Top Developments in the Health Sector: FDA Approvals, Pharma Mergers, and Q2 Financial Reports

A summary of the latest health news, including FDA approvals for Citius' blood cancer therapy and Novartis' kidney disease drug, Merck's termination of a lung cancer drug trial, Recursion's acquisition of Exscientia, Viatris' Q2 financial results, updates from Novavax and Eli Lilly, UK's NHS's rollout of Vertex/CRISPR gene therapy, Novo Nordisk's sales miss, and J B Chemicals' Q1 profit increase.

The U.S. FDA has given the green light to Citius Pharmaceuticals' blood cancer therapy, Lymphir, after initially declining approval last year. Meanwhile, Merck has halted its lung cancer drug trial due to ineffectiveness.

Recursion Pharmaceuticals has announced its acquisition of Exscientia for $688 million, furthering its AI-driven drug discovery efforts. In financial news, Viatris surpassed Q2 profit and revenue estimates, while Novavax cut its 2024 revenue forecast amid lower COVID vaccine sales.

Eli Lilly raised its annual sales forecast by $3 billion thanks to strong demand for its weight-loss drug Zepbound. Additionally, the UK's NHS will roll out Vertex/CRISPR's gene therapy for beta thalassemia, and Novo Nordisk experienced a rare sales miss with its obesity drug Wegovy. India's J B Chemicals reported a significant Q1 profit increase, driven by domestic business growth.

(With inputs from agencies.)