Health Industry Headlines: Profits, Acquisitions, and Policy Updates
Highlights from the health sector include Johnson & Johnson's profit surge, FDA's warning on GSK's drug, KKR's potential GPI acquisition, Sarepta's job cuts, and IPO insights on Anthem Biosciences. Meanwhile, US policy on AIDS funding remains intact, Coca-Cola alters its sugar choice, and Sino Biopharmaceutical advances its oncology stake.
In a robust performance, Johnson & Johnson surpassed Wall Street's profit expectations, propelled by strong sales of its cancer drug, Darzalex, and advancements in its medical technology sector.
Meanwhile, the FDA has raised alarms over safety concerns with GSK's new blood cancer drug, citing potential eye damage when combined with other treatments, sparking a review of its benefit-risk profile.
Amid market volatility, KKR eyes a buyout of Italian firm GPI, signaling heightened interest in healthcare technology acquisitions. In related news, Sarepta will reduce jobs and strengthen warnings on its gene therapy after patient deaths raised safety flags, while Indian pharma company Anthem Biosciences attracts strong IPO interest as international firms look to India as a strategic supplier.
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