tldrdaily.news logo
Tag

Business Healthcare

All articles tagged with #business healthcare

business-healthcare1 year ago

"UnitedHealth Group's Resilient First Quarter: Beating Revenue and Profit Estimates Despite Cyberattack Impact"

UnitedHealth Group reported better-than-expected revenue in its first-quarter results despite a cyberattack on its subsidiary Change Healthcare, with earnings of $6.91 per share and revenue of $99.8 billion. The company incurred a charge of around $7 billion from selling its Brazil operations and a net loss of $1.53 per share due to the cyberattack. The cyberattack's total impact in the first quarter was 74 cents per share, and the company expects the full-year impact to be between $1.15 and $1.35 per share. UnitedHealth's two major business units, Optum and UnitedHealthcare, both reported revenue growth, and the company advanced more than $6 billion to health-care providers in need of assistance.

via CNBC|
#business-healthcare#cyberattack#earnings
business-healthcare1 year ago

"Vertex Pharmaceuticals' $4.9B Acquisition of Alpine Expands Focus to Kidney and Autoimmune Diseases"

Vertex Pharmaceuticals has announced a $4.9 billion deal to acquire Alpine Immune Sciences and its experimental drug povetacicept, aimed at treating IgA nephropathy, a kidney disease. The acquisition will expand Vertex's work in kidney and autoimmune diseases, marking a significant investment from the biotech company.

via Endpoints News|
#acquisition#alpine-immune-sciences#autoimmune-disease
business-healthcare1 year ago

"Vertex Pharmaceuticals' $4.9 Billion Bet on Kidney Disease Treatment with Alpine Immune Acquisition"

Vertex Pharmaceuticals is acquiring Alpine Immune Sciences for $4.9 billion in cash, gaining access to the biotech firm's treatment for IgA nephropathy, an autoimmune disease of the kidney. The deal will provide Vertex with access to Alpine's povetacicept, a mid-stage treatment for IgAN, which targets proteins contributing to autoimmune and antibody diseases. The acquisition aligns with Vertex's focus on expanding its portfolio beyond cystic fibrosis and blood disorders, and the deal is expected to close in the second quarter of 2024.

via CNBC|
#acquisition#alpine-immune-sciences#autoimmune-disease
business-healthcare1 year ago

Johnson & Johnson's $13 Billion Acquisition of Shockwave Medical Energizes Heart Device Business

Johnson & Johnson has agreed to acquire Shockwave Medical for $12.5 billion, expanding its portfolio of medical devices for treating heart diseases. The acquisition provides J&J access to Shockwave's device that uses shockwaves to break down calcified plaque in heart vessels, with the total addressable market for similar therapies estimated at about $10 billion. This move follows J&J's previous acquisitions to strengthen its cardiac health division, and the company expects to finance the deal through a combination of cash on hand and debt.

via Reuters|
#acquisition#business-healthcare#heart-diseases
business-healthcare1 year ago

Johnson & Johnson's $13.1 Billion Acquisition of Shockwave Medical Expands MedTech Portfolio

Johnson & Johnson has acquired Shockwave Medical for $13.1 billion, aiming to bolster its presence in higher-growth markets and expand its expertise in cardiovascular intervention. Shockwave Medical specializes in intravascular lithotripsy, a technology that helps treat calcifications in the arteries, and the deal is expected to close in mid-2024. The acquisition is projected to be slightly dilutive to J&J's adjusted earnings for this year and the next, and analysts believe the offer fairly values Shockwave, with no anticipated antitrust issues due to a lack of product overlap.

via Investor's Business Daily|
#acquisition#business-healthcare#cardiovascular-technology
business-healthcare1 year ago

Novo Nordisk's $1.1 Billion Deal to Expand Cardiovascular Pipeline

Novo Nordisk has agreed to acquire Cardior Pharmaceuticals for up to $1.1 billion in a move to expand its cardiovascular pipeline, aligning with its focus on diabetes and weight-loss therapies. The deal includes Cardior's lead compound CDR132L, currently in Phase II trials for heart failure, with plans to start a second Phase II trial for cardiac hypertrophy. The acquisition is expected to close in the second quarter of 2024 and will not impact Novo's 2024 operating profit guidance.

via Reuters|
#acquisition#business-healthcare#cardior-pharmaceuticals
business-healthcare1 year ago

AstraZeneca's $2.4B Acquisition of Fusion Pharmaceuticals Accelerates Cancer Therapy Development

Fusion Pharmaceuticals received a $2 billion takeover offer from AstraZeneca, causing its stock to surge by 97%. Fusion specializes in targeted cancer treatments using radioactive isotopes, with a focus on metastatic castration-resistant prostate cancer. The deal highlights the growing interest in the radiopharmaceuticals space, following recent acquisitions by Eli Lilly and Bristol Myers Squibb. AstraZeneca's offer includes a contingent value right tied to the FDA's review of Fusion's prostate cancer drug, with potential approval expected in the fourth quarter of 2029. Analysts anticipate continued growth and innovation in the radiopharmaceutical field, with AstraZeneca gaining a competitive advantage through Fusion's isotope production facilities.

via Investor's Business Daily|
#astrazeneca#biotech#business-healthcare
business-healthcare1 year ago

"AstraZeneca's $1.05B Acquisition Bolsters Rare Disease Portfolio"

AstraZeneca has announced its acquisition of Amolyt Pharma for $1.05 billion in cash, aiming to bolster its rare diseases portfolio. The deal includes an $800 million upfront payment and a contingent payment of $250 million upon achieving a specified regulatory milestone. Amolyt Pharma is currently in late-stage development of a therapy for hypoparathyroidism. AstraZeneca's rare diseases portfolio, bolstered by the acquisition of Alexion in 2021, has seen significant revenue growth. The Phase III trial results for Amolyt's therapy are expected next year, with potential for blockbuster sales. AstraZeneca's CEO has been actively pursuing acquisitions to strengthen the company's pipeline.

via Reuters|
#acquisition#amolyt-pharma#astrazeneca
business-healthcare1 year ago

"Novo Nordisk's Breakthrough Obesity Pill Propels Stock to New Heights"

Novo Nordisk's market value has surpassed Tesla's after positive early trial data for its experimental weight loss pill, amycretin, showed a 13.1% weight loss in participants. The Danish pharmaceutical company's market cap now stands at $604 billion, making it the 12th most valuable company in the world. The company's focus on obesity treatments and cardiovascular disease, along with the potential of its new drugs, has led to a months-long rally in its stock. The company anticipates that the pill could be available to consumers within this decade, and it expects amycretin to have similar cardiac benefits to its successful injection-based drugs, Wegovy and Ozempic.

via CNBC|
#business-healthcare#clinical-trial#market-cap
business-healthcare1 year ago

"Pfizer's Bold Move: Revitalizing Investor Interest with New Cancer Drugs"

Pfizer is facing a significant challenge as its shares have plummeted, and it aims to address this by focusing on new cancer drugs, including the recent acquisition of Seagen for $43 billion. The company's executives are holding an investor briefing to persuade shareholders of the potential payoff. CEO Albert Bourla is adamant about the deal's potential, despite the market's skepticism.

via STAT|
#business-healthcare#cancer-treatment#investor-briefing
business-healthcare1 year ago

Novavax Struggles Continue: Q4 2023 Earnings Disappoint

Novavax, a COVID-19 vaccine maker, anticipates flat or lower revenue for 2024 as it struggles to compete with larger rivals Pfizer and Moderna in the U.S. market. The company reported a larger-than-expected fourth-quarter loss and expects 2024 sales to be less than $25 million. Novavax aims to improve its market share by targeting retail pharmacy chains and offering more convenient prefilled syringes. Despite financial challenges and doubts about its ability to remain in business, the company plans to drive down costs and focus on commercial execution.

via Yahoo Finance|
#business-healthcare#covid-19-vaccine#financial-difficulties
business-healthcare1 year ago

"DOJ Launches Antitrust Probe into UnitedHealth, Stock Falls"

The U.S. Department of Justice has initiated an antitrust investigation into UnitedHealth Group, focusing on its relationships between the UnitedHealthcare insurance unit and its Optum health services arm, as well as its Medicare billing practices. The investigation comes amid concerns about rising healthcare costs and the role of pharmacy benefit manager middlemen. The company's acquisition of Change Healthcare and a recent cybersecurity attack at the billing and data systems provider have also drawn attention. UnitedHealth and the DoJ declined to comment, and the company's shares closed 2.3% lower following the news.

via Yahoo Finance|
#antitrust-investigation#business-healthcare#doj
business-healthcare1 year ago

"Viking Therapeutics' Breakthrough Weight-Loss Drug Sends Shares Soaring"

Viking Therapeutics' experimental weight-loss drug showed promising results in a mid-stage study, with patients experiencing an average weight loss of nearly 15%. This news caused the company's shares to more than double, reaching $85.05. The drug targets gut hormones and is seen as a potential competitive threat to existing weight-loss drugs from companies like Eli Lilly and Novo Nordisk. The positive results have generated significant interest from investors and analysts, with potential implications for the pharmaceutical industry and the stock market.

via Reuters|
#business-healthcare#obesity-treatment#pharmaceutical-industry
business-healthcare1 year ago

"Justice Department Investigates UnitedHealth for Antitrust Concerns"

UnitedHealth Group Inc.'s stock fell over 2% after the Wall Street Journal reported that the Justice Department has initiated an antitrust investigation into the health-insurance giant, focusing on its relationships between the UnitedHealthcare insurance unit and its Optum health-services division. The investigation includes interviews with industry representatives to assess the impact of UnitedHealth's acquisitions of doctor groups on competitors and consumers. UnitedHealth, the dominant U.S. health insurer in commercial and Medicare Advantage markets, has faced previous legal challenges related to acquisitions.

via MarketWatch|
#antitrust-investigation#business-healthcare#health-insurance
business-healthcare1 year ago

"Moderna's Unexpected Profit and RSV Vaccine Roadmap"

Moderna surprised with a fourth-quarter profit, attributing it to cost cutting and deferred payments, while also outlining plans for its experimental RSV vaccine. The company reported a decline in COVID-19 vaccine sales but expects a U.S. approval decision for its RSV shot by May 12. Moderna also anticipates data from late-stage trials of its next generation COVID shot and other combination vaccines this year, reaffirming its 2024 sales forecast despite a projected revenue decrease.

via Yahoo Finance|
#business-healthcare#covid-19#moderna