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Cochlear plunges 40.4% as FY26 guidance slashed
Shares of Cochlear Limited plunged sharply on Wednesday after the company issued a significant downgrade to its earnings outlook, citing weaker demand and mounting cost pressures. The stock dropped as much as 40.4% by 2 pm AEST (4 am GMT), as investors reacted to a trading update that included a substantial reduction in full-year profit guidance and softer-than-expected implant demand across developed markets. In an ASX announcement, the company said: “Since January trading conditions for cochlear implants in developed markets have been softer than expected, with revenue flat for the quarter in constant currency (CC). "Near term surgical volumes have been affected by a combination of hospital capacity constraints and reduced referral activity from the hearing aid channel. Consumer sentiment has declined in key markets, reaching historic lows in the U.S. "The decline appears to be affecting discretionary healthcare decisions in the adults and seniors segment, adding to demand uncertainty in the near term.” Cochlear also highlighted several financial headwinds weighing on its outlook. “Taking into account the lower-than-expected sales, the potential for provisions for receivables required due to the Middle East con
Health
UnitedHealth beats estimates amid streamlining efforts
UnitedHealth Group beat earnings and revenue estimates last quarter amid efforts to streamline operations, and has raised its full-year outlook. Revenue was up 2% year-over-year to US$111.72 billion, above LSEG consensus estimates of $109.57 billion. Earnings were $7.23, up from $7.20 and passing estimates of $6.57. “We are continuing to help simplify and modernize health care for the people and care providers we serve, bringing greater value, affordability, transparency and connectivity,” said UnitedHealth CEO Stephen Hemsley. The company’s overhaul has included exiting non-U.S. businesses, it said, as well as simplifying and modernising through artificial intelligence and cybersecurity investments. It began these efforts in 2025’s second half. Its earnings from operations were $8.99 billion last quarter, down from $9.12 billion one year ago. UnitedHealthcare’s revenues rose 2% to $86.3 billion, with growth across all sub-segments. Earnings from operations increased 9% to $5.7 billion. Optum’s revenue dropped 0.2% during the quarter, while earnings from operations plummeted 15%. UnitedHealth completed the sale of Optum’s United Kingdom business during the quarter. The company’s full-year guidance includes adj
Health
Johnson & Johnson beats estimates despite Stelara drop
Johnson & Johnson surpassed estimates last quarter and has raised its full-year guidance, though sales for its autoimmune medication Stelara plunged. Revenue was up 9.9% year-over-year to US$24.06 billion, beating LSEG-compiled estimates of $23.6 billion. Adjusted earnings per share dipped 2.5% to $2.70, above estimates of $2.66. “Johnson & Johnson had a strong start to 2026 and is delivering on its promise for a year of accelerated growth and impact,” said chair and CEO Joaquin Duato. “The depth and strength of our portfolio and pipeline is unrivaled and our relentless focus on innovation delivered multiple game-changing approvals this quarter, including ICOTYDE in the U.S. for moderate to severe plaque psoriasis and VARIPULSE Pro in Europe. These advancements have the potential to transform patient outcomes and create sustainable, long-term value for shareholders.” United States sales increased 8.3% to $13.33 billion, and international sales grew 11.9% to $10.73 billion. Its Innovative Medicine segment’s revenue rose 11.2% to $15.43 billion, while MedTech revenue was up 7.7% to $8.64 billion. Growth in Innovative Medicine was largely due to oncology drugs like Darzalex and the acquisition of antipsychotic medic
Health
Gilead buys Tubulis for up to US$5bn as spree continues
Gilead Sciences, Inc. will buy Tubulis GmbH for up to US$5 billion (A$7.2 billion) in the latest acquisition aimed at filling its pipeline of cancer drugs. The United States-based biopharmaceutical company said it had entered into a definitive agreement to acquire the private Germany-based biotechnology company that develops next-generation antibody-drug conjugates (ADCs). Gilead will pay $3.15 billion in cash for the equity and up to $1.85 billion in contingent milestone payments in a transaction expected to close in the second quarter of 2026. The company said the acquisition significantly expanded its ADC capabilities by adding next-generation assets and platforms designed to more selectively deliver diverse payloads to tumours and maximise patient benefit. “The agreement to acquire Tubulis is a significant milestone in Gilead’s progress in oncology,” Gilead Sciences Chairman and Chief Executive Officer Daniel O’Day said in a news release. “The company brings a clinical-stage candidate that is a potential new treatment for ovarian cancer, as well as a next-generation ADC platform and a promising early pipeline.” The agreement followed a two-year collaboration with Tubulis, which had given Gilead a strong convi
Health
Eli Lilly opposes White House's new drug pricing laws
Eli Lilly CEO, Dave Ricks, said the company opposes the White House’s proposed “most favoured nation” pricing laws. The company is one of many companies that signed a deal with the Trump administration last year, agreeing to charge similar prices for prescription drugs in the U.S. as in other countries. The deal is expected to eventually increase the number of prescriptions but hurt sales. It also gave Eli Lilly a three-year exemption from tariffs. A concern expressed by Eli Lilly and other critics of the policy is that high U.S. prices are necessary to fund research and development of new drugs. “I think we see a lot of people who would rather reduce prices today and not worry about whether we have any new medicines tomorrow, not worry about whether America will have a robust drug industry and we’ll be able to do research in this country,” Ricks said. “And I worry about those things, so I don’t think that’s a great idea, and we’ve been pretty clear with the administration and the congressional leaders about that.” The development of new drugs can cost billions once regulatory hurdles and failed trials are taken into account. The U.S. also accounts for roughly 40% of the world’s global pharmaceutical revenue.

Health
Weight drug battle heats up as Eli Lilly gets FDA nod
The battle for control of the global weight loss market is about to intensify with the United States Food and Drug Administration (FDA) approving Eli Lilly and Company's weight-loss pill Foundayo. The decision means the United States-based pharmaceutical giant will go head-to-head with Danish rival Novo Nordisk for the millions of people seeking highly effective GLP-1 (glucagon-Like peptide-1) medicines. Eli Lilly said the once-daily pill would be available from direct-to-consumer platform LillyDirect, with prescriptions accepted immediately and shipping starting on 6 April 6, and from pharmacies and on telehealth platforms “shortly after”. The company will introduce Foundayo, the brand name for the drug orforglipron, only three months after Novo Nordisk’s Wegovy pill, setting the stage for the next battle between the rival drugmakers in the next frontier for GLP-1 drugs. Novo Nordisk was the first to market GLP-1 drugs with its injectable medicines, including Ozempic for diabetes and Wegovy for obesity, but Eli Lilly dominates that U.S. market and was first to market with pills through Wegovy. “It’s a big moment,” Eli Lilly Chief Executive Officer David Ricks was quoted as saying by CNBC. He told reporters the d
Health
Eli Lilly deepens AI drug push in Insilico mega-deal
Eli Lilly (NYSE: LLY) has agreed to pay up to US$2.75 billion (A$3.995 billion) for global rights to develop and sell drugs designed by artificial intelligence, striking a licensing and research deal with Hong Kong-listed Insilico Medicine (HK: 3696) that ranks among the largest AI-driven pharma transactions on record. Insilico will pocket $115 million upfront, with the balance tied to regulatory and commercial milestones, plus tiered royalties on future sales. Under the agreement, the Indianapolis-based drugmaker receives an exclusive licence to develop, manufacture and commercialise preclinical oral drug candidates from Insilico's pipeline across selected disease areas, according to a regulatory filing by the company. The Financial Times, which broke the story, reported that among the assets is a GLP-1 drug for diabetes - a category in which Lilly already dominates through its Mounjaro and Zepbound franchises.Not Lilly's first rodeoThe pact builds on an AI-based software licensing agreement the two companies signed in 2023. Insilico has expanded its AI-designed pipeline to 28 candidates, with key clinical milestones including promising Phase IIa data for its lead idiopathic pulmonary fibrosis asset. Insilico CEO A
Health
The Founders: Bringing smiles to the regions
Sibling duo, Claudine and Ned Restom, are on a mission to build one of Australia’s fastest-growing dental groups and fill a gap in regional dentistry. The Australian dental market is worth around A$13 billion, with over 20,000 businesses across the country as of September 2025. Despite this, there is still a short supply of dentists nationwide, particularly in regional areas. There is currently a city-country divide as people in regional and remote areas have more difficulty acquiring dental care. This is where Ned and Claudine’s business, Smile On, comes in.Standing outThe company was first started as a single coastal clinic on Avoca Beach and has since expanded to close to 50 clinics. As part of their business model, the siblings support practice owners to stay independent while benefiting from the support and resources that come with being part of something bigger. “I've worked in regional areas, and I could see a model that regional areas will lack in a lot of support and quality dental care,” Ned tells Azzet. “We teamed up with a lot of practices in those regional areas to create that model, to be able to support them clinically; that model works really well.” Ned also says the partner model makes them
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Hims & Hers ditches copycat drugs in Novo truce
Novo Nordisk has dropped its patent infringement lawsuit against Hims & Hers Health after the pair struck an agreement allowing Hims to distribute branded Ozempic and Wegovy - including the new oral Wegovy pill - through its platform at the same price as other telehealth providers. "We have decided to drop the current court proceedings," Novo CEO Mike Doustdar told CNBC, adding that the company reserves the right to refile "if needed". Shares of Hims & Hers jumped more than 36% in Monday morning trading, though they remain well off their 52-week high of around $70. United States-listed shares of Novo Nordisk rose 1.8%.How the loophole opened - and closedThe dispute has its roots in 2022, when the FDA placed semaglutide on its official drug shortage list. That listing authorised compounding pharmacies to obtain the active ingredient and produce their own versions to meet patient demand. Hims & Hers began selling compounded injectable semaglutide in May 2024 under that provision. On 9 February last year, the company ran a Super Bowl commercial called "Sick of the System", which reached an estimated 127 million viewers and promoted its compounded formulation as a lower-cost alternative to branded GLP-1 drugs. Then on 2