Shares in Novartis (NYSE:NVS) rose today after the pharmaceutical company met expectations on Wall Street with its 1st quarter earnings, but missed on sales largely thanks to growing pressure from generics to the company’s top-selling chemotherapy, Gleevec. The company posted profits of $1.92 billion, or 22¢ per share, on sales of $11.53 billion for the 3 months […]
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Reva plans $40m convertible note offering
Reva Medical (ASX:RVA) said yesterday that it’s planning a $40 million convertible note offering with several institutional and 1 undisclosed corporate investor to fund the company’s ongoing needs, including the clinical development of its Fantom sirolimus-eluting bioresorbable coronary scaffold. Upon issuance of the convertible notes, the company is slated to receive $32.5 in net cash […]
3M posts Street-beating Q1 results, updates full-year guidance
Shares in 3M (NYSE:MMM) rose today after the company met expectations on Wall Street with its 1st quarter results. The St. Paul, Minn.-based company posted profits of $1.32 billion, or $2.16 per share, on sales of $7.69 billion for the 3 months ended March 31, for bottom-line growth of 3.1% on sales growth of 3.8% compared with […]
Fresenius acquires generics drugmaker Akorn, Merck’s biosimilars biz
German healthcare company Fresenius (ETR:FRE) said today that it bought U.S. generic drugmaker Akorn Inc. (NSDQ:AKRX) for $4.75 billion and Merck KGaA’s biosimilars business. Since chief executive Stephan Sturm took the helm in June, the company has made takeovers a key part of its strategy. Fresenius bought a Spanish hospital chain for 5.8 billion euros […]
Eli Lilly’s diabetes drugs boost Q1 revenue, earnings
Shares in Eli Lilly (NYSE:LLY) fell slightly today as the company met expectations on Wall Street with its 1st quarter financial results. The company has faced its share of issues in the last year – Lilly took a $150 million hit in November after its Alzheimer’s drug failed in a clinical trial and this month, the […]
Medtronic touts drug-coated balloon in peripheral artery disease patients
Medtronic (NYSE:MDT) touted data today for its In.Pact Admiral drug-coated balloon in 2 sub-analyses of peripheral artery disease patients in the company’s In.Pact Global Study. The data were presented at the 2017 Charing Cross Symposium in London. Researchers presented 1-year outcomes in patients with complex lesions, as well as outcomes in a subset of patients with […]
Nanoparticle vaccine triggers immune system to fight multiple cancer types
Researchers from the University of Texas Southwestern Medical Center have developed a nanoparticle vaccine immunotherapy that fights multiple cancer types, according to a preclinical study published in Nature Nanotechnology. The nanovaccine, which the team calls a 1st of its kind, is made up of tumor antigens inside of a synthetic polymer nanoparticle. “What is unique about […]
Portal wins ISO certification for needle-free drug delivery device
Medical device start-up Portal Instruments said today that it won ISO 13485:2012 certification from the National Standards Authority of Ireland. The Cambridge, Mass.-based company is developing a hand-held, needle-free drug delivery device. The device can precisely administer high viscosity biologics directly through the skin using a collimated jet that is the size of a strand […]
Sanofi levels antitrust suit against Mylan over EpiPen device
Sanofi (NYSE:SNY) reportedly sued Mylan (NSDQ:MYL) today, accusing the company of illegally suppressing competition to the EpiPen device. The lawsuit filed in a New Jersey federal court alleges that Mylan’s conduct has cost Sanofi hundreds of millions of dollars in sales for its rival allergy treatment, Auvi-Q. Canonsburg, Penn.-based Mylan has found itself at the center of […]
Trump to meet with biotech execs, researchers to discuss federal funding
In the wake of President Donald Trump’s $6 billion proposed cut to the National Institutes of Health, biotech executives and researchers are slated to meet with the new administration next month. A memo about the meeting reportedly describes the get-together as a chance for the “private sector and thought leaders to describe their institution and […]