Health Sector Updates: Major Deals, Legal Battles, and Policy Changes

The latest health news highlights include Kailera Therapeutics' $400 million funding, potential CVS Health restructuring, Bristol Myers' legal victory, new Medicare Advantage plans, Pfizer's stake reduction in Haleon, Sigma Healthcare's high share price, US-China health cooperation, WHO's RSV prevention recommendations, the blocking of a Georgia abortion law, and a trial involving Abbott and Reckitt's baby formula.

Following a surge in the weight-loss drug market, Kailera Therapeutics launched with a $400 million funding, led by CEO Ron Renaud. The startup aims to make significant strides in anti-obesity therapies.

According to sources, CVS Health is considering a company split to separate its retail and insurance units as it faces investor pressure. Financial advisers have been engaged to explore the feasibility of such a move.

Bristol Myers Squibb successfully dismissed a $6.4 billion lawsuit accusing it of delaying the federal approval of cancer drugs developed by Celgene. The lawsuit, filed by UMB Bank, was not supported by the majority of registered owners.

Health insurers like Cigna, CVS Health, Humana, and Centene have unveiled their Medicare Advantage plans for 2025, ahead of the enrollment period starting October 15.

Pfizer sold shares worth approximately $3.26 billion in Haleon, reducing its stake to 15% in the prominent consumer healthcare firm.

Sigma Healthcare's stock hit an 18-year high following concessions to facilitate its merger with Chemist Warehouse, allowing early 2024 franchisees to opt out penalty-free.

In rare talks, Chinese and U.S. health officials agreed on enhanced cooperation in global health affairs, including joint efforts in cancer prevention and treatment, as reported by China's Xinhua News Agency.

The WHO recommended maternal vaccination and antibody therapy to counter respiratory syncytial virus (RSV) in infants following its strategic advisory group's recent meeting.

A Georgia judge blocked a law banning abortions after six weeks, ruling it violated state constitutional rights to privacy and liberty. This allows abortion services to resume while the state considers an appeal.

A Missouri mother is set to argue in court that Abbott and Reckitt's baby formulas caused severe illness in her premature son. This trial is part of broader litigation with significant previous verdicts against the companies.

(With inputs from agencies.)