Ozempic knockoffs, Pfizer's cost-cutting, and AstraZeneca’s future: Pharma news roundup
The millennial-targeted Hims & Hers this week joined other telehealth platforms in offering customers a cheaper, compounded version of semaglutide, the active ingredient in popular weight loss drugs like Ozempic and Wegovy. Pharma giant AstraZeneca aims to increase its revenue by a whopping 75% in 2030, up from the $45.8 billion it generated in 2023 — just as it pulls its COVID-19 vaccines off the shelves. Meanwhile, Pfizer announced Wednesday another cost-cutting initiative as the company struggles with diminishing demand for its COVID-19 vaccine.
Check out those stories and more pharmaceutical news highlights from this week.
Guardant Health’s blood test to detect deadly colon cancer is under review by the FDA
People who dread the thought of a colonoscopy may soon get a less invasive option to screen for colon and other rectal cancers. A U.S. Food and Drug Administration (FDA) advisory committee is met Thursday to review a new blood test by the biotech company Guardant Health that checks for colorectal cancers.
Pfizer plans to cut costs by $1.5 billion as demand for COVID vaccine dwindles
Pharma giant Pfizer announced Wednesday another cost-cutting initiative as the company struggles with diminishing demand for its COVID-19 vaccine. The cost-saving program is expected to include “operational efficiencies, network structure changes, and product portfolio enhancements.”
Novo Nordisk’s experimental weekly insulin comes with a higher risk of low blood sugar, warns FDA
Staff at the U.S. Food and Drug Administration (FDA) said on Wednesday that Novo Nordisk’s experimental weekly insulin, Awiqli, carried a higher risk of hypoglycemia — low blood sugar — for patients with type 1 diabetes, compared with traditional daily insulin.
Biogen is buying up an immune drug developer for $1.8 billion
Biotechnology giant Biogen said on Wednesday that it is acquiring immune drug developer Human Immunology Biosciences (HI-Bio) to boost its late-stage pipeline and immunology portfolio. Biogen has agreed to a $1.15 billion upfront payment and up to $650 million in additional payments if certain milestones are met.
Nestle is launching a food brand designed for Ozempic and Wegovy users
Nestle is getting into the weight loss business. The world’s largest food and beverage company said it plans to launch a frozen food brand that will cater to consumers who use GLP-1 drugs such as Ozempic and Wegovy.
GSK says its experimental drug reduced asthma attacks with only two doses a year
People suffering from a severe form of asthma could soon see their symptoms improve with a new medication that only needs to be administered twice a year. New trial results showed that the long-acting drug, depemokimab, helped reduced attacks for patients with eosinophilic asthma, a form of the disease characterized by high levels of white blood cells called eosinophils.
Hims & Hers is selling an Ozempic knockoff without FDA approval. Here’s how
The millennial-skewed telehealth platform Hims & Hers this week joined several online pharmacies in offering customers a cheaper, compounded version of semaglutide, the active ingredient in popular weight loss drugs like Ozempic and Wegovy. Here is everything you need about compounded weight loss drugs.
Ozempic, Wegovy linked to cases of stomach paralysis, new research shows
New research this month is the latest to link the use of Ozempic, Wegovy, and other GLP-1 drugs to a greater risk of gastroparesis, a potentially serious medical condition. So what exactly is gastroparesis and how worried should you be about it if you’re on or thinking about taking these medications?
AstraZeneca aims increase its annual revenue by 75% in its post-COVID era
Cambridge, U.K.-based pharmaceutical giant AstraZeneca announced an ambitious sales goal for the end of this decade, just as it pulls its COVID-19 vaccines off the shelves. AstraZeneca announced Tuesday that its aims to increase its revenue by a whopping 75% in 2030, up from the $45.8 billion it generated in 2023.
A new genetic test can predict how well Ozempic will work for patients
Those considering whether to try medications like Ozempic for weight loss may soon be able to tell how effective the treatment will be for them. Researchers have found a genetic profile that is likely to lose the most weight after taking semaglutide — the active ingredient in Novo Nordisk’s costly Ozempic and Wegovy treatments, according a new study.
Hims & Hers is now selling Ozempic-like weight loss drugs for $199
The millennial-skewed telehealth platform Hims & Hers announced Monday that is now offering customers a compounded version of semaglutide, the active ingredient in popular weight loss drugs like Ozempic and Wegovy.
The rise of Ozempic: How a diabetes medication sparked the weight loss drug revolution
Danish pharma giant Novo Nordisk launched its game-changing diabetes medication Ozempic in 2017. The weekly injection helps people with type-2 diabetes regulate their blood sugar levels. However, it has become widely known and coveted for is weight loss side effects. Booming demand for Ozempic has transformed Novo Nordisk into one of the most valuable companies in the world. Here is a summary of key events in the rise of Ozempic.