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Featured Story | By Heather Landi Telehealth giant Teladoc said Wednesday it will take a charge of $6.6 billion to write down the value of its Livongo acquisitions. The impairment charge pushed the company's losses to $6.7 billion, or a loss of $41.58 per share, in the first quarter. read more |
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Top Stories By Fraiser Kansteiner Alongside a “long IP runway” for many of Eli Lilly's key drugs, the company has a shot at launching five new medicines over the next year-and-a-half, CEO David Ricks told investors Thursday. Overall, Lilly grew revenue 15% to around $7.8 billion in 2022’s first quarter, or 10% after taking Alimta and COVID-19 antibody sales out of the mix. read more By Conor Hale Despite the potential for declining COVID-19 testing revenues on the horizon, Hologic is upping its revenue forecasts for the year—built in part on the back of the M&A deals it closed last year using its pandemic testing windfalls. read more By Nick Paul Taylor The unstoppable march of Eli Lilly’s tirzepatide continues. Having previously shown the dual GIP/GLP-1 agonist reduces the weight of people with diabetes, Lilly has now delivered a hit in its first phase 3 pure play obesity trial, putting Novo Nordisk’s Wegovy on notice that a serious challenger may be on the horizon. read more By Robert King Lawmakers on both sides of the aisle criticized CMS' decision to only narrowly cover Alzheimer's disease drug Aduhelm, arguing it contradicts FDA's accelerated approval decision. read more By Kevin Dunleavy Merck's sales for its COVID-19 oral antiviral came in at $3.2 billion, topping Wall Street’s expectation by $500 million. The performance helped the pharma giant reach $15.9 billion in the quarter, a 50% increase from the- same period last year, prompting Merck to bump up its sales guidance for the year. read more By Paige Minemyer The CEOs at six major national insurers earned nearly $115 million combined in total compensation last year. read more By Annalee Armstrong Pfizer is getting back to work on a late-stage test for its Duchenne muscular dystrophy gene therapy. The decision comes several months after a patient death in a phase 1 trial drew a clinical hold on the medicine from the FDA. read more By Andrea Park Oticon Medical’s ears must be burning, after parent company Demant struck a deal to divest the implant business in a sale to fellow hearing technology developer Cochlear. read more By Kevin Dunleavy AstraZeneca's Ultomiris continued its rapid ascent with an FDA approval to treat generalized myasthenia gravis, an autoimmune neuromuscular disorder that causes severe weakness and loss of muscle function. It is the third FDA nod for Ultomiris after green lights in 2018 to treat paroxysmal nocturnal hemoglobinuria and 2019 for atypical hemolytic uremic syndrome. read more By Andrea Park In total, Thermo Fisher raked in $11.82 billion during the period, soaring nearly 20% higher than its revenue during the same three months in 2021, when it took in just under $10 billion. read more By Gabrielle Masson Riding high after an Amgen partnership and a $102 million funding round so far this year, Plexium shows no signs of slowing down. Instead, it's inked a new agreement with AbbVie focused on neurological conditions. read more |
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