In this photo illustration, a container of Johnson and Johnson baby powder is displayed on April 05, 2023 in San Anselmo, California. Justin Sullivan | Getty Images Johnson & Johnson has reached a tentative settlement to resolve an investigation by more than 40 states into claims that the company misled patients about the safety of … Read more
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals AG, exits court in New York, US, on Wednesday, Oct. 4, 2023. Yuki Iwamura | Bloomberg | Getty Images A federal appeals court on Tuesday upheld a lifetime ban on “Pharma bro” Martin Shkreli from working in the pharmaceuticals industry, as well as an order to … Read more
Vas Narasimhan, chief executive officer of Novartis AG, listens during a panel session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 22, 2019. Jason Alden | Bloomberg | Getty Images Vas Narasimhan, CEO of pharmaceutical firm Novartis, told CNBC Tuesday that he didn’t believe there had been much … Read more
Sopa Images | Lightrocket | Getty Images Eli Lilly is shaking up the pharmaceutical industry with a new website offering telehealth prescriptions and direct home delivery of certain drugs, including its red-hot weight loss treatment Zepbound, to expand patient access. The company’s direct-to-consumer push announced Thursday, the first of its kind for a big drugmaker, … Read more
Bristol Myers Squibb on Friday announced it agreed to buy biopharmaceutical company Karuna Therapeutics for $14 billion in cash, or $330 per share. Karuna’s stock popped more than 47% on the news Friday morning, hitting around $317 a share. Bristol Myers Squibb shares rose more than 2%. The deal will help expand Bristol Myers’ drug … Read more
Igor Golovniov | LightRocket | Getty Images Enphase Energy will lay off 10% of its global workforce as part of a restructuring plan, the solar company disclosed in a regulatory filing on Monday. Enphase manufacturers microinverters that convert solar energy into usable electricity. The company’s stock is down 53% this year as high interest rates … Read more
The U.S. Food and Drug Administration on Friday approved the country’s first gene-editing treatment, Casgevy, for use in patients with sickle cell disease. The approval comes about a decade after the discovery of CRISPR technology for editing human DNA, representing a significant scientific advancement. Yet reaching the tens of thousands of people who could benefit … Read more
President Joe Biden speaks about protecting Social Security, Medicare, and lowering prescription drug costs, during a visit to OB Johnson Park and Community Center, in Hallandale Beach, Florida, on Nov. 1, 2022. Kevin Lamarque | Reuters The Biden administration on Thursday asserted its authority to seize the patents of certain costly medications in a new … Read more
A sign stands outside a Abbvie facility in Cambridge, Massachusetts, May 20, 2021. Brian Snyder | Reuters AbbVie on Wednesday said it will acquire neuroscience drugmaker Cerevel Therapeutics for roughly $8.7 billion. Under the terms of the deal, AbbVie will pay $45 per share for Cerevel. AbbVie said it expects to complete the acquisition in … Read more
Gas prices at a Shell gas station in Washington, DC, US, on Tuesday, Nov. 28, 2023. Al Drago | Bloomberg | Getty Images U.S. crude declined nearly 4% on Wednesday with retail gasoline prices hitting the lowest point since January ahead of the holiday shopping and travel season. The West Texas Intermediate contract for January … Read more