Johnson & Johnson baby powder

A Johnson & Johnson subsidiary came under attack in court on February 14 for attempting to use the bankruptcy process to resolve tens of thousands of claims that J&J’s baby powder and other talc-based products caused cancer.

The U.S. Commerce Department added 33 Chinese entities to an “unverified list,” requiring U.S. exporters to undergo more procedures before shipping goods to the companies. WuXi Biologics was amongst those on the list, with the United States stating that it was unable to verify the legitimacy and reliability of the company’s use of U.S. exports. 

CureVac’s Covid-19 vaccine was 48 percent effective in the final analysis of the company’s pivotal mass trial, only marginally better than the 47 percent reported after an initial read-out two weeks earlier.

Mallinckrodt Plc hired restructuring firms and may choose to seek bankruptcy protection, Bloomberg reported, sending the drugmaker’s shares down 40 percent.

Lundbeck’s shares plunged after announcing the new drug candidate Lu AF35700 for treatment-resistant schizophrenia failed to differentiate itself against conventional therapies in Phase III.

Elanco Animal Health’s shares climbed 36 percent in their stock market debut, in a sign of investor enthusiasm for the fast-growing pet healthcare market.

Shire, a global biotechnology company focused on rare diseases, sold its oncology business to France’s Servier for $2.4 billion.

Japanese drugmaker Daiichi Sankyo denied that it received a takeover bid during 2016 from Britain’s AstraZeneca.

Theranos reportedly failed to notify patients in Arizona about potentially deficient diabetes tests.

OncoGenex is exploring strategic alternatives after its experimental drug failed to show survival benefit in a late-stage study for advanced prostate cancer.