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Nuvalent Surges 39% Premarket. GSK Acquires for $10.6 Billion at 40% Premium, New CEO’s First Big Bet on Lung Cancer Field
TradingKey - British pharmaceutical giant GSK announced on June 9 that it will acquire U.S. biotechnology company Nuvalent (NUVL) for $10.6 billion in an all-cash deal to bolster its lung cancer drug pipeline. This transaction marks GSK's largest acquisition in over a decade and represents the first major strategic move under new CEO Luke Miels.
US Pre-Market: Chip Stocks Rebound Leads Nasdaq Futures, Marvell Surges Nearly 9% Pre-Market to Be Added to S&P 500
TradingKey - On Monday Eastern Time, all three major U.S. stock index futures rose in pre-market trading as technology stocks recovered from last week's sell-off, with a rebound in chip stocks leading gains in Nasdaq futures. However, escalating tensions in the Middle East pushed oil prices higher, and market concerns regarding inflationary pressures and the Federal Reserve's policy path persist. As of press time, Dow futures rose 0.36%, S&P 500 futures rose 0.83%, and Nasdaq futures rose 1.49%.
Eli Lilly Zepbound Returns to CVS Formulary, Pre-Market Shares Rise as Much as 2%
TradingKey - Eli Lilly (LLY) shares rose nearly 2% in Thursday’s pre-market session as the market focused on a major decision from U.S. healthcare giant CVS Health (CVS). CVS announced it would restore insurance coverage for the weight-loss drug Zepbound and include Foundayo, an oral weight-loss medication newly approved in April, in its standard drug formulary.
Eli Lilly Bets Nearly $4 Billion on Vaccines: Is the Weight-Loss Drug Giant’s Next Growth Curve Here?
TradingKey - On May 26, Eli Lilly (LLY) announced the acquisition of three vaccine R&D companies—Curevo, LimmaTech Biologics, and Vaccine Company—for a total transaction value of up to nearly $4 billion. Specifically, Eli Lilly will pay up to $1.5 billion in cash for Curevo, up to $780 million for LimmaTech, and up to $1.55 billion for Vaccine Company.
Today’s Market Recap:Optimism over US-Iran Talks Drives US Stock Futures Higher, Crude Oil Plunges 6%
TradingKey - Stock futures jumped on Monday night as oil prices slid and hope grew that a resolution to the U.S.-Iran war was within reach.
Eli Lilly Weight-Loss Drug Retatrutide Posts Impressive Data; Can Novo Nordisk Break Through After Falling Behind Again?
TradingKey - On May 21, Eastern Time, Eli Lilly announced the results of the pivotal Phase 3 clinical trial (TRIUMPH-1) for its next-generation weight-loss drug, Retatrutide. As the world's first "triple agonist" targeting GIP, GLP-1, and glucagon receptors, its efficacy data has comprehensively sur
