The European Commission has approved Novo Nordisk‘s (NYSE:NVO) once-weekly semaglutide drug, Ozempic, as a treatment for adults with Type II diabetes. The GLP-1 analogue’s label in Europe recommends that the drug is given when metformin is contraindicated or not tolerated, Novo Nordisk reported today. The E.U. agency approved Ozempic for use in a multi-dose pre-filled pen, but […]
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Rani Therapeutics nabs $53m for robotic pill injection tech
Rani Therapeutics has raised $53 million to support manufacturing as it gears up for clinical trials of its robotic pill technology. New investors like GeneScience Pharmaceuticals and Shire (NSDQ:SHPG) joined existing investors like Alphabet’s GV, Novartis (NYSE:NVS) and AstraZeneca (NYSE:AZN). Rani Therapeutics, an InCube Lab spin-out started in 2012, has developed a capsule that delivers an intestinal injection […]
Teva shares tumble after “challenging” Q4, FY17
Shares in Teva Pharmaceuticals (NYSE:TEVA) fell today after the pharmaceutical company missed sales expectations on Wall Street with its fourth quarter results. The Israel-based company posted a net loss of -$11.6 billion, or -$11.43 per share, on sales of $5.46 billion for the 3 months ended Dec. 31, for a sales loss of -16% compared with […]
pSivida touts 12-month data from Ph3 trial of Durasert ocular insert
pSivida (NSDQ:PSDV) touted results today from a second Phase III trial that the company conducted for its three-year posterior segment uveitis treatment. The 153-patient study found that there was a significant reduction in the recurrence of posterior segment uveitis through 12 months in the group treated with pSivida’s drug-releasing ocular insert, Durasert. Just 37% of people […]
Surmodics misses sales estimates in Q1
Shares in Surmodics (NSDQ:SRDX) fell slightly today after the medical device maker missed expectations on Wall Street with its first quarter results. The Eden Prairie, Minn.-based company swung to a net loss of -$1.5 million on sales of $17.0 million for the 3 months ended Dec. 31, for a sales loss of -4% compared with the […]
Novocure lands $150m term loan
Novocure (NSDQ:NVCR) has inked a $150 million term loan agreement with Pharmakon Advisors’ investment fund, BioPharma Credit. The St. Helier, N.J.-based company plans to set aside some of the new funds for working capital, as well as pay off its existing $100 million term loan debt. “Novocure is a global oncology company with a proprietary platform […]
FDA rejects Novartis’ Advair generic, leaving GSK without rival
GlaxoSmithKline (NYSE:GSK) was granted a temporary win today after Novartis‘ (NYSE:NVS) Sandoz unit reported that the FDA rejected its application for a generic version of the company’s blockbuster lung treatment, Advair. The regulatory agency reportedly told Novartis that it needs to submit additional clinical data before the FDA can make its final decision. GSK said in […]
Impel NeuroPharma touts proof-of-concept trial for intranasal migraine drug
Privately-held biotech Impel NeuroPharma touted positive results today from a Phase I trial of its acute migraine headache therapy. The Seattle-based company’s drug is delivered intranasally using its Precision Olfactory Delivery device, which is designed to deliver drugs to the upper nasal cavity and target the brain using the olfactory and trigeminal nerves. The proof-of-concept […]
How the Apple Watch & other wearables could help highlight early signs of diabetes
Researchers have found that using Cardiogram‘s deep neural network technology, data collected from ordinary wearables could help flag early signs of diabetes. In one 14,000-person study, the company’s DeepHeart technology was able to distinguish between people with and without diabetes at 85% accuracy. Investigators from Cardiogram and the University of California San Francisco presented the […]
Abbott’s FreeStyle Libre glucose monitoring app launches in Europe
Abbott (NYSE:ABT) said today that it launched an app for its FreeStyle Libre glucose monitoring system in Europe that can be used with both iPhone and Android smartphones. The mobile app is designed to give people with diabetes direct access to their glucose data on their smartphones. Without the app, FreeStyle Libre users have to carry […]