$12.5 billion market opportunity" as businesses and consumers shift from plastic to paper. Cintas "Healthy F1Q results, with attractive and resilient growth outlook for uniform rentals driven by pricing and no-programmer market.

☆ New U.S. cancer drug prices rise 53% in five years -report
▼ + stars: | 2022-11-02 | by ( Deena Beasley | ) www.reuters.com time to read: +4 min

"I do think there is a possibility we see launch prices go up," she said. Reuters GraphicsPorter, who championed inflation-based caps on drug prices, is calling for additional national legislation to link launch prices to how well a drug works. The report found that the average launch price of a self-administered cancer drug, after adjusting for inflation, rose by nearly 26% to $238,000 between 2017 and 2021. By 2022, six out of the eight newly-launched oral cancer drugs had prices over $200,000 per year. Based on current trends, the report calculated that by 2026, when Medicare will first be able to negotiate drug prices, the average self-administered cancer drug launch price will be nearly $325,000 per year and over $525,000 for pills and biologics.

☆ European Commission suspects pharma group Teva broke antitrust rules
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +1 min

PARIS, Oct 10 (Reuters) - The European Commission has informed Teva Pharmaceutical (TEVA.TA) of its preliminary view that the company breached European Union (EU) antitrust rules with practices aimed at delaying competition to multiple sclerosis product Copaxone. "There is not yet a treatment for the chronic illness of multiple sclerosis, so innovative medicines can make a major difference to patients' quality of life," the Commission's competition policy head Margrethe Vestager said on Monday. Our concern is that Teva may have misused the patent system to shield itself from competition." If the European Commission's preliminary views are confirmed, Teva's behaviour would infringe Article 102 of the Treaty on the Functioning of the European Union, which prohibits the abuse of a dominant position. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sudip Kar-Gupta Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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