June 16, 2024

Image for article titled Ozempic knockoffs, Pfizer's cost-cutting, and AstraZeneca’s future: Pharma news roundup

Graphic: Images: SOPA Images / Contributor, Johanna Geron, Tom Little, Bloomberg / Contributor

The millennial-targeted Hims & Hers this week joined other telehealth platforms in offering customers a cheaper, compounded version of semaglutide, the active ingredient in popular weight loss drugs like Ozempic and Wegovy. Pharma giant AstraZeneca aims to increase its revenue by a whopping 75% in 2030, up from the $45.8 billion it generated in 2023 — just as it pulls its COVID-19 vaccines off the shelves. Meanwhile, Pfizer announced Wednesday another cost-cutting initiative as the company struggles with diminishing demand for its COVID-19 vaccine.

Check out those stories and more pharmaceutical news highlights from this week.

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