Eli Lilly and Co. on Tuesday forecast its annual profit and revenue below estimates, as a stronger dollar piled more pressure on the drugmaker struggling with lower insulin prices and generic competition for its cancer drug.
The therapy Tecvayli is a bispecific antibody, which is engineered to redirect body’s immune system to recognize and kill cancer cells. It is the first drug of its class to be approved for multiple myeloma.
Johnson & Johnson on Tuesday posted better than expected third-quarter earnings on strong demand for its cancer drug Darzalex, but said it may still cut some jobs as it contends with inflationary pressure and challenges created by the strong dollar.
The top pharma companies in 2021 continued to be engaged in creating vaccines and therapeutics, and the investments in R&D led to greater revenue and earnings.
Biogen may have found its CEO in Mathai Mammen – former head of research and development in pharmaceuticals at Johnson & Johnson – following the pending departure of current company head Michel Vounatsos.
A U.S. bankruptcy judge has blocked New Mexico and Mississippi from pursuing lawsuits accusing Johnson & Johnson of misleading consumers about the safety of its talc products, such as its baby powder, for now.
A 3-judge panel questioned the legitimacy of Johnson & Johnson’s plan to form a subsidiary company with the purpose of absorbing legal liabilities from talc-related lawsuits.
People suing Johnson & Johnson over the company’s talc products urged an appeals court on Monday to revive their claims, saying the profitable company should not be allowed to use a bankrupt subsidiary to block lawsuits alleging the products cause cancer.
Johnson & Johnson (J&J) has reached a A$300 million ($204.90 million) settlement in two Australian class action suits filed by Shine Lawyers for selling defective pelvic mesh implants to Australian women, the law firm said on Monday.
Johnson & Johnson has agreed to pay $40.5 million to settle New Hampshire’s claims over the company’s role in the opioid epidemic, averting a trial that had been scheduled to begin next week.