Peter Loftus

2 months ago | wsj.com | Peter Loftus

Moderna shares fell 3% in premarket trading after the biotech company swung to a quarterly loss, as fading demand for its Covid-19 vaccine hurts sales. The company reported a net loss of $1.1 billion, or $2.91 per share, which included costs to end a contract manufacturing deal and an inventory writedown. A year earlier, Moderna earned $217 million, or 55 cents a share.

2 months ago | wsj.com | Peter Loftus

Johnson & Johnson’s halt of U.S. sales of a new heart-rhythm device due to safety concerns is hobbling a major strategic push by the company into one of the industry’s fastest-growing markets. The healthcare company paused use of the device, known as Varipulse, last month after receiving reports of neurovascular events in several patients.

2 months ago | wsj.com | Peter Loftus

Illumina shares tumbled 8% Friday on investor concerns about the future of the gene-sequencing equipment maker’s business in China, growing competitive threats, and the potential for Trump administration cuts to federal research funding.

2 months ago | wsj.com | Peter Loftus

American depositary shares of GSK jumped more than 8% Wednesday after the drugmaker reported better-than-expected quarterly results and boosted its long-term sales forecast. Sales of vaccines against meningitis and influenza, as well as cancer drugs, fueled the quarterly results. GSK said it now expects 2031 sales of $50 billion, up from $47.5 billion previously. The company cited advances in its research and development pipeline, including plans for additional uses of its cancer drug Blenrep.

Jan 17, 2025 | wsj.com | Peter Loftus |Liz Essley Whyte

The U.S. government named 15 drugs that will be subject to the second round of price negotiations by Medicare, including Ozempic and Wegovy, the drugs at the center of the weight-loss craze. The Biden administration said the drugs account for $41 billion in annual Medicare spending, and that price negotiations could result in significant savings. U.S. health officials selected the drugs because they account for high Medicare spending due to widespread use or high price tags.