Pfizer is betting big on cancer drugs after Covid decline

Nurphoto | Nurphoto | Getty Images Pfizer is ready to move on from Covid.  Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. It just might take a while before that bet pays off.  Pfizer pitched its … Read more

Eli Lilly (LLY) earnings Q4 2023

An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023.  Brendan McDermid | Reuters Eli Lilly on Tuesday reported fourth-quarter revenue and adjusted earnings that topped expectations on the strong launch of its new weight loss drug, Zepbound, and higher prices for its blockbuster diabetes treatment, … Read more

Johnson & Johnson to settle talc baby powder probe

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

Eli Lilly weight loss drug site may not upend industry

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

Enphase Energy will lay off roughly 10% of workforce as part of restructuring plan

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

Biden administration asserts power to seize drug patents

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

AbbVie to acquire Cerevel Therapeutics for $8.7 billion

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

U.S. crude drops below $70 per barrel, gas prices fall to 11-month low

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

Roche enters obesity market with Carmot takeover

BRAZIL – 2021/11/26: In this photo illustration a F. HoffmannLa Roche AG logo is seen on a screen and a hand holding a pill. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Swiss pharmaceuticals giant Roche is set to acquire anti obesity drug developer Carmot Therapeutics, becoming … Read more

Pfizer weight loss pill joins list of obesity drug flops

Sopa Images | Lightrocket | Getty Images Pfizer’s twice-daily version of its experimental weight loss pill has now joined a long list of other scrapped drugs that aimed to treat obesity but came with unintended consequences.  The drugmaker on Friday said it will stop developing the twice-daily treatment, danuglipron, after obese patients taking the drug … Read more