Health News Roundup: Sanofi Q4 earnings hit by weak dollar, generic competition; GSK settles another Zantac lawsuit in California and more

The French drugmaker said on Thursday operating income, adjusted for one-offs, slipped 5.2% to 2.58 billion euros ($2.79 billion), falling short of the 2.77 billion euros expected on average by analysts in a poll on the company's website. Growing cancer burden masks inequity among rich and poor nations- WHO There were an estimated 20 million cancer cases and 9.7 million cancer deaths in 2022, the World Health Organization’s cancer research agency said on Thursday, a growing burden that masks what it calls "striking inequity" among rich and poor countries.

Following is a summary of current health news briefs.

Roche shares fall on modest 2024 outlook

Roche shares fell more than 4% on Thursday as the market expressed disappointed with the company's more modest than expected 2024 outlook. The Swiss drugs and diagnostic maker said on Thursday that group sales, which include diagnostics, would grow by a mid-single digit percentage, when adjusted for currency swings. But analysts said consensus forecasts were well above this, meaning investor expectations will have to come down.

Ad firm Publicis, drugmaker Hikma settle US opioid cases for $500 million

A division of French advertising company Publicis Groupe SA and drug company Hikma Pharmaceuticals have reached separate settlements worth a collective $500 million to resolve claims that they helped fuel the deadly U.S. opioid epidemic. The settlements announced by U.S. state attorneys general on Thursday add to the more than $50 billion that drug manufacturers, distributors, pharmacy operators and consultants have agreed to pay to resolve lawsuits and investigations over their roles in the drug addiction crisis.

Sanofi Q4 earnings hit by weak dollar, generic competition

Sanofi's fourth-quarter operating income fell 5% as a weaker U.S. dollar and cheap competition to multiple sclerosis drug Aubagio outweighed rising sales of anti-inflammatory drug Dupixent. The French drugmaker said on Thursday operating income, adjusted for one-offs, slipped 5.2% to 2.58 billion euros ($2.79 billion), falling short of the 2.77 billion euros expected on average by analysts in a poll on the company's website.

Growing cancer burden masks inequity among rich and poor nations- WHO

There were an estimated 20 million cancer cases and 9.7 million cancer deaths in 2022, the World Health Organization's cancer research agency said on Thursday, a growing burden that masks what it calls "striking inequity" among rich and poor countries. Around one in five people develop cancer in their lifetimes, the International Agency for Research on Cancer (IARC) said in a statement, and one in nine men and one in 12 women die from the disease.

Biogen drops Alzheimer's drug Aduhelm, ending a 17-year chapter

Biogen will end a post-approval study of Alzheimer's treatment Aduhelm and return the licensing rights on the drug after failing to find a partner to mitigate costs of obtaining standard regulatory approval. The drugmaker said on Wednesday it was concerned that by the time Aduhelm received a standard approval, new medicines would have advanced to the market.

Merck seeks more deals to prepare for Keytruda's revenue decline

Merck & Co on Thursday said it was in the market for deals of up to around $15 billion as it plans for a loss of revenue from its aging cancer immunotherapy Keytruda, the world's top-selling prescription medicine. The drugmaker, which also reported better-than-expected fourth-quarter results on strong Keytruda sales, has already inked multiple deals over the last year, including a $5.5 billion payout to Japan's Daiichi Sankyo for the right to co-develop three antibody drug conjugate cancer drugs.

Cardinal Health lowers medical unit profit forecast, shares fall

Cardinal Health lowered the full-year profit forecast for its medical segment on Thursday, taking the shine off the company's upbeat second-quarter results and sending its shares down more than 5%. The medical unit, through which Cardinal Health makes and distributes company-branded medical, surgical and laboratory products, has been struggling with rising transportation and labor costs as well as global supply chain constraints.

Neuralink rival Synchron takes stake in medical component maker Acquandas

Neuralink rival Synchron said on Thursday it has acquired an equity stake in medical component maker Acquandas, as it looks to improve manufacturing operations of its brain implant. New-York based Synchron is farther along in the process of developing a brain implant than Elon Musk's Neuralink. On Monday, Musk said the first human patient had received an implant from Neuralink.

US government sends initial offers for Medicare drug price cuts

The Biden administration is sending drugmakers opening offers for the U.S. Medicare program's first ever price negotiations on Thursday, the White House said in a statement.

President Joe Biden's signature Inflation Reduction Act (IRA) allows Medicare, which covers 66 million Americans mostly aged 65 and older, to negotiate prices for some of its most costly drugs.

GSK settles another Zantac lawsuit in California

GSK said on Thursday it had agreed to settle another lawsuit in California that alleged its discontinued heartburn drug Zantac caused cancer, the latest in a series of settlements to end costly litigation. The case was set to go to trial on Feb. 20 and instead, will now be dismissed, the British drugmaker said in a statement.