Pfizer Financial News

₹67,000 crore, a significant increase from its previous level of ₹49,700 crore as of June 2023, according to a report by Nuvama Institutional Equities. Likewise, the mid-cap cut-off has seen an uptick to ₹22,000 crore, surpassing the earlier mark of ₹17,400 crore.

By Michael Erman and Patrick Wingrove

OmniActive Health Technologies, an integrated nutraceutical ingredient maker, is scouting for acquisitions to enlarge its product basket, gain access to customers and technologies, and expand geographically. «We are continuously scanning companies for products, customers, and technologies...this may require us to raise capital from financial institutions in India or abroad,» Sanjaya Mariwala, chairman and managing director of Mumbai-based OmniActive, told ET in an interview. In January 2021, US private equity firm TA Associates had acquired a majority stake in OmniActive. According to Crisil, as of July 2023, TA held 56.35% stake in OmniActive and the Mariwala family held 39.99%, while the rest was held by other shareholders. Mariwala expects OmniActive to grow at a much faster rate in the next several years through launch of new products and expansion. The company's revenue in FY23 was ₹716 crore. Over the years, OmniActive has spent ₹400-500 crore on research and development (R&D) and created a backward integrated model, where it sources flower extracts and botanical plants from agricultural fields through contract farming and established USFDA-compliant facilities to extract, isolate and purify the active nutraceutical ingredients. It has emerged as one of the top suppliers to global consumer health and pharmaceutical companies such as Bausch & Lomb (eye health), GNC, The Vitamin Shoppe, Novartis and Pfizer, among others.

With just three trading days left in 2023, stocks on Wall Street are on track to end the year on an upbeat note with investors growing increasingly optimistic that the Federal Reserve is done with raising interest rates as inflation continues to cool.

Drugmaker Bristol Myers Squibb is acquiring Karuna Therapeutics, a biopharmaceutical company that has developed a new antipsychotic, in a $14 billion deal

History shows that significant drops in Treasury bond yields are favorable for the stock market. Since 1980, there have been 33 instances where the yields on 10-Year Treasury bonds fell by 50 basis points or more in a month.

Check out the companies making headlines in midday trading.

Pfizer on Wednesday forecast 2024 sales that were as much as $5 billion below Wall Street expectations due mostly to declining demand for COVID vaccines and treatment, driving shares down seven per cent in premarket trading.

Investing.com — The Dow closed at record high Wednesday after the Federal Reserve's decision to keep rates unchanged, but forecast deeper rate cuts for next year, pushed growth stocks including tech sharply as Treasury yields slumped.

Apart from Jio Financial, Power Finance Corporation, Indian Railway Finance Corporation, Macrotech Developers, Polycab India, REC, Shriram Finance, Union Bank of India, and Indian Overseas Bank are the others that may enter into the largecap category, according to Nuvama. The official changes will be announced by AMFI in the first week of January 2024, and they will be applicable for the February-to-July period. The AMFI stock categorization list is mainly referred to by active equity fund managers. As of July, the large-cap market cap cutoff stood at Rs 497 billion, and the mid-cap cutoff was Rs 174 billion. However, Nuvama’s latest calculations indicate that the largecap market-cap cutoff has increased to Rs 667 billion, and the midcap cutoff has gone up to Rs 219 billion. Potential Midcap Candidates Nuvama sees potential for 14 stocks to enter into the midcap category of AMFI in February, and this includes Dalal Street’s newest hero Tata Technologies.

Shares of Pfizer Ltd.(up 0.91 per cent), Gland Pharma Ltd.(up 0.82 per cent) and GlaxoSmithKline Pharmaceuticals Ltd.(up 0.07 per cent) ended the day as top gainers in the pack. On the other hand, Glenmark Pharmaceuticals Ltd.(down 3.15 per cent), Zydus Lifesciences Ltd.(down 2.94 per cent), Torrent Pharmaceuticals Ltd.(down 2.24 per cent), Alkem Laboratories Ltd.(down 1.91 per cent) and Granules India Ltd.(down 1.68 per cent) finished as the top losers of the day.

Alkem Laboratories Ltd.(up 2.53 per cent), Zydus Lifesciences Ltd.(up 1.49 per cent), Glenmark Pharmaceuticals Ltd.(up 1.21 per cent), Sun Pharmaceutical Industries Ltd.(up 0.94 per cent) and Granules India Ltd.(up 0.86 per cent) were among the top gainers. Gland Pharma Ltd.(down 0.7 per cent), Pfizer Ltd.(down 0.63 per cent), Biocon Ltd.(down 0.59 per cent), GlaxoSmithKline Pharmaceuticals Ltd.(down 0.27 per cent) and Cipla Ltd.(down 0.19 per cent) were the top losers on the index.

Zydus Lifesciences Ltd.(up 0.91 per cent), GlaxoSmithKline Pharmaceuticals Ltd.(up 0.88 per cent), Ipca Laboratories Ltd.(up 0.87 per cent), Laurus Labs Ltd.(up 0.85 per cent) and Lupin Ltd.(up 0.77 per cent) were among the top gainers. Aurobindo Pharma Ltd.(down 1.21 per cent), Divi's Laboratories Ltd.(down 1.0 per cent), Natco Pharma Ltd.(down 0.53 per cent), Granules India Ltd.(down 0.4 per cent) and Pfizer Ltd.(down 0.22 per cent) were the top losers on the index.

By David Carnevali

Pfizer shares sank Friday when the drugmaker announced that it was abandoning a twice-daily obesity treatment after more than half the patients in a clinical trial stopped taking it

By Ludwig Burger and Noele Illien

Malhotra has alleged that the World Health Organisation (WHO) has completely lost its independence and suggested that the Indian government should ignore its advice on various issues and exit the global health body. Talking to PTI, Malhotra, who gave a lecture at the All India Institute of Medical Sciences (AIIMS) here on «The Corporate Capture of Medicine and Public Health» recently, also claimed that regulators do not independently evaluate data related to drugs. «Drug regulators, such as the FDA, who are supposed to evaluate drugs, receive 65 per cent of their funding from big pharma.

By Stephen Culp

Investing.com -- Shares in Pfizer (NYSE:PFE) slumped in early trading on Friday after the drugmaker said that the twice-daily form of its new oral obesity treatment will not advance into late-stage studies.

Investing.com — U.S. futures traded in a mixed fashion Friday, starting a new month in a muted fashion ahead of a speech from Fed Chair Jerome Powell.

This initiative follows a summer surge in COVID-19 cases that sparked debates about masking in classrooms, leading to varied policies across different districts. Although there has been a slight decrease in COVID-19-related hospitalizations in recent months, there has been an uptick in the last few weeks, as indicated by the latest federal data. This announcement highlights the enduring impact of the coronavirus on American schools and society. It reflects the evolution from the challenges faced during the height of the pandemic, with limited testing availability, to the current efforts to ensure resources for testing are more widely accessible as schools navigate ways to stay open while prioritizing student safety. Novavax's updated vaccine has been granted emergency-use authorization by the World Health Organization (WHO) for active immunization to prevent COVID-19 in individuals aged 12 and older, the company said on Tuesday. The updated Novavax shot, which was authorized in the U.S. last month, targets a descendant of the XBB lineage of the coronavirus that was globally predominant earlier this year. The emergency use listing helps speed up the regulatory approvals to import and administer the vaccines by member states, according to the WHO. Novavax missed out on the COVID-19 vaccine windfall, which benefited mRNA rivals, due to manufacturing issues that delayed its filing for regulatory approval during the peak of the pandemic. Its original COVID shot received U.S. authorization in July 2022, long after Pfizer and Moderna vaccines were in use. Novavax's updated shot uses a more traditional protein-based technology than the mRNA-based vaccines by Pfizer and Moderna.