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☆ Stocks making the biggest moves premarket: Pfizer, CVS, Amazon, Starbucks and more
▼ + stars: | 2024-05-01 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Pfizer — Shares climbed more than 2% after New York City-based Pfizer beat Wall Street's first-quarter revenue forecast and raised its full-year profit guidance. CVS expects adjusted earnings of at least $7 per share for 2024, down from previous guidance of $8.30 per share. Analysts were expecting $8.28 per share, according to LSEG. A second-quarter revenue forecast also surpassed expectations, with Pinterest forecasting sales of $830 million to $850 million vs an LSEG consensus estimate of $827 million. Fiscal third-quarter revenue of $3.85 billion missed the Street's consensus estimate of $3.95 billion, according to LSEG.

Persons: Wall, Marriott, Estée Lauder, Estee Lauder, LSEG –, Kraft Heinz —, Powell, Macheel, Alex Harring, Sarah Min, Michelle Fox Organizations: Pfizer —, New, Pfizer, CVS, Marriott, LSEG, Starbucks, AMD —, AMD, Yum, KFC, Taco Bell, Powell Industries Locations: New York City, LSEG, Houston

☆ Stocks making the biggest moves midday: Super Micro Computer, Starbucks, Pfizer and more
▼ + stars: | 2024-05-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Super Micro Computer — The server vendor dropped 15% after missing revenue expectations for its fiscal third quarter. However, Super Micro beat analysts' expectations for its adjusted earnings and hiked its revenue guidance for its fiscal 2024 year. Starbucks posted adjusted earnings of 68 cents per share on revenue of $8.56 billion. Pfizer now expects adjusted earnings of $2.15 to $2.35 per share for the full year, higher than its previous forecast of $2.05 to $2.25 per share. Yum Brands — The fast-food giant lost nearly 4% after it reported quarterly adjusted earnings and revenue that missed analysts' expectations.

Persons: Joseph Otting, —, Cowen, Skyworks, SiriusXM, Goldman Sachs, Powell, Estée Lauder —, Estée Lauder, Kraft Heinz, Pinterest's, Alex Harring, Yun Li, Lisa Kailai Han, Hakyung Kim, Michelle Fox Organizations: New York Community Bank, Super Micro, Starbucks, Pfizer, Apple, Amazon Web Services, CVS, Powell Industries, Wall, LSEG, Brands, KFC, Pizza, Taco, JPMorgan Locations: Houston, Taco Bell's

☆ S&P 500 futures fall as Wall Street braces for Fed rate decision: Live updates
▼ + stars: | 2024-04-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

S&P 500 futures slipped Tuesday night as investors looked ahead to the Federal Reserve's rate policy decision. Futures linked to the broad market index slipped 0.22%, while Nasdaq 100 futures dropped 0.42%. During Tuesday's main trading session, the Dow and S&P 500 both shed more than 1%. Bond yields jumped after the first quarter's employment cost index came in higher than anticipated, reigniting worries that the Fed will keep interest rates high. "The concern is that the Fed will definitely be slower to lower interest rates," said CFRA chief investment strategist Sam Stovall.

Persons: reigniting, Dow, Jerome Powell, Sam Stovall, Kraft Heinz, DoorDash Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Amazon, Dow, Traders, Fed, Pfizer, Kraft, CVS Health, Qualcomm Locations: New York City

☆ Earnings playbook: Your guide to the busiest week of the season, including Apple and Amazon
▼ + stars: | 2024-04-28 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

It's the busiest week of the earnings season, and it could have major consequences for the stock market. This quarter: The fast-food giant is expected to report single-digit earnings and revenue growth from the year-earlier period, LSEG shows. Amazon is set to report earnings after the close. What history shows: Pfizer earnings beat earnings expectations 87% of the time, per Bespoke. Thursday Apple is set to report earnings after the bell.

Persons: Jeffrey Bernstein, Bernstein, JPMorgan's Andrea Teixeira, Teixeira, AMZN, Joseph Feldman, Feldman, AAPL, —, Apple Organizations: Apple, Pfizer, IBM, CNBC, Barclays, Investment, Management, AWS, Amazon, pharma, Food and Drug Administration, UBS Locations: China

☆ Comeback candidates: Goldman loves these underperforming stocks with strong fundamentals
▼ + stars: | 2024-04-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Stocks that have missed out on this year's market rally could be solid contenders for a rebound, according to Goldman Sachs. Heading into the second quarter, Goldman searched for buy-rated names in its coverage universe that could win big going forward. Goldman screened for "compounders," which offer investors high financial returns, free cash flow generation, margin expansion and sales growth. Most analysts covering the stock currently have a buy rating assigned to the name, with about 39% upside to the consensus price target, per LSEG. Pfizer stock has slipped 9% this year.

Persons: Goldman Sachs, Goldman, Dan Levy, Levy, Guggenheim, Vamil Divan, Lamb Weston, Jefferies, Rob Dickerson Organizations: Barclays, Pfizer Locations: U.S

☆ Stocks making the biggest moves premarket: American Eagle Outfitters, Ally Financial, Molson Coors Beverage and more
▼ + stars: | 2024-04-09 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines before the bell: American Eagle Outfitters — Shares popped 4% following an upgrade by JPMorgan to overweight from neutral. Freeport-McMoRan — Shares jumped 1.9% after Bank of America upgraded the American mining company to buy from neutral, saying it has "blue chip copper exposure." Molson Coors — Shares gained 1.9% after Goldman Sachs upgraded the brewing company to buy, saying the company can benefit as it expands its shelf space in retailers. Ally Financial — The financial services company added nearly 2% after being upgraded to buy from neutral at Bank of America. The bank's analysts believe Ally Financial may see higher earnings than anticipated, less earnings volatility and that its potential credit leverage may be underestimated.

Persons: Molson, Goldman Sachs, Ally, — CNBC's Michelle Fox Organizations: Eagle Outfitters, JPMorgan, Bank of America, Molson Coors —, Ally, Google, Pfizer Locations: Freeport

☆ Stocks making the biggest moves midday: Boeing, Norfolk Southern, Nvidia & more
▼ + stars: | 2024-04-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

BlackBerry — BlackBerry shares popped more than 9% after the company announced a partnership with Advanced Micro Devices on robotics systems. Neogen Corp — The food safety stock shed 9% after the company reported a surprise loss of 1 cent per share. The company also trimmed its previous guidance, saying it now expects revenue to range between $920 million and $910 million for the full year. Norfolk Southern announced that it reached a $600 million settlement related to its derailment in East Palestine. Nvidia — Shares fell more than 2%, putting the chipmaker on track for its fifth losing session in six.

Persons: Tilray, FactSet, Goldman Sachs, Molson Coors, Molson, — CNBC's Michelle Fox, Sarah Min, Pia Singh, Yun Li Organizations: Moderna, Reuters, Merck, Boeing, New York Times, Google, American Eagle Outfitters, JPMorgan, Eagle Outfitters, Bank of America, EV, Molson, Pfizer, Neogen Corp, Norfolk Southern, Nvidia —, Netflix Locations: East Palestine

☆ Forget Nvidia: Here are four stocks one investor is betting on instead
▼ + stars: | 2024-03-26 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +6 min

Instead, the veteran wealth manager is now looking for stocks in growth sectors that look "reasonably valued." He said the pharmaceutical, real estate, energy and financial sectors were on his radar, and named four stocks that stand out. Pfizer Pharmaceutical company Pfizer — well known for its Covid-19 vaccine — is betting on cancer drugs , following its $43 billion acquisition of Seagen last year . Over the last 12 months, shares of Comerica are up around 28%, although they are down 7.5% year-to-date. According to Factset data, analysts' average price target on the stock is $59.45, giving it around 15% potential upside.

Persons: David Dietze, Dietze, —, Schlumberger —, Dietze's, SLB Organizations: Nvidia, Wealth Management, Pfizer Pharmaceutical, Pfizer, CNBC Pro, Schlumberger, Comerica Locations: Seagen, U.S, SLB, Canada

☆ CNBC Daily Open: A mixed picture on U.S. jobs growth
▼ + stars: | 2024-03-11 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. stocks retreatWall Street finished Friday's session lower as investors look ahead to key inflation data due out this week. Japan skirts technical recessionJapan avoided a technical recession as revised fourth-quarter data revealed the economy returned to growth. "My famous topless sports massage was all about showing our culture, to be honest, that we had such a flexible culture," the Malaysian businessman told CNBC.

Persons: Tony Fernandes, Tasha Keeney Organizations: Grand Central Market, CNBC, Wall, Nasdaq, Dow, Gross, AirAsia, Pfizer Locations: Los Angeles , California, U.S, Japan, Malaysian

☆ Pfizer is betting big on cancer drugs to turn business around after Covid decline – here's what to know
▼ + stars: | 2024-03-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +13 min

Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. That $43 billion Seagen acquisition doubled Pfizer's oncology drug pipeline to 60 different experimental programs. Some analysts noted that it might take a few years for some of Pfizer's cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky. Revenue from the blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi, which Pfizer shares with Astellas Pharma, has declined over the past year. They are among the most expensive prescription drugs in the U.S. Before the Seagen deal, 94% of Pfizer's cancer products were small-molecule drugs.

Persons: Wall, Seagen, Chris Boshoff, Boshoff, David Ryder, Trung Huynh, Joe Biden's, Chris Schott, Suneet Varma, RemeGe, Merck, Padcev, Guggenheim, Pfizer's, Pfizer hasn't, Dr, Mikael Dolsten, Irfan Khan Organizations: Nurphoto, Getty, Pfizer, Astellas Pharma, Guggenheim, Bloomberg, UBS, Medicare, Drug Administration, FDA, ADC, JPMorgan, Drugs, CNBC, CVS Pharmacy, Los Angeles Times Locations: Covid, Bothell , Washington, U.S, biologics, China, Eagle Rock , California

☆ Right-wing media targets Taylor Swift with Super Bowl conspiracy theory ahead of the Super Bowl
▼ + stars: | 2024-01-30 | by ( Oliver Darcy | Andrew Kaczynski | ) edition.cnn.com time to read: +5 min

New York CNN —Right-wing media is burning red at Taylor Swift. “Taylor Swift is an op,” Benny Johnson, a right-wing media personality who boasts millions of followers across different social media platforms, wrote on X. You’re being played.”“The Democrats’ Taylor Swift election interference psyop is happening in the open,” added Laura Loomer, a self-described Islamophobe who has been embraced and promoted by Trump. “It’s not a coincidence that current and former Biden admin officials are propping up Taylor Swift and Travis Kelce. They are going to use Taylor Swift as the poster child for their pro-abortion GOTV Campaign.”“The NFL is totally RIGGED for the Kansas City Chiefs, Taylor Swift, Mr. Pfizer (Travis Kelce),” agreed Mike Crispi, a Salem Media host.

Persons: Taylor Swift, Joe Biden, Swift, Jesse Watters, Travis Kelce, Biden, ” Vivek Ramaswamy, ” Ramaswamy, Jack Posobiec, Roseanne Barr, Posobiec, ” Donald Trump, Barr, “ Taylor Swift, ” Benny Johnson, You’re, ” “, ’ Taylor Swift, ”, Laura Loomer, “ It’s, “, Mike Crispi, ‘, ’ Joe Biden, Kelce, ” Crispi, drivel, Jared Holt, ” Holt, they’re Organizations: New York CNN, Kansas City Chiefs, Media, NFL, Democratic Party, Fox News, Pentagon, Chiefs, Pfizer, The New York Times, Super, Trump, Biden, Salem Media, KC, MAGA Media, Republican Party Locations: New York, Salem

The New York drugmaker also said Tuesday it's reaffirming its forecast for 2024, a month after surprising Wall Street with an initial outlook that missed consensus. In the fourth quarter, Pfizer said it booked 8% operational revenue growth outside its market-leading COVID vaccine, Comirnaty, and treatment, Paxlovid. Comirnaty sales tumbled 53% in the quarter to $5.4 billion, and Pfizer took a $3.1 billion hit from Paxlovid for a revenue reversal. It included sales expectations for its COVID-19 products that fell more than $5 billion short of expectations. The company had previously scaled back its sales expectations for 2023, which sent Pfizer shares plunging and contributed to a rough year for the stock.

Persons: Pfizer, York drugmaker, it's Organizations: Pfizer, Pfizer Inc Locations: York

☆ Stocks making the biggest moves premarket: UPS, General Motors, Whirlpool, Spotify and more
▼ + stars: | 2024-01-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Pfizer reported adjusted earnings of 10 cents per share, while analysts polled by LSEG expected a loss of 22 cents per share. On the other hand, the company's $14.25 billion revenue was lower than the $14.42 billion consensus estimate. Revenue came in at $24.92 billion versus the $25.43 billion expected from analysts polled by LSEG. F5 — Shares jumped 8% after the cybersecurity company reported an earnings and revenue beat in the fiscal first quarter. The manufacturing services provider reported earnings of $1.30 per share, better than the $1.15 earnings per share forecast from analysts polled by FactSet.

Persons: Batya Levi, Pfizer, LSEG, Jefferies, Sanmina, — CNBC's Michelle Fox, Hakyung Kim, Tanaya Macheel, Sarah Min, Jesse Pound Organizations: UBS, Pfizer, Oppenheimer, United Parcel Service, LSEG, General Motors, GM, JetBlue Airways —, Whirlpool —, FactSet Locations: Masimo, FactSet .

☆ Daily Multivitamin Might Help Aging Brains
▼ + stars: | 2024-01-18 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +5 min

By Dennis Thompson HealthDay Reporter(HealthDay)THURSDAY, Jan. 18, 2024 (HealthDay News) -- A daily multivitamin could help people keep their brains healthy as they age, a new trial finds. Results suggest taking multivitamins could help prevent memory loss and slow cognitive aging among older adults, researchers report in the Jan. 18 issue of the American Journal of Clinical Nutrition. The effect was measurable: A daily multivitamin slowed brain aging by the equivalent of two years compared to placebo. “Cognitive decline is among the top health concerns for most older adults, and a daily supplement of multivitamins has the potential as an appealing and accessible approach to slow cognitive aging,” he said. It looked at whether a special cocoa extract supplement, a daily multivitamin (in this case Centrum Silver) or both might help boost health.

Persons: Dennis Thompson, Dr, Richard Caselli, “, Chirag, ”, ” Yvas, Olivia Okereke, Preventive Medicine Howard Sesso, Zaldy Tan, ” Tan, Caselli, Sesso, Brigham Organizations: American, Clinical Nutrition, Mayo Clinic, NBC News, Chirag Vyas, Massachusetts General Hospital’s Department of Psychiatry, Cocoa, Massachusetts General Hospital, MGH, Brigham, Women’s Hospital, Columbia University, Wake Forest University, National Institutes of Health, Mars Inc, Pfizer, COSMOS, Women’s, Preventive Medicine, Council for Responsible Nutrition, Cleveland Clinic, NBC Locations: Arizona, Massachusetts, multivitamins, Jona, Los Angeles

☆ 4 stock ideas I brought back from the JPMorgan Healthcare Conference and everything else I learned about the industry
▼ + stars: | 2024-01-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

We will go over them – but first, let me talk about what I learned at last week's JPMorgan Health Care Conference that I attended in San Francisco, and what it means to your portfolio. We know health care has a lot of angles too it. The previous CEO Roz Brewer was from Starbucks and struggled with the role that Walgreens plays in health care. You have to be following the transformation of Bristol-Myers, which is opening its wallet to buy a host of drug companies, including anti-psychotic firm Karuna. Health care is the way to go.

Persons: Regeneron, Pfizer, Eli Lilly, Dave Ricks, Lilly, donanemab, Lilly's, Zepbound, it's, Abbott, It's, Roche, Merck, Myers, ABT, Robert Ford, Tim Wentworth, He's, Roz Brewer, Wentworth, he'll, Brewer wasn't, Bob Bradway, Amgen, Vas Narasimhan, Sandoz, Karuna, Medtronic, Hugo, Morgan Stanley, Wells, Covid, Cramer's, Jim Cramer, Jim, Las Vegas Brendan Smialowski Organizations: Abbott Labs, Covid, Novartis, Amgen, Walgreens Boots Alliance, JPMorgan Health Care Conference, Humana, Drug Administration, Novo Nordisk, Dickinson Co, Bristol, Myers Squibb, Pfizer, Department, WBA, Walgreens, Starbucks, -, pharma, Merck, Keytruda, Horizon Therapeutics, Federal Trade Commission, Myers, BD, CVS Health, JPMorgan, Cramer's Charitable, CNBC, Consumer, AFP, Getty Locations: San Francisco, GLP, North Carolina, Europe, Cencora, Amgen, West, Bristol, Target, Las Vegas

☆ Pfizer's twice-daily weight loss pill joins a long list of obesity drug flops
▼ + stars: | 2023-12-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

That includes Novo Nordisk 's Wegovy and diabetes treatment Ozempic as well as Eli Lilly 's diabetes drug Mounjaro. They have all skyrocketed in popularity — and slipped into shortages — over the last year for safely and successfully causing significant weight loss. But before the current weight loss industry gold rush, the path to treating obesity was strewn with failures dating back decades. In its full-year 2019 earnings, Eisai reported that Lorcaserin had sales of $28.1 million in the U.S. for the year. Sanofi's rimonabantAn obesity drug called rimonabant from Sanofi and Aventis was withdrawn from all markets in 2008 due to the risk of serious psychiatric problems, including suicide.

Persons: Eli Lilly, drugmakers, lorcaserin, Eisai, Lorcaserin Organizations: Getty, Pfizer, Novo Nordisk, U.S, Drug Administration, FDA, Aventis, Abbott Laboratories Locations: U.S, Sanofi

Pfizer shares sank Friday when the drugmaker said it would abandon a twice-daily obesity treatment after more than half the patients in a clinical trial stopped taking it. But Novo and Pfizer are also trying to develop pill versions that would be easier for patients to take. Pfizer said it saw patient discontinuation rates topping 50% across all doses in a mid-stage study of twice-daily danuglipron. It ranged from nearly 7% to more than 11% in patients taking the pills. By comparison, obese patients without diabetes lost about 18% of their weight compared to a placebo when taking taking Eli Lilly’s Zepbound in late-stage research.

Persons: Eli Lilly, Eli Lilly’s Zepbound, Mikael Dolsten Organizations: Pfizer, Novo Nordisk, Novo, Drug Administration, Pfizer Inc Locations: York

☆ Stocks making the biggest moves premarket: Pfizer, Disney, Tesla, Alibaba and more
▼ + stars: | 2023-12-01 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Pfizer — Shares dropped 4.2% after the drugmaker said it would halt development of its twice-daily experimental weight loss pill. Marvell Technology — The semiconductor stock fell more than 5% after Marvell issued lower-than-expected revenue guidance for the fourth quarter. Ulta Beauty — The stock gained nearly 12% after the beauty products retailer reported third-quarter earnings that beat analysts' expectations. Ulta reported earnings of $5.07 per share, higher than the $4.95 per share analysts polled by LSEG were expecting. Dell — Stock in the computer maker fell nearly 6% on the heels of a mixed third-quarter earnings report.

Persons: Pfizer, Andrew Nowinski, Nelson Peltz, Alibaba, Morgan Stanley, Tesla, Coinbase, Ulta, LSEG, Jessica Fye, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: Pfizer —, Paramount Global, Wall Street Journal, Apple, Disney —, Trian Fund Management, Marvell Technology, Marvell, Invest, Nasdaq, Dell —, Wall, LSEG, JPMorgan Locations: —, Wells Fargo

☆ Why investors should stick with Eli Lilly
▼ + stars: | 2023-12-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. The treatment — which Jim Cramer has said could become the greatest-selling drug of all time — received approval from the U.S. Food and Drug Administration last month, bolstering Eli Lilly shares. 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.

Persons: Jim Cramer, Bond, Jerome Powell, Goldman Sachs, STZ, Eli Lilly, —, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Treasury, Federal, Club, Constellation Brands, Pfizer, U.S . Food, Drug Administration Locations: U.S

☆ Stocks making the biggest moves midday: Tesla, Disney, Alibaba, Ulta Beauty and more
▼ + stars: | 2023-12-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Ulta Beauty — The beauty stock rallied nearly 11% after posting third-quarter results that surpassed analysts' estimates. Samsara — Samsara shares popped 16% after the cloud company posted better-than-expected quarterly results and shared stronger-than-expected guidance. The chip company posted third-quarter earnings that topped Wall Street's estimates but shared weaker-than-expected guidance for the current quarter. Ambarella — Shares slipped 1% after Ambarella reported third-quarter gross margins of 62.6%, down from 63.5% in the year-ago period. Otherwise, the semiconductor design company posted quarterly results that topped estimates.

Persons: Tesla, Nelson Peltz, Alibaba, Morgan Stanley, Wells, Dell, Altimmune, Ambarella, Jefferies, Yun Li, Michelle Fox, Sarah Min, Alex Harring, Brian Evans, Jesse Pound Organizations: Disney — Disney, Trian Fund Management, Pfizer, Paramount Global, Street Journal, Paramount, Apple, Marvell Technology, Invest, Nasdaq, Dell —, LSEG, JPMorgan, Norfolk Southern, Bank of America, CSG Locations: Texas, China, Wells Fargo, Norfolk, Ohio

☆ Why Pfizer's latest stumble in the obesity market is a boon for Eli Lilly
▼ + stars: | 2023-12-01 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

In June, the New York-based pharmaceutical giant stopped developing a different obesity pill, known as lotiglipron , due to concerns about liver safety. Meanwhile, Eli Lilly shares were mainly flat in afternoon trading, at around $591apiece. We lifted our Eli Lilly price target Friday to $630 per share, up from $600. Eli Lilly and Danish rival Novo Nordisk (NVO) are the two dominant players in the obesity market. The longer it takes for competitors to get to this burgeoning market, the more revenue first-movers Eli Lilly and Novo Nordisk can capture.

Persons: Eli Lilly, Jim Cramer, Lilly's, Novo's, Jim, Eli Lilly —, —, Eli, that's, — Novo's, Novo, semaglutide, Jim Cramer's, AJ Mast Organizations: Pfizer, Club, Novo Nordisk, Pharmaceutical, Amgen, AstraZeneca, Bank of America, U.S . National Library of Medicine, U.S . Food, Drug Administration, CNBC, Bloomberg, Getty Locations: New York, Danish, Lilly, U.S, Indianapolis , Indiana

☆ AbbVie to buy cancer drugmaker ImmunoGen for $10 billion as Humira faces heat
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brian Snyder/File Photo Acquire Licensing RightsNov 30 (Reuters) - AbbVie (ABBV.N) will buy ImmunoGen (IMGN.O) for $10.1 billion in cash, it said on Thursday, the latest major drugmaker to buy a developer of 'guided missile' cancer therapies as the company's top-seller Humira grapples with fierce competition. ImmunoGen's Elahere belongs to a new class of treatments called antibody-drug conjugates (ADC) that precisely targets cancer cells, potentially reducing toxicity for other cells. The drug, approved for ovarian cancer patients who have received previous therapies, is also being tested in earlier lines of treatment. AbbVie will also get access to Immunogen's follow-on pipeline of ADCs, including early-stage ovarian cancer candidate IMGN-151 and a mid-stage drug pivekimab sunirine for a rare type of blood cancer. Meanwhile, AbbVie's cancer drugs sales declined more than 8% in the third quarter to $1.51 billion, primarily due to increased competition to Imbruvica.

Persons: Brian Snyder, ImmunoGen's Elahere, AbbVie, IMGN, pivekimab, Immuogen stock's, Immunogen's, Elahere, Imbruvica, Manas Mishra, Leroy Leo, Shinjini Ganguli Organizations: REUTERS, Pfizer, Merck, U.S, Thomson Locations: Cambridge , Massachusetts, U.S, Bengaluru

☆ Covid vaccine rates in the U.S. are slumping — and it will be a challenge to boost them
▼ + stars: | 2023-11-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +10 min

In this article PFEMRNANVAX Follow your favorite stocks CREATE FREE ACCOUNTA sign advertises Covid vaccine shots at a Walgreens Pharmacy in Somerville, Massachusetts, on Aug. 14, 2023. Brian Snyder | ReutersThree years into the Covid-19 pandemic, few Americans are rolling up their sleeves to get a Covid vaccine. Experts and vaccine makers can agree that low Covid vaccination rates are concerning, even as cases of the virus dwindle from their pandemic highs. However, Iovine of the University of Florida doesn't believe combination shots will have a significant effect on Covid vaccination rates. If combination shots don't do the trick, it's unclear what else could boost Covid vaccination rates down the line.

Persons: Brian Snyder, Ali Mokdad, Mokdad, Irfan Khan, Jennifer Kates, Brad Pollock, Nicole Iovine, epidemiologist, Iovine, Michael Yee, Albert Bourla, Arpa Garay, Garay, John Trizzino, Trizzino, Jamey Mock, Andrew Pekosz, Jefferies, Yee, doesn't Organizations: Walgreens, Reuters, Pfizer, Moderna, Centers for Disease Control, CDC, University of Washington, CVS Pharmacy, Los Angeles Times, KFF, UC Davis Health's, University of Florida, Jefferies, Arpa, CNBC, Istock, Getty, Johns Hopkins Bloomberg School of Public Health Locations: Somerville , Massachusetts, U.S, Novavax, Covid, Eagle Rock , California

[1/4] Employees work in the manufacturing of Pfizer’s new respiratory syncytial virus (RSV) vaccine Abrysvo, in this undated handout picture. Pfizer/Handout via REUTERS Acquire Licensing RightsWASHINGTON, Nov 28 (Reuters) - Senior Biden administration officials met with RSV vaccine makers this week to underscore the need for manufacturers such as Sanofi (SASY.PA) and AstraZeneca (AZN.L) to urgently meet demand as winter approaches, the White House said on Tuesday. At a meeting at the White House on Monday, officials and manufacturers also agreed to plan now to meet next year's demand for the vaccines targeting respiratory syncytial virus, which generally causes mild, cold-like symptoms but can develop into severe illness in infants and older adults. "Monday's meeting follows numerous in-person and virtual meetings to seek ways manufacturers can make more RSV immunizations available for infants," the White House said in a statement. Reporting by Susan Heavey and Ahmed Aboulenein; Additional reporting by Mike Erman; Editing by Katharine Jackson and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Susan Heavey, Ahmed Aboulenein, Mike Erman, Katharine Jackson, Nick Zieminski Organizations: Pfizer, Handout, REUTERS Acquire, Rights, Biden, Sanofi, AstraZeneca, White, U.S . Centers for Disease Control, Prevention, CDC, Thomson Locations: U.S

☆ Pfizer to cut 500 jobs at UK site as part of wider cost cuts
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Pfizer company logo is seen at a Pfizer office in Puurs, Belgium, December 2, 2022. REUTERS/Johanna Geron/ File Photo Acquire Licensing RightsNov 14 (Reuters) - Pfizer (PFE.N) will cut 500 jobs at its Sandwich, Kent site in the U.K. as part of its $3.5 billion cost-cutting plan, the drugmaker said on Tuesday. The U.S. drugmaker announced the cost-cutting program in October after slashing its full-year revenue forecast due to lower-than-expected sales of its COVID-19 vaccine and treatment. Pfizer, which employs roughly 83,000 people globally, has not disclosed how many jobs will be affected by the cost-reduction program. The company said on Tuesday it would share further details on the program as part of the full-year forecast for 2024.

Persons: Johanna Geron, drugmaker, Christy Santhosh, Shailesh Kuber Organizations: Pfizer, REUTERS, Thomson Locations: Puurs, Belgium, Sandwich, Kent, U.S

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