Health Sector Updates: Major Gains, Legal Battles, and Safety Concerns

Recent health news highlights include Novartis and Abbott lifting profit forecasts, Ardent Health's stock debut dip, a lawsuit by Ardelyx against U.S. health departments, Boehringer-GoodRx's discounted Humira rival, China's import suspension of Daewoong Bio's antibiotic, Johnson & Johnson's strong drug sales, Abbott's marketing push for glucose monitors, a boy's struggle with a rare sunlight-sensitive disease, and concerns over bird flu culling methods.

Swiss drugmaker Novartis has increased its 2024 earnings projection, bolstered by prescriptions for Entresto and Cosentyx. Abbott Laboratories also raised its annual profit forecast, driven by medical device sales. Ardent Health's shares fell on their NYSE debut, reflecting market caution.

Drugmaker Ardelyx is suing the U.S. Department of Health and Human Services over a Medicare policy affecting its kidney disease medication. Meanwhile, Boehringer Ingelheim and GoodRx are partnering to offer a cut-price alternative to Humira, and China has suspended imports of Daewoong Bio's antibiotic citing law violations. Johnson & Johnson reported strong drug sales, overcoming competition concerns for its psoriasis medication Stelara.

Abbott plans a marketing campaign for its glucose monitoring device aimed at non-diabetics. An 11-year-old boy in Spain with Xeroderma Pigmentosum must avoid sunlight to survive, and experts express concern over bird flu disposal methods potentially posing human and livestock risks.

(With inputs from agencies.)