In contrast to its previous prediction of a 2% growth in sales for the year, it now anticipates a low-single-digit percentage decline in revenue in 2023.
The success of the eye medication lessens Roche’s declining revenue. Roche reported a 14% fall in first-half core operating profit as sales of COVID-19 medicines dropped dramatically, although the company’s successful launch of a new eye treatment offset the decline.
Roche CFO highlights the need to support late-stage drug research. According to Roche’s finance head on Thursday, the Swiss pharmaceutical company needs better drugs in advanced phases of development to restore its damaged stock market value. “The setbacks we experienced in the late-stage pipeline last year are the point,” In a news conference, CFO Alan Hippe stated, “We now have to fill the pipeline again and demonstrate to ourselves that we have a solid late-stage pipeline.
Roche: Certain trials have been discontinued due to U.S. drug pricing plans.
Due to anticipated price reductions in the most popular prescription drugs in the United States, Roche claimed it had abandoned some drug development initiatives or acquisitions under consideration. CEO Thomas Schinecker said the Swiss company was not leading any legal action against the American government project under the Inflation Reduction Act (IRA) because other significant drugmakers were much more severely impacted, but that its work on new drugs was still affected, in a media call following the release of the first-half results.
Failures in sterile safety afflict the Wegovy weight-loss injection factory.
A Reuters analysis of regulatory data reveals that the manufacturer that fills the self-injection pens for the popular weight-loss medicine Wegovy has regularly violated American sterile safety regulations recently, and staff members need to carry out necessary quality inspections. According to comprehensive FDA reports on the inspections, obtained by Reuters under freedom of information laws, the breaches at Catalent, the Wegovy pen filler, were discovered by inspectors from the U.S. Food and Drug Administration who visited the plant in Brussels in October 2021 and August 2022 to assess its compliance with manufacturing regulations.
Exclusive: U.K. looks into Saxenda, a weight-loss medicine from Novo, after reports of suicidal and self-harming ideas. After some patients reported having suicidal or self-harming thoughts, Britain is evaluating a class of medications used in diabetes medication and a weight-loss treatment offered by Novo Nordisk, two weeks after the European Union took a similar move. The GLP-1 receptor agonist medication class is under evaluation, according to a statement from the Medicines and Healthcare Products Regulatory Agency (MHRA) to Reuters late on Tuesday.
In fresh research, Lilly’s obesity medication causes weight loss of roughly 26%.
Eli Lilly reported on Thursday that its investigational weight-loss medication had, on average, helped participants in two late-stage studies lose 26.6% of their body weight before stopping or after making significant lifestyle changes. Tirzepatide, also known as Mounjaro, is a medication that Lilly is studying in clinical studies on individuals who are obese or overweight but do not have type 2 diabetes.
Despite declining incidents, the United States continues to impose export restrictions on chicken.
Despite months without flock infections, U.S. poultry producers claim they are still suffering economic consequences from avian flu because China and several smaller importers refuse to waive the trade restrictions during the country’s worst-ever outbreak of avian flu.
Walgreens Boots Alliance CFO James Kehoe to step down.
Walgreens Boots Alliance said on Thursday that Chief Financial Officer James Kehoe will step down in mid-August to pursue an opportunity in the technology sector. The company named Manmohan Mahajan, who joined in 2016 and was previously global controller at the pharmacy chain, as interim global finance head while it searches to fill the role.
Due to competition, Bristol Myers sees a drop in revenue and lowers its 2023 projection.
On Thursday, Bristol Myers Squibb reported that its second-quarter sales were lower than anticipated and lowered its full-year expectations due to generic competition for two of its key medications, the blood cancer treatment Revlimid and the blood thinner Eliquis. The business said that a rise in patients receiving them for free through its patient support foundation had a negative impact on sales of Revlimid and Pomalyst, another medication for blood cancer. In contrast to its previous prediction of a 2% growth in sales for the year, it now anticipates a low-single-digit percentage decline in revenue in 2023.
The success of the eye medication lessens Roche’s declining revenue.
Roche reported a 14% fall in first-half core operating profit as sales of COVID-19 medicines declined dramatically, although the company’s successful launch of a new eye treatment offset the decline. According to a statement released on Thursday, core operating profit was 10.9 billion Swiss francs ($12.68 billion), which aligns with analysts’ predictions.
HCA’s upgraded prediction falls short despite an increase in procedures.
HCA Healthcare Inc. raised its annual profit projection on Thursday after exceeding quarterly profits expectations. Still, investors expected a more robust outlook to reflect a recovery in non-urgent medical operations, which led to a nearly 3% decline in the company’s share price. As more patients choose to undergo medical treatments like hip and knee replacements postponed due to the pandemic, hospital operators like HCA are anticipated to see an increase in profits.
