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☆ Pfizer wants in on the weight loss drug market – and upcoming data will be crucial for its success
▼ + stars: | 2023-11-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

As its Covid gains evaporate, Pfizer wants a chunk of the budding weight loss drug market. Those companies helped spark the weight loss drug industry gold rush over the last year with their weekly obesity and diabetes injections, such as Novo Nordisk's Wegovy and Ozempic and Eli Lilly's Mounjaro. They want to see the drug cause a similar level of weight loss as a once-daily pill from Eli Lilly. "If Pfizer's data is positive, then I think people might be able to look beyond all this Covid overhang," Cantor Fitzgerald analyst Louise Chen told CNBC. A weight loss pill could be a boon for all three companies.

Persons: Eli Lilly, Eli Lilly's Mounjaro, Albert Bourla, –, Cantor Fitzgerald, Louise Chen Organizations: Pfizer, Novo Nordisk, Nordisk's Wegovy, CNBC

☆ Never Mind Covid, Investors Want a Pfizer Obesity Pill
▼ + stars: | 2023-10-31 | by ( David Wainer | ) www.wsj.com time to read: +1 min

Pfizer says it hasn’t gotten the data on its experimental oral obesity medication. It is little wonder, then, that investors were hoping Pfizer could jump to the winning camp with an obesity pill. But the company’s silence on its experimental oral medication, danuglipron, during its earnings release Tuesday, is worrying Wall Street. “Not one mention [of danuglipron] in the prepared remarks from Pfizer,” noted Will Sevush , a healthcare strategist for Jefferies. Before today’s earnings, David Risinger , a Leerink Partners analyst, had written that Pfizer might even release data from its midstage study alongside the earnings results as soon as Tuesday.

Persons: hasn’t, Gabby Jones, Eli Lilly, ”, Will Sevush, Jefferies, David Risinger, Albert Bourla, TD Cowen, Steva Scala Organizations: Pfizer, The Wall, Novo Nordisk, Moderna, Partners

☆ We are keen to join forces with Seagan, says Pfizer CEO Albert Bourla
▼ + stars: | 2023-10-31 | by ( Jim Cramer | ) 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 are keen to join forces with Seagan, says Pfizer CEO Albert BourlaPfizer Chairman and CEO Albert Bourla joins 'Mad Money' host Jim Cramer to talk Q3 earnings results, partnering with Kansas City Chiefs Tight End Travis Kelce, acquiring BioHaven and more.

Persons: Seagan, Albert Bourla, Jim Cramer, Travis Kelce Organizations: Pfizer, Albert Bourla Pfizer, Kansas City Chiefs

Paxlovid, Pfizer's anti-viral medication to treat the coronavirus disease (COVID-19), is displayed in this picture illustration taken October 7, 2022. Sales of Paxlovid and the vaccine Pfizer makes with German partner BioNTech (22UAy.DE) had boosted revenue to record levels the last two years. Reuters GraphicsPfizer continues to expect 2023 revenue growth of 6%-8% from non-COVID products, with a majority occurring in the second half. Paxlovid sales slumped 97% in the third quarter to $202 million, while vaccine revenue of $1.31 billion was down from $4.4 billion a year earlier. Analysts had expected $1.44 billion for the vaccine and $618.20 million from Paxlovid, according to LSEG data.

Persons: Wolfgang Rattay, Evan Seigerman, BioNTech, Albert Bourla, Angela Hwang, Paxlovid, Bhanvi Satija, Michael Erman, Sriraj Kalluvila, Bill Berkrot Organizations: REUTERS, Pfizer, BMO Capital, Reuters Graphics Pfizer, GSK, CVS, Analysts, U.S ., Thomson Locations: Europe, Paxlovid, Bengaluru, New York

☆ Pfizer CEO Albert Bourla talks Q3 earnings results with Jim Cramer
▼ + stars: | 2023-10-31 | by ( Jim Cramer | ) 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 EmailPfizer CEO Albert Bourla talks Q3 earnings results with Jim CramerPfizer Chairman and CEO Albert Bourla joins 'Mad Money' host Jim Cramer to talk Q3 earnings results, partnering with Kansas City Chiefs Tight End Travis Kelce, acquiring BioHaven and more.

Persons: Albert Bourla, Jim Cramer Pfizer, Jim Cramer, Travis Kelce Organizations: Pfizer, Kansas City Chiefs

☆ 'We are really keen to join forces with Seagen': Pfizer CEO on plans to acquire cancer drugmaker
▼ + stars: | 2023-10-31 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Pfizer CEO Albert Bourla discussed his company's plans to acquire cancer drugmaker Seagen in a Tuesday interview with CNBC's Jim Cramer. "We are really keen to join forces with Seagen," Bourla said. "We are going to kill cancer." The company plans to acquire Seagen in a $43 billion deal, and Bourla said he is "optimistic" it will close by year-end or early next year. Seagen is known for its antibody-drug conjugate treatments, which aim to kill only cancer cells, not healthy ones.

Persons: Albert Bourla, CNBC's Jim Cramer, Bourla Organizations: Pfizer, Federal Trade Commission, European Commission, CNBC Locations: U.S

☆ Pfizer's combination Covid, flu vaccine will move to final-stage trial after positive data
▼ + stars: | 2023-10-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Pfizer on Thursday said its combination vaccine candidates targeting Covid and the flu will move to a final-stage trial in the coming months after showing positive initial results in an early to mid-stage study. Covid vaccine rates in the U.S. were bleak last year, and could look the same this year. The trial measured the safety, tolerability and efficacy of Pfizer's combination vaccine candidates among adults ages 18 to 64. The results showed that "lead" formulations of Pfizer's combination vaccine demonstrated robust immune responses to influenza A, influenza B and Covid strains, according to Pfizer. The safety profiles of the combination vaccine candidates were also consistent with the company's Covid vaccine.

Persons: BioNTech, Annaliesa Anderson, Pfizer's, Albert Bourla Organizations: Pfizer, BioNTech, Moderna Locations: U.S

Company bosses have vowed never to hire members of a university's student groups that condemned Israel. The fallout from the Israel-Hamas war has spilled into workplaces everywhere, as top leaders of prominent companies weigh in with their views while workers complain their voices are not being heard. Starbucks filed a lawsuit to stop Starbucks Workers United from using its name and a similar logo. Workers United, the parent union of Starbucks Workers United, responded with its own lawsuit saying Starbucks defamed the union by implying it supports terrorism. Starbucks Workers United tweeted a longer message on Friday denouncing Israel’s “occupation” and “threats of genocide Palestinians face” while also condemning antisemitism and Islamophobia.

Persons: Israel, J.P Morgan Chase, Goldman Sachs, Albert Bourla, Pfizer, ” Bourla, Paddy Cosgrave, “, David Marcus, Cosgrave, Jonathan Neman, Winston, Strawn, Isra, Abuhasna, Israel’s, Angela Berg, Perelaks, Berg, Julie Sweet, David, Allison Grinberg, Funes, didn't, ”, Grinberg, Dee, Ann Durbin Organizations: Starbucks, Company, Hamas, U.S, Google, Pfizer, Summit, Siemens, Intel, Harvard, New York University, Student Bar Association, Islamic Relations, Palestinian, Starbucks Workers, . Workers United, Starbucks Workers United, Accenture, Associated Press, Liberty Mutual, Israel . Liberty Mutual Locations: Israel, Gaza, Chicago, Palestinian American, U.S, Palestine, Boston, Funes

Vaccine makers are depending on the U.S. market as many countries have more limited yearly campaigns for giving updated shots. For BioNTech, Moderna, and Novavax (NVAX.O), COVID vaccines remain their only approved products. Shares of Pfizer were up nearly 5%, however, buoyed by a $3.5 billion cost-cutting plan the drugmaker announced late on Friday alongside its new COVID sales outlook. Moderna, in a statement on Monday, maintained its current revenue forecast of $6 billion to $8 billion for its COVID vaccine for 2023. Jefferies analyst Michael Yee said Pfizer's new COVID outlook implies lower vaccine sales for Moderna than it had forecast.

Persons: Dado, BioNTech, Albert Bourla, Bourla, Mani Foroohar, Foroohar, Jefferies, Michael Yee, Ludwig Burger, Rachel More, Michael Erman, Bhanvi Satija, Manas, Jonathan Oatis, Caroline Humer, Bill Berkrot Organizations: COVID, Institute for Health, Food, REUTERS, Pfizer, Moderna, Manas Mishra, Thomson Locations: Zenica, Bosnia, Herzegovina, Frankfurt, Novavax, U.S, New York, Bengaluru

"I just want to say how deeply saddened that we all are about the recent horrific attacks on Israel ... He warned that the war in Ukraine, compounded by the attacks on Israel, could have "far-reaching impacts on energy and food markets, global trade, and geopolitical relationships." On Friday, Citigroup CEO Jane Fraser included Israel in her opening remarks on the bank's earnings call. "Once someone ventures into the space of, 'who is the perpetrator and who is the victim,' you enter into the exposure of social media disinformation and risk," Kotok said. Some large companies including Apple (AAPL.O) and Walmart (WMT.N) had yet to issue statements, while some prominent personalities including NBA star LeBron James have spoken out.

Persons: JPMorgan Chase, Jamie Dimon, Albert Bourla, Jefferies, Michael Bloomberg, Goldman Sachs, Jane Fraser, Israel, Fraser, Larry Fink, David Kotok, Cumberland, Kotok, Antonio Neri, Andy Jassy, Sundar Pichai, Satya Nadella, LeBron James, Gigi Hadid, Lananh Nguyen, Aditya Soni, Stephen Nellis, Siddharth Cavale, David Gaffen, Arriana, Sayantani Ghosh, David Gregorio Our Organizations: JPMorgan, Pfizer, UBS, New York City, Bloomberg, Delta Air Lines, Citigroup, BlackRock, Cumberland Advisors, Hewlett Packard Enterprise, Amazon, Meta, Union, Google, Microsoft, Apple, Walmart, NBA, Thomson Locations: Israel, Ukraine, New York, Florida, Bengaluru

☆ Pfizer slashes full-year earnings and revenue guidance as Covid treatment, vaccine sales slump
▼ + stars: | 2023-10-13 | by ( Jacob Pramuk | ) www.cnbc.com time to read: +1 min

Pfizer slashed its full-year earnings and revenue guidance on Friday, as it said demand for its Covid products has waned. The company now expects 2023 sales of $58 billion to $61 billion, down from its previous guidance of $67 billion to $70 billion. Pfizer said it cut its revenue outlook "solely due to its Covid products." The biopharmaceutical company slashed its full-year adjusted earnings guidance to a range of $1.45 to $1.65 per share, from a previous $3.25 to $3.45 per share. It also said it anticipates sales of its vaccine, Comirnaty, will be $2 billion lower than previously expected because of lower-than-expected vaccination rates.

Persons: Albert Bourla Organizations: Pfizer, European Commission, BioNTech, U.S ., CNBC, YouTube Locations: U.S, Puurs, Belgium

☆ CEOs from Alphabet, Walmart, Pfizer meet White House officials on refugees
▼ + stars: | 2023-09-14 | by ( Jeff Mason | Thomson Reuters | Jeff Mason Is A White House Correspondent For Reuters. He Has Covered The Presidencies Of Barack Obama | ) www.reuters.com time to read: +2 min

REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsCompanies Accenture PLC FollowAirbnb Inc FollowAlphabet Inc Follow Show more companiesWASHINGTON, Sept 14 (Reuters) - Chief executives from a wide array of U.S. companies will meet White House Chief of Staff Jeff Zients on Thursday to discuss refugee resettlement and sponsorship programs, a White House official said. The CEOs will include Alphabet's Sundar Pichai, Walmart's Doug McMillon, Pfizer's Albert Bourla, HP's Enrique Lores and others. They are part of a council of leaders affiliated with Welcome.US, a group dedicated to helping support refugees in the United States. They will meet Zients and other White House officials "to discuss specific ways we can continue to work together to support safe, orderly pathways for people in need of safety to come to the United States, including through refugee resettlement and new, expanded humanitarian sponsorship programs," a White House official told Reuters. The White House, which says it wants to partner with the private sector to build a humane immigration system, worked with Welcome.US to help Afghan refugees coming to the United States after Biden pulled U.S. troops out of Afghanistan in 2021.

Persons: Annegret, Jeff Zients, Alphabet's Sundar Pichai, Doug McMillon, Pfizer's Albert Bourla, HP's Enrique Lores, Richard Dickson, Julie Sweet, David Risher, Hamdi Ulukaya, Mike Sievert, Goldman Sachs, Kathy Hochul, Zients, Biden, Donald Trump, Welcome.US, Jeff Mason, Christian Schmollinger Organizations: Google, Arena, REUTERS, Accenture, White, Welcome.US, Reuters, Lyft, Mobile, Blackstone, Comcast, Meta, Republicans, Democrat, Republican, Biden, Thomson Locations: Berlin, Germany, WASHINGTON, United States, Airbnb, New, New York City, United, Afghanistan

☆ FDA approves updated Covid vaccines from Pfizer and Moderna as hospitalizations rise
▼ + stars: | 2023-09-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The Food and Drug Administration on Monday approved updated Covid vaccines from Pfizer and Moderna , putting the shots on track to reach Americans within days as U.S. hospitalizations from the virus rise. The updated vaccines from Pfizer and Moderna won't be available to Americans just yet. The Biden administration said in August that it expects new single-strain vaccines from Pfizer, Moderna and Novavax targeting XBB.1.5 to be available to the public in mid-September. The upcoming arrival of updated vaccines offers some reassurance to Americans as the nation sees an increase in Covid cases and hospitalizations. Bourla and Moderna CEO Stéphane Bancel, in a separate statement, urged Americans to receive their updated Covid shot during the same appointment as their annual flu shot.

Persons: Biden, Pfizer's, Albert Bourla, Stéphane Bancel, hospitalizations Organizations: Pfizer, BioNTech, Peabody Institute Library, Drug Administration, Moderna, FDA, CDC, Covid, EG Locations: Peabody , Massachusetts, U.S

☆ Pfizer limits distribution of some drugs from North Carolina plant damaged by tornado
▼ + stars: | 2023-08-04 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The roof of a Pfizer facility shows heavy damage after a tornado passed the area in Rocky Mount, North Carolina, July 19, 2023. Pfizer is limiting the distribution of some drugs manufactured at its plant in Rocky Mount, North Carolina, after the facility was struck by a tornado last month, the company said in a letter to hospitals late Thursday. The letter listed 12 injection products that Pfizer will only distribute through emergency orders "due to their high medical need," effective "immediately and until further notice." It also includes an injection used to treat metabolic acidosis, or the buildup of excess acid in the body due to ailments like kidney failure. Pfizer said last month that the tornado primarily damaged a warehouse facility, which stored raw materials, packaging supplies and finished medicines waiting for quality assurance.

Persons: Meera Bhavsar, Albert Bourla Organizations: Pfizer, American Society of Health Locations: Rocky Mount, North Carolina

☆ Pfizer takes more steps to manage medicine stock at North Carolina plant
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

The roof of a Pfizer facility shows heavy damage after a tornado passed the area in Rocky Mount, North Carolina, U.S. July 19, 2023. The company's Rocky Mount plant is one of the world's largest factories for sterile injectable medicines. The tornado that struck the site completely destroyed the warehouse, but production facilities there did not suffer major damage, Pfizer had said earlier. Earlier this week, CEO Albert Bourla said the company is still assessing how long it will take to bring the plant back on line. Reporting by Sriparna Roy and Bhanvi Satija in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Albert Bourla, Sriparna Roy, Bhanvi, Pooja Desai Organizations: Pfizer, ABC, WTVD, REUTERS, Pfizer Inc, Thomson Locations: Rocky Mount, North Carolina, U.S, Bengaluru

☆ Pfizer mulls cost cuts on volatile COVID products demand
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Comirnaty sales declined 83% to $1.49 billion in the second quarter and antiviral treatment Paxlovid revenue tumbled 98% to $143 million. That compared with analysts' estimates of $1.40 billion for the vaccine and $1.08 billion for the pill. However, the company maintained its forecast for annual COVID revenues at about $21.5 billion. Pfizer also trimmed the upper end of its annual revenue forecast by $1 billion to $70 billion while retaining the low end at $67 billion. Total revenue for the second quarter fell 54% to $12.73 billion, compared with analysts' estimates of $13.27 billion, according to Refinitiv data.

Persons: drugmaker, Albert Bourla, Bhanvi, Sriraj Organizations: Pfizer, Thomson Locations: U.S, Bengaluru

☆ Vaccines for flu and RSV now available ahead of fall virus season
▼ + stars: | 2023-08-01 | by ( Amanda Musa | ) edition.cnn.com time to read: +5 min

CNN —With the fall respiratory virus season just around the corner, major US pharmacy chains have begun rolling out flu and RSV vaccine appointments. CVS is now scheduling flu vaccinations, as well as allowing walk-in vaccinations at certain pharmacies, spokesperson Amy Thibault said. Rite Aid, CVS and Walgreens say they will also offer the new Covid-19 vaccines once they’re available. The US Food and Drug Administration approved the world’s first RSV vaccines, from GSK and Pfizer, this year. Those who want all three vaccines should get their RSV vaccine well before or after their flu and Covid-19 shots, Schaffner says.

Persons: Catherine Carter, Amy Thibault, Xavier Becerra, Becerra, Albert Bourla, William Schaffner, it’s, ” Schaffner, Schaffner, Dr, Sanjay Gupta, “ We’re, “, ” Organizations: CNN, Walgreens, Aid, CVS, Walmart, Publix, Kroger, Rite, FDA, US Centers for Disease Control, US Department of Health, Human Services, Pfizer, Moderna, Food and Drug Administration, GSK, Vanderbilt University Medical Center, CDC, CNN Health

☆ Earnings playbook: How to trade some of the biggest reports this week, including Apple
▼ + stars: | 2023-07-31 | by ( Fred Imbert | ) www.cnbc.com time to read: +8 min

This quarter: Analysts polled by FactSet expect Merck to post a loss for the first quarter. Starbucks is set to report earnings after the bell, with management slated to hold a call at 5 p.m. This quarter: Analysts polled by FactSet expect double-digit earnings growth quarter over quarter. What history shows: Bespoke data shows Amazon earnings exceed earnings expectations 62% of the time. Apple is set to report earnings after the close, followed by a call at 5 p.m.

Persons: Goldman Sachs, Annika Kim Constantino, Merck, Merck's, Joe Biden's, SBUX, Bank of America's Sara Senatore, Senatore, Albert Bourla, —, They're, AMZN, FactSet, Annie Palmer, Morgan Stanley, Erik Woodring, — CNBC's Michael Bloom Organizations: Netflix, Merck, Apple, FactSet, CNBC, Prometheus Biosciences, Investment, Bank of America's, Pfizer, Management, Amazon Web Services, IDC Locations: China, 2Q23, New York, Carolina, Friday's

☆ Pfizer says supply of some drugs may be disrupted after NC tornado
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, July 24 (Reuters) - Drugmaker Pfizer Inc (PFE.N) said over 30 drugs, including injections of painkiller fentanyl and anesthetic lidocaine, may see supply disruption after a tornado destroyed a warehouse at its Rocky Mount, North Carolina, plant last week. The company sent a letter late last week to its hospital customers saying it had identified around 64 different formulations or dosages of those more than 30 drugs produced at the plant that may experience continued or new supply disruptions. The company has placed limits on how much supply of those drugs its customers can buy. It said the list was "based on Pfizer market share and inventory levels of less than 3 months across our Pfizer distribution centers and the wholesale chain." The Rocky Mount plant is one of the largest factories for sterile injectable medicines in the world.

Persons: Albert Bourla, Michael Ganio, Michael Erman, Aurora Ellis Organizations: YORK, Drugmaker Pfizer Inc, Pfizer, American Society of Health, System, Thomson Locations: North Carolina

[1/2] The roof of a Pfizer facility shows heavy damage after a tornado passed the area in Rocky Mount, North Carolina, U.S. July 19, 2023. ABC Affiliate WTVD via REUTERSJuly 21 (Reuters) - Most of the tornado damage at Pfizer Inc's (PFE.N) Rocky Mount, North Carolina plant was to the warehouse and not manufacturing facilities, CEO Albert Bourla said on Friday, easing concerns about long-term drug shortages from the plant. Nonetheless, Bourla told a news conference in Rocky Mount that it will be a monumental task to repair the damage. "We are moving full speed to bring this manufacturing plant into action again," Bourla said, noting that crews were working to restore power to the plant. The Rocky Mount plant is one of the largest factories for sterile injectable medicines in the world.

Persons: Albert Bourla, Bourla, Soumi Saha, Saha, Lisa Mulloy, Erin Fox, David Ljunggren, Michael Erman, Shivani Tanna, Rami Ayyub, Doina Chiacu, Cynthia Osterman, Diane Craft Organizations: Pfizer, ABC, WTVD, REUTERS, Pfizer Inc's, U.S, American Society of Health, System Pharmacists, U.S . Food, Drug Administration, FDA, Premier Inc, University of Utah Health, Thomson Locations: Rocky Mount, North Carolina, U.S, Rocky, Bengaluru

July 21 (Reuters) - Pfizer Inc(PFE.N) CEO Albert Bourla said on Friday that tornado damage this week had almost completely destroyed the drugmaker's warehouse at its Rocky Mount, North Carolina, plant, but that production facilities there do not seem to have suffered damage. "It appears that most of the damage sustained at the site was at our warehouse ... the facilities that are producing, (it) doesn't seem that they have suffered any damage." In the meantime, the company is working to identify alternative manufacturing locations for production around the U.S. Nearly 25% of Pfizer's sterile injectables used in U.S. hospitals are produced there, according to the company's website. "There are so many shortages already," said Erin Fox, senior director of drug information at University of Utah Health.

Persons: Albert Bourla, Bourla, Soumi Saha, Saha, Erin Fox, Lisa Mulloy, David Ljunggren, Michael Erman, Rami Ayyub, Doina Organizations: Pfizer Inc, Engineers, U.S, Products, Premier Inc, American Society of Health, System Pharmacists, Pfizer, University of Utah Health, Thomson Locations: North Carolina, Rocky, U.S

☆ Cramer's Lightning Round: Trip advisor isn't good enough
▼ + stars: | 2023-07-19 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Tripadvisor's year-to-date stock performance. Stock Chart Icon Stock chart icon Shockwave Medical's year-to-date stock performance. Stock Chart Icon Stock chart icon Akoya Biosciences' year-to-date stock performance. Stock Chart Icon Stock chart icon Pfizer's year-to-date stock performance. Stock Chart Icon Stock chart icon Vistra's year-to-date stock perforrmance.

Persons: Brian Chesky, Shockwave, Stellantis, it's, you've, Bourla, he's, George Organizations: Technologies, Luminar Technologies, Biosciences, Akoya Biosciences, Vitesse Energy's, Vitesse Energy, Pfizer

Pfizer CEO Albert Bourla has said an obesity pill could eventually be a $10-billion-a-year product for Pfizer. Truist Securities analyst Robyn Karnauskas said Lilly is now ahead in the race for a once-a-day obesity pill. Pfizer said last month that danuglipron helped patients lose weight on par with Novo Nordisk's (NOVOb.CO) Ozempic in a mid-stage study that tested it in patients with Type 2 diabetes. None of the patients in the lotiglipron trials reported liver-related symptoms or side effects, there was no evidence of liver failure and none required treatment, Pfizer said. Liver enzyme elevations observed in lotiglipron trials have not been seen in patients enrolled in danuglipron trials, the company added.

Persons: Albert Bourla, Eli Lilly, LLY.N, Robyn Karnauskas, Lilly, Pfizer, danuglipron, Manas Mishra, Leroy Leo, Michael Erman, Pooja Desai, Jason Neely, Deepa Babington Organizations: Pfizer Inc, Pfizer, NYSE Arca Pharmaceutical, Truist Securities, Novo Nordisk's, Thomson Locations: United States, Bengaluru, New Jersey

☆ Pfizer to end development of experimental obesity pill due to elevated liver enzymes
▼ + stars: | 2023-06-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Pfizer on Monday said it would stop developing its experimental obesity and diabetes pill, lotiglipron, due to elevated liver enzymes in patients who took the drug once a day in mid-stage clinical studies. New York-based Pfizer said it will instead focus on its other oral obesity drug, danuglipron, which is in a fully enrolled phase two clinical trial. Pfizer CEO Albert Bourla has said that an obesity pill could eventually generate $10 billion each year for the company. The new class of obesity drugs is piquing public interest and causing a weight loss industry gold rush. Analysts believe Eli Lilly’s pill has an edge over Pfizer’s danuglipron.

Persons: William Sessa, Albert Bourla, Eli Lilly, Eli Lilly’s, danuglipron, Wells, Mohit Bansal, orforglipron, Bansal Organizations: Pfizer, Novo Nordisk, National Institutes of Health Locations: New York, danuglipron

☆ Drugmakers aim to strike down Medicare drug-price negotiations at Supreme Court
▼ + stars: | 2023-06-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

And Bristol Myers Squibb is trying protect its blood thinner Eliquis, which brought in $11.8 billion in sales last year, or about 25% of the company's $46 billion total revenue for 2022. Long legal battle aheadMerck, the chamber and Bristol Myers Squibb filed their lawsuits ahead of two key deadlines. Bristol Myers Squibb did not either. If circuit court decisions on the matter contradict one another, the Supreme Court would step in to decide the issue, Bagby said. Bristol Myers Squibb made an identical argument in its complaint.

Persons: Richard A, Gonzalez, Pascal Soriot, Giovanni Caforio, Jennifer Taubert, Johnson, Kenneth C, Frazier, Albert Bourla, Olivier Brandicourt, Win Mcnamee, Drugmaker Merck, Drugmaker, Bristol Myers Squibb, PhRMA, Eli Lilly, Merck, Bristol Myers, Robin Feldman, Nicholas Bagley, Bagley, Gretchen Whitmer, Chris Meekins, Raymond James, Antonin Scalia, Brett Kavanaugh, Neil Gorsuch, Meekins, Long, Xavier Becerra, Randolph Daniel Moss, Barack Obama, Judge Thomas M, Rose, George W, Bush, Kelly Bagby, Bagby, Amgen, Donald Trump, Karine Jean, Pierre, Biden, Jean, we'll, Becerra, Feldman Organizations: Senate, AbbVie Inc, AstraZeneca, Myers Squibb Co, Janssen Pharmaceuticals, Johnson, Merck & Co, Inc, Pfizer, Sanofi, Getty, U.S . Chamber of Commerce, Bristol Myers Squibb, Washington , D.C, Southern, Southern District of, Democratic Party, U.S, Merck, Bristol, Pharmaceutical Research, Manufacturers of America, CNBC, Medicare, University of California College of, Justice Department, Michigan Gov, Bristol Myers, Human Services, Centers, Services, AARP Foundation, HHS, AARP, Specialty Pharmacy, Reuters, Supreme, Appeals, Democratic, U.S . Sixth, Republican, Third, White Locations: America, Washington , DC, Bristol, U.S, Washington ,, Southern District, Southern District of Ohio, New Jersey, Commerce's Dayton , Ohio, San Francisco

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