Reuters Health News Summary

Zimmer's results extend a strong quarter for medical device makers, including peer Stryker Corp which raised its annual profit outlook betting on steady demand for its hip and knee implants. Novo Nordisk: Wegovy, Ozempic prices in US fell in Q1 Novo Nordisk has seen the price of its hugely popular weight-loss drug Wegovy and diabetes drug Ozempic fall in the United States as volumes and competition have increased, a senior executive said on Thursday.

Following is a summary of current health news briefs.

British pharmacies vie for weight-loss patients with drug price cuts

Online pharmacies and slimming clinics are cutting prices for Wegovy and Mounjaro in Britain just months after the weight-loss drugs were launched there, as initial supply shortages ease. But growing competition between retailers has raised fears that some patients who buy the drugs themselves, rather than relying on the National Health Service (NHS), will miss out on long-term aftercare if they keep switching providers.

Novartis to buy radiology drug specialist Mariana for $1 billion

Novartis agreed to acquire U.S. radiopharmaceutical company Mariana Oncology for $1 billion upfront, boosting its portfolio of precision cancer treatments in development, the Swiss drug manufacturer said on Thursday. The deal includes up to $750 million of further payments upon achieving certain milestones, it added.

Zimmer Biomet beats Q1 profit estimates on robust demand for knee, hip devices

Medtech firm Zimmer Biomet Holdings beat Wall Street estimates for first-quarter profit on Thursday, on the back of robust demand for its devices that are used in knee and hip reconstruction procedures. Zimmer's results extend a strong quarter for medical device makers, including peer Stryker Corp which raised its annual profit outlook betting on steady demand for its hip and knee implants.

Novo Nordisk: Wegovy, Ozempic prices in US fell in Q1

Novo Nordisk has seen the price of its hugely popular weight-loss drug Wegovy and diabetes drug Ozempic fall in the United States as volumes and competition have increased, a senior executive said on Thursday. Wegovy prices in the United States were "slightly down" in the first quarter and Novo expects further decreases through the rest of 2024, Chief Financial Officer Karsten Munk Knudsen said on a call with media.

Blockbuster obesity drug demand drives Novo Nordisk profit boost

Novo Nordisk raised its 2024 outlook on Thursday and delivered better-than-expected first-quarter profits as the Danish drugmaker races to boost output of its Wegovy weight-loss drug and fend off competition from rival Eli Lilly. The group's shares were down by 2.9% at 1004 GMT, as analysts noted the performance was boosted by one-off factors. Jyske Bank said the beat and upgrade were driven by a one-off U.S. sales adjustment, while underlying growth was a bit weaker than expected.

Cardinal Health lifts 2024 profit view on demand for costly specialty drugs

Cardinal Health raised its annual profit forecast on Thursday, betting on strength in its pharmaceutical unit selling costly specialty drugs used to treat complex conditions such as cancer. Drug distributors, including rival Cencora, have been benefiting from growing sales of specialty medicines at a time when prices of generic, or copycat, versions have been falling due to intense competition.

Regeneron's blockbuster eye drug posts weaker sales due to inventory impact

U.S. drugmaker Regeneron Pharmaceuticals Inc missed Wall Street estimates for quarterly profit on Thursday, hurt by softer sales of its blockbuster eye drug Eylea due to reduction in wholesaler inventory. Apart from an impact of about $40 million cut in inventory, Regeneron said changing market dynamics that resulted in lower volumes and lower selling price also hurt Eylea sales.

Arizona Senate repeals 1864 abortion ban, governor seen signing quickly

The Arizona Senate voted on Wednesday to repeal the state's 1864 ban on abortion, which could otherwise have taken effect within weeks. The repeal was passed by the Senate in a 16-14 vote and is expected to be quickly signed by Governor Katie Hobbs, a Democrat. Two Republican senators crossed party lines to vote in favor of repealing the ban.

Moderna quarterly sales beat expectations but plummet from previous year

Moderna on Thursday reported quarterly revenue that beat Wall Street estimates but came in dramatically lower than the previous year when demand for COVID-19 vaccines was higher. Sales of Moderna's COVID-19 shot Spikevax, its only marketed product, dropped 91% from the previous year to $167 million for the quarter but surpassed analysts' expectations of $97.5 million.

Baxter raises annual profit forecast on strong demand for medical devices

Medical device maker Baxter International raised its annual profit forecast and beat quarterly estimates on Thursday, banking on strong demand for its infusion pumps and dialysis products. Investor expectations around the performance of medical device makers have been heightened since last November due to higher demand for procedures, especially among older adults, that were delayed during the COVID-19 pandemic.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)