pharmaceutical
New York (United States) (AFP) - Pfizer reported a drop in profits on lower sales of Covid-19 related profits Wednesday as it steers investments to other pharmaceutical areas and implements previously announced cost cuts. Much lower sales of Covid-19 vaccine Comirnaty and therapeutic Paxlovid accounted for a 20 percent drop in first-quarter revenues to $14.9 billion compared with the year-ago period. Profits were $3.1 billion, down 44 percent. The drugmaker pointed to increased sales of oncology products, in part driven by the acquisition of Seagen, which was completed in December. Other produ...
AFP
Tokyo (AFP) - Le ministère de la Santé japonais a annoncé mardi un nouveau bilan de 157 hospitalisations possiblement liées au scandale des compléments alimentaires qui touche le Japon depuis quelques jours. Ce chiffre marque une hausse du nombre de victimes potentielles du complément alimentaire anticholestérol contenant de la levure de riz rouge et commercialisé par le groupe japonais Kobayashi Pharmaceutical, qui a confirmé ce bilan sans donner plus de détails. Vendredi, le groupe pharmaceutique avait annoncé enquêter sur cinq décès et précisé que 114 personnes, souffrant notamment de probl...
AFP (Français)
Washington (AFP) - The US government said it was making initial offers to drugmakers Thursday as part of Medicare negotiations meant to lower the prices many older Americans would pay for 10 medicines. The move comes as President Joe Biden pushes to rein in health care costs ahead of November's election. The negotiation program came on the back of Biden's landmark Inflation Reduction Act, a major package of energy transition policy and social reforms. This allowed Medicare, the federal health insurance for seniors, to start negotiating drug costs -- a first in its nearly 60-year existence. "Th...
AFP
New York (AFP) - Pfizer issued a disappointing 2024 forecast Wednesday, denting shares as the company navigates a profound plunge in sales tied to the Covid-19 pandemic. The company, which reported more than $100 billion in revenue in 2022 due to the lift from Covid-19 vaccine and therapeutic sales, sees 2024 revenues of between $58.5 billion and $61.5 billion, according to its presentation. Pfizer signaled it expects 2024 profits to be dented by an estimated 40 cents per share in costs to finance its acquisition of Seagen. Shares plunged more than eight percent in late-morning trading follo...
AFP
New York (AFP) - Pfizer announced Tuesday that it expects to complete this week its $43 billion acquisition of cancer-focused biotech company Seagen after clearing key regulatory hurdles. "Pfizer and Seagen have now received all required regulatory approvals," Pfizer said in a news release that reported a key US antitrust waiting period had expired. "Pfizer expects to close the acquisition of Seagen on December 14." The big US drugmaker announced the transaction on March 13, pointing to Seagen's prominence in innovative cancer treatment. The purchase of Seagen "is good for patients in the batt...
AFP
Washington (AFP) - Like many Americans struggling to lose weight, Marissa Montanino felt compelled to try Ozempic or one of the other new so-called "wonder drugs" described as revolutionary in the fight against obesity. "I would work out sometimes three times a day, I was doing hours worth of classes. I was eating really, really clean… and nothing was changing" the 36-year-old esthetician told AFP in a recent interview. "I heard about Ozempic for a while and then you start to see other people doing it like celebrities and then dropping weight super fast," she said. Fearing gastrointestinal iss...
AFP
New York (AFP) - The US pharmaceutical giant Pfizer sharply scaled back its earnings outlook for the year, blaming lower-than-expected sales of two drugs used to treat Covid-19, the company said Friday. It now "anticipates full-year 2023 revenues to be in the range of $58.0 to $61.0 billion, versus its previous guidance range of $67.0 to $70.0 billion," Pfizer announced in a statement. Earnings per share - the benchmark for the markets - should come in at between 1.45 and 1.65 dollars, compared with 3.25 to 3.45 dollars previously anticipated. The cut to Pfizer's guidance was "solely due to i...
AFP
Washington (AFP) - Drugs like Ozempic, which have become increasingly popular for losing weight, heighten the risk of certain severe gastrointestinal problems including stomach paralysis, according to a large study published Thursday. The paper, published in the Journal of the American Medical Association (JAMA), looked at a class of drugs called GLP-1 agonists that includes the brands Wegovy, Ozempic, Rybelsus and Saxenda. It then compared the rate of serious side effects to another class of weight loss drug, bupropion-naltrexone. The GLP-1 agonists were associated with an almost four times ...
AFP
Washington (AFP) - Major drugmakers have grudgingly agreed to negotiate on reducing prices for 10 medicines, the White House said Tuesday, a key element in President Joe Biden's push to lower healthcare costs ahead of the 2024 election. Under the initiative, the federal government is using new powers to negotiate the prices of drugs covered by Medicare, the massive health insurance program for people 65 and older. Biden's landmark Inflation Reduction Act (IRA), the major legislative package of energy transition policy and social reforms he signed last year, allowed Medicare to begin negotiatin...
AFP
Washington (AFP) - The US Supreme Court threw Purdue Pharma's $6 billion opioids settlement into question Thursday, accepting a challenge to the deal's immunizing the Sackler family, which controlled the drugmaker, from future litigation. The court agreed to hear the Justice Department's challenge, which argued that the Sacklers, who earned tens of billions of dollars flooding the country with highly addictive opioids, could not legally gain sweeping protection in the settlement. The high court set a December 2023 date for hearing the case, meaning a much longer wait for states and communities...
AFP
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