Takeda Pharmaceutical Posts Quarterly Net Profit, Raises Guidance — Update

The Japanese drugmaker said Thursday that it booked a net profit of 92.0 billion yen, equivalent to $599.6 million, for the three months ended Sept. 30, compared with a net loss of Y48.0 billion in the year-earlier period. That beat the estimate of Y50.0 billion from a poll of analysts by data provider Visible Alpha.

Drugmakers urge appeals court to revive challenge to US drug price negotiation program

Lawyers for AstraZeneca , Bristol Myers Squibb and Johnson & Johnson’s Janssen on Wednesday urged a federal appeals court in Philadelphia to revive their lawsuits challenging the first-ever U.S. law requiring pharmaceutical companies to negotiate drug prices with the government’s Medicare health insurance program that covers 66 million people.