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Reuters
16 minutes ago
- Reuters
Siemens reduces stake in Siemens Healthineers to 71.12%
MUNICH, July 31 (Reuters) - Siemens AG ( opens new tab reduced its stake in medical technology company Siemens Healthineers ( opens new tab by nearly 2 percentage points to 71.12%, according to a regulatory filing. Healthineers' CEO Bernd Montag said earlier this year that the company would welcome a stake reduction by its parent company, calling it "very good" for the long term. "We have repeatedly and clearly stated that we will reduce our stake in Siemens Healthineers as part of the acquisitions of Altair and Dotmatics, without prejudice to any strategic decisions," a Siemens spokesperson told Reuters on Thursday.
Reuters
16 minutes ago
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AbbVie lifts annual profit forecast on strong demand for newer immunology drugs
July 31 (Reuters) - AbbVie (ABBV.N), opens new tab raised its 2025 profit forecast on Thursday, after beating Wall Street estimates for second-quarter results on strong sales of its newer immunology drugs Skyrizi and Rinvoq. Shares of the drugmaker rose nearly 3% to $195.03 before the bell. The company is pushing Skyrizi and Rinvoq to counter the drop in sales of Humira, as the once-bestselling drug faces competition from several cheaper biosimilars that began hitting the U.S. market in 2023. "We're entering the second half of the year with substantial momentum," said CEO Robert Michael. Skyrizi recorded quarterly sales of $4.42 billion, beating analysts' average estimate of $4 billion, while Rinvoq sales of $2.03 billion surpassed estimates of $1.97 billion, according to data compiled by LSEG. The North Chicago-based drugmaker has spent more than $20 billion on acquisitions since 2023 as Humira lost patent protection. On Wednesday, Bloomberg News reported that AbbVie is in talks to acquire privately held psychiatric disorder drug developer Gilgamesh Pharmaceuticals in a deal worth about $1 billion. Global sales of arthritis treatment Humira, once the world's best-selling drug, came in at $1.18 billion in the second quarter, missing estimates of $1.45 billion. AbbVie's forecast raise comes on the back of the European Union's framework trade deal with the United States, under which all EU-produced pharmaceuticals entering the U.S. will be subject to a 15% tariff. AbbVie has a significant manufacturing presence in Ireland, where it makes its wrinkle treatment Botox. The company now expects adjusted annual profit per share between $11.88 and $12.08, compared with its previous expectations of $11.67 to $11.87. The company earned quarterly adjusted profit per share of $2.97, compared with estimates of $2.88.
BBC News
17 minutes ago
- BBC News
🎧 Blues' behind-the-scenes series hits TV screens
"It should build the fanbase and expand us - who knows who the next investor around the corner might be?"BBC Radio WM's Ed James talks to Birmingham City fan and podcaster Craig Courtney about the upcoming Blues documentary and what it might do for the to Craig Courtney's full thoughts and more on BBC Sounds.
