Health News Roundup: Roche CFO flags need to bolster late-stage drug development; Roche: have abandoned some trials due to U.S. drug pricing plans and more

It now expects 2023 revenue to fall by low-single-digit percentages, compared with its previous forecast of a 2% increase in revenue for the year. U.S. orders antiviral drugs worth $138 million from SIGA Tech SIGA Technologies Inc on Thursday said it has won a new contract for its antiviral drug, Tpoxx, from the U.S. Department of Health and Human Services, sending the company's shares up about 20% after the bell.

Following is a summary of current health news briefs.

Roche CFO flags need to bolster late-stage drug development

Swiss drugmaker Roche needs to have better drug development projects in advanced stages to bolster its battered stock market value, its finance chief said on Thursday. "The point is really the setbacks we had last year in the late-stage pipeline... We have to now fill up the pipeline again and prove ourselves that we really have a strong late-stage pipeline," CFO Alan Hippe told a press conference.

Roche: have abandoned some trials due to U.S. drug pricing plans

Roche said it had abandoned certain drug development projects or acquisitions under consideration because of planned price cuts in best-selling prescription medicines in the United States. Speaking in a media call after the release of first-half results, CEO Thomas Schinecker said the Swiss group was not taking the lead on any legal action against the U.S. government project under the Inflation Reduction Act (IRA), because other large drugmakers were much more severely affected, but its work on new drugs was impacted still.

Wegovy weight-loss injection factory plagued by sterile-safety failures

The factory that fills the self-injection pens for booming weight-loss drug Wegovy has repeatedly breached U.S. sterile-safety rules in recent years and staff have failed to perform required quality checks, a Reuters review of regulatory documents shows. The breaches at Catalent, the Wegovy pen filler, were found by inspectors from the U.S. Food and Drug Administration who visited the plant in Brussels in October 2021 and August 2022 to check on its compliance with manufacturing regulations, according to detailed FDA reports on the inspections, obtained by Reuters under freedom of information laws.

Dexcom lifts revenue forecast on demand for glucose-monitoring devices

Medical device maker Dexcom Inc on Thursday raised its annual revenue forecast after strong demand for its continuous glucose monitoring (CGM) systems boosted second-quarter results, lifting its shares up about 3% in aftermarket trading. The company now expects revenue of $3.5 billion to $3.55 billion, compared with its previous range of $3.4 billion to $3.52 billion. Analysts estimate annual sales of $3.5 billion, according to Refinitiv data.

Lilly's obesity drug leads to about 26% weight loss in new studies

Eli Lilly said on Thursday its experimental obesity drug helped patients reduce 26.6% of weight, on average, across two late-stage studies after intensive lifestyle changes or with continued treatment, before they stopped taking the drug. Lilly is testing the drug, known as Mounjaro or tirzepatide, in the trials in patients who were obese or overweight but did not have type 2 diabetes.

Bird-flu bans on US poultry exports persist even as cases subside

U.S. poultry producers say they face prolonged economic pain from avian flu despite going months without infections in flocks, as China and some smaller importers fail to lift trade bans implemented during the nation's worst-ever outbreak of the virus. The lingering bans, imposed last year to prevent the spread of the disease, constrain the $6 billion U.S. export market for poultry meat as producers also grapple with limited labor, lower chicken prices and uncertain costs for feed.

Walgreens Boots Alliance CFO James Kehoe to step down

Walgreens Boots Alliance said on Thursday Chief Financial Officer James Kehoe will step down in mid-August to pursue an opportunity in the technology sector. The company named Manmohan Mahajan, who joined in 2016 and was previously global controller at the pharmacy chain, as interim global finance head while it conducts a search to fill the role.

Bristol Myers sales fall, cuts 2023 forecast as drugs face competition

Bristol Myers Squibb on Thursday said its second-quarter sales fell more than expected and cut its full-year forecasts as two of its top drugs, the blood cancer treatment Revlimid and blood thinner Eliquis, face generic competition. The company said sales of Revlimid and another blood cancer drug Pomalyst were also hurt by an increase in patients receiving them at no cost through its patient assistance foundation. It now expects 2023 revenue to fall by low-single-digit percentages, compared with its previous forecast of a 2% increase in revenue for the year.

U.S. orders antiviral drugs worth $138 million from SIGA Tech

SIGA Technologies Inc on Thursday said it has won a new contract for its antiviral drug, Tpoxx, from the U.S. Department of Health and Human Services, sending the company's shares up about 20% after the bell. The order is for delivery of about $113 million worth of oral Tpoxx treatment courses and about $25 million worth of the intravenous formulation of the treatment, SIGA said.

HCA's raised forecast fails to impress amid spike in surgeries

HCA Healthcare Inc on Thursday nudged its annual profit forecast higher after beating quarterly earnings estimates but its shares fell nearly 3% as investors were expecting a stronger outlook to reflect a rebound in non-urgent medical procedures. Hospital operators such as HCA are expected to see a profit boost as more people opt for surgical procedures such as hip and knee replacements that were put off due to the pandemic.