Major Moves in the Pharmaceutical World: Insolvency, Vaccines, and Mergers

The latest health news includes Carmat's insolvency filing and share suspension, Moderna's successful flu vaccine trial showing 26.6% more effectiveness, and Torrent Pharma's acquisition of JB Chemicals. The developments highlight significant shifts in the healthcare sector, impacting business operations and market dynamics globally.

In a surprising development in the healthcare domain, French prosthesis maker Carmat has filed for insolvency after unsuccessful attempts to secure emergency funding. Trading of Carmat shares has been halted, per the company's request awaiting the Versailles Economic Affairs Court's decision.

Meanwhile, in the biotechnology arena, Moderna announced promising results from a late-stage study of its experimental influenza vaccine. The new vaccine showcased 26.6% greater effectiveness compared to the currently approved flu shot, particularly in adults aged 50 and above, spiking almost 5% in premarket trading.

In India, Torrent Pharmaceuticals revealed plans to strengthen its position by acquiring a significant 46.39% stake in JB Chemicals. The deal, involving KKR, reflects a total equity valuation of 256.89 billion rupees ($3.01 billion) for JB Pharma, potentially reshaping the Indian pharmaceutical landscape.

(With inputs from agencies.)