Moderna Forecasts COVID-19 Vaccine Sales of $18.4 Billion in 2021

Moderna Inc said on Thursday it expects COVID-19 vaccine sales of $18.4 billion this year, above the $15 billion in sales forecast by Pfizer Inc for the only other vaccine authorized for emergency use in the United States so far.

Both vaccines, developed using a technology based on messenger RNA (mRNA), are being distributed at an unprecedented speed as cases mount in the United States, with deaths from COVID-19 surpassing the dire milestone of 500,000.

Gilead Beats Fourth Quarter Estimates, Provides Upbeat Forecast for 2021

Gilead Sciences Inc (Nasdaq: GILD) on Thursday forecast its 2021 results above Wall Street estimates after posting a 26% rise in fourth-quarter 2020 revenue, driven by sales of its antiviral drug, remdesivir, which is used to treat COVID-19 patients.

Shares of Gilead were up 2.6% in extended trading.

Gilead said the COVID-19 pandemic continues to affect its sales, including its treatments for hepatitis C and HIV, due to fewer people going to their doctors. It expects a gradual recovery in underlying market dynamics starting the second quarter of this year.

Jazz Pharmaceuticals To Acquire GW Pharmaceuticals for $7.2 Billion

Jazz Pharmaceuticals plc (Nasdaq: JAZZ) has agreed to acquire GW Pharmaceuticals plc (Nasdaq: GWPH), maker of the first cannabis-based epilepsy drug, in a $7.2 billion cash-and-stock deal, the companies announced. In a statement Wednesday, Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals, said the deal will enable the drugmaker to move beyond sleep disorders and cancer treatments by strengthening its neuroscience unit.

Elon Musk Says Neuralink Startup Has Created Brain Implant That Enables Monkey To Play Video Games

Elon Musk said his brain-implant startup has wired up a monkey’s brain to “play video games with his mind.”

During an interview late Sunday with social media app Clubhouse, the technology billionaire chatted about San Francisco-based Neuralink’s efforts to develop a high-tech, wireless interface that would allow people to control computers or cellphones just by thinking.

Musk did not provide any other details on how the monkey’s wirel...

Johnson & Johnson Beats Q4 Estimates, Raises 2021 Forecast

Johnson & Johnson on Tuesday forecast 2021 profit above Wall Street estimates and promised data from its widely watched coronavirus vaccine trial soon, as the healthcare conglomerate races to develop a potential single-dose vaccine for COVID-19.

Separately, J&J chief financial officer told CNBC that the company was expecting data sometime next week and was optimistic that it would be robust.

Public health officials are increasingly counting on ...

Gilead Raises Full-Year Profit Forecast on Increased Demand for Antiviral Remdesivir

Gilead Sciences Inc raised its full-year profit forecast on Monday, as a recent resurgence in COVID-19 cases boosted demand for its COVID-19 treatment, remdesivir.

The level of new COVID-19 cases in the United States is starting to rise again, amidst the slow rollout of vaccine. Experts say the country should expect another surge in mid-January due to holiday gatherings.

The antiviral, currently authorized to treat COVID-19 patients across the world, was one of the drugs used to treat U.S. President Donald Trump’s coronavirus infection.

Moderna on Doorstep of FDA Authorization for Its COVID-19 Vaccine

Moderna Inc’s COVID-19 vaccine appeared set for regulatory authorization this week after U.S. Food and Drug Administration staff endorsed it as safe and effective in documents released Tuesday.

The coronavirus pandemic has killed more than 300,000 people in the U.S. and the government is counting on the Moderna shot to help fulfill its promise to inoculate 20 million this month.

An FDA decision on whether to issue a so-called emergency use authorization for the Moderna vaccine will be made after a panel of outside advisers meets Thursday. The FDA typically follows the advice of the panel, but is not required to do so.

Stocks Break Four-Day Losing Streak; S&P 500 Gains 1.3%

Stocks notched broad gains on Wall Street Tuesday as renewed optimism that Washington will deliver more aid to the struggling economy put investors in a buying mood.

The S&P 500 climbed 1.3%, snapping a four-day losing streak. Technology companies powered much of the rally, which helped push the tech-heavy Nasdaq composite to an all-time high. An index of small-company stocks also set a record high. Treasury yields rose.

Negotiations between Democrats and Republicans on another round of coronavirus relief have been dragging on for weeks. Fresh signs of cooperation Tuesday appeared to boost the market’s confidence that Washington can get past its partisan divide and hammer out a deal. A bipartisan group of lawmakers unveiled a detailed proposal. Meanwhile, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin held another round of talks.

US Death Toll From Coronavirus Tops 300,000 As Vaccinations Begin

The U.S. death toll from the coronavirus topped 300,000 Monday just as the country began dispensing COVID-19 shots in a monumental campaign to conquer the outbreak.

The number of dead rivals the population of St. Louis or Pittsburgh. It is equivalent to repeating a tragedy on the scale of Hurricane Katrina every day for 5 1/2 months. It is more than five times the number of Americans killed in the Vietnam War. It is equal to a 9/11 attack every day for more than 100 days.

“The numbers are staggering -- the most impactful respiratory pandemic that we have experienced in over 102 years, since the iconic 1918 Spanish flu,” Dr. Anthony Fauci, the government’s top infectious-disease expert, said days before the milestone.

Stocks End Mostly Lower Monday; S&P 500 Loses 0.4%

Stocks closed mostly lower on Wall Street Monday after an early rally faded, extending the market’s recent pullback from record highs.

The S&P 500 fell 0.4% after having been up 0.9% in the early going. The reversal handed the benchmark index its fourth straight decline, something that hasn’t happened since September. Losses in the financial, industrial and health care sectors accounted for much of the decline, outweighing gains by technology stocks and companies that rely on consumer spending. Treasury yields were mostly higher, a sign of optimism in the economy.