Health News Roundup: FDA puts on hold two drug trials of Rapt Therapeutics in 'major setback'; Medtronic lifts annual profit forecast, exits ventilator business and more

There has been speculation that Israel-based Teva - the world's largest generic drug maker - would split into two companies handling both the increasingly competitive generics business and its own branded drugs. More than half the world faces high measles risk, WHO says More than half the world's countries will be at high or very high risk of measles outbreaks by the end of the year unless urgent preventative measures are taken, the World Health Organization warned on Tuesday.

Following is a summary of current health news briefs.

Medtronic lifts annual profit forecast, exits ventilator business

Medical device maker Medtronic raised annual profit forecast for the third time this fiscal year, after beating third-quarter expectations on Tuesday, helped by higher demand for its heart and diabetes devices. Demand for medical devices has picked up pace as non-urgent procedures, which were deferred during the pandemic, recovered in the past year with easing hospital staff shortages and people becoming regular with check-ups.

Fentanyl use spreads deeper into Mexico, on heels of US epidemic

The teenager who arrived at Jose de Jesus Lopez's drug rehab clinic in the industrial Mexican city of Monterrey in December had unusual symptoms. The 17-year-old's family had taken the boy to hospital a few days earlier when he'd had trouble breathing and then passed out after supposedly consuming cocaine, the director said. Now he was sweaty and nauseous. He'd been vomiting and couldn't sleep.

FDA puts on hold two drug trials of Rapt Therapeutics in 'major setback'

Rapt Therapeutics said on Tuesday the U.S. FDA had placed on hold two mid-stage trials of the company's drug to treat eczema and asthma, after liver failure was observed in one of the patients. Shares of the San Francisco-based company hit a record low of $8.5 in early trade.

FMC shares slide as analysts focus on weaker patient volumes outlook

Fresenius Medical Care's shares fell 5% on Tuesday, despite upbeat quarterly results and higher 2024 guidance, with analysts highlighting a weak outlook for patient volumes from the German dialysis specialist. U.S. competitor Da Vita last Tuesday forecast a 2024 outlook above expectations, forecasting patient volumes would increase by 1% to 2% during the year, while FMC targeted growth of 0.5% to 2%, analysts at Barclays said.

Teva Pharm to stay as unified drugmaker, sees big interest in API business, says CEO

Teva Pharmaceutical Industries will remain a single company for generic and branded drugs, and expects to see significant interest in its active pharmaceutical ingredients business that it plans to divest, its head said on Tuesday. There has been speculation that Israel-based Teva - the world's largest generic drug maker - would split into two companies handling both the increasingly competitive generics business and its own branded drugs.

More than half the world faces high measles risk, WHO says

More than half the world's countries will be at high or very high risk of measles outbreaks by the end of the year unless urgent preventative measures are taken, the World Health Organization warned on Tuesday. Measles cases have been increasing across most regions mainly due to missed vaccinations during the COVID-19 years when health systems were overwhelmed and fell behind on routine vaccinations for preventable diseases.

Neuralink's first human patient able to control mouse through thinking, Musk says

The first human patient implanted with a brain-chip from Neuralink appears to have fully recovered and is able to control a computer mouse using their thoughts, the startup's founder Elon Musk said late on Monday. "Progress is good, and the patient seems to have made a full recovery, with no ill effects that we are aware of. Patient is able to move a mouse around the screen by just thinking," Musk said in a Spaces event on social media platform X.

Gotham maintains questions over Grifols' accounts, shares fall

Short-seller fund Gotham City Research on Tuesday issued a second report on Grifols, maintaining some of its questions over the Spanish pharmaceutical company's accounting practices, dragging its shares down. Gotham City's new report focuses on the links between Grifols and Scranton Enterprises NV, an investment vehicle partly linked with the Grifols' founding family.

AbbVie taps Robert Michael to replace Gonzalez as CEO in July

AbbVie on Tuesday said Chief Operating Officer Robert Michael would succeed Richard Gonzalez to become the second-ever CEO of the drugmaker on July 1. Gonzalez, 70, who has been at the company's helm since it was formed through a spin-off from Abbott in 2013, will become executive chairman of AbbVie's board once he steps down.

Sanofi's consumer healthcare spin-off attracts private equity interest, sources say

Drugmaker Sanofi's consumer healthcare division has attracted interest from private equity funds as the French group prepares to spin out the business, two sources close to the matter told Reuters. Buyout groups including Blackstone and CVC are considering making offers for the division, the sources said, speaking on condition of anonymity.

(With inputs from agencies.)