Good morning and happy Wednesday. Today we’re talking about insulin, pharma’s ties with politicians, and some nice champagne.
The need-to-know this morning
- Roche shares traded higher on positive weight-loss results from an early study of an oral GLP-1 drug candidate that the Swiss pharma giant picked up in an acquisition last year.
- Johnson & Johnson reported second-quarter earnings that topped Street consensus, but its profit outlook for the remainder of the year was trimmed slightly due to expenses tied to recent acquisitions.
- Cassava Sciences said CEO Remi Barbier has resigned and will also leave the board. Lindsay Burns, Cassava’s senior vice president for neuroscience and Barbier’s wife, is also leaving the company. The announcement comes after a key outside science collaborator was indicted for alleged fraud.
Patients on insulin fear the GLP-1 gold rush is leaving them behind
As Novo Nordisk and Eli Lilly invest billions to scale up manufacturing capacity for their highly profitable GLP-1 drugs, diabetes patients around the world are suddenly facing shortages of various insulin products.
In the U.S., U.K., and South Africa, vials and pens of insulin (which are similar to the pens that GLP-1 drugs come in) have been out of stock, leading patients to worry that Novo and Lilly are turning resources away from insulin and toward GLP-1s.
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