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The U.S. Food and Drug Administration has approved a new treatment for schizophrenia, marking the first of its kind in decades. The drug, developed by Cobenfy, offers an alternative to existing antipsychotics by providing symptom stabilization without the uncomfortable side effects commonly associated with these medications. This development is significant for schizophrenia patients who have been seeking more effective and tolerable treatment options. [Extracted from the article]

The article discusses the challenges facing Pfizer's cancer-business chief, who is leading the integration of a acquisition of Seagen. Topics include the significance of the merger for Pfizer's oncology division, the internal company event aimed at integrating new staff, and the strategic focus on cancer drugs to drive the company's growth.

The article focuses on the intensifying negotiations between drugmakers and officials over Medicare's new drug-price regulations. Topics include the contentious and complex nature of the annual negotiations, the legal battles faced by the pharmaceutical industry, and the ongoing challenges in reaching agreements on drug prices.

Novo Nordisk, a Danish pharmaceutical company, experienced a drop in shares after its weight-loss drug Wegovy failed to meet sales expectations due to larger discounts offered to U.S. buyers. Despite the drug's popularity and increased demand, supply shortages have forced the company to increase production capacity. The company's CFO attributed the lower prices to rebates and the entrance of a competitor. Novo Nordisk remains committed to expanding manufacturing capacity and expects periodic supply constraints. The company's sales guidance has been raised, but its operating-profit guidance has been slightly lowered. [Extracted from the article]

Byline: Jared S. Hopkins Albert Bourla helped build Pfizer Inc.'s growing pipeline of drugs. Now he'll run the biggest U.S. pharmaceutical company as it banks on that channel for future [...]

Merck, a major drugmaker, is nearing a $1.3 billion deal to acquire Eyebiotech, a biotech company specializing in eye-care. The acquisition would allow Merck to enter the lucrative eye-drug market, with Eyebiotech's lead drug, Restoret, targeting eye conditions such as age-related macular degeneration and diabetic macular edema. The global market for age-related macular degeneration is expected to reach $18 billion by 2030. This move is part of Merck's strategy to diversify its portfolio and reduce reliance on its top-selling drug, Keytruda, which accounted for over 40% of the company's sales in 2023. [Extracted from the article]

Researchers are exploring the possibility of stopping immunotherapy treatments for cancer earlier in order to spare patients from unnecessary side effects and costs. While these drugs have been effective in extending the lives of patients with certain types of cancer, some individuals may be receiving more treatment than necessary. Preliminary research suggests that lower doses or shorter treatment periods may be sufficient, but drug companies have not funded the studies needed to confirm these findings. However, recalibrating cancer care towards less treatment is a complex task, as some doctors and patients worry about pulling back too soon. Additionally, stopping treatment earlier would also save patients from the financial burden of continuing to pay for expensive drugs. [Extracted from the article]

Bristol-Myers Squibb, a drug company based in New Jersey, has agreed to acquire RayzeBio, a San Diego-based company, for $4.1 billion. RayzeBio specializes in the development of radiopharmaceutical drugs, which use targeted radiation to treat cancer cells while minimizing damage to healthy cells. This deal reflects a growing interest in radiopharmaceuticals as a potential treatment for cancer. Bristol-Myers Squibb has been actively seeking acquisitions to bolster its drug pipeline, as it faces declining revenue in the future due to expiring patents. The acquisition is expected to close in the first half of 2024. [Extracted from the article]

Pfizer's shares have fallen to their lowest level in over nine years after the company warned about its prospects for next year. The drugmaker overestimated the use of its Covid-19 vaccine, leading to a decrease in revenue and a market cap loss of $140 billion this year. Pfizer's struggles to find new sources of sales growth have raised concerns among investors, and the company's CEO, Albert Bourla, faces the challenge of charting a post-pandemic course. Despite heavy advertising, people are not getting vaccinated against Covid-19 as much as during the worst days of the pandemic, contributing to the decline in sales. Pfizer is now targeting revenue of $58.5 billion to $61.5 billion for 2024, below analyst expectations. The company is also counting on a $43 billion deal for Seagen to boost sales. [Extracted from the article]

Pfizer, once admired for its rapid development of Covid-19 vaccines, is now facing financial challenges. The company overestimated the demand for its pandemic products, leading to a sharp drop in sales after the Covid-19 crisis subsided. Pfizer is pulling back on research programs, laying off workers, and experiencing a decline in morale. The company is launching new products and making acquisitions to boost sales, but analysts remain skeptical. Pfizer's stock has fallen to its lowest level in a decade, and CEO Albert Bourla is facing concerns about the company's sales forecasting and ability to deliver on its pipeline. [Extracted from the article]

Pharmaceutical company AbbVie has agreed to acquire biotech company ImmunoGen for over $10 billion in a move to invest in a promising novel drug technology for targeting cancer. ImmunoGen develops cancer drugs called antibody-drug conjugates (ADCs), which deliver toxic agents directly to tumors. This technology has seen recent advancements and has been used to treat common types of cancer. AbbVie's acquisition of ImmunoGen will expand its portfolio beyond blood-cancer treatments and help offset the competition faced by its top-selling drug, Humira. ADCs have become a priority for pharmaceutical companies, with Pfizer, Merck, and AstraZeneca also investing in this technology. [Extracted from the article]

Researchers at the Mayo Clinic and other institutions are using AI tools that are trained on animal data to speed up diagnostic algorithms for humans. By using results from tests on pets, such as fecal tests for parasites, these algorithms can provide faster and more accurate results for human patients. The Mayo Clinic has already implemented diagnostic algorithms developed by a startup called Techcyte, which uses animal data to inform its AI development. Other companies, such as Quest Diagnostics, are also planning to use Techcyte algorithms for diagnostic testing. This use of AI in veterinary care is paving the way for advancements in human diagnostics as well. [Extracted from the article]

Shares of Bayer, a German pharmaceutical and agricultural group, dropped nearly 18% after the company halted a late-stage study for a blood-thinning drug due to lack of efficacy and was ordered to pay $1.56 billion in a lawsuit related to its Roundup weedkiller. This court loss was the fourth in a row against Bayer. The news also led to a selloff of shares in Bristol-Myers Squibb, which is developing a similar drug. Both drugs are part of a new class of blood thinners that aim to prevent strokes and reduce the risk of other cardiac events. [Extracted from the article]

Keywords: wsjhealth; Pharmaceuticals; Healthcare/Life Sciences; Prescription Drugs; North America; United States; Corporate/Industrial News; SYND; WSJ-PRO-WSJ.com; Eli Lilly EN wsjhealth Pharmaceuticals Healthcare/Life Sciences Prescription Drugs North America United States Corporate/Industrial News SYND WSJ-PRO-WSJ.com Eli Lilly N.PAG N.PAG 1 11/10/23 20231109 NES 231109 Patients are paying hundreds of dollars more for a prescription than they would if their health plan chose to cover a lower-priced twin Wsjhealth, Pharmaceuticals, Healthcare/Life Sciences, North America, United States, Corporate/Industrial News, SYND, WSJ-PRO-WSJ.com, Eli Lilly, Prescription Drugs. [Extracted from the article]

Byline: Jared S. Hopkins March madness officially begins in Dayton, Ohio, tonight when Oakland (Mich.) faces Alabama A&M in the men's tournament play-in game (7 ET, ESPN). The winner faces [...]

Byline: Jared S. Hopkins The Long Island University men's basketball team will end its season tonight in historic fashion, despite no records being broken. The Blackbirds will face Robert Morris [...]

French drug giant Sanofi plans to spin off its consumer-health business, which includes brands like Allegra and IcyHot, in order to focus on more commercially lucrative prescription drugs. This move follows similar decisions by Johnson & Johnson, Pfizer, and GSK to divest their divisions selling over-the-counter medicines. While the split allows these companies to become more agile and focused, they also face the challenge of relying on breakthrough medicines with large sales potential. The pharmaceutical industry has shifted towards complex therapies and advanced molecular biology, leaving behind cough-and-cold remedies and consumer staples. [Extracted from the article]

CVS Health is removing certain decongestant products from its shelves and will no longer sell them, following a recent determination by U.S. health regulators that an ingredient in these products is ineffective. The products contain oral phenylephrine, which has been found to be ineffective when taken orally. While the FDA has not yet made a decision or asked for the removal of these products, CVS is voluntarily removing them. Other products to relieve congestion will still be available for customers. [Extracted from the article]

Pfizer will price its Covid-19 drug Paxlovid at $1,390 for a five-day course, which is more than double what the U.S. government paid. However, health plans are expected to pay less than the list price, and most patients will have minimal or no out-of-pocket costs due to price discounts and assistance from Pfizer. The company has faced criticism for raising the price, as it may limit patient access. Pfizer plans to negotiate with pharmacy-benefit managers and health plans to offer steep discounts and ensure wide access to the drug. [Extracted from the article]

Wsjhealth, Biotechnology Services, Pharmaceuticals, Scientific Research Services, Healthcare/Life Sciences, Business/Consumer Services, Medical Research Services, Drug Discovery/Development, Diagnostic/Medical Research Services, Healthcare Support Services Its Covid-19 vaccine and drug powered Pfizer to more than $100 billion in sales last year, the first drugmaker to break the barrier. Keywords: wsjhealth; Biotechnology Services; Pharmaceuticals; Scientific Research Services; Healthcare/Life Sciences; Business/Consumer Services; Medical Research Services; Drug Discovery/Development; Healthcare Support Services; Diagnostic/Medical Research Services EN wsjhealth Biotechnology Services Pharmaceuticals Scientific Research Services Healthcare/Life Sciences Business/Consumer Services Medical Research Services Drug Discovery/Development Healthcare Support Services Diagnostic/Medical Research Services N.PAG N.PAG 1 08/08/23 20230807 NES 230807 With the lift from pandemic vaccine and drug sales over, Pfizer CEO bets on new drug approvals and deals The pandemic showered Pfizer PFE 0.06% increase; green up pointing triangle with record sales. [Extracted from the article]

New York-based Pfizer has been looking for acquisitions to help it offset an expected sales loss of $17 billion by 2030 as some top-selling drugs like blood thinner Eliquis and breast-cancer drug Ibrance lose patent protection in the next several years. Keywords: wsjhealth; Biotechnology Services; Pharmaceuticals; Cancer Drugs; Healthcare/Life Sciences; Biopharmaceuticals; Specialized Drugs/Medications; Ownership Changes; Acquisitions/Mergers/Shareholdings; Anti-Competition Issues EN wsjhealth Biotechnology Services Pharmaceuticals Cancer Drugs Healthcare/Life Sciences Biopharmaceuticals Specialized Drugs/Medications Ownership Changes Acquisitions/Mergers/Shareholdings Anti-Competition Issues N.PAG N.PAG 1 03/16/23 20230314 NES 230314 The drugmaker would pay $229 a share in cash for the biotech cancer specialist Graph: Pfizer has been looking for acquisitions to help it offset an aging drug lineup. The drugs could become one of the next big segments of the $375 billion worldwide cancer-drugs market, accounting for $31 billion in sales in 2028, drug-market-research firm Evaluate estimates. [Extracted from the article]