business-pharmaceuticals0.26 min read
"Zoetis Plummets on Reports of Pet Arthritis Drug Side Effects"
1 year ago•Source: Bloomberg
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1.58 min•1 year ago
"Novo Nordisk's Weight Loss Trial Results Boost Shares, Eli Lilly Sees Dip"
Novo Nordisk's shares surged 8% to a record high after reporting positive early trial data for its experimental weight loss drug amycretin, showing a 13.1% weight loss in participants after 12 weeks, surpassing the results of its popular obesity drug Wegovy. The company's stock has risen over 27% this year due to high demand for its anti-obesity drugs. Additionally, late-stage trial results for Ozempic demonstrated its potential to reduce the risk of kidney disease progression and death, further strengthening Novo's position in the pharmaceutical market. Meanwhile, American rival Eli Lilly's shares dipped 0.6% in premarket trading in response to the news.
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Novartis Abandons Pursuit of Cytokinetics, CYTK Stock Plunges
Originally Published 2 years ago — by The Wall Street Journal
Novartis has decided to step back from its pursuit of Cytokinetics, a South San Francisco-based heart-drug developer, after reportedly being close to a purchase agreement. The Swiss drug giant had been pursuing the biotech for several months, but backed away in the past day or two, casting doubt on the prospects of a deal.
Novartis Nears Acquisition of Cytokinetics Following Biotech's Heart Disease Breakthrough
Originally Published 2 years ago — by Endpoints News
Novartis is reportedly in talks to acquire Cytokinetics, with the potential deal expected to be finalized by the end of the week, following Cytokinetics' release of positive Phase III data for its heart disease program, aficamten, which has sparked M&A speculation and caused Cytokinetics' stock to surge nearly 15%.
"Novartis Nears Acquisition of Biotech Cytokinetics"
Originally Published 2 years ago — by The Wall Street Journal
Novartis is in advanced talks to acquire Cytokinetics, a South San Francisco-based biotech company known for its promising heart drug, in a deal that could be completed as soon as this week. The acquisition reflects the trend of big pharmaceutical companies acquiring fast-growing biotechs to bolster their pipelines, and Cytokinetics, with a market value of over $10 billion, has been running a sale process. However, it's possible that another suitor could emerge or that no deal will materialize.