Kenvue opened at $25.53 midday Thursday, about 16% above the $22 a share it had priced its IPO. The Johnson & Johnson’s consumer healthcare spinoff sold 10% more shares than planned. (The Wall Street Journal)
A Novo Nordisk executive said the pharma giant is temporarily restricting its supply of lower Wegovy dose strengths to “safeguard continuity of care.” Unprecedented demand, manufacturing issues and widespread off-label use have led to supply issues for both Wegovy and Ozempic. (Endpoints News)
Novartis’ unit Sandoz signed a distribution agreement with Adalvo to get exclusive rights to commercialize six products in the U.S. These products from Adalvo are slated for near- to mid-term launches, starting in 2024 with four out of six expected to be first-to-market. (Seeking Alpha)
Juul executives wrote personal checks to the head of the House Oversight Committee, Rep. James Comer, as he launched a critical probe of the FDA’s regulation of e-cigarettes. On March 28, Comer sent a sharply worded letter to FDA commissioner Robert Califf questioning whether the agency’s decisions on authorizing certain vapes “have been influenced by political concerns rather than scientific evidence.” (STAT News)
The World Health Organization fired the scientist who led a high-profile delegation to China to jointly look into the origins of the coronavirus pandemic, citing sexual misconduct. “Peter Ben Embarek was dismissed following findings of sexual misconduct against him and corresponding disciplinary process,” said spokeswoman Marcia Poole said in an email. (The Independent)
