Tag Archive for: Covid-19

Merger and acquisition activity is on the rise after the biopharma industry moved on from the COVID-19 pandemic, while the role of AI in drug development is reaching new levels.

The U.S. CDC plans to drop its five-day COVID-19 isolation recommendations under new guidance planned by the agency, the Washington Post reported on Tuesday.

AstraZeneca on Thursday released its fourth-quarter and full-year financial results, touting 6% total revenue growth for 2023 even as its COVID-19 business plummeted by more than 90%.

Laboratory operator Quest Diagnostics beat fourth-quarter estimates and forecast 2024 sales above Wall Street expectation on Thursday, as it benefits from strong demand for its routine testing kits, excluding COVID products.

Today the company reported a surprise quarterly profit on Tuesday, helped by cost-cutting measures and fewer returns of its COVID treatment Paxlovid by the U.S. government than it had expected, but revenue fell short of Wall Street estimates.

“Would-be insider traders tempted by the prospect of easy money should know that the Southern District of New York is watching, we’ll catch you, and we’ll make sure you pay the price for violating the law,” stated Damian Williams, United States Attorney for the Southern District of New York.

Governments have struggled to communicate the risks still posed by COVID and the benefits of vaccination since a global public health emergency was declared over in May 2023.

Today the company said it expects to return to revenue growth in 2025 when the ongoing decline in its COVID-19 vaccine business would bottom out, and that it would invest to scale up its oncology business thereafter.

The most recent weekly data from the Centers for Disease Control and Prevention showed there were over 29,000 hospitalizations from COVID across the U.S. from Dec. 17-23, up more than 16% from the previous week. The CDC also reported over 14,700 flu hospitalizations in that same period.

The updated Novavax shot, which was authorized in the U.S. last month, targets a descendant of the XBB lineage of the coronavirus that was globally predominant earlier this year.