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US Medicare negotiates lower prices for 15 new drugs
The United States’ Medicare health insurance program has negotiated lower prices for 15 prescription drugs from 2027, which could save 36% in annual spending. These medications include weight loss drugs Ozempic and Wegovy, as well as treatments for asthma, leukemia, and prostate and breast cancer. The new prices are the amount the Medicare program will pay drugmakers, with costs for individual Medicare recipients depending on their coverage. “The Maximum Fair Prices (MFPs) for these 15 drugs will become effective January 1, 2027, bringing the total number of negotiated drugs to 25 when combined with the 10 previously negotiated drugs with MFPs taking effect January 1, 2026,” wrote the Centers for Medicare & Medicaid Services (CMS). “The MFPs offer substantial savings for both beneficiaries and the Medicare program.” Medicare health insurance is available to Americans aged at least 65 and those with disabilities, with over 66 million people currently covered. Around 5.3 million people in the U.S. under Medicare Part D healthcare coverage used these 15 drugs during 2024, according to CMS. These price reductions will save around US$8.5 billion in Medicare spending, the agency estimated, and will save individuals about
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Drug trial failure sends Novo Nordisk shares plunging
The Novo Nordisk share price dived to a four-year-low after the failure of Alzheimer’s disease drug trials. The Danish-based pharmaceutical company said the two years of trials showed semaglutide did not help slow the progression of the brain-wasting disease in the 3,808 adults aged 55 to 85 who were enrolled. Novo Nordisk (CPH: NOVO-B) shares closed 17.65 Danish kroner (5.79%) lower at 287.00 kroner, capitalising the company at 1.03 trillion kroner (US$154 billion), after earlier dropping to a four-year low of $266.90. The company said the evoke and evoke+ trials did not confirm the superiority of semaglutide versus placebo in the reduction of progression of Alzheimer’s disease. “While treatment with semaglutide resulted in improvement of Alzheimer’s disease-related biomarkers in both trials, this did not translate into a delay of disease progression,” Novo Nordisk said in a company announcement. Chief Scientific Officer and Executive Vice President of Research and Development Martin Holst Lange said the company felt a responsibility to explore semaglutide’s potential, based on the significant unmet need in Alzheimer’s disease as well as a number of indicative data points, and despite a low likelihood of success.
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Abbott to acquire Exact Sciences in US$23bn deal
Pharmaceutical company Abbott will buy cancer diagnostics business Exact Sciences for up to US$23 billion (A$35.5 billion), marking its entry into the oncology screening sector. Exact Sciences flagship cancer screening tests target conditions including colorectal and breast cancer. Abbott will pay $105 per share in cash, the companies said. "Exact Sciences' innovation, its strong brand and customer-focused execution are unrivaled in the cancer diagnostics space, and its presence and strengths are complementary to our own," said Abbott CEO Robert B. Ford. "Together with Abbott, we can reach more patients, advance earlier detection, and deliver answers that change lives," said Exact Sciences CEO Kevin Conroy. "Abbott's culture of innovation and global commercial reach will help accelerate our mission of eradicating cancer and expanding access to our tests worldwide, while delivering immediate and substantial value to our shareholders.” The purchase values Exact Sciences at $23 billion, including $1.8 billion in net debt. It is set to close in 2026’s second quarter. Exact Sciences will become a subsidiary of Abbott after the transaction closes, with Abbott projecting the combined company’s total diagnostics sales will
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Johnson & Johnson buys cancer drug startup Halda
Johnson & Johnson will acquire cancer treatment developer Halda Therapeutics for US$3.05 billion (A$4.68 billion), as it sharpens its focus on novel treatments in fields like oncology. Halda specialises in RIPTAC treatments, a new category of drugs that selectively target cancer cells. Its lead drug candidate is in early to mid-stage development, and is an oral medication for prostate cancer. “Many therapies lose effectiveness over time due to resistance. Halda’s innovative technology is designed to work even when cancers no longer respond to standard treatments using a novel mechanism that enables the selective killing of cancer cells,” said John C. Reed, Johnson & Johnson’s executive vice president, Innovative Medicine, Research & Development. “Through this transaction, we will continue to rapidly develop this promising program for patients with prostate cancer and advance Halda’s innovative pipeline from its RIPTAC platform to address a range of diseases,” said Halda CEO Christian S. Schade. The transaction is set to close in the next few months, Halda said. This is the first time a major company has acquired a RIPTAC startup, though no RIPTAC drugs have yet been approved by regulators. Halda is also developin
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Novo trims Ozempic, Wegovy costs amid GLP-1 price war
Novo Nordisk has cut direct-to-consumer prices for blockbuster weight loss drug Wegovy and diabetes treatment Ozempic to US$349 per month from $499, ramping up the price war for in-demand GLP-1 medications as the Danish drugmaker battles sliding market share. The Monday announcement includes a temporary introductory offer letting new cash-paying patients access the two lowest doses for $199 monthly during their first two months of treatment - available through 31 March 2026. It marks Novo's latest move to stem losses to rival Eli Lilly, which captured 57% of the U.S. GLP-1 market during the second quarter, up from 53% earlier this year, according to Lilly investor presentations. Novo's shares have cratered 44.8% year-to-date as investors fret over prescription trends and heightened competition. The pricing cuts follow deals struck by President Donald Trump with both drugmakers in early November to broaden Medicare access and slash government costs for GLP-1 drugs - part of his "Most Favored Nation" push to align U.S. drug prices with other developed nations. Under those agreements, Medicare will cover obesity drugs for the first time starting mid-2026, with beneficiaries paying $50 co-pays each month. The governm

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Merck buys Cidara, adds flu drug to pipeline
Merck is expanding its drug development pipeline with the acquisition of Cidara Therapeutics for about US$9.2 billion (A$14.2 billion). The American pharmaceuticals giant said it would pay $221.50 per share in cash for the biotechnology company, which is developing influenza drug CD388. Merck Chairman and Chief Executive Officer Robert M. Davis said the company continued to execute its science-led business development strategy by augmenting its pipeline with CD388. CD388 is an investigational long-acting, strain-agnostic antiviral agent undergoing Phase 3 trials and designed to prevent influenza infection in individuals at higher risk of complications. “We intend to build on the Cidara team’s remarkable progress and are confident that CD388 has the potential to be another important driver of growth through the next decade, creating real value for shareholders,” Davis said in a news release. Merck has bolstered its late-stage pipeline since 2021, ahead of the loss later this decade of patents for cancer drug Keytruda, developing drugs in-house and making large deals. They include the $11.5 billion purchase of Acceleron to acquire pulmonary arterial hypertension drug Winrevair and the $10 billion buyout of UK-based
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US hemp industry at risk as most products face ban
The United States’ US$28 billion hemp industry could soon face major job and profit losses, as Congress’ new government funding bill is set to ban almost all hemp products. The clause will ban products with more than 0.4 milligrams of THC, cannabis’ main psychoactive ingredient, per container. It is part of the funding legislation that ended the 43-day government shutdown yesterday, after being signed into law by U.S. President Donald Trump. “This would shut down legitimate businesses, eliminate thousands of jobs, and force patients, seniors, and veterans who rely on hemp products to break federal law to access the relief they depend on,” wrote the National Cannabis Industry Association. “U.S. Senators were promised that this bill protects non-intoxicating CBD products, which is manifestly untrue – the large majority of non-intoxicating CBD products on the marketplace feature more than 0.4 mg of THC per container,” according to the U.S. Hemp Roundtable. The ban would impact more than 95% of hemp extract products, the U.S. Hemp Roundtable said. Over 300,000 jobs related to the hemp retail market are at risk, hemp research firm Whitney Economics estimated. These restrictions will enter into effect in November 2026. Th
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Pfizer clinches US$10bn obesity drugmaker Metsera
United States pharmaceutical giant Pfizer has clinched a US$10 billion (A$15.4 billion) takeover of obesity drugmaker Metsera after Danish rival Novo Nordisk walked away from the bidding war, citing antitrust headaches and inflated valuations. The New York-based drugmaker agreed to pay $86.25 per share - $65.60 upfront with contingent value rights worth up to $20.65 per share tied to clinical milestones. That's a 3.69% premium to Metsera's Friday close and roughly double Pfizer's original $7.3 billion September bid. Novo Nordisk bowed out Saturday after the U.S. Federal Trade Commission warned its proposed structure risked violating antitrust laws. Metsera's board said Novo's offer presented "unacceptably high legal and regulatory risks" compared to Pfizer's proposal, which already secured FTC clearance. The collapse marks a setback for Novo as it battles to reclaim market share from Eli Lilly in the obesity drug space. Analysts project the global market could hit $150 billion by the early 2030s, up from roughly $15 billion in 2024. Pfizer's winning bid hands it access to Metsera's experimental pipeline - notably MET-097i, a GLP-1 injectable, and MET-233i, which mimics the pancreatic hormone amylin. Neither
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Pfizer wins fight for control of obesity drug developer
Pfizer has won a competitive bidding war over obesity treatments by finalising the US$10 billion (A$15.4 billion) acquisition of Metsera. The biopharmaceutical giant has entered into an amended merger agreement under which it pay up $86.25 per share for the biotechnology company, including $65.60 in cash and contingent value right to up to $20.65 per share in future cash payments. The deal marks the end of a fierce fight with Novo Nordisk to secure Metsera’s promising early-stage obesity treatments with the Danish weight-loss drug market leader, which makes Wegovy and Ozempic, pulling out of the context on Saturday. “The Metsera Board of Directors has determined that the revised terms represent the best transaction for shareholders, both from the perspective of value and certainty of closing,” Metsera said in a news release. Metsera also disclosed the U.S. Federal Trade commission (FTC) had contacted the company regarding potential antitrust concerns with the Novo Nordisk offer. “In light of recent developments, including the FTC’s communication, the Board concluded that Pfizer’s proposal represents the most prudent and certain path forward for our investors,” the target company said. Metsera said the merger with