Text size Vasant Narasimhan, CEO of Novartis. ERIC PIERMONT/AFP/Getty Images Pharmaceutical giant Novartis said Tuesday it will lay off more than 7% of its workforce, just a few months after CEO Vas Narasimhan announced a plan to simplify the organizational chart. Novartis (ticker: NVS) will chop as many as 8,000 positions out of the total of … Read More “Novartis Will Cut 8,000 Jobs Under CEO’s Shake-Up Plan” »
Tag: Biotech and Pharma
Text size Axsome is reviewing the proposed labeling from the FDA. Dreamstime Shares of Axsome Therapeutics were soaring Monday after the biopharmaceutical company announced some good news in an attempt to gain Food and Drug Administration approval of AXS-05, its drug for major depressive disorder. In a filing with the Securities and Exchange Commission, Axsome … Read More “Axsome Therapeutics Stock Soars on Proposed FDA Labeling for Depression Drug” »
A general view of the Kremlin, Red Square and St. Basil’s Cathedral in central Moscow. AFP via Getty Images Text size Russia’s first default on its foreign debt in more than 100 years is the latest sign that the sanctions levied against the country after the Ukraine invasion have consequences. But it’s probably not that … Read More “The Russian Default Is Less Worrisome Than It Appears. Keep Watching Oil.” »
Text size Pfizer’s investment in Valneva will help support development of Lyme disease program. AFP via Getty Images Pfizer has agreed to invest €90.5 million ($95.25 million) in an 8.1% stake in Valneva to boost the two companies’ development of a vaccine against Lyme disease. The U.S. pharmaceutical giant will buy Valneva (ticker: VALN.France) at … Read More “Pfizer To Buy 8.1% Stake In French Vaccines Company Valneva” »
Stocks are poised to open lower on Monday. (Photo by Spencer Platt/Getty Images) Getty Images Text size U.S. stocks were poised for a lower opening on Monday ahead of the Federal Reserve’s decision on interest rates, due out on Wednesday. At 6:15 p.m. Eastern time, futures for the Dow Jones Industrial Average fell 133 points, … Read More “U.S. Stocks Poised to Open Lower on Monday Ahead of Fed Week” »
Text size Biotech stocks Kymera, Cullinan Oncology, Repare, Iovance, and Kodiak Sciences are all in the red so far this year, but they’ve seen large stock buys. Dreamstime Biotech stocks have taken some lumps this year, and some have seen some large stock purchases made by big shareholders. Shares of cancer-therapy developers Kymera Therapeutics (ticker: … Read More “Five Beaten-Up Biotech Stocks Saw Big Share Purchases” »
Customers at the Apple Store at the Grand Central Terminal in New York City earlier this year. Getty Images Text size As Apple preparing to upgrade its products, there are two distinct trends affecting the economy right now and they are both bad for technology stocks. On the one hand, there is runaway inflation, with … Read More “Apple needs to show some sparks as customers prefer services over things” »
Text size Photo by Georges Gobet / AFP / Getty Images Turning point therapy the stock has more than doubled after Bristol Myers Squibb announced that they had agreed to buy the company. It’s just the latest deal for a proposed biotech stock. Turning Point stock (TPTX) rose 114% to $ 73.26 at 7:05 a.m. … Read More “The turning point is doubled after Bristol Myers announces takeover” »
Text size A healthcare professional is preparing a dose of Nuvaxovid vaccine. Jeroen Jumelet / ANP / AFP via Getty Images Novavax the stock fell on Friday after receiving a sales equivalent rating – the first since December 2020 and the only one from Wall Street. Bank of America Securities analyst Alec Stranahan began coverage … Read More “Novavax receives a sales rating. It has a Covid vaccine problem, analysts say.” »
Text size Moderna’s CFO is leaving. Clement Mahoueau / AFP / Getty Images Modern said early Wednesday that its newly-appointed chief financial officer had left the company after only a day on the job, after his former employer disclosed an internal investigation into matters including financial reporting. The CFO, Jorge Gomez, was formerly the CFO … Read More “Modern Stock Slips as CFO Departs” »