Global News

[ad_1] In this photo illustration, an insulin pen manufactured by the Novo Nordisk company is displayed on March 14, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images The top executives of the three drug companies that control 90% of the global insulin market will testify May 10 before the Senate Health Committee on lowering prices of their diabetes drugs, panel Chairman Sen. Bernie Sanders said Friday. Those companies — Eli Lilly , Novo Nordisk and Sanofi — had announced in March that they will slash prices of their most widely used insulin products by 70% or more. related investing news Sanders on Friday called that move an important step forward that was the result of "public outrage and strong grassroots efforts." But the Vermont independent added that Congress must ensure that insulin, whose price has increased by more than 1,000% since 1996, is affordable for everyone. "We must make certain, however, that those price reductions go in...

[ad_1] Boxes of mifepristone, the first pill given in a medical abortion, are prepared for patients at Women's Reproductive Clinic of New Mexico in Santa Teresa, U.S., January 13, 2023.  Evelyn Hockstein | Reuters A coalition of a dozen Democratic attorneys general sued the Food and Drug Administration on Friday to force the agency to drop all remaining restrictions on the abortion pill, the latest case in an escalating series of legal battles over access to the medication. The attorneys general asked a federal court in the eastern district of Washington to declare that the abortion pill, mifepristone, is safe and effective and that all remaining restrictions on the medication are unconstitutional. The lawsuit was led by Washington state Attorney General Bob Ferguson and Oregon's AG Ellen Rosenblum. The attorneys general of Arizona, Colorado, Connecticut, Delaware, Illinois, Michigan, Nevada, New Mexico, Rhode Island and Vermont were also part of the suit. The attorneys g...

[ad_1] The snack aisle is seen during a tour of a new Amazon Go store in the Capitol Hill neighborhood of Seattle, Washington, U.S., on Monday, Feb. 24, 2020. Chona Kasinger | Bloomberg | Getty Images For more than a century, frosted cornflakes have been the backbone of Kellogg's business. That changes Monday, when the company will spin off its stable cereal business in favor of its faster-growing snack unit and rename itself Kellanova . The spinoff comes weeks after another wager that consumers will graze between meals, when J.M. Smucker bought Twinkie maker Hostess Brands for $5.6 billion in a bid to expand its snack lineup. But food companies' major bets on snacking come as investors fear the looming danger of Big Pharma's blockbuster obesity and diabetes drugs Wegovy and Ozempic. Many investors have high hopes for the pharmaceuticals' future, but their success could mean slower sales for the companies that produce Oreos, Doritos and Hershey's Kisses. Bi...

[ad_1] A pharmacist displays boxes of Ozempic, a semaglutide injection drug used for treating type 2 diabetes made by Novo Nordisk, at Rock Canyon Pharmacy in Provo, Utah, U.S. March 29, 2023.  George Frey | Reuters Drugmakers aren't the only ones feeling the impact of the weight loss industry gold rush.  Retailers with pharmacy businesses, such as Walmart , Kroger and Rite Aid , said increased demand for prescription weight loss drugs helped boost sales for the second quarter.  But analysts note that those blockbuster treatments are minimally profitable for retail pharmacies – and may even come with margin headwinds. "More recently, you're starting to hear retailers talk about these drugs. But I wouldn't say they're necessarily beneficiaries of the increased popularity," Arun Sundaram, an analyst at CFRA Research, told CNBC. "They're really not making much of a profit on the drugs. So it's really just a traffic driver and not really a p...

[ad_1] Pharmacist Ani Martirosyan administers an immunization to a patient at a CVS on Tuesday, Sept. 12, 2023 in Glendale, CA. Brian Van Der Brug | Los Angeles Times | Getty Images The rollout of a new round of Covid vaccines in the U.S. is off to a bumpy start as some patients report delays in health insurance coverage for the shots.  Private insurance plans and government payers such as Medicare are required to cover the new jabs from Pfizer and Moderna , which became available late last week. U.S. regulators have recommended all Americans ages 6 months and up get the new round of vaccines.  The Centers for Medicare & Medicaid Services, some private health-care providers and CVS confirmed the temporary delays in coverage and emphasized that Americans can access Covid vaccines at no cost through insurance plans. They said the reason for the delays is that some insurers are still working to update their plans to include the new vaccines. Dozens of posts on social medi...

[ad_1] A nurse prepares doses of the Pfizer vaccine during a COVID-19 vaccination event at Josephine's Southern Cooking in Chatham, Illinois, Dec. 30, 2021. Brian Cassella | Tribune News Service | Getty Images A new round of Covid vaccines is finally here in the U.S. The Centers for Disease Control and Prevention cleared single-strain shots from Pfizer and Moderna for all Americans six months and up on Tuesday, following approvals from the Food and Drug Administration on Monday. Those mRNA vaccines are designed to target a relatively new omicron subvariant called XBB.1.5 .  The first doses of the new shots will be available at some pharmacies and other vaccine distribution locations within 48 hours of the CDC's recommendation, agency staff said Tuesday during a meeting of independent advisors to the CDC. That means jabs could reach Americans as soon as Thursday. Meanwhile, the FDA is still reviewing a third updated vaccine from Novavax for people ages 12 and up.  Th...