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News, Biogen has announced plans to buy Reata Pharmaceuticals for $7.3 billion.

News, Biogen has announced plans to buy Reata Pharmaceuticals for $7.3 billion.  The deal would add the new drug Skyclarys to Biogen’s portfolio , which treats a rare neurological disorder and has massive sales potential. Biogen shares were flat at the news, but Reata shares skyrocketed close to 50%. Also within the healthcare space, Amazon Clinic has fully rolled out across all of the U.S. states. The online shopping behemoth has been trying to break into healthcare for years, having completed a $3.7 billion takeover of OneMedical earlier this year. The virtual platform is a conduit for users to connect with telemedicine partners that can help with everyday ailments like headaches, sinus care and acne. The ups and downs in healthcare stocks is a reminder of the importance of a diversified and balanced portfolio. Investors would be wise to mix up their investments to spread risk and reward.
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New Covid vaccines, for example, will become available in the U.S. this fall. Pfizer

  New Covid vaccines, for example, will become available in the U.S. this fall. Pfizer Moderna and Novavax have all updated single-strain shots, though public health officials expect uptake to be low. In fact, CDC data indicates that just 17% of the U.S. population has gotten the bivalent boosters approved last September. In June, the FDA advised drugmakers to update the Covid booster shots to target XBB.1.5, which is currently the predominant strain in the United States. The goal was to give drugmakers enough time to make the boosters available in the fall, and all the major players seem to be on target thus far. Despite the new vaccines coming, the low demand was a culprit in Pfizer’s earnings miss. The company’s revenue was just $12.7 billion for the second quarter, which fell short of the $13.4 billion analysts predicted. Meanwhile, Moderna’s Q2 report revealed $344 million in revenue, which was sharply down from last year but still beat estimates .
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