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☆ Bristol Myers' injectable form of Opdivo meets main goal in kidney cancer trial
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Test tubes are seen in front of a displayed Bristol Myers Squibb logo in this illustration taken, May 21, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 19 (Reuters) - Bristol Myers Squibb (BMY.N) said on Thursday the injectable form of its blockbuster cancer drug Opdivo met the main goal in trial that had patients with a type of kidney cancer. "We believe this new option, given as a single injection administered in less than five minutes, could transform the treatment experience for both patients and physicians," Gina Fusaro, an executive at Bristol Myers Squibb, said. The trial also showed a non-inferior response rate to the subcutaneous drug, compared to its intravenous form. Bristol Myers now plans to discuss with regulators the next steps for submission and approval of subcutaneous injections for multiple types of cancers.

Persons: Bristol Myers, Dado Ruvic, Opdivo, Gina Fusaro, Roche, Johnson, Helen Torley, Leroy Leo, Anil D'Silva, Shinjini, Shounak Organizations: Bristol, Bristol Myers Squibb, REUTERS, Therapeutics, U.S, Thomson Locations: Bengaluru

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

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

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

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

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

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

☆ Merck KGaA says MS drug has blockbuster potential; key data expected in December
▼ + stars: | 2023-10-19 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

Merck, seen as leading the race to win approval for a more targeted type of MS drug, said in April that U.S. regulators had paused enrolment of new patients into a trial testing the drug, evobrutinib, knocking the German drugmaker's share price. "The readout of our Phase 3 study is going to happen in December," she added of the pivotal study in the clinical trials process. Novartis (NOVN.S), also in the race, said in April that no signs of liver damage had been seen in trials testing its anti-inflammatory drug candidate remibrutinib so far. Roche (ROG.S) said in May that its BTK inhibitor against MS, reduced brain lesions associated with the disease in a mid-stage trial and that no new safety concerns had emerged. Reporting by Ludwig Burger Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Germany's Merck, Belen Garijo, ROG.S, Ludwig Burger, Bill Berkrot Organizations: Germany's, Merck, U.S . Food, Drug Administration, Reuters, Rivals, Sanofi, Novartis, Thomson Locations: FRANKFURT, U.S, Darmstadt

☆ Roche's Q3 sales down 3% on currency headwinds, drop in COVID sales
▼ + stars: | 2023-10-19 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

Quarterly sales came in at 14.3 billion Swiss francs ($15.9 billion), the Swiss drugs and diagnostics maker said in a statement, broadly in line with analyst estimates. A high-dose version of Eylea for less frequent injections won U.S. approval in August, creating doubt among analysts that a string of forecast-beating Vabysmo sales can continue. CEO Thomas Schinecker - who is keen to restore Roche's drug development record - said he was looking to acquire drug assets in all stages of development but that there was no rush. He pointed to 10% sales growth during the quarter, excluding currency headwinds and the slump in COVID sales. However, it predicted a less pronounced decline in sales of COVID-19 products of about 4.5 billion Swiss francs, from a previous estimate of a drop of 5 billion francs.

Persons: drugmaker Roche, Arnd, Roche, Regeneron, Thomas Schinecker, Schinecker, Ludwig Burger, Friederike Heine, Elaine Hardcastle Organizations: REUTERS, Bayer, Thomson Locations: Basel, Switzerland, COVID, Swiss

Scientists are setting out to collect genetic material from 500,000 people of African ancestry to create what they believe will be the world’s largest database of genomic information from the population. The initiative was launched Wednesday by Meharry Medical College in Nashville, Tennessee, as well as Regeneron Genetics Center, AstraZeneca, Novo Nordisk and Roche. Organizers said there’s a clear need for the project, pointing to research showing that less than 2% of genetic information being studied today comes from people of African ancestry. Each of the pharmaceutical companies involved intends to contribute $20 million toward the genetic and educational parts of the effort. ___The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group.

Persons: Meharry, ”, Anil Shanker, Lyndon Mitnaul Organizations: Meharry Medical College, Genetics Center, AstraZeneca, Novo Nordisk, Roche, Genomics Institute, Organizers, Regeneron Genetics, University of Zambia, Project, Genetics, Corporate, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Nashville , Tennessee, Americas, Asia, Europe, Nashville, U.S, Africa, Meharry

☆ Blood tests needed for widespread Alzheimer's diagnosis on the way
▼ + stars: | 2023-10-11 | by ( Deena Beasley | ) www.reuters.com time to read: +6 min

Several Alzheimer's blood tests are in the works – and one is already being sold to consumers – but none have been established as accurate, formally approved by regulators or reimbursed by insurers. Researchers have been working for years on blood tests for Alzheimer's that can replicate these diagnostic tools. The need for blood tests has become more pressing since the FDA approved Leqembi in July. Accurate blood tests are expected to help identify which dementia patients actually have Alzheimer’s, the most common but not the only cause of dementia. "When there are widely available, scalable, sensitive and specific blood tests it will be an absolute game changer for Alzheimer's patients."

Persons: Denis Balibouse, Eli Lilly, Dr, Sarah Kremen, Eliezer Masliah, Eisai, Michael Irizarry, Roche, Bruce Jordan, Russ Paulsen, Deena Beasley, Caroline Humer, Bill Berkrot Organizations: Memory Centre, of Readaptation, University Hospital, REUTERS, FDA, Sinai Medical Center, Wednesday, Quest Diagnostics, National Institute, Aging, U.S . National Institutes of Health, C2N Diagnostics, Roche Diagnostics, Alzheimer's Association, RAND, Thomson Locations: Geneva, Switzerland, Leqembi, Eisai, Los Angeles, U.S

☆ Novartis unit Sandoz starts trading at 24 Swiss francs after completing spinoff
▼ + stars: | 2023-10-04 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Novartis said in August that it plans to spin off its generics unit Sandoz to sharpen its focus on its patented prescription medicines. Novartis on Wednesday completed the spinoff of its generics and biosimilars business Sandoz, whose shares began trading at 24 Swiss francs in the early minutes of the company's debut on the SIX Swiss Exchange. The Swiss drugmaker initially announced intentions to spin off the business in August, offering stakeholders one Sandoz share for every five Novartis shares via a dividend-in-kind distribution. Pure play companies refer to entities that target a single product or industry sector. Novartis shares climbed more than 3% in early trade in Zurich to lead the pan-European Stoxx 600 index .

Persons: Sandoz, Narasimhan, we've, CNBC's Julianna Tatelbaum Organizations: Novartis, Wednesday, SIX Swiss Exchange, CNBC Locations: Swiss, Zurich

☆ Veteran investor David Roche has a contrarian call on grain prices, says prices will soar
▼ + stars: | 2023-10-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Grain prices have been in freefall of late as investors bet on a resurgence of supply from the U.S., Russia and Ukraine — but veteran strategist David Roche disagrees. Contrary to market consensus, Roche, president and global strategist at Independent Strategy, expects a 13-15% annual increase in wheat prices over the next two years. His comments come as wheat prices remain down around 29% year-to-date and at their lowest levels since September 2020, with short positions — bets that prices will fall — recently hitting a three-month high, according to a report from Independent Strategy. Corn prices are also trading around three-year lows while soybeans recently notched a four-year low. Meanwhile Russia, the world's largest grain exporter, has also produced large harvests which analysts expect to get through export blockades.

Persons: David Roche, Roche, CNBC's, we've Organizations: Independent, El Nino, U.S . Department of Agriculture Locations: Kramatorsk, Donetsk region, Ukraine, U.S, Russia, Mississippi

☆ BofA reveals the global stocks that tend to outperform when the U.S. dollar rises
▼ + stars: | 2023-09-29 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +1 min

The U.S. dollar index hit its highest level since March earlier this month, while its 50-day moving average is showing signs of surpassing its 200-day counterpart. European stocks to benefit Bank of America's screen captures European companies that would "tend to outperform" when the U.S. dollar index rises. They also had a "significant and positive slope from regression [against] the U.S. dollar index." "Over the past five years, Low Risk stocks, Energy and Norway have tended to outperform the most when the DXY index has been rising," she added. Elsewhere Dutch media house Wolters Kluwer , Italian energy player Tenaris and Finnish telecommunication services provider Nokia also appeared on the screen.

Persons: BofA's Paulina Strzelinska, Strzelinska, Wolters, — CNBC's Michael Bloom Organizations: U.S, Bank of America, The U.S, Bank, Energy, Bank of, Tobacco, Diageo, BP, Bayer, Roche, Wolters Kluwer, Nokia Locations: The, Europe, Norway, Novozymes, Denmark, Qiagen, Germany, Switzerland

☆ Pakistan probes distributors of Roche cancer drug after patients go blind
▼ + stars: | 2023-09-25 | by ( Mubasher Bukhari | ) www.reuters.com time to read: +3 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsLAHORE, Pakistan, Sept 25 (Reuters) - Pakistan said on Monday it was investigating two local distributors of Swiss pharmaceutical company Roche's (ROG.S) Avastin cancer drug after 12 diabetic patients injected with the drug went blind. The Drug Regulatory Authority of Pakistan (DRAP) said the health authorities in Punjab, the most populous province, had launched the investigation into local use of the drug Avastin, which is licensed for use in Pakistan. On its website, Roche said Avastin was approved in more than 130 countries, including the United States, to treat several types of cancer. Cancer drug Avastin, when used at much lower doses, is similar to eye drug Lucentis and is used in many countries as a low-cost option to treat certain blindness-causing conditions. In its statement, Roche said: "Avastin is not approved for any use in the eye.

Persons: drugmaker Roche, Arnd, Javed Akram, Akram, Roche, Avastin, Alam, Mubasher Bukhari, Ariba Shahid, Ludwig Burger, Miral Fahmy, Alex Richardson Organizations: REUTERS, Rights, Drug Regulatory Authority of Pakistan, Reuters, U.S ., Thomson Locations: Basel, Switzerland, Rights LAHORE, Pakistan, Swiss, Punjab, United States, counterfeits, Avastin, Lahore, Karachi, Frankfurt

A few compounds picked by AI are now in development, but those bets will take years to play out. Reuters interviews with more than a dozen pharmaceutical company executives, drug regulators, public health experts and AI firms show, however, that the technology is playing a sizeable and growing role in human drug trials. The U.S. Food and Drug Administration (FDA) said it had received about 300 applications that incorporate AI or machine learning in drug development from 2016 through 2022. Without AI, Bayer said it would have spent millions more, and taken up to nine months longer to recruit volunteers. Finding real-world patients by mining electronic patient data can be done manually, but using AI speeds up the process dramatically.

Persons: Dado Ruvic, Jeffrey Morgan, Amgen, Badhri Srinivasan, Sameer Pujari, drugmaker Bayer, Bayer, Blythe Adamson, Roche, Richard Pazdur, Gen Li, John Concato, Natalie Grover, Martin Coulter, Julie Steenhuysen, Josephine Mason, David Clarke Organizations: Pharmaceutical Research, REUTERS, Pharmaceutical, Bayer, Novartis, Deloitte, U.S . Food, Drug Administration, Reuters, World Health, Flatiron Health, FDA, European Medicines Agency, FDA's Oncology, Excellence, Medical, FDA's Center, Drug, Research, Thomson Locations: U.S, Johannesburg, Texas, Finland, United States, London, Chicago

The logo of Swiss contract drug maker Lonza is seen at its headquarters in Basel, Switzerland October 1, 2020. Shares in Lonza, which makes drug ingredients for healthcare and biotech companies, dropped 5.3% shortly after the 0700 GMT market open, trading near an eight-month low. A former Roche executive who joined Lonza in 2020, Ruffieux oversaw the company's role in producing COVID-19 vaccines for Moderna (MRNA.O) during the pandemic. "Today’s announcement increases our conviction that the new mid-term targets will not include an acceleration in growth," they said. Lonza did not provide a reason for Ruffieux's departure.

Persons: Arnd, Pierre, Alain Ruffieux, Lonza, Albert Baehny, Ruffieux, Morgan, Spokespeople, Merck KGaA, Noele, Ludwig Burger, Rachel More, David Goodman, Emelia Organizations: REUTERS, Monday, Ruffieux, Roche, Lonza, Moderna, Merck, Noele Illien, Thomson Locations: Basel, Switzerland, Swiss, Lonza, Zurich, Frankfurt

FRANKFURT, Sept 14 (Reuters) - Bayer's (BAYGn.DE) new CEO plans to cut management jobs to speed up decision-making as a first step to overhaul the embattled German industrial group, which is facing investor pressure to break up, three people familiar with the matter said. But the new CEO will likely have only a short respite period to come up with concrete strategic proposals. Anderson has been tasked with reviving Bayer's share price, which has underperformed rivals, weighed down by the lingering costs of U.S. weedkiller litigation. Anderson said last month he was not ruling out any options as part of his review of the company's strategy and structure, saying he was "leaving no stone unturned". He added he would provide an initial update in the coming months and detailed plans in early 2024.

Persons: Bill Anderson, Anderson, Roche, Oliver Kohlhaas, Kohlhaas, Werner Baumann, Ludwig Burger, Patricia Weiss, Emma, Victoria Farr, Josephine Mason, David Holmes Organizations: Bayer, McKinsey, Artisan Partners, Reuters, Bluebell Capital Partners, Thomson Locations: FRANKFURT, Frankfurt

☆ Bill Ackman's first stock was Wells Fargo – and Warren Buffett was a big reason why he bet on the bank
▼ + stars: | 2023-09-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Bill Ackman's first stock was Wells Fargo, and Warren Buffett was a key factor in his choice. Ackman determined Wells Fargo, which counted Buffett as a big shareholder, was oversold at the time. "My first actual investment was I bought Wells Fargo stock," Ackman recalled. "I had already started following Warren Buffett, and he was a big shareholder at a much higher price." Moreover, Buffett's Berkshire Hathaway had taken a position in Wells Fargo the previous year.

Persons: Bill Ackman's, Wells Fargo, Warren Buffett, Ackman, Buffett, Pershing, Julia La Roche, they'd, Justin Sullivan, Wells, Berkshire Hathaway, Warren Buffett imprimatur Organizations: Wells, Service, Harvard Business School, Harvard, Bank Locations: Wells, Wall, Silicon, Wells Fargo

☆ Bill Ackman predicts more pain for regional banks and commercial real estate, touts Elon Musk's X, and touches on AI and the federal debt in a new interview. Here are his 6 best quotes.
▼ + stars: | 2023-09-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Bill Ackman predicts more pain for regional banks and commercial real estate as interest rates bite. Ackman warns AI will be hugely disruptive, and predicts Elon Musk's X will ultimately succeed. "The commercial real estate picture has not gotten better. You're going to start seeing real defaults, particularly with office assets. The pressure on the regional banking system — you're going to start to see more of it come now on the commercial real estate side."

Persons: Bill Ackman, Elon Musk's, Ackman, Julia La Roche, Elon, We've, it's, Elon Musk Organizations: Pershing Square, Service, Twitter Locations: Wall, Silicon, Elon Musk's

A view of the United Nations Climate Change Conference flags at the venue, in Bonn, Germany, June 6, 2023. "What we want to see, all of us, is a real sense of urgency about reducing CO2 emissions," Roche Vice-Chair Andre Hoffmann said. We need to show action, and I'm not sure that what I've read so far of the COP28 will be strong enough for that." Despite rapidly falling prices for renewable energy, Roche's (ROG.S) Hoffmann said much faster action was needed. "If the change is going to be that big then financial institutions, business people will reshape and they'll say my goodness there's going to be new technological institutions, there's going to be new factories, there's going to be a new economy.

Persons: Jana Rodenbusch, Hoffmann, November's, Roche, Andre Hoffmann, I'm, Eelco van der Enden, Elvis Presley, it's, Celine Herweijer, we've, Herweijer, It's, Andrew Steer, Steer, Richa Naidu, Gloria Dickie, Clara Denina, Iain Withers, Helen Reid, Alexander Smith Organizations: United Nations, REUTERS, Reuters IMPACT, Global, HSBC, Reuters, Fund, Thomson Locations: Bonn, Germany, Asia, Dubai, American, Paris

“With us, you know what you get, which is rare nowadays!” Alexandre Edelmann, head of Presence Switzerland, a government agency that promotes the country abroad, says in an email. “People love our country without always knowing why,” says Jacques Pitteloud, Switzerland’s ambassador to the U.S. and a veteran diplomat. We are constantly leading the pack in terms of innovation.”This is evident in the prominent role Switzerland plays in some key areas of the global economy. Acknowledging "the elephant in the room," Pitteloud says Switzerland and the EU have "a complex relationship." And as a relatively small, landlocked country in which many areas are difficult to inhabit due to terrain, Switzerland is facing challenges related to population and resources.

Persons: Roger Federer, Philippe, –, Alexandre Edelmann, ”, Jacques Pitteloud, Pitteloud, ” Delphine Donné, Ruag, yearslong, ” Georg Klingler, Donné Organizations: Wimbledon, U.S . News, European Union, Bank, Presence Switzerland, Nestle, Roche, Novartis, Atlas, Logitech, ETH Zurich, Zurich University of Applied Sciences, EU, Greenpeace, Associated Press Locations: Switzerland, Europe, U.S, Swiss, France, China, Canada, Lausanne, Ukraine, Greenpeace Switzerland

☆ David Roche on Japan's yield curve control policy
▼ + stars: | 2023-09-01 | 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 EmailDavid Roche: Japan conducts policy like a 'tea ceremony', exit from yield curve control 'overdue'David Roche of Independent Strategy shares his view on Japan's monetary policy and outlook on Yen.

Persons: David Roche Organizations: Independent Strategy Locations: Japan

☆ England to rollout world-first seven-minute cancer treatment jab
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Boxes of Tecentriq from Genentech are seen at the Huntsman Cancer Institute at the University of Utah in Salt Lake City, Utah, U.S., July 22, 2022. REUTERS/George Frey/File Photo Acquire Licensing RightsAug 29 (Reuters) - Britain's state-run national health service will be the first in the world to offer an injection that treats cancer to hundreds of patients in England which could cut treatment times by up to three quarters. The treatment is currently offered by transfusion to NHS patients with a range of cancers, including lung, breast, liver and bladder. NHS England said it expected the majority of around 3,600 patients starting the treatment of atezolizumab every year in England to switch onto the time-saving injection. But added that patients receiving intravenous chemotherapy in combination with atezolizumab may remain on the transfusion.

Persons: George Frey, Dr Alexander Martin, atezolizumab, Marius Scholtz, Genentech, Roche, Farouq Suleiman, Sandra Maler Organizations: Huntsman Cancer Institute, University of Utah, REUTERS, Medicines, Healthcare, Agency, Foundation Trust, Roche Products, Thomson Locations: Genentech, Salt Lake City , Utah, U.S, England, West Suffolk

☆ Exclusive-Bayer investor Artisan calls for breakup of company
▼ + stars: | 2023-08-25 | by ( Richa Naidu | Ludwig Burger | ) www.reuters.com time to read: +4 min

Artisan wants the drugs-to-pesticides company to find new owners for its over-the-counter and pharmaceutical units, it said. Before taking over as CEO, Anderson said he was keeping an open mind on whether to break up the company. Artisan is Bayer’s 16th biggest investor, according to Refinitiv data. Samra said the chairman of Bayer’s supervisory board, Norbert Winkeljohann, has not directly written a letter back to Artisan, but said Artisan had “been in contact” with the company. Samra said Artisan “has not suggested specifically how (Bayer) should restructure their business” in the letter.

Persons: “, Wolfgang Rattay, Bill Anderson, Roche, Anderson, ” David Samra, Bayer, ” Samra, they’re, ” Bayer, Werner Baumann, Samra, Norbert Winkeljohann, China’s Syngenta, Johnson Organizations: Bayer, Artisan Partners, Reuters, Bayer AG, REUTERS, Bluebell Capital Partners, Artisan, Artisan’s, Science, pharma, Johnson, GSK Locations: Leverkusen, Germany, Swiss

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Traders in the U.S. equity options market are bracing for a larger-than-usual swing in Nvidia shares following the chipmaker's earnings, which are due after markets close on Wednesday. ET, Dow e-minis were up 34 points, or 0.1%, S&P 500 e-minis were up 4.25 points, or 0.1%, and Nasdaq 100 e-minis were up 4.75 points, or 0.03%. Peloton Interactive (PTON.O) shares plunged 27% after the fitness equipment maker forecast first-quarter revenue below estimates. Reporting by Amruta Khandekar and Shristi Achar A; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Foot, Susannah Streeter, Hargreaves Lansdown, Jerome Powell, Roche, Armour, Amruta Khandekar, Shinjini Organizations: New York Stock Exchange, REUTERS, Nvidia, Sports, Dow, Nasdaq, Wall, Hargreaves, Traders, Reuters, Federal Reserve, Treasury, Dow e, Biosciences, Merck & Co, Sport, Nike, Thomson Locations: New York City, U.S, Swiss

BERLIN, Aug 23 (Reuters) - Roche (ROG.S) inadvertently published positive lung cancer drug trial data from an interim analysis, boosting the Swiss drug maker's shares even though more data will be needed to confirm the treatment's efficacy. Roche said on Wednesday that market participants had made it aware of the inadvertent disclosure of an interim data analysis on new immunotherapy tiragolumab, part of an experimental class of drugs known as anti-TIGIT. The data lifted Roche shares by 5% and sent shares of other companies testing anti-TIGIT drugs higher. J.P. Morgan analysts said the interim data suggested a survival benefit was within reach in the final analysis, but the clinical relevance remained uncertain. The unintended disclosure regards the second interim analysis of a Phase III trial known as Skyscraper 1.

Persons: Roche, tiragolumab, Morgan, Roche's, TIGIT, Paul Arnold, Christy Santhosh, Jason Neely, Friederike Heine, Mark Potter Organizations: Merck & Co, Gilead Sciences, iTeos Therapeutics, Arcus Biosciences, Thomson Locations: U.S, Zurich, Bengaluru

☆ Analog Devices' fourth-quarter forecasts disappoint as consumer demand weakens
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 23 (Reuters) - Analog Devices (ADI.O) forecast fourth-quarter revenue below Wall Street targets on Wednesday, in a sign that the chip industry inventory glut, fueled by weak consumer demand, might prevent fresh orders from flowing in. U.S.-based Analog Devices projected fourth-quarter revenue of $2.70 billion, plus or minus $100 million, compared with analysts' average estimate of $3.01 billion, according to Refinitiv data. Rival Texas Instruments (TXN.O) also forecast third-quarter revenue below market estimates as weak consumer demand prompted electronics makers to be cautious about buying chips. Analog Devices also forecast fourth-quarter adjusted earnings of $2 per share, plus or minus 10 cents, below analysts' estimate of $2.39 per share profit. Its third-quarter revenue fell about 1% to $3.08 billion, missing estimates, weighed by the consumer sector.

Persons: Dado Ruvic, Vincent Roche, Arsheeya, Shilpi Majumdar Organizations: REUTERS, Research, Devices, Texas, ON Semiconductor, NXP Semiconductors, Thomson Locations: China, Vincent Roche ., Bengaluru

☆ How soaring demand for Ozempic and Wegovy is altering Denmark’s economy
▼ + stars: | 2023-08-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

Its maker, Novo Nordisk (NONOF), has raked in almost 49 billion Danish krone in profit ($7 billion) over the first six months of this year, up 32% from the same period in 2022. Novo Nordisk also produces Ozempic, a drug developed to treat type 2 diabetes but which contains the same active ingredient as Wegovy. Surging demandShares in Novo Nordisk have soared 34% since the start of 2023 to give the company a market capitalization of 2.2 trillion Danish krone ($322 billion). The stock shot up earlier this month after Novo Nordisk published the results of a five-year trial on the impact of Wegovy on cardiovascular disease. Novo Nordisk now expects its profits to grow by up to 37% this year, much higher growth than the maximum 19% rise it forecast in February.

Persons: Jens Naervig Pedersen, Pedersen, Jaap Arriens, ” Pedersen, “ We’ve, Andrew Kenningham, “, juggernauts Roche Organizations: London CNN, Nordic, Novo Nordisk, Danish, Danske Bank, European Central Bank, CNN, Capital Economics, AstraZeneca, Kaiser Family Foundation Locations: United States, Denmark, Danish, Europe

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