DIRS.INFO The most relevant business & tech news

Nicknamed "Pirola" on social media, the BA.2.86 Omicron subvariant is being tracked by both the World Health Organization (WHO) and the U.S. Centers for Disease Control and Prevention (CDC). As of Aug. 30, CDC said the BA.2.86 variant was detected in at least four U.S. states in people or wastewater. Delaware on Tuesday said it had detected a BA.2.86 infection at a hospital. Moderna on Wednesday said clinical data showed that its retooled COVID vaccine generated a nearly 9-fold increase in human antibodies that can neutralize BA.2.86. Pfizer said on Wednesday that its updated COVID shot showed neutralizing activity against BA.2.86 and EG.5 in studies conducted on mice.

Persons: Emily Elconin, David Dowdy, Dowdy, Dan Barouch, David Ho, Deena Beasley, Julie Steenhuysen, Bill Berkrot Organizations: REUTERS, Moderna, Pfizer, World Health Organization, WHO, U.S . Centers for Disease Control, Prevention, CDC, EG, Omicron, East, Johns Hopkins Bloomberg School of Public Health, Center, Virology, Vaccine, Beth Israel Deaconess Medical, Columbia University, U.S . Food, Drug Administration, Thomson Locations: Waterford , Michigan, U.S, Europe, Asia, Delaware, East Coast, Boston, Sweden, China

☆ Moderna, Pfizer say updated COVID shots generate strong response vs newer variant
▼ + stars: | 2023-09-06 | by ( Patrick Wingrove | ) www.reuters.com time to read: +3 min

Moderna said its shot generated an 8.7-fold increase in neutralizing antibodies against BA.2.86 compared with an untreated natural antibody response in clinical trials in humans. Pfizer said its updated vaccine with partner BioNTech (22UAy.DE) elicited a strong antibody response against BA.2.86 in a preclinical study in mice. Moderna, Pfizer/BioNTech and relative newcomer to the COVID vaccine market Novavax (NVAX.O) have created versions of their shots aimed at the XBB.1.5 subvariant, the dominant variant through most of 2023. Moderna shares were down 1.6% and Pfizer shares were off nearly 3% in afternoon trading. The Omicron offshoot carries more than 35 mutations in key portions of the virus compared with XBB.1.5, the target of the updated shots.

Persons: Moderna, Jacqueline Miller, BioNTech, Cowen, Tyler Van Buren, Dado Ruvic, Patrick Wingrove, Michael Erman, Bill Berkrot Organizations: Pfizer, World Health Organization, WHO, U.S . Centers for Disease Control, Prevention, ” Moderna, Moderna, REUTERS, CDC, Omicron, U.S . Food, Drug Administration, Britain's Medicines, Healthcare, Agency, Reuters, Thomson Locations: Switzerland, South Africa, Israel, Denmark, U.S, Britain, New York, New Jersey

☆ Moderna says updated COVID vaccine is effective against newer variant
▼ + stars: | 2023-09-06 | by ( Patrick Wingrove | ) www.reuters.com time to read: +2 min

[1/2] A vial and sryinge are seen in front of a displayed Moderna logo in this illustration taken January 11, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 6 (Reuters) - Moderna (MRNA.O) on Wednesday said clinical trial data showed its updated COVID-19 vaccine will likely be effective against the highly-mutated BA.2.86 subvariant of the coronavirus that has raised fears of a resurgence of infections. The Omicron offshoot carries more than 35 mutations in key portions of the virus compared with XBB.1.5, the dominant variant through most of 2023 and the target of the updated shots. Moderna said it had shared the new finding on its vaccine with regulators and submitted it for peer review publication. European regulators have since backed the Pfizer/BioNTech shot, with Britain's Medicines and Healthcare products Regulatory Agency approving the vaccine on Tuesday, but have yet to make any announcements on Moderna’s updated vaccine.

Persons: Dado Ruvic, Jacqueline Miller, Moderna, COVID, BioNTech, Patrick Wingrove, Bill Berkrot Organizations: REUTERS, World Health Organization, WHO, U.S . Centers for Disease Control, Prevention, ” Moderna, CDC, Omicron, U.S . Food, Drug Administration, Pfizer, Moderna, Britain's Medicines, Healthcare, Agency, Reuters, Thomson Locations: The Massachusetts, Switzerland, South Africa, Israel, Denmark, U.S, Britain, New York

☆ Analysis: US healthcare stocks roiled by investor tug of war over economy
▼ + stars: | 2023-09-05 | by ( David Randall | ) www.reuters.com time to read: +5 min

Many view healthcare as a defensive sector because it has constant demand and is somewhat insulated from the economy. In the latest week, investors pulled a net $1.4 billion from the sector, the biggest weekly outflow since May 2022. Overall, the healthcare sector - which ranges from health insurers like UnitedHealth to pharmaceutical companies like Pfizer to small biotechs - has received the third largest inflows of any sector year to date, BofA's data showed. This would weaken the case for loading up on healthcare stocks. Overall, healthcare sector earnings are expected to lag this year as COVID-related revenues decline 13% versus a 1.8% rise for the overall S&P 500.

Persons: Brendan McDermid, Bob Kalman, Emily Roland, Dan Lyons, Janus Henderson, you've, Lyons, Kalman, Joe Biden's, Margie Patel, Patel, David Randall, Ira Iosebashvili, Megan Davies, David Gregorio, Richard Chang Organizations: New York Stock Exchange, REUTERS, Atlanta Federal, BofA Global Research, Pfizer, Miramar Capital, Healthcare, John Hancock Investment Management, Janus Henderson Investors, U.S, Bristol Myers Squibb, Allspring Global Investments, Thomson Locations: New York City, U.S

An Amgen sign is seen at the company's office in South San Francisco, California in this October 21, 2013. Under the FTC settlement, Amgen is prohibited from bundling any of its products with Tepezza or Krystexxa, and from using any product rebate or contract term to exclude or disadvantage products that would compete with those drugs. It also prevents Amgen from buying any competitors to the two Horizon drugs without the FTC's permission. The lawsuit had raised concerns over increased oversight on mergers and acquisitions in a sector that often turns to consolidation to power future growth as patents on older treatments expire. Shares of Seagen Inc (SGEN.O), which is in the process of being acquired by Pfizer (PFE.N), rose 1.5%.

Persons: Robert Galbraith, Lina Khan, Robyn Karnauskus, Khan, Manas Mishra, David Shepardson, Devika Organizations: REUTERS, U.S . Federal Trade Commission, Horizon Therapeutics, FTC, Seagen Inc, Pfizer, Thomson Locations: South San Francisco , California, Amgen, Bengaluru, Washington

☆ Morning Bid: US jobs data and China bring cheer, for now
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +3 min

The Fed has made it clear it will be data-dependent as it charts its monetary policy path. European markets look set for a higher open, with the pan-European STOXX 600 (.STOXX) at two-week highs. Inflation reports from Germany and Spain later in the day will provide further clues on price pressures in the region ahead of the euro zone inflation report on Thursday. Traders have raised their bets on a 25-basis-point European Central Bank rate hike in September, a slight shift from expectations of a pause following a sharper-than-expected contraction in euro zone business activity. Australia's inflation slowed to a 17-month low in July, signalling that interest rates might not need to rise again.

Persons: Ankur Banerjee, Biden, Edmund Klamann Organizations: Silicon Valley Bank, Credit Suisse, REUTERS, Staff, Ankur, Federal, Federal Reserve, Traders, Bank, U.S, Bristol Myers Squibb, Novo Nordisk, Pfizer, ICE, Supplies, Reuters, Thomson Locations: Frankfurt, Silicon, Germany, U.S, Europe, Spain, Asia, West Africa, Singapore

☆ Karen Firestone: What investors should know about megacap stocks’ market influence
▼ + stars: | 2023-08-30 | by ( Karen Firestone | ) www.cnbc.com time to read: +5 min

These four are responsible for 46% of the 17% gain in the S & P 500 year to date. In 2003, the largest stocks – General Electric , Microsoft, Pfizer and Exxon Mobil – represented merely 4.4% of the total index market value. By 2013, the share commanded by giants Apple, Exxon, Microsoft and GE rose to 8.9% of the S & P 500. That's still below their 21% market value share, but it helps explain what investors are paying for: exceptional free cash flow and sustainable margins. The S & P 500 will struggle without participation from its biggest components.

Persons: That's, Price, Karen Firestone Organizations: Apple, Microsoft, Nvidia, Meta, Delta Air Lines, Micron Technology, Electric, Pfizer, Exxon Mobil, Exxon, GE, U.S, Union, Asset Management

☆ Explainer: Why the US is negotiating the price of 10 drugs
▼ + stars: | 2023-08-29 | by ( Patrick Wingrove | ) www.reuters.com time to read: +4 min

What are the Medicare drug price negotiations? The Medicare agency, known as the Centers for Medicare & Medicaid Services (CMS), was previously forbidden by law from bartering prices with manufacturers. The negotiations must end by Aug. 1, and Medicare will publish its list of new prices on Sept. 1. The process will begin again in February of 2025, when CMS selects another 15 costly prescription drugs for negotiations, with new prices on those going into effect in 2027. All the lawsuits seeking to avoid drug price negotiations argue that the new law is unconstitutional.

Persons: Joe Biden, Kevin Lamarque, Joe Biden’s, Patrick Wingrove, Bill Berkrot Organizations: Major Economies, White, REUTERS, U.S, Merck, Co's, Bristol Myers Squibb, Pfizer, Medicare, Medicaid Services, CMS, U.S . Chamber of Commerce, Thomson Locations: Energy, Washington , U.S

He said that once implemented, the prices on negotiated drugs will decrease for up to 9 million seniors who currently pay as much as $6,497 in out-of-pocket costs per year for these prescriptions. This kicks off the negotiation process for the 10 drugs whose new prices will go into effect in 2026. U.S. laws had prohibited Medicare from negotiating pharmaceutical prices as part of its prescription drug program that began about 20 years ago. CMS Director Dr. Meena Seshamani said Medicare plans to use a review process to make sure insurance companies keep clinically appropriate access to negotiated drugs. Two analysts said they expect the negotiated prices to move beyond Medicare and affect commercial markets for these drugs by 2026, when they come into effect.

Persons: Joe Biden, Jonathan Ernst, Biden, Joe Biden’s, Januvia, Xarelto, Johnson, Boehringer Ingelheim, Eli Lilly's, Jardiance, Mohit Bansal, Entresto, Eli Lilly, Merck, Bristol Myers, Giovanni Caforio, Caforio, enrollees, Meena Seshamani, Stelara, Amgen, Evan Seigerman, Patrick Wingrove, Mike Erman, Manas Mishra, Nandita Bose, Caroline Humer, Bill Berkrot Organizations: Social Security, University of Tampa, REUTERS, U.S, Bristol Myers Squibb, Pfizer, Merck, Co's, Johnson, Novo Nordisk, NYSE Arca Pharmaceutical, U.S . Centers, Medicare, Medicaid Services, Reuters Graphics Wells, Novartis, AstraZeneca, Bristol, J, U.S . Department of Health, Human Services, BMO Capital, Thomson Locations: Tampa , Florida, U.S, Amgen's, Jardiance, Germany, Bengaluru, Washington

[1/2] A pharmacist holds a bottle of the drug Eliquis, sold by Bristol Myers Sqibb and Pfizer at a pharmacy in Provo, Utah, U.S. January 9, 2020. REUTERS/George Frey/File Photo Acquire Licensing RightsAug 29 (Reuters) - The U.S. government on Tuesday selected the first 10 drugs, including the big-selling blood thinner Eliquis from Bristol Myers Squibb (BMY.N) and Pfizer (PFE.N) , that will be subject to the first-ever Medicare price negotiations, part of President Joe Biden’s Inflation Reduction Act (IRA) that drugmakers and industry groups have challenged in court. At least eight lawsuits were filed between June and late August seeking to block the price negotiation, arguing that the law and forced price cuts would violate various amendments to the U.S. constitution. The following are key details of the lawsuits:Reporting by Manas Mishra and Sriparna Roy in Bengaluru; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Bristol Myers Sqibb, George Frey, Joe Biden’s, Manas Mishra, Sriparna Roy, Bill Berkrot Organizations: Bristol, Pfizer, REUTERS, U.S, Bristol Myers Squibb, Thomson Locations: Provo , Utah, U.S, Bengaluru

☆ White House inflicts Big Pharma ills
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

If just one or two big medications were going to be renegotiated, the industry could shoulder the change. The IRA, signed into law last year, allows Medicare to negotiate prices for some of its most costly drugs. Though specificities are unclear, a quick look at one of the biggest sellers under the program, blood thinner Eliquis, suggests Big Pharma could shoulder a discount. At 11 times earnings over the next 12 months, that’s less than 10% of the firm’s $205 billion market capitalization. Put this on the same multiple of 11 times, and it would be a $275 billion hit to the industry.

Persons: George Frey, Biden, Robert Cyran, Xpeng’s Didi, Lauren Silva Laughlin, Sharon Lam Organizations: Pfizer Pharmaceuticals, REUTERS, Reuters, Big, Medicare, Pfizer, Bristol, Myers Squibb, Congressional, Office, X, Thomson Locations: Provo , Utah, U.S

☆ Final Trades: PFE, PLTR, SPY
▼ + stars: | 2023-08-25 | 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 EmailFinal Trades: PFE, PLTR, SPYThe final trades of the day with the Fast Money traders.

Organizations: Fast Money

Aug 21 (Reuters) - The U.S. Food and Drug Administration on Monday approved Pfizer's (PFE.N) respiratory syncytial virus (RSV) vaccine for use in women during the middle of the third trimester of pregnancy to protect their babies. An FDA panel of outside experts backed the safety and effectiveness of Pfizer's RSV vaccine for women in their second and third trimesters earlier in May. RSV is a common respiratory virus that usually causes mild, cold-like symptoms but can also lead to serious illness and hospitalization. Infants are at greatest risk for severe illness from RSV. An estimated 58,000 to 80,000 children below the age of five years are hospitalized every year due to RSV infection in the U.S., according to government data.

Persons: Pfizer, Mariam Sunny, Bhanvi, Patrick Wingrove, Caroline Humer, Bill Berkrot Organizations: U.S . Food, Drug Administration, FDA, Pfizer, U.S . Centers for Disease Control, Sanofi, AstraZeneca, GSK, Thomson Locations: U.S, United States, Bengaluru, New York

☆ Biden administration to urge Americans get new COVID-19 boosters
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +1 min

A 50-year-old and immunocompromised resident receives a second booster shot of the coronavirus disease (COVID-19) vaccine in Waterford, Michigan, U.S., April 8, 2022. On Thursday, Moderna (MRNA.O) said initial data showed its updated COVID-19 vaccine is effective against the "Eris" and "Fornax" subvariants in humans. Moderna and other COVID-19 vaccine makers Novavax (NVAX.O), Pfizer (PFE.N) and German partner BioNTech SE (22UAy.DE) have created versions of their shots aimed at the XBB.1.5 subvariant. Pending approval from health regulators in the United States and Europe, the companies expect the updated shots to be available in the coming weeks for the autumn vaccination season. "We will be encouraging all Americans to get those boosters in addition to flu shots and RSV shots," the official said, referring to the Respiratory Syncytial Virus.

Persons: Emily Elconin, Biden, BioNTech, Steve Holland, Lisa Shumaker Organizations: REUTERS, Rights, White, for Disease Control, Pfizer, Thomson Locations: Waterford , Michigan, U.S, Moderna, United States, Europe

☆ Moderna's updated COVID vaccine effective against 'Eris' variant in humans
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

Vials of the Moderna COVID-19 vaccine are seen at Apotex pharmaceutical company as Humber River Hospital's mobile vaccine clinic vaccinate employees as part of the coronavirus disease (COVID-19) vaccination campaign, in Toronto, Ontario, Canada April 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsCompanies BioNTech SE FollowModerna Inc FollowNovavax Inc Follow Show more companiesAug 17 (Reuters) - Moderna (MRNA.O) said on Thursday an initial study data showed its updated COVID-19 vaccine to be effective against the "Eris" and "Fornax" subvariants in humans. Moderna and other COVID-19 vaccine makers Novavax (NVAX.O), Pfizer (PFE.N) and German partner BioNTech SE (22UAy.DE) have created versions of their shots aimed at the XBB.1.5 subvariant. Earlier on Thursday, Pfizer reported that its updated COVID-19 shot, co-developed with BioNTech, showed neutralizing activity against the Eris subvariant in a study conducted on mice. Eris, the nickname for EG.5, is similar to the XBB.1.5 subvariant and a sub-lineage of the still-dominant Omicron variant.

Persons: Carlos Osorio, BioNTech, Pratik Jain, Shilpi Majumdar Organizations: Moderna, REUTERS, Pfizer, EG, Omicron, World Health Organization, Thomson Locations: Humber, Toronto , Ontario, Canada, United States, Europe, U.S, Bengaluru

☆ Pfizer's updated COVID shot effective against 'Eris' variant in mice study
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

Pfizer, along with its German partner BioNTech SE (22UAy.DE), as well as other COVID-19 vaccine makers Moderna (MRNA.O) and Novavax (NVAX.O) have created versions of their shots, which are aimed at the XBB.1.5 subvariant. EG.5, nicknamed by some as "Eris", is similar to the XBB.1.5 subvariant and a sub-lineage of the still-dominant Omicron variant. EG.5 accounted for about more than 17% of COVID-19 cases in the United States, according to the latest government data. In the United States, COVID-19 related hospitalizations are up more than 40% off of recent lows hit in June, but are still more than 90% below peak levels hit during the January 2022 Omicron outbreak. Reporting by Pratik Jain in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Aluka Berry, BioNTech, Pratik Jain, Shilpi Majumdar Organizations: Dekalb Pediatric Center, REUTERS, Pfizer, Pfizer Inc, Moderna, EG, World Health Organization, Thomson Locations: Dekalb, Georgia, Decatur , Georgia, U.S, United States, China, South Korea, Japan, Canada, Bengaluru

☆ US FDA approves Pfizer's blood cancer therapy
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Johanna Geron/File PhotoAug 14 (Reuters) - The U.S. Food and Drug Administration on Monday granted accelerated approval to Pfizer's (PFE.N) therapy for treating patients with a type of blood cancer that is difficult to treat, the company said. Multiple myeloma is a common type of blood cancer, which develops in the bone marrow and can spread throughout the body. The FDA approval is based on data from a mid-stage study that showed that 58% of patients treated with Pfizer's therapy had no signs of cancer or had seen a significant decrease in cancer cells in the body. Pfizer said it will continue testing the therapy in ongoing late-stage trials to expand its use in earlier lines of treatment for patients. The therapy's approval comes with a boxed warning for neurologic toxicity and cytokine release syndrome, a condition where the immune system reacts more aggressively.

Persons: Johanna Geron, Epkinly, Johnson, Pfizer's, Bhanvi Satija, Leroy Leo, Pratik, Shounak Dasgupta Organizations: Pfizer, REUTERS, U.S . Food, Drug Administration, FDA, Thomson Locations: Puurs, Belgium, U.S, Bengaluru

☆ Covid Eris: What to know about new variant EG.5 dominating U.S. cases
▼ + stars: | 2023-08-14 | by ( Michael Erman | ) www.reuters.com time to read: +2 min

NEW YORK, Aug 14 (Reuters) - COVID infections and hospitalizations are on the rise in the U.S., Europe and Asia. Health officials are pointing at the EG.5 "Eris" coronavirus, a subvariant of the Omicron lineage that originally emerged November of 2021. EG.5 had been found in more than 50 countries as of August 8, according to the WHO. It is the most common and fastest growing COVID-19 subvariant in the U.S., estimated to be responsible for around 17% of current COVID cases, according to the CDC. EG.5 is similar to XBB.1.5 although the newer subvariant carries one mutation to its spike protein, the part of the virus targeted by the vaccine.

Persons: Mandy Cohen, Cohen, Michael Erman, Caroline Humer, Diane Craft Organizations: Health, EG, Omicron, World Health Organization, WHO, CDC, Pfizer, Thomson Locations: U.S, Europe, Asia

☆ New Covid vaccines are on the way as 'Eris' variant rises
▼ + stars: | 2023-08-14 | by ( Michael Erman | ) www.reuters.com time to read: +5 min

Some public health experts hope that Americans will welcome the new shot as they would a flu jab. In the fall of 2022, by which time most people had either had the COVID virus or the vaccine, fewer than 50 million people got the shots. Its biggest rival, Moderna, conceded demand could be as few as 50 million shots. POST PANDEMIC VACCINEThe COVID public health emergency ended in May and the government has handed much of the duty of vaccinating America to the private sector. As with the flu, Pfizer (PFE.N)/BioNTech SE (22UAy.DE), Moderna (MRNA.O) and Novavax (NVAX.O), have created versions of the COVID vaccine to try to match the variant they believe will be circulating this fall.

Persons: Dado Ruvic, Ashley Kirzinger, Kirzinger, BioNTech, Jefferies, Michael Yee, " Yee, Mandy Cohen, William Schaffner, Schaffner, David Boulware, Michael Erman, Caroline Humer, Diane Craft Organizations: REUTERS, CVS Health, Family, Reuters, Pfizer –, Moderna, Pfizer, U.S . Centers for Disease Control, Prevention, CDC, U.S . Food, Drug Administration, EG, Vanderbilt University, University of Minnesota, Thomson Locations: U.S, America, United States, COVID, CDC's

☆ These 10 medications are likely targets for Medicare price negotiations this fall
▼ + stars: | 2023-08-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Though it is still unclear which 10 drugs Medicare will select, several pharmaceutical companies have already revealed in court filings that they expect four of their blockbuster medications to be targeted. Bristol-Myers Squibb and Johnson & Johnson , in separate filings, said their blood thinners Eliquis and Xarelto will be subject to the negotiations this year. The list price of Januvia has surged 275% since 2006, according to the AARP. Johnson & Johnson reported $2.47 billion in revenue from Xarelto. "More and more people face cost-sharing that is directly affected by drug price increases," Leigh Purvis, who analyzes health-care costs for AARP, told reporters on a call Thursday.

Persons: Daniel Acker, Merck, Johnson, Abbvie, Imbruvica, Jardiance, Boehringer Ingelheim, Amgen Symbicort, Pfizer Xtandi, Breo, Biden, Januvia, Eliquis, Xarelto, Leigh Purvis Organizations: Merck, Co, Inc, Bloomberg, Getty, Medicare, Services, Myers Squibb, Johnson, Pharmacy, AstraZeneca Ibrance, Pfizer, Astellas Pharma, GSK, AARP, Bristol Myers Squibb, Jama Network, Industry Locations: Bristol, U.S, Januvia, Xarelto

☆ With Eris on the rise, US CDC sees no major shift in COVID variants
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

Updated vaccines should be available by mid- to late September, she said. The vaccines still need to be authorized by the U.S. Food and Drug Administration and the CDC needs to make its recommendations, she said. "We are likely to see this as a recommendation as an annual COVID shot just like we have an annual flu shot," she said. Pfizer (PFE.N)/BioNTech SE (22UAy.DE), Moderna (MRNA.O) and Novavax (NVAX.O) have all said they expect to have supplies of the updated vaccine ready for the roll out this autumn. Eris is the fasting-growing COVID-19 subvariant in the U.S., estimated to be responsible for around 17% of current COVID cases, according to the CDC.

Persons: Mandy Cohen, Biden, Andy Slavitt's, we've, Cohen, Michael Erman, Lisa Shumaker Organizations: EG, U.S . Centers for Disease Control, U.S . Food, Drug Administration, Pfizer, World Health Organization, CDC, Thomson Locations: United States, China, U.S, New York

A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. The increasingly popular Wegovy has transformed the weight-loss market since its U.S. launch in June 2021, capturing the attention of patients, investors and celebrities worldwide. Novo's news lifted shares in Europe's second-most valuable listed company after LVMH (LVMH.PA) by more than 17% to record highs. Novo said the eagerly-awaited study results, which have not been peer reviewed, showed that patients on Wegovy had a 20% lower incidence of heart attack, stroke or death from heart disease compared to those on a placebo. Lilly's shares rose nearly 15% in early U.S. trading, boosted by its upbeat quarterly results and Novo's trial data.

Persons: Jim Vondruska, Novo, Wegovy, Jeff Levin, Willis, Willis Towers Watson, Martin Holst Lange, Novo's, Eli Lilly, Mounjaro, Soren Lontoft Hansen, Maggie Fick, Nikolaj Skydsgaard, Jacob Gronholt, Ludwig Burger, Patrick Wingrove, Terje Solsvik, Josephine Mason, Sharon Singleton, Kirsten Donovan, Jan Harvey, Alexander Smith Organizations: REUTERS, COPENHAGEN, Novo Nordisk, Willis Towers, U.S, Union, Pfizer Inc, Amgen Inc, World Health Organization, Barclays, Reuters, Pedersen, Thomson Locations: Chicago , Illinois, U.S, LONDON, Europe's, Europe, United States, Novo, Wegovy, Germany, Denmark, Norway, Copenhagen, Frankfurt, New York, Oslo

REUTERS/Wolfgang Rattay/File PhotoFRANKFURT, Aug 7 (Reuters) - Germany's BioNTech (22UAy.DE), Pfizer's (PFE.N) partner on COVID-19 vaccines, cut its drug development budget for this year after quarterly revenues were hurt by a plunge in pandemic-related demand. The quarterly net loss was 190 million euros, down from a COVID-19-fuelled profit of 1.67 billion euros a year earlier. The company said it cut its projected research and development (R&D) budget for this year to between 2 and 2.2 billion euros, down from between 2.4 and 2.6 billion euros previously forecast. R&D expenditures were 1.54 billion euros last year. BioNTech reaffirmed its outlook for COVID-19 vaccine revenues to reach about 5 billion euros in 2023, down from 17.2 billion euros last year, expecting a renewed sales boost from an inoculation campaign in the fall.

Persons: Wolfgang Rattay, Jens Holstein, BioNTech, Ludwig Burger, Miranda Murray, Friederike Heine, Louise Heavens Organizations: REUTERS, Pfizer, Thomson Locations: Mainz, Germany

☆ 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

☆ Gloomy data makes investors more cautious on world economy
▼ + stars: | 2023-08-01 | by ( Lawrence Delevingne | Thomson Reuters | Delevingne Works Primarily On Enterprise Stories Related To Finance. He Joined Reuters In | ) www.reuters.com time to read: +4 min

[1/3] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. European stocks (.STOXX) fell 0.9%, stepping back from a 2% increase in July, the index's second month of gains. UK stocks (.FTSE) also fell 0.4%, though HSBC (HSBA.L) climbed 1.3% after announcing a $2 billion share buyback and raising its key profitability target. U.S. Treasury yields rose on Tuesday with 30-year paper touching a new year-high as investors expected an increase in government debt issuance and anticipated more signs of economic resilience, despite data showing a slowdown in activity. China's stumbling post-pandemic recovery remained in focus, for instance, after a surprise contraction in manufacturing in a private-sector survey released Tuesday.

Persons: Brendan McDermid, Michael Hewson, Ronald Temple, Brent, Lawrence Delevingne, Tom Wilson, Kevin Buckland, Angus MacSwan, Susan Fenton, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Dow Jones, Nasdaq, Merck & Co, Pfizer, Caterpillar Inc, HSBC, . Federal, CMC Markets, U.S, Lazard, Fed, Energy, BP, Bank of, Thomson Locations: New York City, U.S, China, Asia, Boston, London, Tokyo

Search resuls for: "PFE"

25 mentions found