Health News Roundup: US FDA says 561 deaths related to Philips machines since 2021;

The health regulator added that in 2023, between July and September, it received more than 7,000 medical device reports, including 111 reports of deaths related to the use of these machines. Thermo Fisher forecasts 2024 below estimates, cautious on biotech demand Thermo Fisher Scientific on Wednesday forecast annual profit and revenue below Wall Street estimates, signaling that a slump in demand for its services used to make therapies and vaccines will extend at least into the first half of the year.

Following is a summary of current health news briefs.

Align Technology shares jump after upbeat first-quarter revenue forecast

Align Technology forecast first-quarter revenue above Wall Street estimates on Wednesday, aided by increased demand for its clear teeth aligners, sending its shares up 10% in extended trading. The dental products manufacturer expects first-quarter revenue to be between $960 million and $980 million, compared with analysts' average estimate of $946.9 million, according to LSEG data.

US FDA says 561 deaths related to Philips machines since 2021

The U.S. Food and Drug Administration said on Wednesday there have been 561 deaths reported since 2021 related to the use of Philips' recalled ventilators and machines for treating obstructive sleep apnea. The health regulator added that in 2023, between July and September, it received more than 7,000 medical device reports, including 111 reports of deaths related to the use of these machines.

Thermo Fisher forecasts 2024 below estimates, cautious on biotech demand

Thermo Fisher Scientific on Wednesday forecast annual profit and revenue below Wall Street estimates, signaling that a slump in demand for its services used to make therapies and vaccines will extend at least into the first half of the year. The medical equipment maker also said it does not expect demand in its key market, China, to improve this year. Thermo's shares fell nearly 4%, dragging down peers Danaher and Agilent Technologies more than 1%.

US FDA warns consumers over copycats of Bausch + Lomb eye drops

The U.S. Food and Drug Administration (FDA) on Wednesday warned consumers not to use unapproved eye drops that closely resemble Bausch + Lomb's Lumify product for redness relief. The copycat products, called South Moon, Rebright and FivFivGo, could be easily mistaken for Lumify, the FDA said.

Biogen drops Alzheimer's drug Aduhelm, ending a 17-year chapter

Biogen will end a post-approval study of Alzheimer's treatment Aduhelm and return the licensing rights on the drug after failing to find a partner to mitigate costs of obtaining standard regulatory approval. The drugmaker said on Wednesday it was concerned that by the time Aduhelm received a standard approval, new medicines would have advanced to the market.

Analysis-As Roundup verdicts pile up, Bayer bets big on US appeals courts

Despite more than $4 billion in U.S. jury verdicts over Bayer's Roundup weedkiller, including a $2.25 billion verdict last week, the company so far has shown no willingness to settle, instead betting that it can greatly reduce, or wipe out, its liability through legal appeals. The strategy means the German pharmaceutical and biotechnology company could face further trials and hefty verdicts for years to come as its appeals work their way through U.S. courts. At least 10 trials are expected this year in state courts around the United States, and close to 50,000 Roundup lawsuits are currently pending.

US proposes reimbursement rate for Medicare Advantage 2025 payments

The U.S. government on Wednesday proposed a 2025 reimbursement rate for Medicare Advantage plans run by private insurers that reflects an effective growth rate of 2.44% and a total increase of 3.7%. The closely watched proposal, known as the "advance notice", will be used by companies such as UnitedHealth Group and Humana to bid this year for contracts for Medicare Advantage plans they will sell in 2025.

Abbott launches protein shake brand to help people on weight-loss drug

Abbott Laboratories said on Wednesday it has launched a new protein shake that would help adults looking to lose weight and maintain their muscle mass. The healthcare company said the protein shake is first among the range of products lined up to be launched under its new brand, called Protality.

As Lilly rivalry flares, Novo CEO sets out Wegovy launch strategy

Novo Nordisk will target launches of its popular obesity shot Wegovy in markets where it already has strong sales of its older weight-loss drug Saxenda, CEO Lars Fruergaard Jorgensen said, as it faces growing competition from U.S. rival Eli Lilly.

Novo and Lilly's drugs are the most effective treatments for weight loss approved to date. Lilly's presence in the sector has strengthened after it won approval in November in Britain, the European Union and the U.S. for its powerful obesity drug Zepbound.

US says fentanyl talks with China 'meaningful' but more needs to be done-official

Talks between the U.S. and Chinese officials on stemming the flow of chemicals used for the production of deadly fentanyl have been "substantive" but "much more" needs to be done, the head of the White House delegation to Beijing said on Wednesday.

Washington hopes for deeper law enforcement cooperation, including on tackling illicit finance, and wants Beijing to put further controls on the chemicals that can be used to make fentanyl, said Deputy Assistant to the President and Deputy Homeland Security Advisor Jen Daskal.