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US biotech has been struggling to overcome fall in demand for coronavirus jabs
Companies have yet to provide investors with convincing post-pandemic strategies
...The Swiss pharmaceuticals group is following many rivals to focus its operations on higher-value innovative treatments rather than the cheaper off-patent drugs made by Sandoz, including generic versions...
...Novartis notched a 10 per cent increase in sales in 2023 as strong performance for its heart and arthritis medicines helped Europe’s second-largest pharmaceuticals company beat its guidance for the year....
...Sandoz, for instance, is focused instead on developing generic versions of more profitable, innovative drugs that are approaching the end of their patent, Saynor says....
...The results focus on the remaining business, focused on innovative drugs, after Novartis spun out its generics division Sandoz this month....
Shah Capital wants change in US biotech’s strategy as its shares have tumbled since their pandemic peak
...The Swiss group is a cleaner proposition after spinning off its generics business Sandoz in October. But there is no time to stand still. Narasimhan must show that Novartis can increase revenues....
A company launched in 1963 confronts challenge of adapting to the rise of anti-obesity injections
US healthcare company is putting cash to work from spinning off its consumer health arm
...Avid Bioservices, a small-cap company that helps develop and manufacture drugs for pharmaceutical companies, filed this with the SEC yesterday: On February 29, 2024, Avid Bioservices, Inc....
Advocate general of bloc’s top court says decision against world’s biggest gene sequencing group should be annulled
A weight loss titan fights to stay relevant in the age of GLP-1 drugs
...The Medicines and Healthcare products Regulatory Agency has approved the therapy, called Casgevy, which was developed by Vertex Pharmaceuticals and Crispr Therapeutics....
...As part of that plan, the company is spinning off its generics drugs division Sandoz....
...Despite splashing out nearly $55bn on two major acquisitions over the past two years, the pharmaceutical company is worth less than it was before the pandemic....
US drugmaker is trying to chart its future without blockbuster Covid-19 products
...Swiss pharmaceutical giant Novartis has launched a $15bn share buyback programme after raising its outlook for the year on the back of strong sales....
...Rival pharmaceutical groups are eager to enter the market, including AstraZeneca, which recently signed a licensing deal with Chinese company Eccogene for the rights to its weight loss pill....
Millions of Paxlovid pills have gone unused as tight controls restrict access
Doubts grow over safety and effectiveness of drugs that were marketed as coronavirus treatments
...At one point pharmaceutical company Pfizer even set out a “no jerks” policy....
Investor worries about the impact of weight loss drugs on food companies are overdone
...Teresa Graham, chief of Roche’s pharmaceutical division, said more patients suffered from diseases of the immune system than from cancer, and the current drugs did not serve them well....
Biotech group hit by lower demand, with majority of write-offs relating to raw materials bought during pandemic
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