Health News Roundup: BAT, Philip Morris settle patent disputes over heated tobacco, vapes; BAT, Philip Morris settle patent disputes over heated tobacco, vapes and more

But Musk's statements on his social media platform X raised more questions than they answered about the trial for a risky device that the tech billionaire says could one day help the paralyzed walk, four experts in the brain implant field told Reuters. Cigna leans on commercial business, pharmacy benefits after Medicare sale Cigna said on Friday it expects higher pricing for some commercial health insurance plans and strength in its pharmacy benefit management (PBM) business from biosimilar and weight loss drugs, to help drive growth this year.

Following is a summary of current health news briefs.

BAT, Philip Morris settle patent disputes over heated tobacco, vapes

Tobacco giants Philip Morris International and British American Tobacco said on Friday they had agreed to resolve a multitude of ongoing patent infringement disputes relating to their cigarette alternatives. The cigarette makers had been fighting a multi-front patent dispute that has hurt both sides.

Fractyl Health valued at $654.6 million in tepid debut

Shares of Fractyl Health fell 8.3% on their market debut on Friday, giving the obesity and diabetes drug developer a market capitalization of $654.6 million. After a two-year lull, initial public offerings in the U.S. are expected to rebound in 2024 on firming bets of a soft landing for the world's largest economy. Investor reception to fresh stocks, however, has been uneven.

Abbott Labs must face lawsuit over PediaSure height claims

A judge has rejected Abbott Laboratories' effort to dismiss a New York City grandmother's lawsuit claiming it misled consumers into believing its PediaSure Grow & Gain nutrition drinks were "clinically proven" to help children grow taller. U.S. District Judge Paul Engelmayer in Manhattan said on Friday that Joanne Noriega's complaint set forth "strong, evidence-backed reasons" to doubt Abbott's claim that clinical studies supported its marketing claims.

Doctor who prescribed more than 500,000 opioid doses has conviction tossed

A Virginia doctor who prescribed more than 500,000 opioid doses in less than two years had his conviction and 40-year prison sentence thrown out by a federal appeals court on Friday, because the jury instructions misstated the law. The 4th U.S. Circuit Court of Appeals in Richmond, Virginia also ordered a new trial for Joel Smithers, 41, who has been serving his sentence in an Atlanta prison.

Want details on Elon Musk's brain implant trial? You'll have to ask him

Elon Musk's announcement this week that his startup Neuralink had implanted the first human patient with its experimental brain device generated immediate buzz. But Musk's statements on his social media platform X raised more questions than they answered about the trial for a risky device that the tech billionaire says could one day help the paralyzed walk, four experts in the brain implant field told Reuters.

Cigna leans on commercial business, pharmacy benefits after Medicare sale

Cigna said on Friday it expects higher pricing for some commercial health insurance plans and strength in its pharmacy benefit management (PBM) business from biosimilar and weight loss drugs, to help drive growth this year. Shares of the company rose 6.3% after Cigna raised its 2024 profit forecast, just two days after agreeing to sell its Medicare business, which catered to adults aged 65 and above, to Health Care Service for $3.3 billion.

Bristol Myers CEO sees mid-decade transition, late decade growth

Bristol Myers Squibb's new chief executive said on Friday that the company was focused on driving growth toward the end of the decade but would first need to weather a difficult transition period beginning in 2026. Bristol shares were up about half a percent in early trading.

AbbVie raises 2027 sales forecast for new immunology drugs to $27 billion

AbbVie on Friday raised its 2027 forecast for sales of its immunology drugs Skyrizi and Rinvoq to $27 billion, up $6 billion from its previous prediction. The Chicago-based drugmaker has been counting on revenues from its newer immunology medicines to help make up for declining sales of blockbuster arthritis drug Humira.

US judge won't shield Yelp from Texas lawsuit over crisis pregnancy center notices

A California federal judge has refused to shield Yelp from a lawsuit by the state of Texas accusing it of posting misleading notices about crisis pregnancy centers on its online review site. U.S. District Judge Trina Thompson in Oakland, California, ruled Thursday that federal courts cannot interfere with state actions enforcing their laws unless they are brought in bad faith. She said that required her to dismiss a preemptive lawsuit Yelp had filed against Republican Texas Attorney General Ken Paxton last September in an effort to stop him from suing the San Francisco-based company for posting notices warning users that the centers provided limited medical services.

Swiss hospitality school closes after measles outbreak

Switzerland's famed hospitality management school, Ecole Hotelier de Lausanne (EHL), closed its campus in Lausanne on Saturday after cases of measles were discovered among students. "We have been compelled to close the Lausanne campus from Feb. 3 to Feb. 18 inclusive," the school said in a statement posted to its website.