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The FDA has expanded the approval of Pfizer’s RSV vaccine, Abrysvo, to include adults aged 18 to 59 years at increased risk of respiratory syncytial virus, in addition to those aged 60 and older and pregnant women. Despite three available vaccines, uptake remains slow, partly due to CDC recommendations focusing on higher-risk individuals over 75. GSK has also received expanded approval for its RSV vaccine, Arexvy, for adults aged 50 to 59.
An activist campaign led by Starboard Value against Pfizer has taken an unexpected turn, diverging from the typical strategy of quietly accumulating shares before launching a surprise initiative. The situation has become complicated, straining relationships and raising questions about the future of the campaign. For further insights, follow the correspondents on social media for updates.
Starboard Value is urging Pfizer's board to hold management accountable for a pattern of underperformance, citing missteps in acquisitions and a lack of innovation. Despite a significant revenue boost from COVID-19 products, Pfizer has struggled to maintain growth and recently withdrew a $5.4 billion sickle cell drug acquisition. The company's stock has halved since pandemic highs, and Starboard's push for change has faced challenges, including a high-profile withdrawal of support from former Pfizer executives.
Starboard Value LP's CEO, Jeffrey Smith, criticized Pfizer Inc. for a staggering $20 billion in value destruction, attributing it to the company's failure to deliver on new blockbuster drugs. He described the decline in Pfizer's share price since the Covid pandemic as "crazy" and emphasized the need for increased accountability.
The drug and biotech sector is experiencing a strong earnings season, highlighted by Johnson & Johnson's recent performance, which exceeded estimates and led to an upward revision of revenue expectations. Five large drug companies—Novo Nordisk, Novartis, Pfizer, Regeneron Pharmaceuticals, and Biogen—are anticipated to outperform in their upcoming quarterly results, with Novo Nordisk showing a positive Earnings ESP of +1.02% and a Zacks Rank #3. Overall, the Medical sector is projected to see a 6.4% rise in fourth-quarter earnings and an 8.5% increase in revenues.
Sanofi is moving forward with a deal to sell a controlling 50% stake in its consumer health business, Opella, to Clayton Dubilier & Rice for approximately €16 billion ($17.3 billion). Bpifrance will hold a 2% minority stake, ensuring job security in France amid concerns over potential job losses. The transaction is expected to close by Q2 2025, allowing Sanofi to focus on its biopharmaceuticals.
The HLTH 2024 conference in Las Vegas will gather 12,000 attendees, including leaders from health systems, payers, and digital health startups, to discuss healthcare innovation. Key topics include AI's role in healthcare, the future of retail health, women's mental health, and advancements in healthy aging and brain health. Notable speakers include executives from major companies like Johnson & Johnson, Amazon, and Pfizer, alongside policymakers addressing the regulatory landscape.
Intuitive Surgical (ISRG) is experiencing financial growth driven by its AI-powered Da Vinci systems, amidst a competitive healthcare landscape. The medical industry is projected to grow significantly, with hospitals expected to reach $2 trillion by 2028 and pharmaceutical manufacturing forecasted to surge to $1.2 trillion by 2030. Notable companies like Pfizer and Moderna have seen substantial stock gains, highlighting the lucrative opportunities within this sector.
GSK is suing Moderna for allegedly infringing on seven patents related to mRNA vaccine technology, which were developed by a team led by Christian Mandl during his time at Novartis. GSK claims that Moderna's success in rapidly developing its COVID-19 vaccine relied on these patented methods. The lawsuit seeks unspecified damages and reimbursement for legal costs.
In 2023, the Life Sciences sector saw a resurgence in mergers and acquisitions, with M&A investments reaching $191 billion, a 40% increase from 2022. Despite a 6% decline in transaction volume to 118 deals, major pharmaceutical companies dominated, accounting for 69% of the total investments. This trend reflects a strategic shift towards ambitious growth initiatives amid revenue pressures and the impending loss of exclusivity for key drugs.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
FDA expands Pfizer RSV vaccine approval to younger adults at risk
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activist investors clash with pfizer in unexpected campaign fallout
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activist investor calls for accountability at pfizer amid performance concerns
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18:14 22.10.2024
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18:23 21.10.2024
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09:00 18.10.2024
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Moderna, Inc.
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12:59 16.10.2024
pharmaceutical sector sees resurgence in mergers and acquisitions in 2023
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