Health News Roundup: India's Gland Pharma misses Q2 profit view on higher expenses; BioNTech cuts 2023 revenue target on reduced prospects for vaccine and more

The company, majority owned by China's Shanghai Fosun Pharmaceutical Group Co, said its consolidated net profit fell nearly 20% to 1.94 billion rupees ($23.3 million), falling short of analysts' average expectation of 2.13 billion rupees per LSEG data. BioNTech cuts 2023 revenue target on reduced prospects for vaccine BioNTech has cut its 2023 revenue target by about 1 billion euros ($1.1 billion) on lower demand for the COVID-19 vaccine made with Pfizer but said the impact from write-downs at its U.S. partner was less then initially thought.

Following is a summary of current health news briefs.

India's Gland Pharma misses Q2 profit view on higher expenses

Indian generic injectables maker Gland Pharma posted a weaker-than-expected second-quarter profit on Monday, as higher employee expenses eclipsed strong sales in key markets. The company, majority owned by China's Shanghai Fosun Pharmaceutical Group Co, said its consolidated net profit fell nearly 20% to 1.94 billion rupees ($23.3 million), falling short of analysts' average expectation of 2.13 billion rupees per LSEG data.

BioNTech cuts 2023 revenue target on reduced prospects for vaccine

BioNTech has cut its 2023 revenue target by about 1 billion euros ($1.1 billion) on lower demand for the COVID-19 vaccine made with Pfizer but said the impact from write-downs at its U.S. partner was less then initially thought. In a statement on Monday, the German biotech company cut its outlook for full-year COVID-19 vaccine revenues to about 4 billion euros from 5 billion previously expected and the 17.2 billion reported last year.

India's Max Healthcare Institute reports 38% rise in Q2 pre-tax profit

India's Max Healthcare Institute on Monday reported a 38% rise in its second-quarter profit before tax, as it earned more revenue per bed. The hospital and diagnostic services provider's consolidated profit before tax for the quarter ended Sept. 30 stood at 3.66 billion rupees ($43.99 million) compared with 2.65 billion rupees a year ago.

EU proposal may accelerate pharma innovation decline, industry group says

A major pharmaceutical rules overhaul, proposed by the European Commission in April, could see Europe's share in global research and development contract by a third to 21% by 2040 translating to 2 billion euros ($2.15 billion) per year in lost investment, industry group EFPIA said on Monday. The European Federation of Pharmaceutical Industries and Associations (EFPIA) says the Commission has not conducted a competitiveness impact assessment and if the new rules become law, they would accelerate the negative innovation trend in the EU and hit small and medium-sized enterprises the hardest.

Bristol Myers buys Orum's blood cancer therapy for up to $180 million

Bristol Myers Squibb has acquired Orum Therapeutics' experimental therapy to treat a type of blood cancer for a total value of up to $180 million, the privately held company said on Monday. The therapy, ORM-6151, which helps degrade a specific protein hard to treat previously, has received the U.S. Food and Drug Administration's (FDA) clearance for an early stage study.

Rugby-World Rugby welcomes largest ever head impact study in community game

World Rugby chief Bill Beaumont has welcomed the largest ever study of the impact of collisions on the heads of players as proof that the game is serious about becoming a global leader in athlete welfare. The study used smart mouthguard technology, which will be obligatory in training and matches in elite rugby from next year, to measure 17,000 head acceleration events in 328 male players from under 12s to top grade community rugby.

US CDC to expand surveillance of travelers for respiratory viruses

The U.S. Centers for Disease Control and Prevention (CDC) will expand its traveler-based surveillance program to include testing for respiratory viruses, partners Ginkgo Bioworks and XWELL said on Monday. The expansion, to be launched at four of the seven participating airports, comes ahead of the fall and winter months in the United States when viruses that cause respiratory diseases such as influenza and respiratory synctial virus (RSV)usually circulate more heavily.