Health Headlines: FDA's Rebuff, Weight Loss Pill Breakthroughs, and Vaccine Woes
This news brief covers the FDA's decision not to review Moderna's influenza vaccine application, Kailera and Hengrui's promising weight loss pill trial, and CSL's financial decline following CEO resignation. Also mentioned are CVS Health's positive financial forecast, Bally’s concerns about Incyte's revenue predictions, and other significant health sector updates.
The U.S. Food and Drug Administration has opted not to review Moderna's influenza vaccine application, causing the company's stocks to fall by 8% in after-hours trading. This decision stemmed from Moderna's comparison of its new vaccine candidate to existing standard-dose seasonal flu vaccines.
A mid-stage trial by U.S.-based Kailera Therapeutics, in partnership with Jiangsu Hengrui Pharmaceuticals, demonstrated substantial weight loss among patients using their experimental obesity pill. The drug aims to differentiate itself within the GLP-1 treatment class through unique targeting mechanisms.
Australia's CSL Ltd witnessed a significant 81% decline in first-half profits, attributed to weaker vaccine and plasma product sales and unforeseen charges. Following CEO Paul McKenzie's abrupt departure, shares hit an eight-year low, with Gordon Naylor stepping in as interim chief executive.
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