Covid emergency over | Kenvue IPO | Lilly Alzheimer’s data

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The World Health Organization has declared an end to the Covid-19 global public health emergency, more than three years after the pandemic began. 

WHO chief Tedros Adhanom Ghebreyesus said mortality from the virus has declined significantly over the past year as population immunity has increased from vaccination and infection. 

This has allowed most countries to return to life as we knew it before the pandemic, Tedros said. 

The WHO’s decision comes as the U.S. national public health emergency is set to end Thursday. 

In corporate news, Johnson & Johnson’s consumer spinoff Kenvue made its debut on the New York Stock Exchange this week in the largest initial public offering since 2021.

And Eli Lilly’s Alzheimer’s treatment donanemab significantly slowed progression of the disease, according to company data. FDA Commissioner Dr. Robert Califf praised the results unprompted in an interview. Approval of the treatment by the FDA seems likely. 

The FDA also approved the world’s first vaccine against RSV this week. 

Feel free to send any tips, suggestions, story ideas and data to me at spencer.kimball@nbcuni.com.

WHO declares end to Covid-19 global public health emergency

World Health Organization head Tedros Adhanom Ghebreyesus said most countries have largely return to normal life as mortality from the virus has declined due to broad immunity from vaccination and infection. 

“It’s therefore with great hope that I declared Covid-19 over as a global health emergency,” Tedros said.

– Spencer Kimball

J&J’s consumer-health spinoff Kenvue jumps 22% in public market debut

Shares of Johnson & Johnson’s consumer-health spinoff Kenvue jumped 22% Thursday after its market debut on the New York Stock Exchange.

That makes Kenvue’s debut the biggest U.S. IPO since EV maker Rivian went public in 2021.

Kenvue, which trades under the ticker “KVUE,” is raising hopes that the muted U.S. market for initial public offerings could be recovering after it collapsed last year.

The company’s IPO also marks the largest restructuring move in J&J’s 135-year history.

– Annika Kim Constantino

Eli Lilly Alzheimer’s treatment donanemab slowed disease progression in clinical trial

The Alzheimer’s treatment donanemab, which is made by Eli Lilly, significantly slowed progression of the mind-robbing disease, according to clinical trial data released Wednesday by the company.

Patients who received the monthly antibody infusion during an 18-month study demonstrated a 35% slower decline in memory, thinking and their ability to perform daily activities compared with those who did not receive the treatment, Eli Lilly’s data showed.

But the treatment’s benefits will have to be weighed against the risk of brain swelling and bleeding that can be serious and even fatal in rare cases. Three participants in the trial died from these side effects.

– Spencer Kimball

FDA approves GSK’s RSV vaccine for older adults, world’s first shot against virus

The Food and Drug Administration on Wednesday approved the world’s first RSV vaccine, a shot produced by GlaxoSmithKline for use on adults ages 60 and older.

The approval is a decisive victory for GSK in a race against drugmakers Pfizer and Moderna to bring to market a shot that targets the respiratory syncytial virus.

GSK will now focus on ensuring eligible older adults in the U.S. can access the vaccine “as quickly as possible,” the company’s chief scientific officer said.

– Annika Kim Constantino

Moderna posts surprise quarterly profit despite waning demand for Covid vaccines

Moderna on Thursday smashed estimates for first-quarter earnings and revenue, posting a surprise quarterly profit, despite lower demand for Covid vaccines, its only marketable product.

The company also maintained its full-year guidance of a minimum of $5 billion in revenue from its Covid vaccine, which will come from signed government contracts for the shot.

Moderna said it is having discussions about new contracts with customers in Europe, Japan and in the U.S.

– Annika Kim Constantino

CVS and Cigna earnings calls turn to PBM talk

CVS Health and Cigna earnings both topped expectations, with lower medical costs on the insurance side, while higher drug prices boosted their specialty pharmacy services.

But on the earnings calls, it was clear both companies’ executives are closely watching the bipartisan push in Congress to regulate pharmacy benefits management which some blame for high prices.

Cigna and CVS run the nation’s largest PBMs. Executives defended their business model, with Cigna’s David Cordani warning proposed regulations could actually lead to higher costs for consumers.

For CVS, the regulatory fight comes as the company is facing earnings headwinds now from the early close of its Oak Street Health acquisition.

– Bertha Coombs

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