Health News Roundup: US suspends federal funding to Wuhan lab over non-compliance; J&J expects cancer drugs, medical devices to drive growth in 2023 and more

Demand for medical devices is expected to rise this year, tracking a recovery in non-urgent surgical procedures across the U.S., as older adults in particular get more comfortable visiting hospitals and staffing shortages at those facilities ease. As cell-cultivated meat hits menus, investors see scaling as next hurdle Cell-cultivated meat companies could receive new investment since U.S. regulators cleared the product's sale last month, but the sector must scale up and lower costs to seriously challenge conventional meat, said investors and major food companies.

Following is a summary of current health news briefs.

US suspends federal funding to Wuhan lab over non-compliance

The U.S. has suspended federal funding to China's Wuhan Institute of Virology (WIV) for failing to provide documentation related to concerns over biosafety protocol violations at the facility that has faced questions for years over the origins of the COVID-19 pandemic. The U.S. Department of Health and Human Services (HHS) also said it wants to bar the Chinese research body from participating in government procurement and non-procurement programs going forward.

J&J expects cancer drugs, medical devices to drive growth in 2023

Johnson & Johnson forecast 2023 profit above Wall Street estimates on Thursday, banking on strong demand for its cancer drugs and a recovery in sales of its medical devices due to an uptick in surgical procedures such as hip and knee replacements.

Shares of J&J rose about 1% in premarket trading.

Hikma, Fresenius shares rally after tornado hits rival Pfizer's U.S. plant

Shares in UK pharmaceutical company Hikma rose by the most in 10 months on Thursday after tornado damage to a U.S. facility owned by competitor Pfizer boosted other drugmakers' stock. Pfizer said on Wednesday its plant in Rocky Mount, North Carolina, which is one of the world's largest sterile injectable product facilities, suffered heavy damage from a tornado.

Pfizer plant in North Carolina damaged by tornado

Drugmaker Pfizer Inc said on Wednesday its plant in Rocky Mount, North Carolina, which is one of the largest sterile injectable product facilities in the world, has suffered heavy damage from a tornado. A company spokesperson in an emailed statement confirmed that the Rocky Mount facility was damaged and the drugmaker was assessing the situation to determine the impact on production.

Ramsay, Sime Darby tap BofA, Deutsche to sell $1.3 billion Asia healthcare venture - sources

Australia's Ramsay Health Care and Malaysia's Sime Darby have hired Bank of America and Deutsche Bank to sell their $1.3 billion healthcare joint venture, two sources with direct knowledge of the matter said. The companies could launch the sale of Selangor, Malaysia-based Ramsay Sime Darby Health Care within the next two months depending on market conditions, one of the sources said.

J&J-spinoff Kenvue forecasts upbeat annual profit on strong self-care demand

Kenvue, the former consumer health unit of Johnson & Johnson, forecast full-year profit above Wall Street estimates on Thursday, betting on resilient demand for its skincare and self-care products such as Neutrogena and Tylenol. Consumers focusing on spending on essential, daily use products amid a cost-of-living crisis in some parts of the world has boosted companies such as Kenvue and peer Haleon.

WHO says contaminated cough syrup sold in Cameroon

The World Health Organization on Wednesday said a batch of cough and cold syrup sold in Cameroon under the brand name Naturcold contained extremely high levels of a toxic ingredient, the latest in a series of recent warnings about contaminated cough syrups. The packaging label on the syrup showed it was manufactured by a company called Fraken International (England), but the UK health regulator said no such company exists in the country, the WHO said.

WHO urges govts to set up surveillance for people at risk from heatwaves

The World Health Organization on Wednesday urged governments and local authorities to set up a strong surveillance system for people who are most at risk of severe symptoms from a heatwave that is baking the northern hemisphere.

People with cardiovascular and respiratory diseases and diabetes, as well as pregnant women, children and homeless people, are seen as the most vulnerable to heatwaves that have scorched parts of Europe, Asia and the United States this week.

Abbott beats profit estimates on recovery in demand for medical devices

Abbott Laboratories on Thursday reported second-quarter profit above expectations, due to recovery in surgical procedure volumes and demand for its diabetes care devices. Demand for medical devices is expected to rise this year, tracking a recovery in non-urgent surgical procedures across the U.S., as older adults in particular get more comfortable visiting hospitals and staffing shortages at those facilities ease.

As cell-cultivated meat hits menus, investors see scaling as next hurdle

Cell-cultivated meat companies could receive new investment since U.S. regulators cleared the product's sale last month, but the sector must scale up and lower costs to seriously challenge conventional meat, said investors and major food companies. Several startups have developed the technology to grow meat from harvested animal cells, hoping to court meat-eaters seeking a more environmentally friendly option and vegans or vegetarians who avoid meat for moral reasons.