Hikma Pharmaceuticals PLC (LSE:HIK, OTC:HKMPF) was the biggest faller on the FTSE 100 on Thursday morning after the drugmaker's interim results showed a 7% fall in core operating profit.
However, the decline in profits was not as bad as analysts expected and reflected product mix and foreign exchange impacts.
Citi has stuck with its ‘buy’ call on Smith & Nephew PLC (LSE:SN) after the company delivered quarterly results that were, in Citi’s words, “meaningfully better than expected”, and announced a $500mn share buyback that caught many by surprise.
In its latest note, it highlighted that Smith & Nephew’s organic growth for the second quarter came in “200–250 basis points above Visible Alpha consensus" and its own forecasts, driven by strong performances across the board.
After a brutal 52% slide this year (not helped by a surprise profit warning last week), Novo Nordisk (NYSE:NVO) is struggling to regain its footing.
Wednesday’s second-quarter results confirmed the picture: rising competition in the weight-loss market is hitting margins, with Eli Lilly’s Mounjaro and cheaper compounded copycats in the US putting the squeeze on Wegovy and Ozempic sales.
Shares in Faron Pharmaceuticals Limited (AIM:FARN) jumped 19% on Wednesday after the company reported improved results from its mid-stage cancer trial, with a growing number of patients achieving full remission from high-risk myelodysplastic syndrome (HR-MDS).
The latest data from Faron’s ongoing BEXMAB study showed that 43% of newly diagnosed HR-MDS patients receiving a combination of its experimental drug, bexmarilimab, and the chemotherapy azacitidine had achieved complete remission.
Linda Yaccarino, former CEO of Elon Musk’s social media platform X (formerly Twitter), has been appointed chief executive of eMed, a Miami-based telehealth company focused on weight loss treatments.
eMed, originally launched in 2020 as a provider of Covid tests, now dispenses GLP-1 drugs such as Ozempic and Wegovy.
After last week’s profit warning and leadership shake-up, Novo Nordisk's (NYSE:NVO) latest earnings update offered little new, though the company’s growing struggle against rivals such as Eli Lilly and cheaper weight-loss drug alternatives in the US continues to loom large.
The Danish group, known for its blockbuster obesity treatment Wegovy, confirmed it would tighten its commercial operations and rein in spending following a turbulent week that saw it slash its 2025 outlook and announce a change at the top.
ImmuPharma PLC (AIM:IMM) said it is in active discussions with potential global partners as it advances its P140 drug platform, following new preclinical data that supports the compound’s unique approach to treating autoimmune diseases.
The company, which specialises in drug discovery and development, said the recent research had reinforced confidence in the mechanism of action behind P140, a compound it believes could form the basis for a new standard of care in autoimmune conditions.
Incanthera PLC (AQSE:INC) will launch its new premium skincare range, Skin + CELL, on 11 August, marking the company’s first direct-to-consumer offering in the personal care space.
The London-listed company, which develops technologies in dermatology and oncology, said the range would initially include facial skincare, body and hand products, a face serum and an eye cream.
Faron Pharmaceuticals Limited (AIM:FARN) has reported a sharp rise in the number of patients with a high-risk blood disorder achieving full remission following treatment with its experimental drug, bexmarilimab, in combination with standard therapy.
The Finnish drug developer said complete remission, defined as the return of normal blood and bone marrow function, had increased to 43% in newly diagnosed patients with high-risk myelodysplastic syndrome (HR-MDS), up from 28% in earlier data.
Smith & Nephew PLC (LSE:SN) shares surged 14% after the company reported robust revenue and profit growth, and announced a $500 million share buyback to be launched in the second half of the year.
The medical technology group’s second-quarter revenue climbed 7.8% year-on-year to $1.55 billion, with all business units and regions outperforming the first quarter.
Pfizer Inc (NYSE:PFE, ETR:PFE) raised its full-year profit outlook on Tuesday after posting better-than-expected second-quarter earnings, driven by strong sales of key drugs including Comirnaty and Paxlovid.
The drugmaker reported adjusted earnings of $0.78 per share, beating analysts’ average estimate of $0.58, according to LSEG data.
UBS has lowered its rating on Novo Nordisk (NYSE:NVO) from 'buy' to 'neutral', slashing the price target to DKK340 from DKK600.
The downgrade comes after what UBS described as “challenging times” for the Danish pharmaceutical group, citing a sharp slowdown in growth for its flagship GLP-1 medicines, intensifying competition from Eli Lilly, and persistent pricing pressures.
EMV Capital (AIM:EMVC) portfolio company Wanda Health has raised £1.9 million in a funding round.
Proceeds are earmarked to speed up Wanda’s US expansion following strong commercial progress and advances toward FDA approval.
Oxford Nanopore Technologies PLC (LSE:ONT) shares jumped after Citi hiked its estimates and share price target after strong interim results last month from the DNA and RNA testing group.
The US bank reiterated its 'buy' rating and upped its price target to 240p from 180p.
Smith & Nephew PLC (LSE:SN) maintained full-year guidance after reporting robust revenue growth and rising profitability on Tuesday.
The FTSE 100-listed medical technology group also announced a $500 million share buyback to be launched in the second half of the year, underlining its cash generation and a healthy balance sheet.
Shares in Creo Medical Group PLC (AIM:CREO) rose 8% after the company published a powerful patient testimonial showcasing the real-world benefits of its Speedboat technology.
The video highlights the story of Liz Thomas, wife of a former Creo engineer, who was able to avoid major bowel surgery thanks to a minimally invasive Speedboat procedure.