Latest news with #Pharmaceutical
Reuters
9 hours ago
- Business
- Reuters
Obesity drugmaker Novo Nordisk plunges as it cuts forecasts again
COPENHAGEN, July 29 (Reuters) - Obesity drugmaker Novo Nordisk ( opens new tab on Tuesday cut its full-year sales and operating profit forecasts for the second time this year, sending its shares down as much as 17%. The maker of weight-loss drug Wegovy is struggling to convince investors it can remain competitive in the obesity drug boom against U.S. rival Eli Lilly (LLY.N), opens new tab. Novo shares have fallen sharply over the past year. "The lowered sales outlook for 2025 is driven by lower growth expectations for the second half of 2025," the company said in a statement. "This is related to lower growth expectations for Wegovy in the U.S. obesity market, lower growth expectations for Ozempic in the U.S. GLP-1 diabetes market, as well as lower-than-expected penetration for Wegovy in select IO (International Operations) markets," it said. Novo now expects 2025 sales growth of 8%-14% in local currencies, down from its previous 13%-21% forecast range. It also lowered its operating profit growth estimate to 10%-16%, from 16-24% previously. Sales rose 18% year-on-year in both the second quarter and the first half of the year, Novo said. Its operating profit increased by 40% in the April-June quarter and by 29% in the first half, the company added. Booming sales of Wegovy catapulted Novo to become Europe's most valuable listed company in 2024, peaking at about 615 billion euros, but the value has since fallen by more than half. CEO Lars Fruergaard Jorgensen was ousted in May by Novo and its controlling shareholder, the Novo Nordisk Foundation, but will remain in his position until a successor is appointed. The company is scheduled to release full second-quarter earnings on August 6.
Yahoo
12 hours ago
- Business
- Yahoo
AstraZeneca reports profit jump in second quarter, confirms outlook
Profit and revenue for British-Swedish drug major AstraZeneca were up in the second quarter, the company reported on Tuesday, confirming its fiscal 2025 outlook. Profit before tax climbed 30% to $3.13 billion in the second quarter, up from last year's $2.40 billion, the Cambridge-based firm said. Earnings per share came in at $1.57, up from $1.24 in the same period last year. Core earnings per share stood at $2.17 for the period. Earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 22% to $4.90 billion from last year's $4.03 billion. AstraZeneca said total revenue for the quarter increased 12% to $14.46 billion from last year's $12.94 billion. Revenue, meanwhile, grew 11% at constant exchange rates. Analysts on average expected the company to record revenues of $14.10 billion for the quarter. Analysts' estimates typically exclude special items. Looking ahead, AstraZeneca continues to expect core earnings per share to increase by a low double-digit percentage in the 2025 financial year, and total revenue to increase by a high single-digit percentage.
Yahoo
3 days ago
- Business
- Yahoo
Pharma sector outlook as Trump's drug tariff deadline looms
Pharmaceutical stocks are in focus as President Trump's drug tariff deadline looms. Yahoo Finance Senior Reporter Anjalee Khemlani joins Market Domination with Josh Lipton to discuss the impact that pharmaceutical tariffs could have on the sector, Astrazeneca's (AZN) $50 billion commitment to US investments, and how the industry is navigating pressure from Washington and shifting global demand. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Pharmaceutical stocks in focus as we approach President Trump's looming drug tariff deadline. For more, I want to bring in Yahoo Finance senior health reporter Angelique Chenge. That's right, Josh. With that looming deadline, potentially August 1st, for up to 200% in tariffs, we don't know what that number will actually end up being. We've heard from several companies that have announced manufacturing commitments in hopes to thwart that effort. That includes AstraZeneca. We spoke to CEO Pascal Soriot about that, and he did mention that the announcement for $50 billion, that's in addition to $3.5 billion last year, is in part a response to Trump's tariffs. We know others like Eli Lilly and Johnson & Johnson have also announced similarly big announcements of commitments for manufacturing. And this is in play at a time where the industry is also going through a bit of tumult. We know that there is a lot of investment in one of Trump's least favorite countries, that is China. That is the reason why there has been a lot of tension in the biotech world. We also know that big pharma has been pivoting and investing there as well. Licensing deals and the like are on the rise as they look to sort of respond to all the different countries that are looking for what has now been termed health sovereignty. And this plays into that. So, when I asked Pascal about that, about China and the deal making there, here's what he had to say about it. We believe that it's our ethical responsibility to bring medicines to as many people as possible. Of course, there are limitations to what we can do, but we work very hard to do this. And we are lucky enough or good enough or both, that we are growing. And growth brings opportunities. And because we are growing, we are able to invest in United States for the United States, we're able to invest in China for China, and we're also able to seek innovation where it happens. Because actually, if innovation happens in China or in Europe, we need to take this innovation, develop it, and bring it to patients for instance in the United States, but manufacture the product in the United States. Um, and I think that brings me to an important point that people don't talk enough about is that today innovation in our industry takes place in the U.S. U.S. is the biggest innovator for biopharmaceuticals. And it's really important that everything is done to protect that innovation. It's a fantastic engine to bring new medicines to patients but also create good jobs, well-paid jobs, and economic growth. So, as you can hear, a lot of focus on that, on economic growth being the driver as well and needing to respond to these countries and their efforts. AstraZeneca also talked about how it would help shift revenues for the portfolio with a greater reliance on the U.S. Currently, 42% of revenues comes from the U.S. And with this increase in manufacturing, it would be 50%. And that includes GLP-1s. We know that there's a lot of global demand for that drug and for those types of drugs. AstraZeneca has been pursuing an oral form or pill form, which is largely seen as the next frontier in this space. AstraZeneca looking at being able to then supply the rest of the world from the U.S., making it a larger exporter. So, here's what Pascal said about that. It's also a reason, another reason why we are investing in this very large facility. We have our oral GLP-1. Everybody knows GLP-1 by now. These are agents used to help people manage their weight. We have an oral agent, and we have bet on oral agents because we think they are going to be easier for patients, because they will be cheaper, they'll be more accessible, and we will be able to export them around the world, not only supply America. But we also have other products treating cardiovascular metabolic disease. We have a new agent for hypertension for patients who are not controlled on multi-medicines. We have an oral PCSK9 for the control of cholesterol and many others. Cardiovascular metabolic diseases are the biggest killer in the world today, including in the United States. So, you can see the needs are enormous. This plant will supply products for American patients, so American patients will access products that are American-made. But this plant will also export to the billions of patients around the world who need these medicines. The company really moving that pot of money, you know, globally and looking at where it makes the most sense. Pascal also did tell me that in looking at the different areas of the world where the money can be, you know, invested, China, of course, being one of them. And then if you compare the amount that has been put in there, that is $5.3 billion is one of the latest deals that AstraZeneca has done in China. And if you compare that to the $50 billion, while not on the same level, you can still see it's quite a large number. And that's just one of those deals. So, we're starting to see a little bit of bifurcation in how the global pharmaceutical economy is functioning. Related Videos Uncertainty is 'here to stay': What that means for markets BlackRock's Rick Rieder: I Think Rates Can Come Down Elon Musk's 'master plan': Is Tesla an EV maker or AI play? 'We ask for more data' than FICO: VantageScore CEO Sign in to access your portfolio
Business Recorder
6 days ago
- Business
- Business Recorder
Production capacity boost: Haleon plans to ramp up investment in Pakistan
KARACHI: Haleon has planned to ramp up its investment in Pakistan with an initial outlay of $12 million, aimed at expanding its production capacity. As part of this strategic move, the company will scale up the manufacturing of Panadol to meet the country's rising demand more efficiently and ensure consistent supply of this essential medicine. Speaking to media at Haleon's head office, Qawi Naseer, CEO and General Manager Haleon Pakistan said that the demerger from GSK in 2022 allowed Haleon to focus exclusively on consumer healthcare, besides giving a greater autonomy to invest in local operations, brand innovation, and community impact initiatives. Haleon is a world leader in consumer health, operating in 170 markets with a portfolio spanning Oral Health, Pain Relief, Respiratory Health, Digestive Health, Vitamins, Minerals, Supplements, and Therapeutic Skin Health. Haleon Pakistan names Qawi Naseer as next CEO He said over the past three years, Haleon has achieved several significant milestones, including the successful launch of locally manufactured Centrum, which now caters to both domestic and export markets. Additionally, the company has committed a $12 million investment to scale up Panadol production to 8 billion tablets annually at the Jamshoro facility to efficiently meet the rising demand, Naseer added. 'We have a broader investment plan to further expand our manufacturing facility; however, these are subject to approvals from the regulatory authorities. We have submitted some plans, once the necessary approvals are secured, we will proceed with additional investments to enhance our production lines accordingly', he added. He also appreciated the role of DRAP in implementing the industry friendly policies. He informed that the majority of production of the Haleon is currently serving domestic demand, besides exports to Vietnam and Philippines. In addition, the goal is to export to 19 countries in the next 12-18 months, targeting 10 percent of total sales from exports. In order to enhance the exports, there will be a need to add more production lines, CEO Haleon said. Naseer emphasized that Pakistan is a land of opportunities, but consistent and sustainable economic policies are essential to attract greater investment. 'Organizations like OICCI and PBC are ready to support the government in formulating long-term economic policies spanning at least 5 to 10 years,' he noted. 'Such measures will play a key role in restoring investor confidence in Pakistan's economy,' he added. Haleon Pakistan is working with 450 employees across the country and a manufacturing facility in Jamshoro, besides regional sales offices in Multan, Lahore, and Islamabad. 'Haleon's transformation journey, exporting Centrum from Jamshoro and scaling local manufacturing, felt like a powerful platform to make a real difference,' he said. He informed that Active Pharmaceutical Ingredients (APIs) are imported by all healthcare companies in Pakistan, however, the company is actively exploring local sourcing partnerships where feasible, without compromising on quality or compliance. Naseer encouraged allocation of ?200 million under science and technology for API import substitution and biotech R&D and said that this signals a positive step toward reducing Pakistan's reliance on imports and aligns with Haleon's interest in exploring local sourcing partnerships. However, he expressed concern about the introduction of an 18 percent sales tax on e-commerce transactions, especially since many consumers today rely on online channels to access OTC products like Panadol and Centrum. This could affect affordability and access, he said. Haleon has also strengthened its CSR footprint through health, education, and clean water initiatives across regions. Through the Health Partner Medical Information (HPMI) platform, Haleon trains healthcare professionals in self-care guidance. The briefing was part of the activities held to commemorate International Self-Care Day and to celebrate Haleon's third anniversary as an independent consumer health company. Naseer reaffirmed Haleon's commitment to empowering individuals to take charge of their everyday health through innovative and accessible self-care solutions. Haleon's mission under the commitment to self-care, is to empower individuals to manage their health through trusted products, education, and accessible solutions. With 57.5 percent of healthcare costs in Pakistan paid out-of-pocket, self-care, which is a preventive approach to healthcare, is critical for affordability and access, particularly in underserved areas. Haleon has taken multiple Initiatives for self-care and supporting healthcare professionals with self-care tools and training, collaborations with TCF, Smile Train, Allay Walay Trust, Oladoc, Marham, and Unicef to promote health equity, nutrition, and oral care and running awareness campaigns focused on preventive healthcare, oral hygiene, and maternal health. With access to healthcare remaining uneven and often unaffordable in Pakistan, self-care is emerging as a critical public health tool. Haleon is promoting self-care by empowering individuals to take charge of their health through trusted products and credible information, he informed. In 2024, the Haleon plant launched the 'SunPower Survival' project to further increase its renewable energy capacity by an additional 0.38 MWp. Of this, 0.18 MWp was successfully commissioned in 2024, with the remaining 0.2 MWp scheduled for commissioning in 2025. The site utilized an established third-party waste composting facility to improve waste circularity, converting approximately 31,529 kgs/annually of organic waste into fertilizer, thereby contributing positively to environmental sustainability. Copyright Business Recorder, 2025
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Business Standard
7 days ago
- Business
- Business Standard
Concord Biotech rises 2% on incorporating its arm for marketing and sales
Concord Biotech shares rose 2.3 per cent, logging an intraday high at ₹1941.25 per share on the BSE. At 1:22 PM, Concord Biotech share price was trading 1.72 per cent higher at ₹1,930 per share on BSE. In comparison, the BSE Sensex rose 0.43 per cent to 82,544.23. The market capitalisation of the company stood at ₹20,190.93 crore. The 52-week high of the company stood at ₹2,658 per share, and the 52-week low was at ₹1,370.05. Why were Concord Biotech shares buzzing in trade? The buying on the counter came after the company incorporated its subsidiary Concord Lifegen, with an objective to carry out marketing, sales, and distribution of pharmaceutical products. The total cost of acquisition is worth ₹1,00,000. "We are pleased to announce incorporation of Concord's Wholly Owned subsidiary company, namely, 'Concord Lifegen Limited' with objective to carry out marketing, sales, and distribution of pharmaceutical products," the filing read. Its primary objectives include executing targeted sales strategies, ensuring regulatory compliance across domestic and international markets, handling logistics and customer support, and maintaining transparent reporting to the holding company, according to the filing. The authorised share capital (as on July 22, 2025) of Concord Lifegen is ₹1,00,000 divided into 10,000 equity shares of ₹10 each issued share capital (as on July 22, 2025). That apart, in Q4, the company's profit climbed 47.8 per cent year-on-year (Y-o-Y) to ₹140 crore in the March quarter of FY25, from ₹95 crore in the March quarter of FY24. Concord Biotech's revenue from operations surged 34.8 per cent Y-o-Y to ₹429.9 crore in Q4FY25, from ₹319 crore in the same quarter a year ago. About Concord Biotech Concord Biotech is a research-driven biopharmaceutical company specialising in the production of Active Pharmaceutical Ingredients (APIs) through fermentation and semi-synthetic processes, along with finished formulations. Initially a single-product entity, Concord has evolved into a comprehensive solutions provider, offering a broad range of products across various therapeutic segments. The company has established a global presence, distributing its products in over 70 countries, including key markets like the USA, Europe, Japan, and Latin America, while also maintaining a major footprint in India.
