The Oklahoma State Supreme Court has overturned a 2019 opioid judgment against Johnson & Johnson (NYSE:JNJ) amounting to $465 million. Five of the six Oklahoma Supreme Court’s justices dismissed the state’s case claiming that Johnson & Johnson breached its “public nuisance” laws in its marketing of prescription opioid drugs. “Oklahoma public nuisance law does not…
Moderna takes big hit on missed Q3 projections
Moderna (NSDQ:MRNA) shares took a big hit today on third-quarter results that came up short of the consensus forecast. MRNA shares were down 17.1% at $286.80 per share in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.2%. The Cambridge, Massachusetts-based company…
Catalent beats The Street in Q1, raises revenue guidance
Catalent (NYSE:CTLT) shares dipped today despite first-quarter financial results that beat the consensus forecast. The Somerset, New Jersey-based company posted profits of $93 million, or 49¢ per share, on sales of $1.025 billion for the three months ended Sept. 30, 2021, for a 13.4% bottom-line gain on sales growth of 21.2%. Adjusted to exclude one-time…
AbbVie beats the Street in Q3, raises guidance
AbbVie (NYSE:ABBV) shares ticked up before hours today on third-quarter results that beat the consensus forecast. The North Chicago, Illinois-based company posted profits of $3.2 billion, or $1.78 per share, on sales of $14.34 billion for the three months ended Sept. 30, 2021, for a 37.5% bottom-line gain on sales growth of 11.2%. Adjusted to…
Merck rises on Street-beating Q3
Merck (NYSE:MRK) shares ticked up today on third-quarter results that beat the consensus forecast. The company also announced that it projects its oral COVID-19 antiviral molnupiravir to bring in between $5 billion and $7 billion in revenue next year. MRK shares were up 4.9% at $85.55 per share in early-morning trading today. MassDevice’s MedTech 100…
Lilly beats Street in Q3, raises guidance on COVID-19 antibody revenues
Eli Lilly (NYSE:LLY) shares slightly dipped today on third-quarter results that topped the consensus forecast. The Indianapolis-based company posted profits of $1.1 billion, or $1.22 per share, on sales of $6.8 billion for the three months ended Sept. 30, 2021, for a -8.1% bottom-line slide on sales growth of 18%. Adjusted to exclude one-time items,…
PerkinElmer launches cloud-based research suite for pharmaceutical customers
PerkinElmer (NYSE:PKI) announced today that it launched the Signals Research suite for pharmaceutical and industrial customers. Waltham, Massachusetts–based PerkinElmer’s full cloud-based Signals Research suite, deployed on Amazon Web Services (AWS) offers a secure informatics platform with integrated, end-to-end scientific data and workflow management for pharmaceutical and industrial customers. PerkinElmer designed the platform to help drive…
MannKind enrolls first patient in Afrezza study focusing on children
Rapid-acting insulin specialist MannKind Corp. (NSDQ:MNKD) has enrolled the first pediatric patient in its INHALE-1 study evaluating its Afrezza (Technosphere Insulin) with basal insulin versus multiple daily injections of insulin. The study will enroll participants aged four to 17 with type 1 or type 2 diabetes. Afrezza first won FDA approval in 2014, and MannKind…
Honeywell acquires MES firm Performix
Honeywell (NASDAQ:HON) will integrate manufacturing execution system (MES) software offerings from Performix Inc. into its portfolio of offerings for life science companies. Financial details of the transaction were not disclosed. Houston, Texas–based Performix specializes in creating MES software for pharma and biotech companies. The company also has an office in Pune, India. Late last year, Honeywell…
Lilly cuts price of Lispro insulin by 40%
Starting January 1, 2021, Eli Lilly and Company (NYSE:LLY) will reduce the list price of Insulin Lispro Injection in the U.S. to match 2008 levels. The 40% price cut will also extend to the company’s non-branded insulins. Still, the company acknowledged that people with fixed insurance co-pays or beneficiaries of Lilly’s affordability programs might not…