HONG KONG (Reuters) – Embattled property developer China Evergrande Group said on Thursday that holders of more than 77% of its Class A offshore debt by value submitted support for its restructuring proposal, and it would extend the deadline for receiving an incentive to 5:00 p.m. Hong Kong time on May 18. Term sheets published…
By Natalie Grover and Maggie Fick LONDON (Reuters) -AstraZeneca on Thursday beat expectations for first-quarter profit and revenue, as buoyant sales of cancer treatment Imfinzi and strong demand for its roster of drugs in emerging markets helped to offset dwindling COVID product sales. The company’s sales and outlook highlight the rapid decline of its COVID…
(Reuters) -Eli Lilly and Co on Thursday raised its annual revenue and profit forecasts after topping first-quarter sales estimates on demand for its closely watched diabetes drug Mounjaro, ahead of a decision on its use as a treatment for obesity. The company separately said it planned to complete rolling submission to the U.S. Food and…
(Reuters) -Drugmaker Merck & Co Inc on Thursday posted better-than-expected results for the first quarter on the strength of its blockbuster cancer immunotherapy Keytruda and human papillomavirus (HPV) vaccine Gardasil. Shares of the company rose 1.8% to $114.98 in premarket trading after the drugmaker raised its full-year forecasts for sales and earnings, citing strong global…
By Scott Murdoch and Donny Kwok (Reuters) -Chinese spirit maker ZJLD Group’s shares ended down 18% on their first day of trading on Thursday, dampening hopes that a positive debut for the largest new share sale in Hong Kong in 2023 could spark a rush of listings in the second half. The KKR-backed company raised…
By Kanishka Singh WASHINGTON (Reuters) – The U.S. Justice Department on Wednesday filed a complaint challenging a new Tennessee law that bans doctors from providing gender-affirming medical treatment such as puberty blockers, hormone therapy and surgery to transgender minors. The Justice Department said the law violated the U.S. Constitution’s Fourteenth Amendment, which promises equal protection….
By Blake Brittain (Reuters) – Moderna Inc failed to persuade a Delaware federal judge on Wednesday to shift liability from the company to the U.S. government for alleged patent infringement by Moderna’s COVID-19 vaccine. Chief Judge Colm Connolly’s ruling for Alnylam Pharmaceuticals Inc came just over a month after a different judge in Delaware rejected…
(Reuters) -The U.S. health regulator on Wednesday approved Seres Therapeutics Inc’s pill for treating a type of bacterial infection, giving an easier and standardized option to patients who often have to rely on individual donors for fecal transplants. The drug, branded as Vowst, was approved for treating 18 years and older for recurrent Clostridioides difficile…
By Brendan Pierson (Reuters) -President Joe Biden’s administration on Wednesday urged a U.S. appeals court to overrule a conservative Texas-based judge’s order that would essentially ban the abortion pill mifepristone by suspending the drug’s federal regulatory approval in a legal challenge by abortion opponents. The U.S. Justice Department, in a filing to the New Orleans-based…
By Khushi Mandowara and Leroy Leo (Reuters) -Humana Inc raised its annual adjusted profit forecast on Wednesday after lower medical costs in the firm’s government-backed health insurance business helped it beat profit estimates for the first quarter. The company’s upbeat outlook contrasts the uncertainty around 2024 earnings for health insurers staring at the end of…
