pharmaceuticalcompanies
Pharmaceutical giant AstraZeneca reported its first quarter 2024 earnings on Thursday, seeing extremely robust earnings per share (EPS) and revenue growth. This was mainly due to continuously growing partner drug sales, as well as increasing demand for the company’s best-selling medicines. Total revenue soared 19% to $12,679 million (€11,818.1 million) year-on-year, primarily boosted by an 18% growth in product sales. Total revenue for oncology jumped 26%, with respiratory and immunology revenue rising 17% and cardiovascular, renal and metabolism revenue inching up 23%. Rare disease revenue ad...
Euronews (English)
The EU has faced recent shortages of various critical drugs, including paracetamol and some antibiotics, due to a range of supply-chain issues, from low production capacity to shortages in key raw materials combined with a rise in demand across the bloc. During the launch of the Alliance in Brussels (24 April), Health Commissioner Stella Kyriakides said that though shortages are not a new phenomenon, they have been exacerbated by the COVID-19 pandemic and geopolitical challenges. “We have to be able to anticipate possible disruptions for the future, to boost our strategic autonomy and also ens...
Euronews (English)
In April 2023 the European Commission proposed new pharmaceutical legislation updating an existing 20-year-old measure and designed to offer patients equitable access to medicines and to boost the role of the industry across the bloc. The key features of the proposed new rules are the reduction in IP protection periods, the introduction of a new system of incentives aiming to boost EU R&D, and efforts to tackle drug shortages in the bloc. However, hidden in the large number of amendments, members of the Parliament deleted exemptive wording from the original proposal regarding contraceptives an...
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The EMA has only lately started to look more into the issue of shortages – particularly in public health emergencies or during so-called major events – after an extension of its mandate in 2022 to improve the agency's role in crisis preparedness. National and EU regulators still heavily rely on information they receive from private companies, however, when assessing supply vulnerabilities. “We have to encourage greater transparency because the only way to help mitigate [shortages] is if we understand. And we can only understand if we know,” EMA boss Cooke said. The need to keep information flo...
Euronews (English)
Pharmaceutical giant Novo Nordisk is to take over German biotech company Cardior Pharmaceuticals in a deal worth up to €1.025 billion. The latter, which works mainly on cardiovascular cures, will lay the foundation for Novo Nordisk to expand into the heart disease sector. Novo Nordisk, of weight loss drug Wegovy and diabetes drug Ozempic fame, recently became Europe's biggest company, with a market capitalisation of about DKK 3.05 trillion (€0.41 trillion). The company also accounts for almost 50% of global insulin production. At the time of writing, the company's shares were trading at around...
Euronews (English)
In April 2023 the European Commission proposed new pharmaceutical legislation designed to offer patients equitable access to medicines and to boost the role of the industry across the bloc. As one of the key aspects of the proposal is to make medicines more available, affordable and accessible, the Commission presented new incentives to support innovating companies by increasing regulatory protection of rights over their products. "Learning from the COVID-19 pandemic, this law will make the regulatory framework more efficient by shortening the duration for marketing authorisation and creating ...
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European lawmakers will seek stronger protection for trade secrets of pharmaceutical companies in talks with EU ministers on new compulsory licensing legislation after a plenary vote on their negotiating mandate held this week. New rules were proposed by the European Commission in April to give the bloc a single instrument for compulsory licensing. Negotiations to approve the final legislative text will start once EU ministers will finalise their own amendments to the commission’s proposal. Governments may grant compulsory licenses in exceptional circumstances allowing use of protected inventi...
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Pharmaceutical giant Novo Nordisk has recently overtaken electric vehicle maker Tesla, in terms of market valuation, following upbeat initial trial data for a new obesity drug. Novo Nordisk, already well known for the popular obesity drug Wegovy, had a market valuation of about $566 billion (€517.6 billion), on Thursday, as shares rose about 8%. That is more than companies such as Tesla and Visa, according to London Stock Exchange Group (LSEG) data. It also surpassed LVMH as Europe's biggest company in terms of market valuation last year. Following the launch of Wegovy in June 2021, Novo Nordi...
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Denmark's gross domestic product (GDP) grew 2% in the fourth quarter of 2023, largely bolstered by the country's expanding pharmaceutical sector. Denmark's statistical office said on Tuesday that the stellar growth in Q4 meant that GDP growth for the entire year stood at 1.8%, and that it had revised GDP growth in the third quarter to an increase of 0.4%, shooting up from a previously estimated 0.7% fall. The pharmaceutical industry is the "driving force" behind the growth, Danmarks Statistik said, as Danish companies such as Novo Nordisk continue to go from strength to strength. Novo Nordisk ...
Euronews (English)
Excess demand over supply is typically a scenario any business would welcome, yet Lars Fruergaard Jørgensen, CEO of Novo Nordisk, is currently grappling with a significant strategic challenge. With a market capitalisation of over €500 billion, Novo Nordisk has emerged as Europe's foremost company, outperforming the luxury empire of LVMH, led by Bernard Arnault. The cornerstone of Novo Nordisk's remarkable rise? Its flagship anti-obesity medications, Wegovy and Ozempic. Both drugs contain semaglutide, a GLP-1 receptor antagonist, promoted for obesity management by the European Medicines Agency ...
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