Health News Roundup: BioNTech cuts 2023 revenue target on reduced prospects for vaccine; Cigna explores shedding Medicare Advantage business -sources 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.

England's young cystic fibrosis patients face new treatment worry

Young English sufferers of cystic fibrosis (CF) face new uncertainty after regulators published proposals which, if enacted, would restrict access to potentially life-changing treatments on cost grounds. The National Institute for Health and Care Excellence (NICE) on Friday published draft guidance that it would not recommend three treatments known as modulator therapies, manufactured by Vertex Pharmaceuticals for use on new patients.

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.

Swiss-designed technology helps Parkinson's patient walk again

A long-term Parkinson's disease patient, Marc Gauthier had essentially been confined to his home until he became the first person to receive a new Swiss-designed implant that dramatically improved his ability to walk. Gauthier, 63, received a neuroprosthetic at Lausanne University Hospital (CHUV), comprising an electrode field placed against his spinal cord. Combined with an electrical impulse generator under the skin of his abdomen, the device stimulates his spinal cord to activate his leg muscles.

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.

Cigna explores shedding Medicare Advantage business -sources

U.S. health insurer Cigna Group is exploring the sale of its Medicare Advantage business, which manages government health insurance for people aged 65 and older, a move that would mark a reversal of its expansion in the sector, according to people familiar with the matter. Cigna, which got into the Medicare Advantage business with its $3.8 billion acquisition of HealthSpring in 2011, would be backing away at a time the U.S. government is tightening its purse strings in reimbursing health insurers for their services, should it go through with the move.

US CDC to expand surveillance of traveler samples for respiratory viruses

The U.S. Centers for Disease Control and Prevention (CDC) said on Monday it was expanding testing of samples collected from international air travelers beyond COVID-19, to include flu and respiratory synctial virus (RSV) beginning November. The agency's traveler-based genomic surveillance program, or TGS, began in 2021 to help with early detection of new SARS-CoV-2 variants. CDC conducts voluntary nasal swabbing and airport wastewater sampling as part of it.

(With inputs from agencies.)