Pharma Shake-Up: Major Job Cuts Amid Health Sector Turmoil
Recent health sector updates include Intercept Pharma's voluntary removal of a liver disease drug, significant job cuts at Novo Nordisk, Argentina's President vetoing healthcare funding, and FDA approvals boosting new treatments. Additionally, a major seizure of unauthorized e-cigarettes has been reported, alongside advancements in women's health research led by Melinda French Gates.
In recent health news, Intercept Pharmaceuticals has pulled its liver disease treatment, Ocaliva, from the U.S. market following safety concerns raised by the FDA regarding severe liver injuries related to the drug.
Novo Nordisk announced a significant restructuring move by cutting 9,000 jobs as it faces steep competition in the weight-loss and diabetes drug market, aiming to secure its financial footing.
Meanwhile, in Argentina, President Javier Milei has vetoed laws aimed at increasing funding for pediatric hospitals and public universities, reflecting efforts to manage national financial stability.
(With inputs from agencies.)
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