GlaxoSmithKline
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Overall, Pfizer posted a good first quarter, with sales slightly higher and a 14 percent increase in profits due to lower restructuring costs and a significantly lower tax rate. However, revenue was below Wall Street expectations.
At the end of 2016, there were an estimated 36.7 million people living with HIV across the globe. With a large and growing patient population, the market for HIV treatments is expected to grow to $22.5 billion by 2025.
Shares of SteadyMed Ltd. have skyrocketed more than 77 percent in premarket trading today after United Therapeutics announced it will acquire the company for a total of $216 million, including $75 million in contingent consideration.
Only days after UK-based Mereo BioPharma canceled its plans for an initial public offering (IPO) on the Nasdaq Global Market, Framingham, Massachusetts-based Alzheon dropped its IPO plans.
At the World Medical Innovation Forum, panelists observed that AI can be used to scour old clinical trial data for new applications and possibly take over part of clinical trials in “virtual” models.
Despite strong sales of shingles vaccine Shingrix, GlaxoSmithKline reported its sales and earnings fell 2 percent in the first quarter of the year, largely due to challenges in respiratory sales as well as significant currency impact.
Sanofi announced that Elias Zerhouni, head of Global Research and Development, is retiring on June 30. The company has appointed John Reed to replace him as of July 1.
Shares of Novartis are down nearly 3 percent this morning after the company reported a sharp decline in generic drugs and sales results from key branded medicines that missed analysts’ projections for the first quarter.
The use of artificial intelligence and machine learning in drug development has been ramping up and investors are taking keen notice of the growing trend. This morning BenevolentAI snagged $115 million.
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