COVID-19

An African Union effort to strengthen public health and improve vaccine access in Africa has received a $45 million financing package. The U.S. International Development Finance Corporation, the African Development Bank and the International Finance Corporation (IFC) jointly announced the package for VaxSen, a subsidiary of Senegal’s Institut Pasteur de Dakar (IPD). This agreement underscores…

Sen-Jam Pharmaceutical this week announced it is partnering with specialty pharmaceutical manufacturer KVK-Tech for formulation and chemistry, manufacturing and controls for anti-inflammatory injectables. The partnership is the third development, manufacturing, distribution and license agreement the pair have signed. The new partnership will further advance Sen-Jam’s first injectable anti-inflammatory therapeutic, SJP-100. Sen-Jam is developing an immunomodulator…

Moderna (NASDAQ:MRNA) is progressing on efforts to resume revenue growth in 2025 — even as COVID-19 vaccine sales decline now that the virus is endemic versus a pandemic. During a presentation at the JP Morgan Healthcare Conference this week, Moderna CFO Jamey Mock noted that the company took a charge of $1.6 billion during the…

In a strategic initiative to streamline operations, Pfizer said it would close facilities in Durham and Morrisville, North Carolina. The company aims to cut at least $3.5 billion in costs.  The company now employs more than 80,000 people worldwide, with roughly 4,000 based in North Carolina. The closures will not affect Pfizer’s two largest facilities…

Pfizer will price Paxlovid at $1,390 per treatment course when selling directly to health insurers beginning in 2024. That’s about 2.6 times higher than the $529 the federal government paid for the antiviral after it launched in late 2021. Pfizer plans to subsidize copays for commercially insured patients at least through 2028. Pfizer has reduced…

Both Johnson & Johnson and Pfizer are gearing up to release third-quarter results. While J&J continues to display resilience with its diverse portfolio, Pfizer continues to face challenges with waning demand for its COVID-19 therapies. To date, Pfizer’s stock is down by roughly a third so far this year, reflecting concerns over its ability to…

In recent years, Pfizer has emerged as the largest Big Pharma firm. In 2022, its revenue surpassed $100 billion for the first time. But even though the pandemic has cemented the company as a leading pharmaceutical powerhouse — with a healthy M&A appetite — it does not count among the upper echelon of public companies…

The U.S. Department of Health and Human Services (HHS) has awarded $1.4 billion to support vaccine clinical trials to test new, more effective and longer-lasting COVID-19 vaccines. In all, Project NextGen is a $5 billion initiative from Biomedical Advanced Research and Development Authority (BARDA) and the National Institute of Allergy and Infectious Diseases (NIAID). The…

The U.S. Department of Health and Human Services (HHS) recently announced two major initiatives to shed light on long COVID, a condition affecting millions. First, the agency plans to establish the Office of Long COVID Research and Practice. HHS is also set to launch new long COVID-19 clinical trials through its RECOVER initiative. Jointly, the…

Moderna (NASDAQ:MRNA) today reported fourth-quarter results that beat the Wall Street consensus on revenue but missed on earnings. Demand for the company’s COVID-19 vaccines is down, and there is surplus production capacity. Investors reacted by sending MRNA shares down more than 1% to $156.51 apiece in morning trading. Q4 2022 Q4 2021 Change Revenue $5.1…