Health & pharmaceuticals news & headlines
Latest breaking stories, features and analysis
- Intuitive Surgical tops analysts estimates for earnings and revenue in Q3.
- The U.S. company refrained from giving guidance for the full year.
- Intuitive Surgical launched an inaugural £77 million fund in the third quarter.
Features & analysis
Latest Health & pharmaceuticals news
Johnson & Johnson (NYSE: JNJ) published its earnings report for the fiscal third quarter on Tuesday that topped analysts’ estimates for earnings and revenue. The company attributed its hawkish performance to increased sales for some drugs, and medical devices that it said were highly in demand in the recent quarter. Shares of the company opened a little under 2% down on Tuesday and tanked another 0.5% later in the day. Confused about choosing...
BridgeBio Pharma Inc (NASDAQ: BBIO) said on Monday that it will increase its stake in Eidos Therapeutics Inc (NASDAQ: EIDX) by 36.3% in a cash deal that is valued at £134.95 million (aggregate maximum). At £30.54 per share, BridgeBio Pharma is currently 20% up year to date in the stock market after recovering from a low of £12.42 per share in March. At the time of writing, BridgeBio has a market capitalisation of £3.74 billion. BridgeBio received...
In an announcement on Monday, Bristol Myers Squibb Co (NYSE: BMY) said it will invest £10 billion to acquire MyoKardia Inc (Nasdaq: MYOK). The deal will help it expand its footprint in the heart drugs business and minimise reliance on cancer treatments. Bristol Myers remained almost flat in premarket trading on Monday. At £45.32 per share, it is now 7% down as compared to £48.86 per share at the start of 2020. In March, the Coronavirus pandemic h...
The U.S. Federal Circuit Court of Appeals said on Friday that Teva Pharmaceutical Industries Ltd (TLV: TEVA) will compensate GlaxoSmithKline plc (LON: GSK) with a payment of £182.09 million – a verdict that was originally given by a jury in 2017. At £704.50 per share, Teva Pharmaceutical is now roughly 8% down year to date in the stock market. In March, shares of the company had tanked to as low as £571 per share due to COVID-19 disruptions. Teva...
In an announcement on Thursday, Smith & Nephew plc (LON: SN) said its underlying revenue is expected to see a 4% decline in the fiscal third quarter. Underlying revenue does not account for non-recurring and other exceptional items. Shares of the company remained flat in premarket trading on Thursday but jumped close to 2% on market open. At £15.50 per share, Smith & Nephew is now 10% down year to date in the stock market after recovering...
The U.S. presidential election is less than 50 days away and the health care sector could prove to be the most impacted. On Monday, Chantico Global CEO Gina Sanchez laid out on CNBC’s “Trading Nation” her outlook for either a Donald Trump re-election or a Joe Biden victory. Trump emerges victorious: Drugmakers If The Republic party under current President Donald Trump remains in the White House for at least another four more years, the Affordable...
Novavax Inc. (NASDAQ: NVAX) said that Endo International (NASDAQ: ENDP) will be in charge of manufacturing its COVID-19 vaccine after the two companies inked a non-exclusive agreement on Friday. Earlier this year in July, the U.S. government invested £1.27 billion in Novavax under its “Operation Warp Speed” program. In a separate statement, Endo said that its subsidiary, Par Sterile, has dedicated a manufacturing facility in Rochester for the pro...
Allergy Therapeutics plc (LON: AGY) said on Wednesday that sales growth in the next financial year was likely to remain flat as COVID-19 restrictions continue to make people avoid visits to the clinic. The novel flu-like virus has so far infected more than 400 thousand people in the United Kingdom and caused over 41 thousand deaths. In separate news from the UK, Halma plc forecast an up to 10% decline in full-year adjusted profit on Wednesday. Ac...
Aurora Cannabis Inc. (TSE: ACB) published its earnings report on Tuesday after the bell, that highlighted the company to have missed estimates for revenue in the fiscal fourth quarter. According to the Edmonton-based company: “Total volume of dried consumer cannabis sold increased by 36%, but was offset by a 30% decrease in the average net selling price per gram of consumer cannabis as the Company’s value segment brand, Daily Special, accounted f...
In an announcement on Monday, Illumina Inc. (NASDAQ: ILMN) said it will pay £6.25 billion in cash and stock to buy Grail Inc. The deal will see Illumina buying out Grail’s investors, including CEO Jeff Bezos of Amazon Inc. Illumina had spun out the cancer screening start-up in 2016. Illumina was reported trading about 15% down in premarket trading on Monday. Shares of the company recovered slightly in the morning session but lost the...
Roche Holding AG (SWX: RO) remained in headlines on Friday as the company expressed confidence that according to a study, its drug Actemra is effective in minimising the severity of COVID-19 in hospitalised patients. The U.S. FDA also approved Roche’s CINtec PLUS Cytology test for expanded use earlier this week to aid clinicians in preventing cervical cancer. Shares of the company gained roughly 1% in the stock market on Friday. Roche closed the...
Oxford Biomedica (LON: OXB) published its financial results for the fiscal first half on Thursday that highlighted a 6% annualised growth in its revenue to £34 million. In the same period last year, it had recorded a lower £32.1 million of revenue. The gene and cell therapy company said it generated £23.4 million of revenue from bioprocessing and commercial development segment in the first half that concluded on 30th June versus the year-ago figu...
Gilead Sciences Inc (NASDAQ: GILD) said late on Sunday that it will buy Immunomedics (biotech company) for £16.32 billion. The acquisition will help Gilead expand its footprint in oncology as it brings Immunomedics (NASDAQ: IMMU) promising cancer drug, Trodelvy, under its umbrella. At £50.90 per share, Gilead Sciences is currently trading around the same level in the stock market at which it started the year 2020. It had touched a year to date hi...
AstraZeneca plc (LON: AZN) said on Monday that it is set to resume its late-stage clinical trial of the experimental COVID-19 vaccine. The optimism was well received as the pharmaceutical company’s stock rallied to deliver the strongest boost to the FTSE 100 on Monday. Shares of the company opened about 1% up on Monday but lost the entire gain in the next hour as President Donald Trump ordered drug companies to reduce prices in the United States...
In an announcement on late Tuesday, AstraZeneca plc (LON: AZN) said that late-stage trial for its candidate COVID-19 vaccine had been paused after a study participant met with an unexplained severe adverse reaction. AstraZeneca’s experimental vaccine was among the top candidates of a potential cure for the novel flu-like virus. Spokeswoman Michele Meixell of AstraZeneca commented in an emailed statement on Tuesday: “Our standard review process wa...
Dechra Pharmaceuticals (LON: DPH) said on Monday that its full-year performance remained strong despite the Coronavirus pandemic that has so far infected more than 347 thousand people in the United Kingdom and caused over 41 thousand deaths. Shares of the company were reported about 4% up in premarket trading on Monday. The stock continued its gain and jumped another 6% on market open. In comparison, Dechra Pharmaceuticals had tanked to as low as...
AstraZeneca plc (LON: AZN) announced to have started the late-stage trial of its experimental COVID-19 vaccine in the United States that it is calling AZD 1222 on Tuesday. The company said its late-stage testing that is funded by the U.S. government (Operation Warp Speed) will see participation from 30,000 subjects. AstraZeneca opened more than 1% up in the stock market on Tuesday but tanked roughly 2% in the next few hours. At a per-share...