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☆ Sanofi Plans to Spin Off Consumer-Healthcare, Pharma Businesses
▼ + stars: | 2023-10-27 | by ( Adrià Calatayud | ) www.wsj.com time to read: 1 min

REUTERS/Gonzalo Fuentes Photo: GONZALO FUENTES/REUTERSSanofi plans to split its consumer-healtchare and pharmaceutical operations, making it the latest big drugmaker to sharpen its focus on prescription medicines by offloading adjacent businesses. The French company outlined the plan on Friday as part of a strategic update that includes increased investment in its pipeline and a cost-savings program.

Persons: Gonzalo Fuentes, GONZALO FUENTES Organizations: Sanofi

☆ Sanofi loses $21 bln in market value after dropping 2025 profit target
▼ + stars: | 2023-10-27 | by ( Ludwig Burger | ) www.reuters.com time to read: +6 min

Under a push to spend more on immunology and inflammation drug development, the company abandoned a target for a 32% operating profit margin for 2025 to focus on "long-term profitability". EPS would see a strong rebound in 2025 but not enough to sustain the previous margin target. CONSUMER STAND-ALONECEO Hudson said the core innovative drugs business had improved enough to soon do without the more predictable cash flows from consumer products. The logo of French drugmaker Sanofi is seen a the Sanofi Genzyme Polyclonals in Lyon, France, September 30, 2023. The timing of the potential consumer listing, which Sanofi said would be in the fourth quarter of 2024 or later, would be set to maximize shareholder value.

Persons: Hudson, Sanofi, drugmaker, Paul Hudson, Terence McManus, Johnson, we've, Gonzalo Fuentes, Roche, Dupixent, Ludwig Burger, Sherry Jacob, Phillips, Mark Potter, Sharon Singleton Organizations: Sanofi, Bellevue Asset Management, Reuters, Barclays, Johnson, GSK, Pfizer, Bayer, Polyclonals, REUTERS, Provention, Merck & Co, Thomson Locations: France, Bellevue, Lyon, Paris

☆ Sanofi loses $21 billion in market value after dropping 2025 profit target
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: +2 min

Chesnot | Getty ImagesSanofi stock plunged on Friday, wiping 20 billion euros ($21 billion) off its market value, after it abandoned its 2025 profit target under a plan to list its consumer healthcare business to focus on its core innovative drugs business. Under a push to spend more on immunology and inflammation drug development, the company abandoned a target for a 32% operating profit margin for 2025 to focus on "long-term profitability." Sanofi shares trade at a 12 month forward price-to-earnings ratio of 11, a discount to AstraZeneca's 16 and global pharma index of 17, according to LSEG data. Bayer, led by a new CEO since June, has faced calls by several investors to split off its consumer business. EPS would see a strong rebound in 2025 but not enough to sustain the previous margin target.

Persons: Sanofi, drugmaker, Paul Hudson, Terence McManus, Kenvue, Johnson, Bayer Organizations: Chesnot, Getty, Sanofi, Bellevue Asset Management, Reuters, Barclays, Johnson, GSK, Pfizer Locations: Gentilly, Paris, France, Bellevue

casey newtonAnd this caused a big sort of emotional reaction that said, wow, that feels like really, really icky. It’s just really, really awful. How do I get really, really good at this? But we have that explosion at the beginning, which is really, really exciting. I’m still interested in smartphones because I think they’re really, really advanced pieces of tech.

Persons: kevin roose, Kevin Roose, ” casey newton, Casey Newton, ” kevin roose, casey newton Oh, casey newton, ” kevin roose You’re, kevin roose That’s, kevin roose I’m Kevin Russo, Marques Brownlee, a.k.a, We’ve, don’t, casey newton Well, Meta, It’s, casey newton Right, casey newton It’s, kevin roose Totally, I’ve, you’re, Instagram, Snapchat, TikTok, They’re, that’s, kevin roose Casey, Hansel, Gretel, let’s, they’re, casey newton Jewel, ”, Juul, Meta didn’t, we’ve, “ We’re, There’s, Al Capone, They’ve, —, Kevin, casey newton I’ve, casey newton That’s, Marquez Brownlee, Casey, He’s, Marquez, he’s, Elon Musk, Sundar Pichai, you’ll, marquez brownlee, casey newton I’m, You’ve, casey newton Let’s, you’ve, it’s, I’m, he’ll, kevin roose Marquez, PewDiePie, marquez brownlee I’ll, they’ve, Ralph, That’s, kevin roose It’s, you’d, we’re, I’d, casey newton Libraries ! marquez brownlee, everyone’s, Samantha, Davis, Fancy, Bard, DALL, Midjourney, ChatGPT, Bing, who’s, it’ll, OpenAI, Pope, kevin roose Pope, — casey newton, casey newton Ah, Mickey Mouse, Eli Lilly, barbecuing, bro, Fabio, Getty, Greg Rutkowski, kevin roose Really, Greg, there’s, Ben Zhao, casey newton We’re, Bob Ross Organizations: The New York Times, YouTube, Meta, pharma, AGs, Netflix, COPPA, Facebook, Congress, Digital Services, Federal Communications Commission, ABC, CBS, FCC, Samsung, casey newton Libraries, VR, Apple, ChatGPT, Enterprise, DALL, Disney, Twitter, Getty, “ MIT Tech, University of Chicago, Adobe Locations: California, Colorado, what’s, you’re, Europe, United States, China, earbuds

Last year's U.S. Supreme Court decision rescinding a five-decade-old right to abortion has reshaped American abortion policy, shifting power to states. Sales of abortion pills in 2022 were up 60%, according to Nikolay Bespalov, development director of the RNC Pharma analytical company. A recent Health Ministry decree restricted circulation of abortion pills, used to terminate pregnancies in the first trimester. Regional authorities have tried to get private clinics to stop offering abortions, with varying success. In Tatarstan, about a third of all private clinics no longer provide them, officials said.

Persons: heartened Dasha, Vladimir Putin, Yakovleva, ”, Michele Rivkin, rescinding, Putin, Mikhail Murashko, Nikolay Bespalov, Yekaterina Hivrich, Irina Fainman, Fainman, Pyotr Tolstoy, Irina Volynets, Lina Zharin, ” Natalya Moskvitina, Moskvitina, Olga Mindolina, Mindolina, Anastasia, “, Lyubov Organizations: Associated Press, Nationwide, Health Ministry, University of North, Supreme, Russian Orthodox Church, Health, AP, Authorities, Lahta Clinic, Conservative, Women Locations: TALLINN, Estonia, Kaliningrad, Russia, U.S, University of North Carolina, Last, Soviet Union, ” State, Ukraine, St . Petersburg, Karelia, Tatarstan, mulling, Chelyabinsk, Mordovia, Voronezh

☆ Investors deliver harshest punishment for earnings warnings in 16 years
▼ + stars: | 2023-10-27 | by ( Lucy Raitano | ) www.reuters.com time to read: +4 min

Barclays (BARC.L), a big UK lender, fell as much as 8% after signalling major cost cuts because of weakness on its home turf. Mark Denham, head of European equities at Carmignac, said high quality companies with high valuations tend to be very vulnerable if they miss earnings. According to Kasper Elmgreen, CIO at Nordea Asset Management, the fact that the economy is now starting to slow is one factor behind investors' harsh treatment of earnings disappointments. Amid the volatility, some investors see a buying opportunity in overly punished stocks. It is an example of a highly valued stock being extra punished for the environment," Denham said.

Persons: Morgan Stanley, Angelo Meda, Mark Denham, Denham, Kasper Elmgreen, Elmgreen, Fabio Di Giansante, Carmignac's Denham, Danilo Masoni, Alun John, Joice Alves, Amanda Cooper, Hugh Lawson Organizations: Sanofi, Barclays, Banor SIM, Siemens Energy, Volkswagen, Volvo, Asset Management, Euroland Equity, pharma, Thomson Locations: Milan, Swiss, London

☆ ‘Guided Missile Drugs’ Could Be Big Pharma’s Secret Weapon
▼ + stars: | 2023-10-26 | by ( David Wainer | ) www.wsj.com time to read: 1 min

Merck and Daiichi Sankyo agreed to jointly develop and commercialize three potential antibody-drug conjugates in a deal worth up to $22 billion. Photo: Christopher Occhicone/Bloomberg NewsA true home run in the drug industry is when a company develops a mega-blockbuster that transforms its finances for years. But with Medicare trying to bring costs down by targeting the industry’s most expensive drugs, a portfolio of medium-size moneymakers that can keep your name off the U.S. government’s naughty list can be a wise strategy.

Persons: Christopher Occhicone Organizations: Merck, Bloomberg

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Microsoft, Gap, Verizon, Alphabet & more
▼ + stars: | 2023-10-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Wells Fargo upgrades Gap to overweight from equal weight Wells said the turnaround is taking shape for Gap. Deutsche Bank upgrades Livent to buy from hold Deutsche said it sees an attractive entry point for the lithium company. Bank of America downgrades TransUnion to underperform from buy Bank of America double downgraded the stock due to concerns about consumer lending. Bank of America initiates Syndax as buy Bank of America said it sees upside for the pharmaceutical company. Monness, Crespi, Hardt & Co. downgrades Alphabet to neutral from buy Monness said it's concerned about regulatory headwinds.

Persons: TD Cowen, Freyr, FREY, Goldman Sachs, Goldman, it's, We're, Wells, Needham, Etsy, Piper Sandler, Piper, TRU, SocGen, Bernstein, Deutsche Bank downgrades Corning, 2H24, Jefferies, Monness, Crespi, Hardt, Piper Sandler downgrades Livent Organizations: EV, Apple, BMO, Bank of America, Microsoft, GPS, Alto Networks, Deutsche Bank, Deutsche, Citi, TAM, Barclays, Verizon, Piper Sandler downgrades Regions, Citizens Financial, RF, " Bank of America, Farfetch, Machinery, UBS, Nvidia, Veeva, Commercial, Syndax Pharmaceuticals Locations: EVgo, Cybersecurity, Corning, Albemarle, LTHM

☆ This $5 Billion Biotech Home Run Took Less Than a Year
▼ + stars: | 2023-10-24 | by ( David Wainer | ) www.wsj.com time to read: 1 min

Ownership of the drug went from Pfizer to Roivant and then to Roche with stunning speed. Photo: Stefan Wermuth/Bloomberg NewsYou can’t completely blame Pfizer ’s executives, yet Roche ’s $7 billion acquisition of a bowel-disease treatment that it owned until last year isn’t a great look. In a deal that now feels like a biotech version of “Moneyball,” Roivant announced it was selling an asset that only 11 months ago it got for free from Pfizer. Big pharma companies focused on the drug industry equivalent of free agent signings will often overlook one of their own hot prospects. In fact, Republican presidential candidate Vivek Ramaswamy founded Roivant on the idea that pharma’s trash can be another company’s treasure.

Persons: Roche, Stefan Wermuth, Pfizer ’, ” Roivant, Vivek Ramaswamy, Roivant Organizations: Pfizer, Roivant, Bloomberg, Street Journal, Big pharma, Republican

☆ A biotech firm founded by Vivek Ramaswamy turned $15 million into $5 billion by flipping a bowel-disease treatment that Pfizer gave it for free
▼ + stars: | 2023-10-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Roche acquired a bowel-disease treatment from Roivant for over $7 billion, the Wall Street Journal reported. AdvertisementAdvertisementRoche's acquisition of a bowel-inflammation treatment delivered a massive windfall for presidential candidate Vivek Ramaswamy's company Roivant, the Wall Street Journal reported. But Roivant's expenses to develop the treatment, which targets an inflammatory protein called TL1A, amounted to just $15 million. And just this month, a $1.5 billion collaboration between Sanofi and Teva Pharmaceuticals was announced for more TL1A treatment. "This is a $15 billion market just in the US, and that's just in [inflammatory bowel disease," Roche chief Teresa Graham told the Journal.

Persons: Roche, Roivant, —, Vivek Ramaswamy's, Pfizer, TL1a, that's, " Roche, Teresa Graham Organizations: Wall Street Journal, Pfizer, Service, Telavant Holdings, Food and Drug Administration, Roivant, Prometheus Biosciences, Merck, Sanofi, Teva Pharmaceuticals, pharma Locations: Roivant, Japan

☆ Roche to Buy Bowel-Disease Drug From Roivant, Pfizer for More Than $7 Billion
▼ + stars: | 2023-10-23 | by ( Adrià Calatayud | ) www.wsj.com time to read: 1 min

Roche’s deal is the latest example of a big pharma company turning to the deal table to bolster its pipeline of autoimmune drugs. Photo: Philipp Schmidli/Bloomberg NewsRoche Holding has agreed to buy the developer of a bowel-disease treatment from Roivant Sciences , a company started by Republican presidential candidate Vivek Ramaswamy , and Pfizer in a deal worth more than $7 billion. The Swiss pharmaceutical giant said Monday it would pay $7.1 billion upfront for Telavant Holdings, and make a near-term milestone payment of $150 million. Roche said the deal gives it rights to commercialize Telavant’s RVT-3101 drug candidate, which has shown promise for inflammatory-bowel disease and could have potential in other indications, in the U.S. and Japan.

Persons: Philipp Schmidli, Vivek Ramaswamy, Roche Organizations: pharma, Bloomberg, Roche Holding, Roivant Sciences, Republican, Pfizer, Telavant Holdings, Telavant’s Locations: Swiss, U.S, Japan

☆ Swiss pharma giant Roche agrees $7.1 billion deal to buy Telavant Holdings
▼ + stars: | 2023-10-23 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Swiss health care company Roche on Monday announced it would acquire Telavant Holdings in a $7.1 billion transaction. Telavant produces drugs for people suffering from inflammatory and fibrotic diseases and is in the process of developing a "promising new therapy" for patients with Crohn's disease, Roche said in a press release. "We are eager to develop this antibody further and bring it to market and patients in the US and Japan as soon as possible." Telavant is currently owned by Pfizer and Roivant Sciences. In the Monday announcement, Roche also said it would obtain an option to collaborate with Pfizer on a new inflammatory bowel disease drug.

Persons: Roche, — Roche, Teresa Graham, Telavant Organizations: Monday, Telavant Holdings, Roche Pharmaceuticals, CNBC, Pfizer, Roivant Sciences Locations: Japan

New Roche CEO Thomas Schinecker is keen to restore Roche's battered drug development record after major late-stage trial setbacks in the areas of Alzheimer's and cancer immunotherapy last year. The acquired drug, against inflammatory bowel disease such as ulcerative colitis and Crohn's disease, belongs to a class of new treatments known as anti-TL1A antibodies which has attracted major deal activity in the pharma industry. Merck & Co (MRK.N) in April agreed to buy anti-TL1A antibody developer Prometheus Biosciences for $10.8 billion. Inflammatory bowel disease is a group of chronic gastrointestinal disorders with almost 8 million people diagnosed worldwide and 80% of all individuals not experiencing lasting remission, Roche said. "We strongly believe this novel TL1A directed antibody has the transformational potential to make a significant difference for patients living with inflammatory bowel disease and potentially other diseases," said Roche CEO Schinecker.

Persons: drugmaker Roche, Arnd, New Roche, Thomas Schinecker, Schinecker, Roche, John Revill, Ludwig Burger, Friederike Heine, Jason Neely Organizations: REUTERS, Roivant Holdings, Pfizer Inc, pharma, Sanofi, Merck & Co, Prometheus Biosciences, Thomson Locations: Basel, Switzerland, ZURICH, FRANKFURT, Swiss, U.S, Japan, Zurich, Frankfurt

☆ WPP fires executive detained in China on suspicion of bribery
▼ + stars: | 2023-10-23 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Advertising giant WPP says it has fired an executive detained in China on suspicion of bribery. Last week, news emerged that the Chinese police had raided the Shanghai office of advertising agency GroupM, owned by WPP. WPP said Tuesday it had fired an executive detained in China on suspicion of bribery. The police didn’t name the company, but the Financial Times and Chinese state media linked it to GroupM. The announcement came a month after police questioned employees at the Shanghai office of top consultancy Bain.

Persons: ”, Terry Gou, wouldn’t, Mintz Organizations: Hong Kong CNN —, WPP, CNN, Reuters, Shanghai, Financial Times, drugmaker Astellas Pharma, China, Mintz Group, Bain Locations: China, Hong Kong, Shanghai, Beijing

☆ Apple iPhone maker Foxconn being investigated in China as founder runs for Taiwan presidency
▼ + stars: | 2023-10-23 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Taiwan’s Foxconn, one of Apple’s largest suppliers, is being investigated by authorities in China, according to state media. Foxconn, also known as Hon Hai Precision Industry, has iPhone factories in Guangdong and Henan, including the world’s largest in the city of Zhengzhou. The company’s listed unit in Shanghai, Foxconn Industrial Internet, plummeted by its daily limit of 10% on Monday. Terry Gou, Foxconn founder, announces bid for Taiwan presidency during a press event in Taipei on August 28. The crackdown came despite repeated calls from Chinese leaders to welcome more foreign investment to boost the country’s slowing economy.

Persons: Taiwan’s, Terry Gou, won’t, Foxconn, “, ”, Brock Silvers, Gou, Hai, ” Gou, Ann Wang, Lai Ching, — Hou Yu, Ko Wen, Zhang Wensheng, ” Zhang, Silvers Organizations: Hong Kong CNN, Global Times, CNN, Hai Precision Industry, Foxconn Technology, WPP, drugmaker Astellas Pharma, Kaiyuan, “, Apple, Communist, Taiwan, Democratic People’s Party, ih, Kuomintang, Taiwan People’s Party, Beijing, China’s Xiamen University, Financial Times, Shanghai, Economic Observer Locations: China, Hong Kong, Beijing, Guangdong, Jiangsu, Henan, Hubei, Zhengzhou, Shanghai, Taipei, Taiwan

☆ Cramer's Lightning Round: Sell Fisker
▼ + stars: | 2023-10-23 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Fisker's year-to-date stock performance. Stock Chart Icon Stock chart icon AutoNation's year-to-date stock performance. Stock Chart Icon Stock chart icon Nu's year-to-date stock performance. Stock Chart Icon Stock chart icon Iridium's year-to-date stock performance. Stock Chart Icon Stock chart icon Bristol-Myers' year-to-date stock performance.

Persons: I'm, Petroleo, it's, We're, Myers Organizations: Petroleo, Bristol, Myers, pharma Locations: America

☆ Commodity-linked stocks drag FTSE 100 lower, Indivior lifts midcaps
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Toby Melville/File photo Acquire Licensing RightsSummaryCompanies FTSE 100 off 0.1%, FTSE 250 adds 0.1%Oct 23 (Reuters) - The UK's FTSE 100 slipped on Monday as rising government bond yields and losses in commodity-linked stocks kept equities under pressure, while Indivior shares boosted the midcap index on a lawsuit settlement. The commodity-focused FTSE 100 (.FTSE) was down 0.1% as of 7:08 GMT, while the mid-cap FTSE 250 (.FTMC) edged 0.1% higher. Precious metal miners (.FTNMX551030) lost 1.0% after gold prices slipped as U.S. dollar and Treasury yields strengthened. Indivior (INDV.L) shares added 7.0% after the drugmaker said it would pay $385 million to settle a lawsuit. Investors will be on the lookout for a slew of banks reporting results throughout the week with major lender Barclays (BARC.L) scheduled to post results on Tuesday.

Persons: Toby Melville, Khushi Singh, Janane Organizations: London Stock Exchange, REUTERS, FTSE, Treasury, pharma, Barclays, Meta, Microsoft, Thomson Locations: Canary Wharf, London, Britain, Israel, Bengaluru

☆ Bladder cancer studies suggest new ways to treat the disease and improve survival
▼ + stars: | 2023-10-22 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +9 min

This is one of several new studies exploring ways to improve how bladder cancer is treated. “Ever since I was in med school, a metastatic bladder cancer treatment was gemcitabine and platinum. Urothelial cancer is a type of bladder cancer that begins in the urothelial cells, which line the inside of the bladder. The drug became the first therapy targeting a genetic alteration to be approved by the FDA to treat patients with the most common type of bladder cancer, metastatic urothelial cancer. “These results support nivolumab plus cisplatin-based chemo as a new standard approach for the treatment of metastatic urothelial cancer.”

Persons: vedotin, hadn’t, ”, Thomas Powles, ” Powles, we’ve, —, Powles, Toni Choueiri, Dana, “, enfortumab, ” Choueiri, drugmaker Janssen, Dr, Sanjay Gupta, nivolumab, Matthew Galsky Organizations: CNN, Society for Medical Oncology, University of London, Barts Cancer, US, Inc, Astellas Pharma, Merck, Co, Food and Drug Administration, FDA, EMA, Lank, Genitourinary Oncology, Farber Cancer Institute, ESMO, New England, of Medicine, University of Texas, Anderson Cancer Center, US Food and Drug Administration, National Library of Medicine, CNN Health, Bristol Myers Squibb, Ono Pharmaceutical Company, Cancer, The Tisch Cancer Institute Locations: Madrid, United Kingdom, United States, Europe, Mount Sinai

☆ Starboard may be poised to build value amicably at contract research firm Fortrea
▼ + stars: | 2023-10-21 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

CROs work with drug companies through all stages of the drug development process, from drug discovery and preclinical development to Phase I through IV post-approval work. With a material portion of that outsourced, the CRO industry has grown accordingly. So, there are strong secular tailwinds driving growth for the CRO industry, but to be a successful contract research organization, it helps to have global scale. With peer margins and peer multiples, Starboard sees this as a $47 to $72 stock. Elliott Management recently partnered with Patient Square Capital and Veritas Capital to acquire Fortrea peer Syneos Health Inc (SYNH) for $7.1 billion.

Persons: Covance, Fortrea, Tom Pike, Pike, Elliott, Ken Squire Organizations: Fortrea, Labcorp, Development, Elliott Management, Square, Veritas Capital, Inc, pharma, 13D, Fortrea Holdings Locations: Covance, Labcorp, Fortrea

Tokyo CNN —China has formally arrested a Japanese man who was detained in March, according to officials from Japan’s Ministry of Foreign Affairs (MOFA) and the Japanese Embassy in Beijing. The arrest of the Japanese national, who was reportedly an employee of a Tokyo-based pharmaceutical firm, could further rattle foreign businesses in China, which have reported feeling more unsettled this year amid a crackdown on international consulting firms on national security grounds. According to Japanese public broadcaster NHK, the man was an employee of drugmaker Astellas Pharma and was detained in March by Chinese security authorities in Beijing on suspicion of violating the country’s criminal law and anti-espionage law. In May, state security authorities said they had raided several offices of Capvision, an advisory network. The issue has been cited as headache for foreign businesses, some of which were already having trouble convincing workers to relocate to China.

Persons: Hirokazu Matsuno, Japan’s MOFA, Mao Ning, “, ”, Weeks, Bain, — CNN’s Michelle Toh, Sophie Jeong, Mengchen Zhang Organizations: Tokyo CNN, Japan’s Ministry of Foreign Affairs, Embassy, NHK, drugmaker, Pharma, CNN, Foreign Ministry, Ministry of State Security, Mintz Group, American Chamber of Commerce, China’s Commerce Ministry, State Administration of Foreign Exchange Locations: China, Tokyo, Beijing, MOFA, Shanghai, Hong Kong

☆ UBS upgrades this biopharma giant with an underappreciated treatment pipeline
▼ + stars: | 2023-10-20 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Investors may not be fully pricing in Merck 's strong treatment pipeline, according to UBS. Analyst Trung Huynh expects that "underappreciated pipeline readouts" will be the primary contributor to multiple expansion for the company. Huynh also noted that investors continue to underestimate the value of two key Merck treatments: Keytruda — used in cancer immunotherapy — and Gardasil, a vaccine targeting HPV. The analyst added that these two treatments and other underappreciated catalysts have all contributed to Merck's above-peer growth profile. The upgrade comes after the Food and Drug Administration approved the use of Keytruda for treatment with "platinum-containing chemotherapy as neoadjuvant treatment " on Monday.

Persons: Trung Huynh, Huynh, —, Michael Bloom Organizations: Merck, UBS, Food and Drug Administration Locations: China

☆ China Arrests Japanese Executive Despite Tokyo’s Appeals
▼ + stars: | 2023-10-19 | by ( Miho Inada | ) www.wsj.com time to read: 1 min

The arrested Astellas Pharma executive disappeared in late March. Photo: Akio Kon/Bloomberg NewsTOKYO—China formally arrested a Japanese pharmaceutical executive who had been detained since March, Tokyo said Thursday, in a move likely to further chill business travel to the nation. Hirokazu Matsuno , Japan’s chief cabinet secretary, said the Astellas Pharma executive, whom China has previously identified as Hiroshi Nishiyama , was arrested in mid-October. Matsuno said Tokyo had made strong appeals to Beijing for the early release of the executive and would continue doing so.

Persons: Astellas, Akio Kon, Hirokazu, Hiroshi Nishiyama, Matsuno Organizations: Astellas Pharma, Bloomberg News TOKYO Locations: China, Tokyo, Beijing

☆ Royalty Pharma to pay $1 bln for Roche's SMA drug royalties
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland February 1, 2018. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 19 (Reuters) - Royalty Pharma (RPRX.O) said on Thursday it has purchased additional royalties on Roche (ROG.S) and PTC Therapeutics' (PTCT.O) oral spinal muscular atrophy (SMA) drug for an upfront payment of $1 billion. Spinal muscular atrophy, a leading genetic cause of infant deaths, prevents the body from producing a protein necessary for neuromuscular development. The deal also includes options for PTC to sell up to all of its retained royalties on Evrysdi for up to $500 million at a later date, Royalty Pharma said. Royalty Pharma expects to fund the transaction with a combination of existing cash and about $350 million from its revolving credit facility.

Persons: drugmaker Roche, Arnd, Roche, Mariam Sunny, Shilpi Majumdar Organizations: REUTERS, Royalty Pharma, PTC Therapeutics, U.S . Food, Drug Administration, PTC, Thomson Locations: Basel, Switzerland, Bengaluru

☆ Pro Take: Making Medicines Greener
▼ + stars: | 2023-10-19 | by ( Cecilia Butini | ) www.wsj.com time to read: +6 min

Photo: mohamed hossam/ShutterstockMaking and supplying medicines generates roughly a third of the global healthcare industry’s greenhouse-gas emissions. Photo: Carlos Jasso/Bloomberg NewsBritish drugmaker GSK , for instance, plans to run on 100% renewable electricity by 2025 and to reach net-zero emissions across its value chain by 2045. GSK partnered with AstraZeneca , Merck KGaA, Novo Nordisk , Roche Holding , Samsung Biologics and Sanofi to form the SMI Health Systems Task Force in 2021. Last year, the partnership decided to strengthen their collaboration by focusing on cutting emissions in the near term and transitioning faster toward net-zero health systems. Novartis aims to achieve net-zero emissions across its value chain by 2040.

Persons: mohamed hossam, Carlos Jasso, “ We’ve, ”, Mike Peirce, Aurelio Arias, Arias, Claire Lund, Sanofi, Annabelle Harreguy, IQVIA’s Arias, “ It’s, ” Arias, Cecilia Butini Organizations: Pharmaceutical, Pharma, GSK, Bloomberg News British, Climate Group, Climate, Business, Sustainable Markets, Health Systems, Force, AstraZeneca, Merck KGaA, Novo Nordisk, Roche Holding, Samsung Biologics, Sanofi, SMI, Systems, Novartis, World Health Organization, cecilia.butini@wsj.com Locations: GSK’s, China, India, Novo

☆ EU Commission fines pharma companies for price fixing
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, Oct 19 (Reuters) - The European Commission on Thursday said it had fined five pharmaceutical companies for a total of 13.4 million euros ($14.1 million) in a settlement of an antitrust investigation. The commission fined Alkaloids of Australia, Alkaloids Corporation, Boehringer, Linnea and Transo-Pharm for participating in a cartel aimed at fixing the minimum price of an ingredient to produce the abdominal antispasmodic drug Buscopan and its generic versions. ($1 = 0.9489 euros)Reporting by Bart Meijer, Editing by Charlotte Van CampenhoutOur Standards: The Thomson Reuters Trust Principles.

Persons: Bart Meijer, Charlotte Van Campenhout Organizations: European, Corporation, Boehringer, Thomson Locations: BRUSSELS, Australia

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