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☆ New Covid vaccines are coming to the U.S. this fall, but uptake may be low — Here’s why
▼ + stars: | 2023-07-29 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +7 min

Regardless of that shift, experts say vaccine uptake may not look much different from that of the bivalent boosters. Pandemic fatigue, confusionFatigue over the pandemic and the general belief that Covid is "over" could potentially hinder the uptake of new shots this fall, experts said. Ipsos and Axios released a survey with similar findings in May, the same month the U.S. ended the national Covid public health emergency amid a downward trend in cases, hospitalizations and deaths. "That contrasts with what we've seen in the past where there are different vaccines, different timing, different age groups and something new to consider every few months." Advisors to the FDA have raised concerns about shifting to yearly Covid vaccines, noting that it's unclear if the virus is seasonal like the flu.

Persons: Antonio Perez, Axios, isn't, Dr, Kartik Cherabuddi, Brad Pollock, Pollock, they're, Ashley McGee, Justin Sullivan, CDC hasn't, Covid, KFF's Kates, Michael Nagle, Kates, we've Organizations: Chicago CVS, Tribune, Service, Getty Images Pfizer, Moderna, Pfizer, Gallup, University of Florida, CNBC, UC Davis Health's, Safeway, CDC, Food and Drug Administration, Health, Human Services Department, FDA, Xinhua News Agency, Getty Locations: Chicago, U.S, San Rafael , California, New York, United States

☆ July jobs report and more Big Tech earnings are in the week ahead after markets notch historic run for Dow
▼ + stars: | 2023-07-28 | by ( Sarah Min | ) www.cnbc.com time to read: +9 min

More Big Tech earnings and the jobs report are in the week ahead as investors wrap up a strong week that included a historic run for the Dow Jones Industrial Average . Jobs report out Friday Investors will digest the latest data from the July jobs report due out next Friday. "I don't expect any huge surprise from this jobs report next week," said Liz Young, head of investment strategy at SoFi. Earnings will continue to pour in next week, with key results from Big Tech companies Apple and Amazon on Thursday. Still, cooling inflation, strong jobs market and a resilient economy could spell a happy path for Wall Street.

Persons: Dow, Queen Victoria, Kim Forrest, Jerome Powell, Forrest, Nonfarm, Dow Jones, Liz Young, Bokeh's Forrest, they're, She'd, we've, SoFi's Young, Young, she'd, Stanley Black, Decker, The Kraft Heinz Organizations: Big Tech, Dow Jones, Dow, Cotton Oil, Bokeh Capital Partners, Meta, Federal Reserve, Pew Research, Apple, Semiconductor, Bank of Japan, Chicago PMI SA, Dallas Fed, Arista Networks, Western, Systems, PMI Manufacturing SA, ISM Manufacturing SA, Merck, Co, Caterpillar, Marriott International, Altria, Cruise Line Holdings, Pfizer, Marathon Petroleum, Molson Coors Beverage, SolarEdge Technologies, Devices, Caesars Entertainment, Electronic Arts, Starbucks, ADP Employment Survey SA, CVS Health, Fidelity National Information Services, Generac Holdings, Humana, The Kraft, Brands, MetLife, Marathon Oil, Occidental Petroleum, PayPal Holdings, Qualcomm, Etsy, Costco Wholesale, MGM Resorts, SA, PMI, Factory, PMI SA, News Corp, Constellation Energy, Moderna, Warner Bros, Discovery, Hasbro, ConocoPhillips, Kellogg, Booking Holdings, Expedia, Motorola Solutions, Monster Beverage, Manufacturing Payrolls SA, Nonfarm Payrolls SA, Dominion Energy Locations: United Kingdom, U.S

☆ These 11 funds have performed as well as tech stocks over the past 5 years
▼ + stars: | 2023-07-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Look beyond tech But there are opportunities beyond tech: Morningstar data reveals the funds outside of tech and growth sectors that have also outperformed over the last five years. Top holdings include Home Depot, Johnson Controls International, Floor & Décor and Trane Technologies. Guinness Atkinson Alternative Energy Fund : This fund picks companies in the alternative energy sector, with at least half of the business dedicated to renewable energy or energy efficiency. Global X Lithium and Battery Tech ETF : The ETF comprises lithium producers and lithium battery makers — all essential to electric vehicles. Top holdings include United Airlines, Marathon Oil, Tyson Foods, Best Buy, and Synchrony Financial.

Persons: James Demmert, Hubbell, MasTec, Invesco Russell, Russell, Vanguard Baillie Gifford Organizations: Street Research, U.S . Federal, Morningstar, Enphase Energy, Fidelity, Housing, Home, Johnson, Trane Technologies, Guinness Atkinson Alternative Energy Fund, Schneider, NextEra Energy, Shelton Sustainable Equity Fund, Bunge, Battery Tech ETF, Samsung SDI, Trust, Industrial Renaissance, SPX Technologies, Sterling Infrastructure, Global, U.S . Infrastructure Development, Holdings, Rockwell Automation, United Rentals, Deere, Co, United Airlines, Marathon Oil, Tyson Foods, Synchrony, Heptagon, Equity Fund, Xenon Pharmaceuticals, TransMedics, FTAI Aviation, Vanguard, Moderna, Alnylam Pharmaceuticals, Coursera, Water Resources, Nasdaq, Water Locations: Luxembourg, Eaton, Albemarle

SummaryCompanies Q2 sales and earnings beat estimatesReiterates full-year guidanceNo revenue from COVID vaccine in Q2Shares up 3.1% in early tradeCompany is largest drugmaker in ChinaLONDON, July 28 (Reuters) - AstraZeneca (AZN.L) on Friday delivered better-than-expected profits and sales in the second quarter as a strong performance of its blockbuster cancer drugs helped offset the loss of COVID-19 vaccine sales. The Anglo-Swedish drugmaker posted an adjusted profit of $2.15 per share, up 25% and exceeding the $1.98 per share expected in company-compiled consensus estimates. Total revenue in the quarter was $11.4 billion, up 6% and beating company-compiled analyst estimates of $10.97 billion. Excluding COVID medicines, sales in China grew by 7% at constant exchange rates in the quarter, the fourth consecutive quarter of growth on that basis. AstraZeneca is the largest drugmaker in China, which accounted for 13% of last year's revenue.

Persons: Swedish drugmaker, Pascal Soriot, Markus Manns, Alexion, drugmaker, Maggie Fick, Radhika Anilkumar, Nivedita Bhattacharjee, Josephine Mason Organizations: AstraZeneca, UK's, Pfizer, Moderna, U.S, Union Investment, Thomson Locations: China LONDON, Swedish, China, London, Bengaluru

☆ Pfizer, Flagship Pioneering to invest $100 mln in drug discovery
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +2 min

July 18 (Reuters) - U.S. drugmaker Pfizer (PFE.N) and venture firm Flagship Pioneering on Tuesday said they would invest $100 million together to develop up to 10 new potential drugs for areas including internal medicine, oncology, infectious diseases and immunology. Flagship, which has incubated biotech companies, most famously Moderna Inc (MRNA.O), and Pfizer will each invest $50 million. Flagship's drug discovery initiative Pioneering Medicines will lead the exploration process. Paul Biondi, president of Flagship's Pioneering unit and a former top Bristol Myers Squibb (BMY.N) executive, said the partnership will take advantage of Flagship's abilities to develop novel technologies towards bigger disease areas. Drug developers such as Denali Therapeutics (DNLI.O), Foghorn Therapeutics (FHTX.O) and Sana Biotechnology (SANA.O) are some of the other companies backed by Flagship.

Persons: Paul Biondi, Biondi, Mikael Dolsten, Foghorn, Bhanvi, Michael Erman, Shilpi Majumdar, Alexandra Hudson Organizations: drugmaker Pfizer, Moderna Inc, Pfizer, Flagship's, Bristol Myers Squibb, Flagship, Therapeutics, Foghorn Therapeutics, Sana Biotechnology, Alexandra Hudson Our, Thomson Locations: Bengaluru, New Jersey

☆ Dolly Parton says she 'never' wants to retire: 'I'll just hopefully drop dead on stage'
▼ + stars: | 2023-07-17 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

"I'll just hopefully drop dead in the middle of a song on stage someday, hopefully one I've written." But, Parton said, a few things could convince her to stop working after 60-plus years in the music industry. "As long as I'm able to work, as long as my health is good, and my husband is good," she said. "I have new dreams every day … I've got lots of dreams," Parton said of her future aspirations, noting that she wants to have her own network television show, as well as her own makeup and wig lines. Part of what motivates Parton to keep working, she added, is wanting to see all of her professional goals through to the end.

Persons: Dolly Parton, she'd, Parton, I'm, she's, Tony, Dolly, I've, you've Organizations: Grand Ole Opry, Foundation, Imagination, Moderna

☆ Biden administration asks Pfizer, Moderna and Novavax for 'reasonable' prices on updated Covid vaccines
▼ + stars: | 2023-07-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

A nurse prepares doses of the Pfizer vaccine on Dec. 30, 2021, during a COVID-19 vaccination event at Josephine's Southern Cooking in Chatham, Illinois. The Biden administration on Thursday urged Pfizer , Moderna and Novavax to price their updated Covid vaccines at a "reasonable" rate when they roll them out in the U.S. this fall. A Moderna spokesperson reiterated the company's previous remarks about being ready in time for the fall with ample vaccine supply. Federal and corporate programs are planning to help shoulder the out-of-pocket costs of updated shots this fall for uninsured Americans. Pfizer and Moderna also intend to launch patient assistance programs for their Covid shots.

Persons: Biden Organizations: Pfizer, Moderna, Department of Health, Human Services, CNBC, U.S, HHS, Centers, Medicare, Medicaid Services, Food and Drug Administration, for Disease Control, Federal Locations: Chatham , Illinois, Novavax, U.S

☆ Biden administration to provide free Covid vaccines to uninsured Americans this fall through end of 2024
▼ + stars: | 2023-07-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The Biden administration on Thursday announced a program to provide free Covid vaccines to uninsured Americans through December 2024 after the federal government's supply of shots runs out this fall. Those free shots, which the government is purchasing at a discount, will be available to the uninsured at pharmacies and 64 state and local health departments. There are between 25 to 30 million uninsured adults in the United States and other Americans whose insurance will not cover free Covid products this fall, according to the federal Centers for Disease Control and Prevention. In the fall, the companies will begin selling shots directly to health providers, and the government's supply is expected to run out. Earlier this year, the World Health Organization declared an end to the global Covid public health emergency earlier this year.

Persons: Biden Organizations: Pfizer, BioNTech, Peabody Institute Library, The, Human Services Department, for Disease Control, Moderna, World Health Organization, HHS Locations: Peabody , Massachusetts, United States, Novavax

☆ Nvidia invests $50 million in biotech company Recursion for A.I. drug discovery
▼ + stars: | 2023-07-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Chipmaker Nvidia will invest $50 million in Recursion Pharmaceuticals to speed up the development of the biotech firm's artificial intelligence models for drug discovery, the companies said Wednesday. AI models usually require vast amounts of data, typically measured in terabytes, to train them. Nvidia can then potentially license those AI models on BioNeMo, the company's cloud service for generative AI in drug discovery that it rolled out earlier this year. A month later, Google Cloud launched two new AI-powered tools that aim to help biotech and pharmaceutical companies accelerate drug discovery. The company in May acquired two companies in the AI-driven drug discovery space for $87.5 million.

Persons: Roche, Chris Gibson, Nvidia's, drugmakers, Exscientia, AbCellera Biologics, — CNBC's Benjamin Taubman Organizations: Nvidia, Pharmaceuticals, Bayer, NVIDIA, Moderna, Google Cloud Locations: Salt Lake City , Utah

☆ We've only seen the beginning of Moderna's story, says Goldman Sachs' Salveen Richter
▼ + stars: | 2023-07-11 | 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 EmailWe've only seen the beginning of Moderna's story, says Goldman Sachs' Salveen RichterSalveen Richter, Goldman Sachs lead biotech analyst, joins 'Closing Bell Overtime' to discuss the biotech sector and how investors should play in the space.

Persons: Goldman Sachs, Salveen Richter Salveen Richter

☆ Billionaires and corporate execs have dumped $9 billion worth of stock this year amid the market's latest rally
▼ + stars: | 2023-07-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Billionaires and CEOs have dumped $9 billion in stock this year. Many of those sales have been concentrated in the tech sector amid Wall Street's frenzy over AI. Executives have cashed in on the rally as the S&P 500 recovers from a dismal 2022 performance. Meanwhile, AirBnB co-founder Joe Gebbia sold off $893 million of his company's stock during the first half. Oracle CEO Safra Catz also trimmed her holdings of the company, selling $470 million worth of the company's stock.

Persons: Walton, AirBnB, Joe Gebbia, Larry Ellison, Safra Catz, Salesforce's Marc Benioff, Stephane Bancel, Josh Harris Organizations: Service, CNBC, Walmart, Sam's, Oracle, Moderna, Apollo, Vanda Research Locations: Wall, Silicon

☆ Novavax stock spikes 20% after company snags $350 million from Canada for unused Covid shots
▼ + stars: | 2023-07-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

It's unclear how many doses of Novavax's jab – its only commercially available product after 35 years – went unused. Under the amended agreement, Novavax will also provide Canada with fewer doses of its vaccine on a revised delivery schedule. In May, Novavax adopted a more positive outlook and announced a sweeping cost-cutting plan alongside its first-quarter earnings report. Novavax's stock price jumped around 30% on that news, but Wall Street hasn't entirely bought into the recovery plan: The company's stock price is still down roughly 15% since the start of the year after shedding more than 90% of its value in 2022. Novavax still faces a number of challenges ahead, including competing with Pfizer and Moderna in the commercial Covid vaccine market and a pending $700 million arbitration over a canceled vaccine purchase agreement.

Persons: –, Novavax Organizations: SEC, Canadian, Securities and Exchange Commission, Pfizer, Moderna Locations: Maryland, Canada

☆ 4 things making it harder for Janet Yellen to repair the US-China relationship
▼ + stars: | 2023-07-06 | by ( Laura He | ) edition.cnn.com time to read: +9 min

The global economy stands to gain if Washington and Beijing can mend fences, but analysts say this appears unlikely. Here are four things likely to make it harder for Yellen to repair US-China ties, and one thing keeping the relationship going. Sequoia’s executives said in a statement that it has become “increasingly complex” to run a decentralized global investment business. On Wednesday, US pharmaceutical firm Moderna (MRNA)signed a deal to make its first major investment in China. “Both sides are ramping up commercial restrictions in the name of national security and national interests,” she said.

Persons: Janet Yellen, China, ” Wei Jianguo, ”, Anna Ashton, Biden, Beijing’s, Wei, Capvision, Xi Jinping’s, “, Li Qiang, Xi, Alex Capri, ” Ashton, —, Jennifer Hansler, Wayne Chang, Bryan Mena Organizations: Hong Kong CNN, Eurasia Group, Micron Technology, China Daily, Analysts, China, Capvision, Bain & Company, Group, Forrester Research, Ontario, Republicans, Hawks, Shanghai Cooperation Organization, Xinhua, US Commerce Department, “, National University of Singapore Business School, Moderna Locations: Hong Kong, Beijing, United States, China, Chinese, Washington, Japan, Europe, Shanghai, New York, decouple, Moscow, Ukraine, Russia, Taiwan, Tianjin

☆ Stocks making the biggest moves midday: JetBlue, Affirm, Genius Sports, Sweetgreen and more
▼ + stars: | 2023-07-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

A JetBlue Airways Corp. plane departs at Reagan National Airport (DCA) in Arlington, Virginia, U.S., on Monday, April 6, 2020. Check out the companies making the biggest moves midday:JetBlue Airways — Shares of JetBlue Airways shed 7.18%. Sweetgreen — The salad chain jumped 15.49% following an upgrade to buy from neutral by Bank of America. Bank of America — The bank stock dropped 2.75%. Bank of America announced after the bell Wednesday it was increasing its quarterly dividend to 24 cents per share from 22 cents.

Persons: Piper Sandler, Sweetgreen, Dr Pepper —, Morgan Stanley, Genius, —, Samantha Subin, Alex Harring, Jesse Pound Organizations: JetBlue Airways Corp, Reagan National Airport, JetBlue Airways —, JetBlue Airways, American Airlines, JetBlue, Spirit Airlines, Bank of America, Ford, National Football League, Moderna, pharma, U.S Locations: Arlington , Virginia, U.S, China

Hong Kong CNN —US drugmaker Moderna has signed a deal to make mRNA medicines in China as part of its first major investment in the country, despite escalating trade and political tension between Washington and Beijing. The company currently only markets its mRNA vaccines for Covid-19, but has a number of vaccines and therapeutics in its pipeline. Those focus on addressing infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases and autoimmune diseases, according to the company. Moderna’s Covid-19 vaccine, which received emergency authorization from US regulators in 2020 and full approval in 2022, has not been approved in China. For most of the pandemic, China relied on more traditional platforms for its homegrown Covid-19 vaccines.

Persons: Yicai, Janet Yellen, Biden, Moderna’s, Johnson Organizations: Hong Kong CNN, CNN, Xinhua, CSPC Pharmaceutical Group, Pfizer Locations: Hong Kong, China, Washington, Beijing, The Cambridge , Massachusetts, Shanghai’s Minhang, Shijiazhuang

SummarySummary Companies UPS slips after Teamsters say it walked away from talksModerna climbs on deal to develop mRNA medicines in ChinaChip stocks slide on China's export curbsFed minutes awaited at 2:00 p.m. ETFutures down: Nasdaq 0.51%, S&P 0.42%, Dow 0.42%July 5 (Reuters) - Wall Street futures fell on Wednesday as investors awaited minutes of the Federal Reserve's June meeting for clues on the central bank's monetary policy path, while Sino-U.S. tensions and weak economic data from Beijing dented sentiment. Investors are focused on the Fed minutes, expected to be released around 2 p.m. More economic data, including the non-farm payrolls report on Friday, is scheduled for release this week. ET, Dow e-minis were down 146 points, or 0.42%, S&P 500 e-minis were down 19 points, or 0.42%, and Nasdaq 100 e-minis were down 78 points, or 0.51%.

Persons: Ipek Ozkardeskaya, Goldman Sachs, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Vinay Dwivedi Organizations: Moderna, Dow, Wall, Sino, Microsoft, Investors, Fed, Swissquote Bank, Traders, Nvidia, Micron Technology, Netflix, Wolfspeed Inc, Renesas Electronics Corp, Tesla, Dow e, Nasdaq, United Parcel Service, Teamsters, Rivian, Thomson Locations: China, U.S, Beijing, Washington, Germany, Bengaluru

Investors are focused on the Fed minutes, expected to be released around 2 p.m. Bets for a 25-basis-point rate hike in July stood at 83%, while traders have priced in a 32% chance the U.S. central bank would deliver another hike by October, according to Refinitiv data. "Stocks have accounted for another 25 basis point rate hike when the Fed meets later this month, but a lot of people are divided on whether or not there's going to be another rate hike (after July)." More economic data, including the non-farm payrolls report on Friday, is scheduled for release later this week. Declining issues outnumbered advancers by a 3.73-to-1 ratio on the NYSE and a 2.24-to-1 ratio on the Nasdaq.

Persons: Robert Pavlik, Goldman Sachs, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Vinay Dwivedi Organizations: Netflix, Dow, Nasdaq, Sino, Dakota Wealth, Fed, Traders, U.S, Nvidia, Micron Technology, Semiconductor, SOX, Renesas Electronics Corp, Tesla, Dow Jones, United Parcel Service, Teamsters Union, Moderna, NYSE, Thomson Locations: China, U.S, Beijing, Washington, Philadelphia, Bengaluru

☆ Stocks making the biggest moves midday: Meta Platforms, Coinbase, UPS, General Motors & more
▼ + stars: | 2023-07-05 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Meta Verified displayed on mobile with Meta on screen, seen in this photo illustration, on February 27, 2023 in Brussels, Belgium. Meta Platforms — Shares of the social media giant rose more than 2% even after a European Court ruled against Meta in an anti-trust case on Tuesday. Moderna – The Massachusetts-based biotechnology company added 2.1% after announcing it reached an agreement with officials to manufacture and develop mRNA medicines in China. General Motors — The legacy automaker added climbed nearly 1% after the company said U.S. sales increased 18.8% in the second quarter. The union said in a statement Wednesday that talks had collapsed after UPS "walked away" from negotiations.

Persons: Meta, Coinbase, Piper Sandler, Coinbase hasn't, —, General Motors, Donald Trump, Samantha Subin, Tanaya Macheel, Michelle Fox, Hakyung Kim, Jesse Pound, Alex Harring Organizations: Meta, Twitter, Renesas Electronics, Moderna, General, Equity Investment, Brookfield, United Parcel Service, Teamsters, UPS, Securities and Exchange Commission, SEC Locations: Brussels, Belgium, The Massachusetts, China

☆ Three-Stock Lunch: UPS, Moderna and Coinbase
▼ + stars: | 2023-07-05 | 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 EmailThree-Stock Lunch: UPS, Moderna and CoinbaseMichael Landsberg, Landsberg Bennett Private Wealth Management CIO, joins 'Power Lunch' to discuss Landsberg's thoughts on three stocks: UPS, Moderna, and Coinbase.

Persons: Coinbase Michael Landsberg, Landsberg Bennett Organizations: Moderna, Wealth Management Locations: Landsberg

☆ Cramer examines the worst performers from the first half of 2023, explains why the market seems narrow
▼ + stars: | 2023-07-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer said Wednesday that if investors are waiting for the market to broaden for a rally, they may as well be "Waiting for Godot." Cramer examined the ten worst performers for the first half of the year in both the Dow and the S&P 500, explaining the internal and external challenges these companies might be facing. "How the heck can this market broaden out when so many companies have simply become have-nots, either because of the yield curve or lawsuits or sector-wide woes that prevent them from doing well in this environment," Cramer said. In the Dow, Johnson & Johnson , which is owned by CNBC's Charitable Trust, Walgreens and Nike are among the worst performers. "So why not just go with what's working instead of waiting for what's clearly not working, and stop thinking that things have to broaden out before you should get interested," he said.

Persons: CNBC's Jim Cramer, Cramer, Johnson, Charles Schwab Organizations: Dow, Johnson, CNBC's Charitable Trust, Walgreens, Nike, Advance, Federal Reserve, Nasdaq Locations: Moderna

☆ Moderna strikes deal to develop mRNA drugs in China
▼ + stars: | 2023-07-05 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Moderna on Wednesday said it struck a deal with Chinese officials to research, develop and manufacture messenger RNA medicines in the country, despite rising tensions between the U.S. and China. The Massachusetts-based biotech company signed a memorandum of understanding and a related land collaboration deal to develop drugs that will "be exclusively for the Chinese people" and won't "be exported," a Moderna spokesperson told CNBC. The Moderna spokesperson did not confirm the report or comment on the size of the deal. Moderna in May said it was keen to sell its mRNA Covid vaccine to China after registering a legal entity in the world's second-largest economy. The country has also struggled to develop mRNA technology at home during the pandemic.

Persons: Stéphane Bancel, It's, drugmakers, Biden Organizations: Moderna, U.S, CNBC, The Moderna, Pfizer, China's Ministry of Commerce, AstraZeneca, Novo Nordisk, Merck, Sanofi, GE HealthCare Technologies Locations: China, The Massachusetts, Shanghai, Japan, Canada, Australia, Kenya, Beijing, New York

☆ Moderna agrees deal in China with view to developing mRNA medicines
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

Companies Moderna Inc FollowSHANGHAI, July 5 (Reuters) - Vaccine maker Moderna Inc (MRNA.O) said on Wednesday it had signed a memorandum of understanding and a land collaboration agreement to work towards opportunities for it to research, develop and manufacture mRNA medicines in China. Moderna said in May it was looking for opportunities in China after registering a legal entity in the world's second-largest economy. The company prior to this had no presence in mainland China. Its expansion into mainland China comes as its revenue growth slows sharply due to waning global demand for its COVID-19 vaccine, the U.S. company's only approved product. Those vaccines, based on the same mRNA platform as its COVID shot, have yet to be filed for regulatory approval decisions.

Persons: Stéphane Bancel, Brenda Goh, Andrew Heavens, Louise Heavens Organizations: Moderna Inc, Reuters, Moderna, Thomson Locations: China, Shanghai, Moderna, Hong Kong, Asia, U.S, Beijing

BEIJING, July 5 (Reuters) - China's Commerce Minister told foreign pharmaceuticals firms they can expect "more development opportunities" during a roundtable on Wednesday, his ministry said, as drugmakers bemoan government procurement policies pricing them out of the market. Foreign pharmaceuticals firms have struggled to cement any inroads they have made into the world's second-largest economy, with the government maintaining a drug procurement programme that forces them to slash their prices and refusing to approve the use of any foreign COVID-19 vaccines during the pandemic. But as China pursues home-grown modernisation it will also open up "more development opportunities for foreign-funded enterprises, including the pharmaceutical industry," Wang told the meeting. Wang told the meeting on Wednesday that his ministry will expand the channels of communication for responding to and solving concerns, with the meeting resulting in 25 specific suggestions to be taken forward. Reporting by Joe Cash; Additional reporting by Kevin Yao;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Roche, Takeda, Wang Wentao, Wang, Li Qiang, Li, drugmakers, Joe Cash, Kevin Yao, Elaine Hardcastle Organizations: China's Commerce, AstraZeneca, Bayer, Merck, Novo Nordisk, Pfizer, Sanofi, Moderna, Wednesday, Economic, Thomson Locations: BEIJING, China, Tianjin

☆ Sanofi says it's back to the drawing board on mRNA flu vaccines
▼ + stars: | 2023-06-29 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

Both A and B viruses are responsible for seasonal flu epidemics each year and currently available flu shots work against both strains. "To succeed in mRNA flu, you need the next generation of mRNA technology, which is exactly what we are working on," Thomas Triomphe, head of vaccines at Sanofi, told Reuters. Pfizer (PFE.N) last year started a large late-stage trial testing an mRNA-based flu vaccine candidate. Sanofi, which is among the top four global vaccines makers by sales, trailing GSK (GSK.L), Merck & Co (MRK.N) and Pfizer (PFE.N), has a broad vaccines offering, including flu, childhood shots and travel vaccines. The French company's vaccine sales accounted for 7.2 billion euros ($7.85 billion) of 43 billion euros in group sales last year.

Persons: Thomas Triomphe, BioNTech, Ludwig Burger, Elaine Hardcastle Organizations: Sanofi, Reuters, Pfizer, COVID, GSK, Merck & Co, Thomson

☆ Stocks making the biggest moves midday: Pfizer, Lucid, WSFS Financial and more
▼ + stars: | 2023-06-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Lucid Group — Lucid shares jumped 9% after the electric vehicle maker said it will provide powertrain and battery systems to British luxury automaker Aston Martin. Davidson upgraded the stock to buy from neutral, noting WSFS could benefit from a higher-for-longer interest rate environment. UBS upgraded the pharmaceutical stock to buy from neutral, saying the potential for other vaccines for the company isn't fully appreciated by investors. Alphabet — Shares of Alphabet fell 1.8% after UBS downgraded the tech giant to neutral from buy. Tesla — The electric vehicle maker dropped 2.8% after Goldman Sachs downgraded Tesla to neutral from buy.

Persons: Aston, Davidson, WSFS, Tesla, Goldman Sachs, Morgan Stanley, — CNBC's Michelle Fox, Alex Harring, Jesse Pound Organizations: Aston Martin, D.A, Regional Banking, Pfizer, Cruise, Moderna — Moderna, UBS, Barclays Locations: Royal Caribbean

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