Major Moves in the Pharmaceutical World: Insolvency, Vaccines, and Mergers

In a surprising development in the healthcare domain, French prosthesis maker Carmat has filed for insolvency after unsuccessful attempts to secure emergency funding. Trading of Carmat shares has been halted, per the company's request awaiting the Versailles Economic Affairs Court's decision.

Meanwhile, in the biotechnology arena, Moderna announced promising results from a late-stage study of its experimental influenza vaccine. The new vaccine showcased 26.6% greater effectiveness compared to the currently approved flu shot, particularly in adults aged 50 and above, spiking almost 5% in premarket trading.

In India, Torrent Pharmaceuticals revealed plans to strengthen its position by acquiring a significant 46.39% stake in JB Chemicals. The deal, involving KKR, reflects a total equity valuation of 256.89 billion rupees ($3.01 billion) for JB Pharma, potentially reshaping the Indian pharmaceutical landscape.

(With inputs from agencies.)