J&J Makes $16.6 Billion Bet on Heart Pumps to Boost Medical Device Sales

J&J Makes $16.6 Billion Bet on Heart Pumps to Boost Medical Device Sales

However, the health products company will face challenges in meeting ambitious growth targets for the new business, and ongoing clinical trials are not certain to produce results that will lead to the wider use of Abiomed’s devices that J&J expects, analysts say. J&J’s medical device business, which sells artificial knees and contact lenses, has seen … Read more

CVS Pays $5 Billion to Settle Opioid Lawsuits

CVS Pays $5 Billion to Settle Opioid Lawsuits

CVS health corp. CVS -0.08% has agreed to pay about $5 billion in a landmark settlement that the company says will resolve all remaining opioid crisis lawsuits filed by states, cities and other governments. The largest U.S. drugstore company is the first pharmacy chain to reach a settlement in the collection of lawsuits filed by … Read more

J&J Agrees to Buy Heart-Device Maker Abiomed for $16.6 Billion

J&J Agrees to Buy Heart-Device Maker Abiomed for $16.6 Billion

Johnson & Johnson JNJ -0.59% agreed to buy the heart device manufacturer Abiomed Inc. in a $16.6 billion deal that the health products giant hopes will accelerate its overhaul to a leaner, faster-growing business. Under the terms, J&J agreed to pay $380 per share upfront and would pay an additional $35 per share if certain … Read more

RSV vaccine protected infants from severe cases, Pfizer study shows

RSV vaccine protected infants from severe cases, Pfizer study shows

An experimental vaccine from Pfizer Inc. significantly reduced the risk of infants developing severe cases of a respiratory virus that kills hundreds of children each year, according to the company. Among mothers who received the respiratory syncytial virus vaccine, their infants had an 81.8% lower risk of developing serious lower respiratory infections that required medical … Read more

Biotech co-founder faces murder-for-hire charges accused of fabricating data

Biotech co-founder faces murder-for-hire charges accused of fabricating data

Enochian BioSciences Inc. has sued co-founder Serhat Gumrukcu for contractual fraud, alleging it paid him and his husband $25 million based on scientific data that Mr. Gumrukcu altered and fabricated. A lawyer for Mr. Gumrukcu did not immediately respond to a request for comment on the Enochian trial. Enochian is seeking repayment of all payments … Read more

Pfizer aims for Covid vaccine price of at least $110 per dosage

Pfizer aims for Covid vaccine price of at least $110 per  dosage

Pfizer Inc. gave some details about its plans to sell the Covid-19 vaccine it developed with BioNTech SE on the commercial market in the United States, saying it expects to price the shot at $110 to $130 per dose for adults. The drugmaker is still negotiating with health insurers but expects the discussions to lead … Read more

Drugmakers want to limit Medicare’s new power to negotiate lower drug prices

Drugmakers want to limit Medicare’s new power to negotiate lower drug prices

Drugmakers are trying to blunt Medicare’s newfound power to negotiate drug prices as they deal with internal industry disputes ebbing in Washington, D.C. Under the Inflation Reduction Act, Congress authorized Medicare, the nation’s largest purchaser of prescription drugs, to negotiate how much it pays for certain high-cost therapies and to get discounts on treatments whose … Read more

FDA approves Novavax Covid-19 Shot as booster for adults

FDA approves Novavax Covid-19 Shot as booster for adults

The Food and Drug Administration gave Novavax emergency approval Inc.’s Covid-19 shot as a booster for adults. The shot targets the original strain of the virus, whereas the updated booster shots from Moderna Inc. and Pfizer Inc. and its partner BioNTech SE, approved in August by the FDA, targeting both the original strain and newer … Read more

FDA advisors recommend pulling drugs to prevent premature births from the market

FDA advisors recommend pulling drugs to prevent premature births from the market

Health experts advising the Food and Drug Administration recommended the agency pull a drug used to prevent premature births from the market. The advisers voted 14-1 for the FDA to remove Covis Pharma Group’s Makena from the market after the drug failed a trial to confirm its benefit. The FDA does not have to follow … Read more

Abbott Appoints New Leadership at Troubled Baby-Formula Plant

Abbott Appoints New Leadership at Troubled Baby-Formula Plant

Abbott Laboratories has made leadership changes at its large baby formula manufacturing plant and in its quality organization following a temporary shutdown of the Sturgis, Mich., plant earlier this year after contamination was found. The Abbott Park, Ill., company also plans to spend about $500 million to build a new baby formula plant in the … Read more