EU Court Criticizes COVID Vaccine Contracts, Mark Cuban Imports Penicillin, and More Health Highlights

The European Commission faced criticism from the EU court over its lack of transparency in handling COVID-19 vaccine contracts. Mark Cuban's Cost Plus Drug Company plans to import penicillin to address the U.S. shortage. Other updates include investments by Sanofi in India, successful trials by Roche, Johnson & Johnson's strong drug sales, Nvidia and Pfizer funding an Israeli AI medical firm, among others.

The European Commission has come under fire from Europe's second-highest court for its opaque handling of COVID-19 vaccine contracts, just before a crucial vote on Commission head Ursula von der Leyen's re-election bid. Lawmakers scrutinized the Commission for not disclosing vital communications related to the contracts.

Mark Cuban's Cost Plus Drug Company is set to collaborate with the U.S. FDA to import penicillin to the United States, aiming to mitigate the ongoing shortage. The pharmacy will distribute over a million units of the drug to tackle the scarcity.

Sanofi announced a 400 million euros investment in its global capacity centre in India, intending to double its workforce. The company plans an initial investment of 100 million euros by next year. Additionally, Roche disclosed positive early-trial results for an obesity drug, and Johnson & Johnson reported robust sales driven by their flagship drugs.

Meanwhile, Nvidia and Pfizer led an $80 million funding round for Israeli AI medical firm CytoReason. Health advocates are challenging Philip Morris' representation of regulatory decisions as the company aims to introduce its heated tobacco device in the U.S. Moreover, Bayer's Nubeqa showed promise in prostate cancer trials, and Novo Nordisk expressed disappointment over the Dutch decision against insuring its weight-loss drug Wegovy. Health insurer Elevance Health projected high medical costs for the remainder of the year.

(With inputs from agencies.)