Health News Roundup: British PM Sunak says he has failed on key healthcare pledge; Merck to buy Elanco's aqua health business for $1.3 billion and more

The stock hit an over two-year high of $35.61 after the company released interim data on Saturday from the trial that tested the gene therapy, 4D-150, in patients with wet age-related macular degeneration (AMD), a leading cause of vision loss among older adults. Exclusive-Novartis in the lead to acquire cancer drug developer MorphoSys-sources Drug maker Novartis AG is in advanced talks to acquire MorphoSys AG, a developer of cancer treatments that has a market value of 1.6 billion euros ($1.7 billion), two people familiar with the matter said on Monday.

Following is a summary of current health news briefs.

Genetic test maker Invitae prepares for bankruptcy - WSJ

Genetic test maker Invitae is preparing to file for bankruptcy within weeks, the Wall Street Journal reported onMonday, according to people familiar with the matter. Shares of the San Francisco-based company tumbled 69% to hit a record low of 11 cents after the report. An Invitae spokesperson told Reuters that the company did not comment on market rumors and speculation and said the Board of Directors had formed a special committee in November to improve its capital structure. The Softbank-backed company is working with FTI Consulting and law firm Kirkland & Ellis to explore strategic options, including bankruptcy, to address $1.5 billion of debt on its balance sheet, according to the report.In a regulatory filing in November, the company had flagged concerns about its ability to stay afloat. Invitae said it needed to secure additional funding to support ongoing operations or to address its debt obligations. The company provides genetic testing services for various diseases and cancers in and outside the United States.

4D Molecular soars as mid-stage data for eye disease therapy 'checks all boxes'

Shares of 4D Molecular Therapeutics more than doubled on Monday after the therapy developer reported results from a mid-stage trial of its eye disease therapy. The stock hit an over two-year high of $35.61 after the company released interim data on Saturday from the trial that tested the gene therapy, 4D-150, in patients with wet age-related macular degeneration (AMD), a leading cause of vision loss among older adults.

Exclusive-Novartis in the lead to acquire cancer drug developer MorphoSys-sources

Drug maker Novartis AG is in advanced talks to acquire MorphoSys AG, a developer of cancer treatments that has a market value of 1.6 billion euros ($1.7 billion), two people familiar with the matter said on Monday. Novartis has so far prevailed over rival drug maker Incyte Corp, which also made an offer for MorphoSys, the sources said.

J&J's immune disorder drug succeeds in mid and late-stage studies

Johnson & Johnson's experimental drug to treat two autoimmune disorders helped relieve symptoms when tested in adult patients in mid-stage and late-stage trials, the company said on Monday. The drug, nipocalimab, significantly reduced symptoms of generalized myasthenia gravis (gMG) in a late-stage study, and in a mid-stage study helped reduce Sjögren's disease severity, J&J said.

US appeals court finds Bayer not shielded from Roundup lawsuit

A U.S. appeals court on Monday refused to dismiss a Georgia doctor's lawsuit claiming that Bayer AG's Roundup weedkiller caused cancer, the latest setback in the German company's efforts to fend off thousands of similar cases carrying potentially billions of dollars in liability. A three-judge panel of the Atlanta-based 11th U.S. Circuit Court of Appeals rejected Bayer's argument that federal regulators' approval of Roundup shielded the company from being sued under state law for failing to warn consumers of the product's risks. Several other appeals courts had previously reached the same conclusion in similar lawsuits.

British PM Sunak says he has failed on key healthcare pledge

British Prime Minister Rishi Sunak said his government had not done enough to cut the high number of people waiting for hospital treatment in the health service, admitting failure on one of his signature pledges in the run-up to an election. Sunak set out five major policy pledges at the start of 2023, including one to cut waiting lists in the strained, state-run National Health Service (NHS), a top concern for a majority of voters.

Merck to buy Elanco's aqua health business for $1.3 billion

Merck said on Monday would buy Elanco Animal Health's aqua business for $1.3 billion in cash, strengthening its portfolio of aquatic pet health products. Share of Elanco rose more than 7% to $15.8 in premarket.

Promising early data details on Amgen weight-loss drug published

Animal and early-stage human trial data for Amgen's experimental obesity drug published in a medical journal showed that it promoted significant weight loss with an acceptable safety profile, the company said on Monday. The dataset published in Nature Metabolism details outcomes and adverse events for the 49 patients in the Phase 1 trial of the drug, maridebart cafraglutide. Trial participants received different doses of the drug ranging from 21 milligrams to 840 mg. Patients in the study were obese, but did not have other underlying health conditions such as diabetes.

Novo Nordisk's parent to buy Catalent for $16.5 billion to boost Wegovy supply

Novo Nordisk notched a win on Monday in its race to boost output of its popular obesity drug Wegovy, with its parent company announcing it was buying Catalent, a key manufacturing subcontractor of the product, for $16.5 billion. Kasim Kutay, CEO of Novo Holdings, told Reuters the deal is core to his company's strategy to support Novo Nordisk and enable the drugmaker to expand fill-finish capacity to meet soaring demand for Wegovy.

FDA website shows limited availability of some doses of Lilly's Mounjaro

The U.S. Food and Drug Administration's (FDA) website showed that three higher doses of Eli Lilly's diabetes drug, Mounjaro, would be available only in limited amounts through early March 2024, due to increased demand. According to the health regulator's website, 10, 12.5 and 15 milligram doses of the injection will have limited availability, while lower doses of Mounjaro were shown to be available.

(With inputs from agencies.)