FDA Says Eli Lilly's Zepbound Shortage Over, but Gives Compounders Grace Period
Bank of America Securities: Reiterates the "Buy" rating for INNOVENT BIO and HANSOH PHARMA, with the Target Price adjusted upward.
Bank of America Securities released a research report stating that INNOVENT BIO (01801) recently reached a commercialization agreement with Eli Lilly and Co (LLY.US) for the latter's non-covalent (reversible) BTK inhibitor "Jepali" in mainland China. After factoring in the sales forecast for this product, the company's revenue forecasts for 2025 and 2026 have been raised by 1.9% and 3.4% respectively. The Target Price has been increased from HKD 54.1 to HKD 56.4, reaffirming a "Buy" rating. The report also mentioned that HANSOH PHARMA (03692) previously entered into an agreement with Merck to grant a clinical pre-trial oral small molecule GLP-1 receptor agonist HS-105.
The Dow barely ended its longest continuous decline in 50 years, Micron fell by 16%, the US dollar reached a two-year high again, and US bonds, oil, and Bitcoin all dropped.
U.S. stock market's other Indexes turned down towards the end, Tesla rose by nearly 4% before closing down, NVIDIA reached a high of 4%, and Micron Technology had its steepest decline in five years. The yield on the 10-year U.S. Treasury bonds briefly increased by nearly 10 basis points approaching 4.60%, close to a seven-month high, while short-term bond yields fell, with the 2/10-year yield spread at its widest in two and a half years. The Bank of England held rates steady, but more officials supported a rate cut, leading to a decline in the British Pound. The Governor of the Bank of Japan suppressed interest rate hike expectations, causing the yen to fall towards 158, and the offshore renminbi briefly dropped below 7.32 yuan to its lowest in 15 months. Bitcoin fell by 5%, approaching $0.096 million. Spot Gold rose by 1.6% before narrowing back below $2,600, while the futures silver fell by 5%, and U.S. crude oil fell below $70.
Health Care Down on Backlash Fears -- Health Care Roundup
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Novo Is Ready to Ramp Up GLP-1 Manufacturing Following $11B Factory Deal -- Barrons.com
U.S. Healthcare Spending Climbs 7.5% in 2023
The FDA announced that Eli Lilly and Co's weight loss drug ingredients are no longer in short supply, and compound pharmacies will stop producing generic drugs.
The USA FDA announced that Eli Lilly and Co's weight loss drug Zepbound's active ingredient tirzepatide is no longer in shortage, and compounding pharmacies will no longer be allowed to produce unapproved generic drugs. The FDA requires these pharmacies to cease production of the generic versions within 60 to 90 days, with the transition period aimed at allowing patients to switch to the brand-name medication. After the announcement, the stock prices of both Eli Lilly and Co and Novo-Nordisk A/S narrowed their declines.
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FDA Says Shortage of Eli Lilly's Zepbound Is Over, but Gives Compounders a Grace Period -- Barrons.com
After more than two years, Eli Lilly and Co's weight loss drug Zepbound is finally no longer in short supply.
① The FDA announced that Eli Lilly and Co's weight loss drug Zepbound shortage issue has been resolved, impacting the multi-billion dollar compounded drug market, causing Hims & Hers Health's stock price to drop by over 10%; ② The FDA requires compound pharmacies to stop producing compounded versions of tirzepatide within 60 to 90 days, to allow patients to transition to FDA-approved brand medications.
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Eli Lilly's Zepbound, Mounjaro No Longer in Shortage, FDA Says
The Zepbound Shortage Is Officially Over, FDA Says -- Barrons.com
FDA Says Eli Lilly's Weight Loss Drug Zepbound Is No Longer in Shortage
Express News | FDA: As of Dec 19, Dulaglutide Injection, Semaglutide Injection & Liraglutide Injection Are in Shortage
Hims & Hers Health Falls as FDA Issues Unfavorable Compounded GLP-1 Decision
Express News | FDA: Does Not Intend to Take Action Against Compounders for Violations of FD&C Act Arising From Conditions That Depend on Tirzepatide Injection