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Health stocks experienced a decline following President-elect Donald Trump's appointment of Robert F. Kennedy Jr., a known vaccine skeptic, to lead the Department of Health and Human Services. Pharmaceutical companies, particularly those involved in vaccine production, faced significant losses, with Sanofi SA and GSK Plc both dropping over 4% in early European trading.
Shares of vaccine manufacturers plummeted following President-elect Donald Trump's nomination of Robert F. Kennedy Jr., a noted vaccine skeptic, to lead the Department of Health and Human Services. Moderna, Novavax, Pfizer, and BioNTech all experienced significant declines, with Moderna down over 5% and Novavax falling more than 7%. Experts warn that Kennedy's influence could amplify anti-vaccine sentiments, potentially hindering vaccination efforts in the U.S.
GSK Plc announced that its previously withdrawn blood cancer drug, Blenrep, significantly reduced the risk of death in patients with relapsed myeloma when combined with BorDex, another cancer treatment. The results from the late-stage trial are deemed “potentially transformative” for patients, enhancing the drug's prospects for reintroduction to the market.
GSK Plc has entered a partnership with US biotech Vesalius Therapeutics, valued at up to $650 million, to advance drug development for Parkinson’s disease. The agreement includes an $80 million upfront payment, with the potential for an additional $570 million for full development and commercialization rights to Vesalius’s early-stage drug program.
At the 7th China International Import Expo in Shanghai, multinational pharmaceutical companies are showcasing innovative medical technologies. Johnson & Johnson launched INVEGA HAFYERA for schizophrenia, while Pfizer presented therapies for atopic dermatitis. GSK highlighted its breakthrough drug Bepirovirsen for chronic hepatitis B and announced a public welfare project for systemic lupus erythematosus patients.
AstraZeneca's shares fell 8.4% on the London Stock Exchange amid concerns over a Chinese investigation into alleged aggressive sales tactics for its oncology drugs, Tagrisso and Imjudo. The company's local president, Leon Wang, is under investigation, signaling increased scrutiny from Beijing. Despite the turmoil, AstraZeneca aims for $80 billion in sales by 2030, up from $45.8 billion in 2023, with plans to launch 20 new drugs by the decade's end.
23andMe faces potential bankruptcy, raising concerns over the fate of customer DNA data, particularly for Swiss users, where genetic data is generally well protected. Despite claims of data security, the company’s policies allow for data sale during acquisitions, and past breaches have compromised sensitive information. With a significant drop in value and management turmoil, the future of 23andMe and its handling of genetic data remains uncertain.
UBS has maintained a 'Neutral' rating for GSK, setting a target price of 1580 pence. Analyst Jo Walton has slightly increased his 2025 estimates but expresses skepticism about the outlook for the Shingrix vaccine in China starting in 2026.
GSK's vaccine sales plummeted in the third quarter, with shingles vaccine sales down 7% and respiratory syncytial virus (RSV) shot Arexvy dropping 72% year over year. The decline is attributed to a narrower CDC recommendation, prioritization of COVID vaccinations, and lower RSV infection rates. GSK anticipates a low single-digit decline in overall vaccine sales for the year.
GSK Plc reported a decline in sales for two of its major vaccines in the third quarter, attributed to access issues in the US. Arexvy, for respiratory syncytial virus, generated £188 million, falling short of the £290 million forecast, while Shingrix sales reached £739 million, below the expected £895 million.
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health stocks decline as trump appoints vaccine skeptic to health department
12:11 15.11.2024
vaccine maker stocks decline after trump nominates rfk jr for hhs
Euro
United States Dollar
Moderna, Inc.
Novavax, Inc.
GSK plc
BioNTech SE
Pfizer Inc.
USA
DEU
Robert F. Kennedy Jr.
Donald Trump
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22:12 14.11.2024
GSK's blood cancer drug shows promise in reducing death risk in trials
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gsk partners with vesalius therapeutics to advance parkinsons drug development
12:32 12.11.2024
drug companies showcase innovations at china international import expo
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GSK plc
Pfizer Inc.
Johnson & Johnson
CHN
Johnson & Johnson
Edward Zhou
Zhou Wenting
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12:56 07.11.2024
AstraZeneca shares drop amid Chinese investigation into sales practices
19:58 05.11.2024
financial crisis at 23andme raises concerns over customer dna data security
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Google Inc.
23andMe Holding Co.
GSK plc
CHE
USA
Larry Page
Rupert Murdoch
Sergey Brin
Craig Venter
Anne Wojcicki
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12:19 04.11.2024
ubs maintains neutral rating for gsk with target price of 1580 pence
12:42 31.10.2024
gsk vaccine sales decline amid lower demand for rsv and shingles shots
20:15 30.10.2024
gsk vaccine sales fall short of expectations impacting overall profit performance
08:18 30.10.2024
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