Healthcare Highlights: Profit Surges, Marijuana Legislation, and Key Industry Moves

This summary covers recent significant developments in the healthcare sector. Key highlights include HCA Healthcare's raised profit forecast, Thailand's move towards medical marijuana legislation, Robert Langer's departure from Moderna's board, and Merck's successful RSV therapy trial. Additionally, there are updates on neural implant valuation at Neuralink, Quest Diagnostics' raised revenue forecast, and acquisitive moves by major pharmaceutical firms in China.

Following is a summary of current health news briefs.

Hospital operator HCA lifts annual profit forecast on strong demand. HCA Healthcare raised its annual profit forecast on Tuesday after surpassing Wall Street estimates for second-quarter earnings. Shares surged over 7% pre-market as demand for medical care remains robust, especially among older adults catching up on deferred procedures due to the pandemic.

Thailand to legislate medical marijuana, signals no re-criminalising. Thailand's government is working towards legislating marijuana for medical use, abandoning plans to re-criminalize the plant. In 2022, Thailand became one of the first Asian countries to decriminalize marijuana without clear regulations, leading to calls for stricter governance to prevent recreational use.

Moderna co-founder Robert Langer to step down from vaccine maker's board. Robert Langer, instrumental behind Moderna's scientific success, will step down from the company's board on August 5th.

Danaher beats Q2 profit estimates on strength in medical testing business. Driven by strong demand for genetic testing services, Danaher's shares climbed nearly 8% in premarket trading. However, the company anticipates a low-single-digit decline in core business revenue due to reduced biotechnology and life sciences unit demand.

Neuralink's value jump leaves some Musk employees itching to cash out. Employees at Elon Musk's Neuralink are preparing to sell shares amidst a surge in valuation following its first human trial, using private market exchanges.

Merck's RSV therapy meets main goal of study in infants. Merck's drug reduced lower respiratory infections in infants during a mid-to-late stage trial, achieving safety and efficacy benchmarks.

WHO sees 'high risk' of polio virus spreading across Gaza, assessment underway. The World Health Organization raised concerns over the potential spread of polio due to inadequate health and sanitation conditions in Gaza.

Quest Diagnostics raises 2024 profit, revenue forecasts on health tests demand. Increased demand for diagnostic tests prompted Quest Diagnostics to raise its 2024 profit and revenue forecasts.

Analysis-Drug giants eye China for deals despite growing Sino-US tensions. Major pharmaceutical companies, undeterred by Sino-U.S. tensions, are seeking deals in China to bolster their drug pipelines, with AstraZeneca and Novartis making significant acquisitions.

Wegovy-maker Novo Nordisk buys land in Denmark for potential new production plant. Following the success of weight-loss drug Wegovy, Novo Nordisk purchased land for a new production facility to meet growing demand.

(With inputs from agencies.)