Elon Musk’s neurotech startup, Neuralink, achieved a significant milestone by successfully implanting its brain device in a human for the first time. Elon Musk shared on X (formerly Twitter) that the patient is “recovering well.” Neuralink is developing a brain implant, named Telepathy, with the goal of assisting individuals with severe paralysis in controlling external… Continue reading Elon Musk’s Neuralink implants brain tech in human patient for the first time

The CEOs of pharmaceutical giants Merck and Johnson & Johnson have voluntarily agreed to testify at an upcoming Senate hearing on high drug prices in the U.S., according to an announcement by Sen. Bernie Sanders. The Senate Health, Education, Labor and Pensions Committee has scheduled the hearing for Feb. 8 at 10 a.m. ET, focusing… Continue reading Merck, Johnson & Johnson CEOs agree to testify in Senate hearing on high drug prices

Big pharmaceutical companies, including Bristol Myers Squibb, Merck, and Johnson & Johnson, are poised to face significant challenges as their blockbuster drugs approach the “patent cliff,” a period when the patents for leading branded products expire. This exposes these drugs to competition from lower-priced generic alternatives, potentially leading to a decline in revenue for the… Continue reading Big pharma is at a crossroads, as J&J, Merck and others prepare to lose heaps of revenue from blockbuster drugs

Tyson Foods is set to become one of the first Fortune 100 companies to break ties with traditional large pharmacy benefits managers (PBMs) in an effort to reduce spending on high-cost drugs. After opening its benefits contract to bids, Tyson chose PBM startup Rightway over CVS Health’s Caremark. Rightway offers a transparent model that guarantees… Continue reading Tyson Foods drops CVS for upstart pharmacy benefit manager, as industry upheaval over cost concerns spreads

Shares of health insurer Humana experienced a sharp decline as the company issued a disappointing full-year earnings guidance, citing escalating medical costs impacting the broader insurance industry. The surge in expenses is linked to a growing number of older adults returning to hospitals for delayed pandemic procedures like joint and hip replacements. Humana, known for… Continue reading Humana stock plunges on dismal 2024 forecast, as insurers face soaring medical costs

Gilead Sciences faced a significant setback as its key cancer drug, Trodelvy, did not show a significant extension in the lives of patients with a specific type of lung cancer in a late-stage trial. Following the disappointing results, Gilead’s shares plunged over 10% on Monday. Trodelvy is a crucial component of Gilead’s efforts to establish… Continue reading Gilead stock falls after lung cancer study results disappoint

Johnson & Johnson (J&J) reported fourth-quarter earnings and revenue that slightly surpassed Wall Street’s expectations, leading to a more than 7% increase in the company’s stock. The financial results, considered indicative of the broader health sector, revealed total sales of $21.40 billion for Q4 2023, reflecting a 7.3% increase compared to the same period in… Continue reading Johnson & Johnson narrowly tops quarterly estimates as pharmaceutical, medtech sales jump

Shares of Gilead saw a significant drop of more than 10% on Monday following disappointing results from a late-stage trial of its key cancer drug, Trodelvy. The drug, which is already a major contributor to Gilead’s oncology sales, failed to significantly extend the lives of patients with a specific type of lung cancer in the… Continue reading Gilead stock falls after lung cancer study results disappoint

Alpha Cognition Inc. has completed a final closing pursuant to its previously announced brokered private placement of units of the company. Pursuant to the final closing, the company issued 16,965,762 units of the company at a price of 22 U.S. cents per unit for gross proceeds of $3,732,467 (U.S.). Each unit consists of a common… Continue reading ALPHA COGNITION ANNOUNCES FINAL CLOSING OF PRIVATE PLACEMENT OFFERING AND COMPLETION OF THE OVERALLOMENT

In the increasingly competitive market for weight loss drugs, drugmakers are vying to capture a share of what is anticipated to be a lucrative sector potentially worth tens of billions of dollars within the next decade. The demand for effective weight loss treatments is on the rise, and lesser-known contenders are entering the race to… Continue reading The weight loss drug market may soon get more crowded. Here are the companies trying to enter the booming space

The weight loss drug market, anticipated to be worth tens of billions in the next decade, is drawing significant interest from pharmaceutical companies. While Novo Nordisk and Eli Lilly dominate this space, the surge in demand has prompted other players to join the race. Beyond well-known contenders like Pfizer, Amgen, Roche, and AstraZeneca, smaller entities… Continue reading The weight loss drug market may soon get more crowded – here are the companies trying to enter the booming space

The JPMorgan Healthcare Conference in San Francisco highlighted the burgeoning interest in antibody-drug conjugates (ADCs) within the biotech and pharmaceutical industry. ADCs, which deliver targeted cancer therapies, gained significant attention during the event, with companies like Johnson & Johnson investing $2 billion in acquiring ADC-developer Ambrx Biopharma. The enthusiasm for ADCs is expected to continue… Continue reading Biotech and pharma companies are betting on a promising class of cancer drugs to drive growth