By Bhanvi Satija and Patrick Wingrove (Reuters) -Eli Lilly’s stock tumbled 8% on Tuesday after it forecast fourth-quarter sales of weight-loss drug Zepbound below Wall Street estimates, marking the second time sales have disappointed since the drug’s launch in late 2023. The company’s shares were trading at $739.23, on track for their worst single-day decline…
By Ahmed Aboulenein and Amina Niasse WASHINGTON (Reuters) -The nation’s three largest pharmacy benefit managers have significantly marked up the prices of certain medicines, including for heart disease, cancer and HIV, at their affiliated pharmacies, the U.S. Federal Trade Commission said on Tuesday. From 2017 to 2022, the companies — UnitedHealth Group’s Optum, CVS Health’s…
(Reuters) – Generative artificial intelligence bellwether OpenAI said on Tuesday that it is introducing a beta feature called Tasks to ChatGPT, signaling the company’s foray into the virtual assistant space, competing with Apple’s Siri and Amazon’s Alexa. Tasks will enable ChatGPT users to request tasks to be performed at a future time, including one-time reminders…
By Jarrett Renshaw WASHINGTON (Reuters) -Tech CEOs Elon Musk, Jeff Bezos and Mark Zuckerberg will attend U.S. President-elect Donald Trump’s inauguration on Monday, according to a source familiar with planning for the event. The chief executives of Tesla, Amazon and Meta will be featured prominently at Trump’s swearing in, sitting with the Republican’s Cabinet nominees…
(Reuters) -Eli Lilly said on Monday it plans to buy Scorpion Therapeutics’ experimental cancer therapy for up to $2.5 billion in cash to expand its pipeline of cancer treatments. The company will acquire Scorpion’s experimental oral therapy, STX-478, which is currently being tested in early-stage trials for breast cancer and other advanced solid tumors. The…
(Reuters) – The European Union is considering expanding its investigation into whether Elon Musk’s social media network X breached its content moderation rulebook, Bloomberg News reported on Monday, citing the bloc’s tech policy chief. The EU started investigating X, formerly Twitter, in late 2023 over suspected breaches of obligations, partly relating to posts following Hamas’…
(Reuters) -U.S. drugmaker Pfizer is going “all in” to develop its experimental obesity drug and has been recruiting more experts in that area, Chief Executive Officer Albert Bourla said at the JPMorgan Healthcare Conference on Monday. Bourla said the experts were helping Pfizer “make better and more sound decisions,” and the company could start a…
(Reuters) -JPMorgan Chase and Bank of America are preparing to ease mortgage repayment conditions for customers affected by the Los Angeles wildfires, as residents grapple with one of the most destructive natural disasters in the city’s history. Chase Home Lending is providing disaster forbearance for mortgage customers affected by the wildfires, parent firm JPMorgan said…
(Reuters) -OpenAI on Monday laid out its vision for artificial intelligence development in the U.S., saying the country needs outside investment and supportive regulation to stay ahead of China in the race for the nascent technology. “Chips, data and energy are the keys to winning AI” and the U.S. needs to act now to craft…
(Reuters) -Nvidia’s top customers are delaying orders of the AI chip leader’s latest ‘Blackwell’ racks due to overheating issues, the Information reported on Monday. The Santa Clara, California-based company’s shares fell more than 4% in early trading. The U.S. government also said earlier in the day it would further restrict AI chip and technology exports,…
