Health News Roundup: AstraZeneca to withdraw COVID vaccine globally as demand dips; Drugmaker Abbott India posts Q4 profit rise on higher sales and more

Japan's biggest drugmaker said it will incur restructuring costs of about 140 billion yen ($899 million) this fiscal year as part of a plan to optimise its workforce, cut costs and strengthen technology. Drugmaker Abbott India posts Q4 profit rise on higher sales Indian drugmaker Abbott India reported a 24% rise in fourth-quarter profit on Thursday, as strong sales outpaced the impact of government pricing caps on certain medicines.

Following is a summary of current health news briefs.

Pfizer agrees to settle over 10,000 Zantac lawsuits, Bloomberg News reports

Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal. The agreements cover cases in U.S. state courts but don't completely resolve the company's exposure to Zantac claims, the report said, adding that financial details of the deals were not immediately available.

Masimo prepared to provide one board seat if activist Politan drops proxy contest

Masimo said on Thursday that it is prepared to appoint Politan Capital Management's nominee William Jellison as a director on its board, if the activist investor withdraws its other nominee and drops its proxy contest. Quentin Koffey-owned Politan has long criticized Masimo's capital allocation and board oversight and expressed particular concern about its $1 billion purchase of consumer audio products maker Sound United in 2022.

Merck's endometrial cancer therapy fails trial

Merck said on Thursday its therapy being tested in certain patients with a type of cancer in the uterus lining failed a late-stage trial. The drugmaker's Keytruda therapy in combination with chemotherapy was being evaluated in about 1,095 patients with high-risk endometrial cancer after surgery.

NYC sued for denying gay employees in vitro fertilization coverage

New York City was hit with a lawsuit on Thursday claiming it discriminates against gay male city employees by only covering the costs of in vitro fertilization for women and heterosexual couples. The proposed class action was filed in Manhattan federal court by former assistant district attorney Corey Briskin and his husband, who say they were forced to put off having a family for years because the city's employee health insurance plan denied them coverage for IVF procedures.

AstraZeneca to withdraw COVID vaccine globally as demand dips

AstraZeneca said on Tuesday it had initiated the worldwide withdrawal of its COVID-19 vaccine due to a "surplus of available updated vaccines" since the pandemic. The company also said it would proceed to withdraw the vaccine Vaxzevria's marketing authorizations within Europe.

Viagra maker Viatris misses revenue estimates on weak demand for older drugs

Drugmaker Viatris narrowly missed first-quarter revenue estimates on Thursday, hurt by weak sales for its older drugs such as cholesterol medication Lipitor and Norvasc for high blood pressure. Net sales in its branded drugs unit, which makes up two-thirds of the company's total revenues, also fell 4.5% to $2.31 billion.

Japan's Takeda Pharma to restructure after annual profit slump

Japan's Takeda Pharmaceutical announced a restructuring on Thursday after annual profit slid by more than half following the loss of patent protection of major sellers. Japan's biggest drugmaker said it will incur restructuring costs of about 140 billion yen ($899 million) this fiscal year as part of a plan to optimise its workforce, cut costs and strengthen technology.

Drugmaker Abbott India posts Q4 profit rise on higher sales

Indian drugmaker Abbott India reported a 24% rise in fourth-quarter profit on Thursday, as strong sales outpaced the impact of government pricing caps on certain medicines. The company, which makes the popular antacid medicine Digene, said its profit rose to 2.87 billion rupees ($34.3 million) for the three months ended March 31, from 2.31 billion rupees a year earlier.

US FDA advises healthcare facilities to switch from Getinge's heart devices

The U.S Food and Drug Administration (FDA) on Wednesday advised healthcare facilities to move away from using Getinge's heart devices in patients as they faced safety and quality concerns despite a string of recalls. The recommendation is based on concerns that the company has not sufficiently addressed the problems and risks with the recalled devices, it added.

Novo Nordisk ties up with Metaphore to develop new obesity drugs

Novo Nordisk signed a research tie-up with U.S. biotech firm Metaphore on Thursday to develop next-generation obesity drugs. WHY IT'S IMPORTANT

(With inputs from agencies.)