Global Health Updates: Profit Raises, Safety Concerns, and Market Moves
This summary highlights significant events in the health sector, including Johnson & Johnson's profit boost from Darzalex, safety concerns for GSK's cancer drug, refugee malnutrition in Gaza, KKR's potential acquisition of an Italian firm, layoffs at Sarepta, IPO news from Moroccan and Indian companies, U.S. Senate funding decisions, and major acquisitions.
Johnson & Johnson reported a significant boost in second-quarter profits, thanks to strong sales of its cancer drug Darzalex and robust performance in its medical device sector. The company surpassed Wall Street expectations, adjusting profits to $2.77 per share, above the anticipated $2.68.
In regulatory news, the FDA has flagged safety concerns for GSK's blood cancer drug Blenrep, warning of potential eye damage risks when used with other treatments. The agency's reviewers find the drug's benefit-risk profile unclear.
Meanwhile, KKR is exploring a buyout of Italian healthcare technology firm GPI amid market fluctuations, while Sarepta Therapeutics announced a significant workforce reduction after setbacks in its gene therapy programs. Additionally, several notable IPOs are making waves globally, with Moroccan company Vicenne's offering oversubscribed 64 times and Indian drugmaker Anthem Biosciences seeing strong investor interest.
(With inputs from agencies.)
- READ MORE ON:
- Johnson & Johnson
- GSK
- Blenrep
- malnutrition
- KKR
- GPI
- Sarepta
- IPO
- healthcare
- cancer
Google News