Weight loss drug sales surge, COVID vax sales sink, 'junk' patents

Start Slideshow

Image for article titled Wegovy sales surge, COVID vax sales sink, and 'junk' patents: Pharma news roundup — Graphic: Images: Hollie Adams, Bloomberg/Contributor, Hollie Adams, George Frey

Novo Nordisk responded this week to the Federal Trade Commission’s (FTC) suggestion that it filed ‘junk’ patents to prevent competition and raise prices. Moderna stock surged on Thursday after its first-quarter earnings report blew past Wall Street’s expectations. And Johnson & Johnson announced its plans to pay nearly $6.5 billion over 25 years to settle all pending and future U.S. lawsuits alleging that its baby powder and other talc-based products caused ovarian cancer.

Check out those stories and more pharma news highlights.

Previous Slide

Next Slide

2 / 11

Ozempic maker Novo Nordisk denies flooding market with ‘junk’ patents after FTC challenge

A box of Ozempic made by Novo Nordisk is seen at a pharmacy — The U.S. Food and Drug Administration first approved Ozempic in 2017

Novo Nordisk responded today to the U.S. Federal Trade Commission’s (FTC) suggestion that it filed ‘junk’ patents to prevent competition and raise prices. The Ozempic maker denied wrongdoing, stating that the disputed patents — including for its popular diabetes drug — were all approved by the patent office and followed FDA protocols.

Previous Slide

Next Slide

3 / 11

Moderna stock surges 15% after it beat earnings expectations despite plummeting COVID vaccine sales

Moderna headquarters in Cambridge, Massachusetts.

Moderna stock soared on Thursday after its first-quarter earnings report sailed past Wall Street’s expectations. The company reported $167 million in sales of its COVID-19 vaccine, Spikevax, in the first three months of 2024.

Previous Slide

Next Slide

4 / 11

Wegovy sales more than doubled as the weight loss drug boom keeps powering Novo Nordisk

Boxes of Ozempic and Wegovy made by Novo Nordisk are seen at a pharmacy — Novo Nordisk’s total sales rose year over year in its first quarter, from to 53.4 billion Danish krone ($7.7 billion) to 65.3 billion Danish krone ($9.4 billion)

Novo Nordisk on Thursday raised both its full year sales and operational profit guidance for the year after reporting booming sales of its blockbuster diabetes and weight loss drugs Ozempic and Wegovy in the first quarter.

Previous Slide

Next Slide

5 / 11

Ozempic is so hot right now that subsidies for the drug are being cut in Novo Nordisk’s home country

Ozempic is displayed in a pharmacy — This week, Novo Nordisk cut the price of Ozempic in Denmark to $125, from $188.

The skyrocketing popularity of the diabetes drug Ozempic has put a heavy burden on public spending in Denmark, the home country of the drug’s producer Novo Nordisk. In response, the Danish Medicines Agency announced on Wednesday that it has decided to cut some subsidies for the drug, most known for its weight loss side effects.

Previous Slide

Next Slide

6 / 11

Johnson & Johnson wants to pay $6.5 billion to settle its talc ovarian cancer lawsuits

Bottles of Johnson & Johnson baby powder line a drugstore shelf in New York — Johnson & Johnson still maintains that talc does not cause cancer.

Johnson & Johnson announced Wednesday that it plans to pay nearly $6.5 billion over 25 years to settle all pending and future U.S. lawsuits alleging that its baby powder and other talc-based products caused ovarian cancer.

Previous Slide

Next Slide

7 / 11

Weight loss drugs are so hot that Eli Lilly is expecting $2 billion more in sales this year

An injection pen of Zepbound, Eli Lilly’s weight loss drug — Sales of the popular weight loss drug Zepbound reached $517 million in the first quarter of 2024.

Eli Lilly stock jumped 5% during Tuesday morning trading to about $773 a share after the pharma giant reported better-than-expected sales of its weight loss drug Zepbound in the first quarter of 2024.

Previous Slide

Next Slide

8 / 11

Some of the popular weight loss drug Wegovy is back on shelves after a shortage, the FDA says

Boxes of Wegovy made by Novo Nordisk are seen at a pharmacy — The 1.7 milligram dose of Wegovy is no longer in shortage.

A dose of Wegovy’s highly-coveted weight loss drug is no longer in limited supply, according to Food and Drug Administration (FDA) drug shortage database.

Previous Slide

Next Slide

9 / 11

These lifestyle gyms aren’t competing with Ozempic — they’re embracing it

Dumbbell, water bottle, towel on the bench in the gym. - stock photo — Image: Amnaj Khetsamtip (Getty Images)

You may think that a class of drugs that has been shown to help users lose 15% to 20% of their body weight may put the fitness industry on edge. But some gyms are actually embracing these slimming medications. And, surprisingly, a new analyst report from Morgan Stanley published this month suggests these gyms are making the right move.

Previous Slide

Next Slide

10 / 11

AbbVie’s newer drugs are offsetting losses of the world’s once best-selling medication

AbbVie’s total sales rose 1% year over year to $12.3 billion in its first quarter of 2024, from $12.2 billion.

Image: Dado Ruvic (Reuters)

AbbVie raised its full year profit guidance today, even as sales of its flagship medication have continued to fall. In its latest quarterly earning report, AbbVie raised its annual profit forecast to between $11.13 and $11.33 per share, from a previous estimate of $10.97 to $11.17.

Wegovy sales surge, COVID vax sales sink, and 'junk' patents: Pharma news roundup

Plus, Weight loss drugs are so hot that Eli Lilly is expecting $2 billion more in sales this year