The New Jersey-based firm is the main supplier of fill-finish work - involving filling and packaging syringes and injection pens in sterile conditions - for Novo's popular weight-loss drug, Wegovy. Catalent's shares were marginally higher at $56.70, compared with Novo's offer of $63.50 per share. "We've been surprised by the continued weakness," said Stephens analyst Jacob Johnson.
The health insurer's quarterly profit, however, only narrowly beat estimates as medical costs were slightly higher than expectations. Centene, which earns a significant part of its revenue through government-backed Medicaid plans for low-income people, is "less exposed" to increased medical care utilization by older adults through Medicare Advantage compared to other health insurers, analysts say.
(Reuters) -Eli Lilly on Tuesday forecast 2024 profit above Wall Street estimates on soaring demand for its recently approved weight-loss drug, and said the treatment helped reduce symptoms of a common, difficult to treat fatty liver disease in a mid-stage trial. Shares of the Indianapolis-based drugmaker jumped nearly 5% in premarket trading after gaining about 11% in January, making Lilly the eighth largest company in the U.S. by market capitalization and most valuable healthcare company.