Pharmaceutical Giants Tackle Health Challenges with Strategic Moves

Recent news in health features India's Sun Pharma surpassing profit expectations due to increased demand for specialty drugs. Pfizer faces pressure to demonstrate its turnaround strategy as Starboard influences management. Eli Lilly plans to launch a weight-loss drug in Hong Kong. AbbVie acquires Aliada for Alzheimer's therapy. McDonald's identifies sources of an E. coli outbreak, impacting sales.

India's Sun Pharmaceuticals surprised the market by reporting a second-quarter profit rise driven by demand for specialty drugs targeting rare medical conditions. Despite expectations, the Mumbai firm's profits jumped by 28% to 30.40 billion rupees.

As U.S. drugmaker Pfizer prepares to reveal quarterly earnings, attention turns to CEO's turnaround efforts amidst pressure from activist hedge fund Starboard Value. The company aims to showcase revenue growth, particularly from strategic cancer drug acquisitions between 2021 and 2023.

Eli Lilly seeks new opportunities, setting its sights on Hong Kong's market to introduce its new weight-loss drug, Mounjaro. Approval from Hong Kong authorities allows the distribution of the drug for weight-loss and diabetes management.

(With inputs from agencies.)