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☆ Here's a list of weight-loss drugs in development and awaiting approval to take on Ozempic
▼ + stars: | 2023-06-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +10 min

The company's chief rival, Denmark-based Novo Nordisk (NVO), also published promising data on drugs in its pipeline, including its own oral weight-loss treatment. Other pharmaceutical companies are racing to compete with Novo Nordisk and Eli Lilly, including Amgen (AMGN) and Pfizer (PFE). Barclays on Tuesday projected Eli Lilly's three leading obesity-and-diabetes drugs could generate nearly $49 billion in combined sales in 2030. Eli Lilly Eli Lilly has multiple drugs in development that fall under the GLP-1 umbrella in various stages of clinical development. Novo Nordisk Novo Nordisk currently dominates the market for GLP-1 drugs, with three products in the class on the U.S. market already: Ozempic, Wegovy and Rybelsus.

Persons: It's, Eli Lilly, Eli Lilly's, retatrutide, Lilly, there's, Lilly's, Geoff Meacham, Eli Lilly Eli Lilly, Jim Cramer, Evan David Seigerman, —, — Morgan Stanley, Wegovy, Rybelsus, Jim Cramer's, Jim, Mike Segar Organizations: Club, Novo Nordisk, New England, of Medicine, American Diabetes Association, Pfizer, Reuters, Barclays, Bank of America, CNBC, JPMorgan, Drug Administration, Equity, BMO Capital, Novo Nordisk Novo Nordisk, GLP, FDA, Nordisk, Company Locations: San Diego, Denmark, GLP, It's, Novo, Novo Nordisk's, Branchburg , New Jersey

☆ Eli Lilly's weight loss drugs trounce sky-high expectations, boosting the stock
▼ + stars: | 2023-06-27 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +5 min

What's more, some showed no signs their weight loss was leveling off, suggesting they could continue to shed pounds. (Both use semaglutide, but Ozempic is marketed as a type 2 diabetes treatment, while Wegovy is primarily for weight loss.) Bank of America's Geoff Meacham said retatrutide "exceeded expectations" for weight loss. "This is important, as while the overall 22.4% weight loss was impressive, looking at men and women separately, weight loss was 21.9% and 28.5%, respectively, with the slope in females not yet plateauing. Schott also described the weight loss as "impressive" and said it will likely compare favorably with Novo's next-generation drug CagriSema, which is expected to show weight loss of more than 25% when it releases its next update.

Persons: Eli Lilly, What's, Lilly, Lilly's, Carter Gould, Gould, orforglipron, Bank of America's Geoff Meacham, retatrutide, Meacham, Chris Schott, Schott, Novo's, Evan David Seigerman, Seigerman, Morgan Stanley, Terence Flynn, — CNBC's Michael Bloom Organizations: American Diabetes Association, Wall, Novo Nordisk, Barclays, Bank of America's, JPMorgan, Lilly, BMO Capital, Indianapolis, ~$ Locations: Novo

☆ BMO's Evan Seigerman says Pfizer's dip is a setback and not catastrophic
▼ + stars: | 2023-06-26 | 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 EmailBMO's Evan Seigerman says Pfizer's dip is a setback and not catastrophicEvan Seigerman, BMO, joins 'Closing Bell' to discuss Pfizer ending its development of an experimental obesity drug.

Persons: Evan Seigerman Organizations: BMO, Pfizer

BMO Capital Markets says Gilead Sciences is a "best-in-class" therapy franchise that could soon see multiple expansion. The firm upgraded shares to outperform from market perform and raised its price target to $100 from $90. The new price target implies shares rallying 27.5% from Monday's close. Analyst Evan David Seigerman said that, in addition to Gilead's strong therapy franchise, its improving solid tumor oncology business and durable-growth anchored by its HIV/virology division could lead to strong growth. "While we note that Gilead currently trades at a discount to large-cap peers, continued de-risking of its oncology franchise could drive multiple expansion."

☆ Novo Nordisk rivals see room to compete in $100 billion weight-loss drug market
▼ + stars: | 2023-05-04 | by ( Michael Erman | ) www.reuters.com time to read: +6 min

The company has two oral GLP-1 drugs in mid-stage trials, and aims to choose one for a late-stage trial this year. He forecasts GLP-1s or similar drugs topping $100 billion in annual sales early in the 2030s, with Lilly's product accounting for more than $50 billion in sales. Smaller biotechs are also vying for a piece of the obesity market and hope large pharmaceutical companies will pay up for partnerships. "I don't know if it's $90 billion or $80 billion or $50 billion. The current GLP-1 drugs can cause nausea and vomiting.

☆ Positive Alzheimer's drug trial data pushes Eli Lilly shares to another all-time high and brightens our outlook
▼ + stars: | 2023-05-03 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

LLY 1Y mountain Shares of Eli Lilly over the past 12 months. The FDA granted accelerated approval to an anti-amyloid drug — developed by Japanese pharmaceutical firm Eisai and U.S.-based partner Biogen (BIIB) — in early January. For Eli Lilly, specifically, Seigerman said the donanemab data appears to be a "home run." Eli Lilly said two participants in the Phase 3 trial died due to ARIA side effects, while a third patient did after a serious ARIA incident. The Eli Lilly logo is shown on one of the company's offices in San Diego, California, September 17, 2020.

☆ AbbVie's weak newer drug sales fan worries as Humira faces rivals
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

April 27 (Reuters) - AbbVie Inc (ABBV.N) on Thursday missed quarterly revenue estimates for its newer treatments, fueling concerns over the drugmaker's attempts to cushion the blow to sales from blockbuster Humira losing patent exclusivity. The company's shares tumbled 6% in premarket trade as investors shrugged off a raised annual profit forecast. In the first quarter, Humira recorded sales of $3.54 billion, compared with analysts' average estimate of $3.58 billion. That helped Abbvie beat sales expectations. AbbVie had trimmed its full-year profit expectations earlier this month by 8 cents, citing a $150 million hit from acquired in-process research and development (IPR&D) and milestone expenses.

☆ This little-known biotech stock developing treatments for blood disorders could jump 80%, BMO says
▼ + stars: | 2023-03-23 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Investors should take a closer look at Disc Medicine as it develops treatments for blood disorders, according to BMO Capital Markets. Analyst Evan David Seigerman initiated coverage of Disc Medicine with an outperform rating and a $40 price target, saying that the firm's development of bitopertin to treat erythropoietic porphyrias and other blood disorders appears promising. IRON YTD mountain Disc Medicine shares YTD Last year, Disc Medicine went public in a reverse merger with biotechnology company Gemini Therapeutics, trading under the ticker symbol "IRON." Disc Medicine shares are up 8% this year. The analyst's $40 price target means that Disc Medicine shares can jump 84% from Wednesday's closing price.

☆ This biotech startup has a chance to grab a piece of the lucrative obesity drug market, analysts say
▼ + stars: | 2023-02-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +3 min

Enter biotech startup Structure Therapeutics , which is hoping to change that regimen with oral GLP-1 formulations for obesity and type 2 diabetes treatment. The stock rallied 73% in its first day of trading, but has pulled back in the weeks since its debut. Novo Nordisk's Wegovy and Ozempic are currently on the market and approved to treat obesity and type 2 diabetes. BMO was among the group of investment banks acting as joint book runners for Structure's IPO. (Jefferies was the lead book runner in Structure's IPO.)

☆ Pfizer in talks to buy cancer drugmaker Seagen - WSJ
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Feb 27 (Reuters) - Pfizer Inc (PFE.N) is in early-stage talks to acquire cancer drugmaker Seagen Inc (SGEN.O) in a potential multi-billion dollar deal, the Wall Street Journal reported, after advanced discussions between Merck (MRK.N) and Seagen fell through last year. Seagen had a market capitalization of roughly $30 billion, as of Friday's close. Its shares have fallen nearly 10% since July, when the deal talks with Merck were first reported. Pfizer declined to comment on the WSJ report, while Seagen did not immediately respond to a Reuters request for comment. Merck, which bought ADC-maker Imago BioSciences for $1.35 billion in November, is unlikely to show renewed interest in Seagen, analysts said.

"When you think about traditional drug and vaccine development and longevity of sales, it's usually much more spread out," Morningstar analyst Damien Conover said. The sudden inflow of revenue should prod companies to strike deals and link up with new partners, he said. Vaccine maker Moderna also expects 2023 revenue to fall sharply. The company's only product - its messenger RNA COVID vaccine - pulled in around $18.4 billion in 2022. Eli Lilly and Co (LLY.N) made $2 billion in 2022 from monoclonal antibody COVID treatments and is not expecting any revenue from the business in 2023.

Analysts say they have based their 2023 Paxlovid sales estimates primarily on public details of announced deals, with a token amount of estimated China sales from before the country dropped the Zero-COVID policy. Their current estimates for over $10 billion in 2023 Paxlovid sales is less than half the $22 billion Pfizer is expected to report for 2022, according to Refinitiv data. Billions of dollars in Paxlovid sales could be at stake for Pfizer. Even without a deal to sell Paxlovid broadly in China, the company can still sell it there on the private market. China is "probably the only region that we're modeling a year-over-year increase in 2023" for Paxlovid, Conover said.

☆ Eisai, Biogen's Alzheimer's drug price should not dent demand, analysts say
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

Jan 9 (Reuters) - The $26,500-per-year price tag for Eisai Co Ltd (4523.T) and Biogen Inc's (BIIB.O) newly approved Alzheimer's disease drug is slightly above expectations, but should not dent demand for the promising therapy, Wall Street analysts said. The U.S. health regulator on Friday granted accelerated approval to the drug, Leqembi, and the decision was hailed by patient groups. However, the price tag is lower than that of Eisai and Biogen's first Alzheimer's disease drug, Aduhelm, which was initially priced at $56,000 annually before the drugmakers halved the price amid controversy over its approval. Eisai and Biogen said on Saturday the Japanese drugmaker had applied for full approval by the U.S. Food and Drug Administration. Some analysts expect broader coverage by Medicare if the drug is granted full approval.

☆ Merck could keep its patent edge by shifting Keytruda cancer drug to a simple shot
▼ + stars: | 2022-12-02 | by ( Michael Erman | ) www.reuters.com time to read: +7 min

If successful, Merck could begin marketing the new formulation within a few years, a top Merck executive told Reuters. "The clock for that patent would start ticking from the time we would get that patent approved." Drug patents have a guaranteed term of exclusivity for 20 years after receiving a patent under U.S. law, but sometimes the companies are able to add additional patents that extend their exclusivity. Merck's patents on the subcutaneous version of Keytruda could protect that formulation until at least 2040, according to Tahir Amin, co-founder of drug patents watchdog group Initiative for Medicines, Access & Knowledge (I-MAK). Northwell's Mulloy said moving patients to subcutaneous versions of drugs also opens up spots in infusion centers for additional patients.

Nov 1 (Reuters) - Pfizer Inc (PFE.N) on Tuesday raised its forecast for 2022 sales of its COVID-19 vaccine by $2 billion to $34 billion, and said new deals and drugs in development should help replace future declining vaccine sales and lost revenue from patent expirations. Sales of the Pfizer/BioNTech COVID vaccine are down from pandemic highs as many countries have neared the end of their primary vaccination campaigns. Third-quarter sales of the COVID vaccine came in at $4.40 billion, blowing past estimates of $2.60 billion. However, $7.51 billion in sales of Paxlovid, the company's COVID-19 antiviral treatment, fell short of estimates of $7.66 billion. Pfizer reported adjusted earnings of $1.78 per share in the third quarter, beating analysts' estimates by 39 cents.

☆ Pfizer boosts COVID vaccine sales forecast by $2 bln
▼ + stars: | 2022-11-01 | by ( Manas Mishra | ) www.reuters.com time to read: +2 min

Nov 1 (Reuters) - Pfizer Inc (PFE.N) on Tuesday raised its forecast for annual sales of its COVID-19 vaccine by $2 billion to $34 billion on demand for Omicron-targeted boosters, helping allay some investor worries over growth for the vaccinations. The U.S. drugmaker's shares rose 2.4% to $447.67 in morning trading as its third-quarter profit beat estimates, mainly due to better-than-expected sales of the vaccine. The upbeat earnings also sent shares of rival COVID-19 vaccine makers higher. Sales of the COVID-19 vaccine have eased from pandemic highs on soft demand for the original shots, sparking concerns over demand over the next few years. Third-quarter sales of the COVID-19 vaccine came in at $4.40 billion, blowing past estimates of $2.60 billion.

☆ Pfizer boosts COVID vaccine sales forecast by $2 bln to $34 bln
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

Nov 1 (Reuters) - Pfizer Inc (PFE.N) on Tuesday raised its forecast for annual sales of its COVID-19 vaccine by $2 billion to $34 billion on demand for Omicron-targeted boosters, helping allay some investor worries over growth for the vaccinations. The U.S. drugmaker's shares rose 4.3% to $48.55 in premarket trading as its third-quarter profit beat estimates, mainly due to better-than-expected sales of the vaccine. Sales of the COVID-19 vaccine have eased from pandemic highs on soft demand for the original shots, sparking concerns over demand over the next few years. Third-quarter sales of the COVID-19 vaccine came in at $4.40 billion, blowing past estimates of $2.60 billion, according to five analysts polled by Refinitiv. However, $7.51 billion in sales of the company's COVID-19 pill Paxlovid missed estimates of $7.66 billion.

Oct 25 (Reuters) - Biogen Inc (BIIB.O) on Tuesday said the Alzheimer's disease drug it is developing with Japan's Eisai Co Ltd (4523.T) would be used by doctors in a competitive market as investors wait for data from rival therapies made by Eli Lilly and Co (LLY.N) and Roche (ROG.S). The drug, lecanemab was shown to slow the progress of the disease by 27% in a trial last month, and additional data is expected next month. "The data needs to be seen from the other anti-amyloid therapies before we decide what is going to be meaningful," said Biogen interim research chief Priya Singhal. Its costs were about halved as the company significantly cut back on commercial infrastructure around the launch of Aduhelm, its previous Alzheimer's drug that has sputtered amid controversy over efficacy and lack of coverage by health insurers. read moreInvestors have been pinning hopes on the Alzheimer's drug as cheaper generics of Biogen's multiple sclerosis treatment Tecfidera have entered the market, hurting sales.

The trial results released on late Tuesday could mark a rare victory in the search for a treatment for the memory-robbing disease after years of clinical failures. Biogen's stock surged 46.6% to $290.99 in premarket trading, putting it on track to add over $13.5 billion in market capitalization. BMO analyst Evan Seigerman called the data an "unequivocal win" for Biogen and Alzheimer's patients. The latest trial boost for Biogen and Eisai's lecanemab has raised hope for success in trials testing Roche's gantenerumab and Lilly's donanemab. Shares of smaller Alzheimer's drug developers also rose in premarket U.S. trading.

☆ Here's why Biogen's promising Alzheimer's drug data is also good news for Eli Lilly
▼ + stars: | 2022-09-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

The move helped Eli Lilly notch a fresh 52-week high Wednesday, the only stock in the S & P 500 to do so. Bottom line Biogen's topline data appears to be encouraging, suggesting the Alzheimer's drug helped slowed cognitive decline. Plus, we think Eli Lilly has more going for it overall than Biogen, making it a more attractive investment. Drug background Like Biogen's Alzheimer's drug lecanemab, Lilly's donanemab is an antibody that tries to reduce buildup on the brain of the amyloid beta protein . The Eli Lilly logo is shown on one of the company's offices in San Diego, California, September 17, 2020.

Globally, the figure could reach 139 million by 2050 without an effective treatment, Alzheimer's Disease International said. Aduhelm was the first new Alzheimer's drug approved in 20 years after a long list of high-profile failures for the industry. read morePatient advocacy groups hailed the news of positive lecanemab trial results. Micro hemorrhages in the brain occurred at a rate of 17% in the lecanemab group, and 8.7% in the placebo group. Aduhelm's approval was a rare bright spot for Alzheimer's patients, but critics have called for more evidence that amyloid-targeting drugs are worth the cost.

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