Baby formula manufacturer Reckitt Benckiser’s Mead Johnson Nutrition has issued a voluntary recall of specific batches of Nutramigen Powder due to potential bacterial contamination, as reported by the U.S. Food and Drug Administration (FDA). The affected batches, produced in June and distributed throughout the summer, pose risks of bacterial infections such as sepsis and meningitis.… Continue reading Reckitt Benckiser unit recalls possibly contaminated baby formula powder, FDA says

In 2024, the U.S. healthcare landscape faces a pivotal moment as Medicare embarks on direct negotiations with drug manufacturers for the pricing of prescription medications—a historic shift enabled by President Joe Biden’s Inflation Reduction Act. Medicare’s negotiation authority, effective after nearly 60 years, aims to make essential treatments more affordable for seniors. The negotiations will… Continue reading Biden administration’s Medicare drug price negotiations will face major tests in 2024

The health-care sector has witnessed a significant recovery, erasing a substantial portion of its losses for the year during the December market rally, with beaten-down biotech and medical device companies experiencing a notable rebound. Despite this positive trend, analysts express a mixed outlook for the health-care sector in 2024, citing challenges such as overhead resistance… Continue reading Here are the big health sector themes to watch next year

Bristol Myers Squibb has entered into a definitive agreement to acquire Karuna Therapeutics, a biopharmaceutical company, for $14 billion in cash, translating to $330 per share. Following this announcement, Karuna’s stock surged over 47% to $317.85 per share, while Bristol Myers Squibb’s shares experienced a 2% increase. The acquisition is strategically significant for Bristol Myers… Continue reading Karuna Therapeutics surges 47% after Bristol Myers Squibb announces $14 billion deal

Singapore’s recent surge in Covid-19 cases, reaching 56,043 in the week of December 3 to 9, has shown signs of potentially peaking, according to Health Minister Ong Ye Kung. The spike represents a 75% increase compared to the previous week. The country has been grappling with the JN.1 variant, classified as a “variant of interest”… Continue reading Singapore’s latest Covid spike may be peaking, but don’t stop vaccinating, health minister says

As winter officially begins, concerns arise regarding the expected increase in flu and Covid cases, according to Dr. Mandy Cohen, the director of the Centers for Disease Control and Prevention (CDC). The U.S. is currently experiencing a notable surge in flu levels, particularly in the southern regions, and there is a simultaneous climb in Covid… Continue reading CDC director says U.S. isn’t yet near peak Covid or flu levels for the season

Laura Tyler Perryman, the co-founder and former CEO of medical device startup Stimwave Technologies, is facing charges of defrauding investors to the tune of $41 million. The U.S. Securities and Exchange Commission (SEC) filed a complaint alleging that Perryman engaged in deceptive practices by making “false and misleading” statements regarding one of Stimwave’s devices. The… Continue reading SEC charges ex-CEO of medical device company with fraud, says some devices were ‘just a piece of plastic’

In the pharmaceutical landscape, 2023 witnessed transformative developments, setting the stage for significant shifts in the industry in 2024 and beyond. Several historic firsts emerged, reshaping the dynamics of drug markets, with notable breakthroughs and challenges across various therapeutic areas. 1. Weight Loss Drugs Surge: The weight loss drug market emerged as the pharmaceutical industry’s… Continue reading Weight loss drugs, Alzheimer’s treatments and gene editing: Enormous firsts defined 2023 in pharma

The weight loss drug market experienced significant growth in 2023, driven by the popularity of drugs like Wegovy and Zepbound, which helped patients lose substantial weight. Despite high prices, mixed insurance coverage, and some side effects, demand for these drugs is expected to continue in 2024, with analysts projecting the market to be worth $100… Continue reading The weight loss drug boom isn’t over yet — here’s what to expect in the year ahead

Gene sequencing company Illumina has announced its decision to divest cancer diagnostic test maker Grail after facing opposition from both U.S. and European antitrust enforcers and challenges from activist investor Carl Icahn. The divestiture will occur through a third-party sale or capital markets transaction, with finalization expected by the second quarter of 2024. Grail, valued… Continue reading Illumina to divest cancer test maker Grail after antitrust battles

The Food and Drug Administration (FDA) has announced a recall of certain Coca-Cola products in the United States. The recall, initiated by United Packers based in Alabama, began on November 6 and involves specific batches of 12-ounce cans of Sprite, 417 cases of Diet Coke, and 14 cases of Fanta Orange. The details of the… Continue reading Coca-Cola recalled 2,000 cases of drinks due to potential contamination

The Supreme Court has decided to take on a significant legal battle that may determine the accessibility of the drug most commonly used for medication abortions, particularly through mail-order services. The case involves appeals from the Biden administration and drug-maker Danco, the manufacturer of the brand version of the medication known as Mifeprex. The medication… Continue reading Supreme Court agrees to hear showdown over abortion pill access