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Prothena's stock surged nearly 40% after promising results from a midstage study of its Parkinson's treatment, prasinezumab, partnered with Roche. Although the drug missed its primary goal, it showed a delay in motor worsening, particularly in patients using levodopa, suggesting potential for future trials. Analysts estimate Prothena could earn up to $275 million in royalties, despite concerns about the drug's modest efficacy and administration challenges.
Health stocks fell sharply after President-elect Trump nominated vaccine skeptic Robert F. Kennedy Jr. to lead the Department of Health and Human Services. The S&P 500 Health Care Index dropped 1.9%, with major companies like Moderna and Pfizer seeing significant losses. Analysts warn that Kennedy's views could undermine vaccine confidence and impact the biotechnology sector, leading to potential public health risks.
Novo Nordisk plans to seek regulatory approval for semaglutide as a treatment for metabolic dysfunction-associated steatohepatitis (MASH) after positive Phase 3 trial results. The study showed significant improvements in liver scarring and resolution of MASH among patients receiving semaglutide compared to placebo. Despite the promising findings, analysts remain cautious about its competitive edge in the MASH treatment landscape.
Regeneron Pharmaceuticals' shares dropped nearly 10% as third-quarter sales of Eylea fell short of expectations, raising concerns about future sales amid competition. In contrast, Madrigal Pharmaceuticals reported strong sales of its MASH drug, Rezdiffra, totaling $62 million, significantly exceeding forecasts. UCB's Alzheimer’s drug trial showed promising secondary results despite missing its main goal, while AbbVie announced a partnership with EvolveImmune Therapeutics to develop cancer therapies.
Biogen raised its diluted earnings per share guidance for the year to $16.10-$16.60, driven by strong sales of new products like Leqembi, which generated $67 million in Q3, a 66% increase from the previous quarter. Despite this, total revenue is expected to decline in 2024, with ongoing challenges in its multiple sclerosis drug sales. The company is undergoing significant transformation under CEO Chris Viehbacher, focusing on cost-cutting and diversifying its research portfolio.
GSK is investing $800 million to expand its manufacturing site in Marietta, Pennsylvania, focusing on sterile liquid vaccines and drug substances, with operations expected by 2027 and 2028. Amgen has set a list price of $1,665 for its Eylea biosimilar, Pavblu, launching without a legal settlement, which may lead to penalties if future rulings favor Regeneron. Meanwhile, Roche has partnered with Dyno Therapeutics for gene therapy advancements, and AbbVie is collaborating with Gideon Richter on neuropsychiatric treatments. Marinus Pharmaceuticals is laying off staff after its seizure drug ganaxolone failed to meet Phase 3 study goals.
Sage Therapeutics' experimental drug dalzanemdor (SAGE-718) has failed in a mid-stage trial for Alzheimer’s, showing no significant cognitive improvement over placebo. Following this setback, the company will not pursue further development for Alzheimer’s and faces low expectations for upcoming Huntington’s disease trials. Sage's stock has dropped significantly this year, reflecting ongoing challenges after previous drug failures and a major workforce reduction.
Brian Abrahams
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Prothena stock jumps nearly 40 percent on promising Parkinson's treatment results
18:28 19.12.2024
health stocks decline after trump nominates vaccine skeptic robert f kennedy jr
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22:25 15.11.2024
novo seeks approval for semaglutide as treatment for liver disease
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15:45 01.11.2024
regeneron faces sales uncertainty while madrigal reports strong drug launch results
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11:06 01.11.2024
biogen raises earnings forecast amid strong sales of new products
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15:15 30.10.2024
gsk invests 800 million in us manufacturing amgen launches eylea biosimilar
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16:35 25.10.2024
sage therapeutic drug fails in alzheimer's trial amid ongoing challenges
14:21 08.10.2024
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