ReutersJohnson & Johnson rescinded the company’s forecast for sales of its COVID-19 vaccine, as hesitancy in low income countries has led to a glut of supply of a shot once hoped to be the inoculation of choice for the developing world.
Boehringer Ingelheim announced the company’s intention to pump €25 billion ($27 billion) into its R&D pipeline over the next five years.
Real Chemistry, a global health innovation company committed to making the world a healthier place for all, announced its 2021 business results. The company achieved revenue of $475 million, reflecting 36% growth for the full year compared to 2020.
Over the past six months, the Nasdaq Biotechnology Index has declined more than 20%. Some of the falling prices appear to be due to some investors losing interest in many companies that soared into favor during the COVID-19 pandemic. And these companies that have seen declining investor interest are now struggling to raise finances, according to BioSpace
Teva Pharmaceutical Industries Ltd. reported solid results for full-year 2021, posting $15.9 billion in revenue including a gain of $4.1 billion from the fourth quarter. The company recently settled an opioid-related case in Texas and is preparing to pay as much as $3.6 billion in cash and medicine to settle the lawsuits filed against Teva.
Merck & Co. expects the company’s 2022 sales to increase as much as 18 percent over 2021, mostly on sales of the new COVID-19 pill molnupiravir.
Massachusetts-based biotechnology firm Biogen and its Tokyo-based partner Eisai are seeking a speedy approval from the U.S. Food and Drug Administration for a second Alzheimer’s disease drug, lecanemab.
Novartis reported second-quarter 2021 financials with net sales growing 15 percent to $12.96 billion. The company also reported on its Covid-19 vaccine production with CureVac and some pipeline updates.
Amryt inked an all-stock acquisition deal with Chiasma. The combined company will focus on rare and orphan diseases with three marketed products and a strong development pipeline.
Merck & Co. Inc. said on April 29 the company would take a bigger hit to sales during 2021 than previously expected due to a resurgence in Covid-19 cases that has hurt demand for drugs that need to be given by doctors.