TipsForTraders

GSK Settles Another California Lawsuit on Heartburn Drug Zantac

Cam White | October 11, 2023

By Eva Mathews and Maggie Fick (Reuters) – GSK on Wednesday said it agreed to settle another lawsuit in California alleging its discontinued heartburn drug Zantac caused cancer, as the British drugmaker sought to end costly litigation that has weighed on shares. The company, which has so far only settled cases in California, did not […]

2seventy Bio to Lay Off 40% Of Workforce; CEO to Step Down

Cam White | September 25, 2023

(Reuters) -2seventy bio said on Tuesday it plans to lay off about 40% of its workforce to lower costs and focus on the biotech firm’s cancer cell therapy Abecma, lifting the company’s shares more than 8% in premarket trade. The company added that CEO Nick Leschly will step down and transition to the role of […]

Musk’s Neuralink to Start Human Trial of Brain Implant for Paralysis Patients

Cam White | September 19, 2023

(Reuters) -Billionaire entrepreneur Elon Musk’s brain-chip startup Neuralink said on Tuesday it has received approval from an independent review board to begin recruitment for the first human trial of its brain implant for paralysis patients. Those with paralysis due to cervical spinal cord injury or amyotrophic lateral sclerosis may qualify for the study, it said, […]

Moderna to Scale Down Manufacturing of COVID Vaccine

Cam White | September 13, 2023

By Patrick Wingrove (Reuters) -Moderna on Wednesday announced it was scaling down manufacturing of its COVID-19 vaccine, an updated version of which was approved this week by U.S. regulators, to align with lower post-pandemic demand and help the company sooner hit its target of 75% to 80% gross margin growth. Moderna is in talks with […]

Biogen to buy Reata for $6.5 billion to bulk up rare disease portfolio

Cam White | July 28, 2023

(Reuters) – Biogen said it would buy biotech firm Reata Pharmaceuticals for roughly $6.5 billion to expand its presence in the rare disease drugs market. Biogen will pay $172.50 per share in cash, which represents a 58.9% premium to Reata’s last closing price. It expects to finance the acquisition with cash on hand, supplemented by […]

Pfizer, Flagship Pioneering to Invest $100 Million for Drug Discovery

Cam White | July 18, 2023

(Reuters) – U.S. drugmaker Pfizer and venture capital firm Flagship Pioneering on Tuesday agreed to invest $100 million to discover and develop 10 new potential drugs targeting diseases with few or no treatment options. Flagship, which has stakes in several other biotech companies including Moderna, will invest $50 million in the Pfizer partnership. Its drug […]

Bausch + Lomb to buy Novartis dry-eye drug for $1.75 billion – WSJ

Cam White | June 30, 2023

(Reuters) -Bausch + Lomb Corp will purchase a dry-eye drug from Swiss pharma company Novartis for $1.75 billion, the Wall Street Journal reported on Friday, as the contact lens maker seeks to capitalize on a growing market for the disease’s treatment. Acquisition of the drug, Xiidra, will mark the first big deal by CEO Brent […]

GSK settles first Zantac cancer lawsuit due for US trial

Cam White | June 23, 2023

By Natalie Grover and Eva Mathews (Reuters) -GSK agreed its first settlement over a U.S. lawsuit alleging its discontinued heartburn drug Zantac caused cancer, the British pharmaceutical giant said on Friday, preventing the first such case from going to trial next month. The company said it had reached a confidential deal with Californian resident James […]

AstraZeneca signs $2 billion agreement with Quell to develop cell therapies

Cam White | June 9, 2023

(Reuters) – AstraZeneca said on Friday it had signed an agreement with Quell Therapeutics potentially worth more than $2 billion to develop cell therapies that could cure autoimmune diseases. The agreement includes developing, manufacturing and commercializing cell therapies that have the potential to be curative in type 1 diabetes and inflammatory bowel disease indications, the […]

AstraZeneca’s Tagrisso slashes death risk in certain post-surgery lung cancer patients

Cam White | June 4, 2023

By Natalie Grover LONDON (Reuters) – AstraZeneca’s lung cancer therapy, Tagrisso, cut the risk of death by more than half in patients with a certain form of lung cancer who were diagnosed early enough to have their tumour surgically removed, trial data showed. Tagrisso is already the crown jewel in the Anglo-Swedish drugmaker’s portfolio, raking […]

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