EU Court Criticizes Commission Over COVID Vaccine Transparency; Mark Cuban's Cost Plus Fights US Penicillin Shortage

The European Union's second-highest court has rebuked the European Commission for insufficient transparency in its handling of COVID-19 vaccine contracts, spotlighting the communications between Commission head Ursula von der Leyen and Pfizer's CEO.

Meanwhile, Mark Cuban's Cost Plus Drug Company announced a collaboration with the FDA to temporarily import 1.2 million units of penicillin to mitigate a significant U.S. shortage.

In other pharmaceutical developments, Ardelyx filed a lawsuit against the U.S. Department of Health and Human Services over its kidney disease drug's inclusion in the Medicare payment bundle, potentially hindering patient access.

Roche's experimental drug for obesity yielded positive early trial results, and Johnson & Johnson's robust drug sales surpassed Wall Street estimates. Bayer's prostate cancer drug Nubeqa has shown promise in recent trials as well.

On the IPO front, healthcare provider Ardent Health priced its IPO below the target range, raising $192 million. Novo Nordisk expressed disappointment over a Dutch agency's recommendation against insurance coverage for its weight-loss drug Wegovy.

In a scientific breakthrough, Japanese researchers at the University of Tokyo have developed living skin tissue for robot faces, allowing them to 'smile', with potential applications in cosmetics and medicine.

(With inputs from agencies.)