Coveted metabolic gem Rhythm reportedly gets $10B offer from AstraZeneca

 

AstraZeneca has apparently made a $10 billion bid to acquire Rhythm Pharmaceuticals, an offer William Blair suspects will not be the last for the hot ticket metabolic biotech.

Rhythm Pharmaceuticals’ shares ended Wednesday up 24% on rumors that AstraZeneca had made a $10 billion bid to buy the biotech, which focuses on rare neuroendocrine diseases.

The Wall Street Journal reported the potential transaction, citing sources familiar with the matter. AstraZeneca reportedly offered $124 per share for Rhythm.

“We believe that this company would be a great strategic pickup for AstraZeneca,” William Blair wrote Wednesday afternoon. The firm had selected Rhythm as a likely takeout target earlier this year, with multiple potential buyers given its metabolic focus.

“We believe any large-cap biopharma company with a metabolic (diabetes, obesity, etc.) could be interested in this company,” the firm said. “In our view, that is basically every biopharma company out there.”

The star of the buyout would be injectable weight loss drug Imcivree, which won approval in March for its third FDA indication, this time for acquired hypothalamic obesity (aHO). William Blair anticipated that the drug could hit $3.6 billion in sales by 2032, not including the potential for an approval in Prader-Willi syndrome. Rhythm is planning a Phase 3 trial for that rare disease later this year, according to the firm.

Earlier this week, Rhythm reported $92.1 million in global sales for Imcivree in the third quarter, an increase of 29% from the previous quarter. So far, the company has received over 700 patient start forms for the drug from more than 500 prescribers as of the end of September, according to the earnings report.

William Blair pointed to aHO—a condition involving accelerated and sustained weight gain caused by hypothalamic injury or dysfunction—as the most lucrative indication, with as many as 28,000 patients across the U.S., Europe and Japan, where the drug is being launched. Imcivree, first approved in 2020, is also cleared for chronic weight management for those with certain genetic mutations and Bardet-Biedl syndrome.

“What we have always liked so much about the aHO opportunity is that we see no competition in front of or behind it,” William Blair wrote. “GLPs do not work there, and setmelanotide [Imcivree] Phase 3 hit on its primary endpoint.”

The path for Imcivree has not been smooth sailing, however. A Phase 3 basket trial testing the drug in multiple genetic obesities failed earlier this year, just prior to the FDA’s aHO approval. The trial had featured patients with rare, genetically-driven obesities of the MC4R pathway. Analysts had expected at least one to hit, but all four genetic sub-studies were unsuccessful. Stifel had modeled $300 million in sales by 2034 for these genetic indications.

Rhythm has more coming up behind Imcivree, including the MC4R-specific agonist bivamelagon in aHO and RM-718 for aHO and Prader-Willi. The company also has a program in discovery for congenital hyperinsulinism.

A Phase 3 trial will be initiated for bivamelagon and enrollment for a Phase 1/2 trial of RM-718 should be completed by year-end, the company reported during earnings. Rhythm is also planning a study of bivamelagon in hyperphagia associated with Prader-Willi in 2027.

Rhythm had $320.9 million in cash on hand as of Sept. 30.

AstraZeneca reported earnings last week, with CEO Pascal Soriot saying that he is looking for potential business development options in oncology, cardiovascular, rare disease, immunology and respiratory disease. Leerink Partners recently flagged that the U.K. pharma has the potential for a transaction in the $10 billion range.

https://www.biospace.com/business/coveted-metabolic-gem-rhythm-reportedly-gets-10b-offer-from-astrazeneca

'FT: Russian Diesel Tankers Flee US Route as Trump-Putin Deal Hits Sanctions Wall'

 Two tankers carrying Russian diesel have turned away from the US, putting Trump’s deal with Putin to bring Russian fuel to American buyers in doubt.

The Russian tanker Talisman and Hong Kong-owned Leruo have both abandoned the US Atlantic Coast as their declared destination, the Financial Times (FT) reported on Thursday, Nov. 5.

Leruo, which is under UK, EU, and Canadian sanctions, switched its destination signal to Brazil on Monday, Nov. 2.

Talisman, sanctioned by the US, the UK, and the EU, has turned away from the Atlantic and entered the Mediterranean. It is now off the coast of Algeria, signalling “for orders” – meaning it has no confirmed buyer or destination port.

A third tanker, the Greek-owned Agioi Fanendes, is still apparently heading towards New York, although it too is signalling “for orders.” The vessel was previously expected to deliver around 40,000 metric tons (44,092 US tons) of Russian diesel.

A fourth vessel, the Seychelles-owned Beast, is signalling “Atlantic” after loading diesel at Russia’s Primorsk port on Oct. 27, indicating that it is heading towards the US East Coast.

Matt Smith, an analyst at commodities intelligence firm Kpler, said US companies were reluctant to buy Russian diesel because of legal and sanctions-related risks.

The reluctance had already been reported by energy industry executives and analysts speaking to The Washington Sun.

New Jersey Governor Mikie Sherrill has also warned businesses that the deal could violate a 2022 law banning Russian energy imports following Moscow’s full-scale invasion of Ukraine.

Putin gets a fuel deal and a political backlash

Trump announced the arrangement on Oct. 9 after speaking with Putin, promising an immediate release of more than 300,000 metric tons (33,069 US tons) of Russian diesel, followed by additional shipments.

The deal triggered an immediate backlash in Ukraine. President Volodymyr Zelensky warned that renewed Russian fuel revenues would help finance Moscow’s war, questioning why Washington was easing economic pressure on the Kremlin while simultaneously negotiating an end to the invasion.

“This is additional money, additional money for this war against us, without question,” Zelensky said.

The arrangement also drew bipartisan criticism in Washington. Twelve US senators urged Trump to abandon the deal, arguing that easing restrictions would reward Moscow without meaningfully addressing American fuel prices.

The controversy deepened when the Treasury Department authorized transactions involving Russian diesel through April 2027.

Trump also waived broader sanctions provisions shortly before they were due to take effect, including measures targeting countries purchasing Russian energy.

Zelensky criticized the sanctions relief, warning that it would strengthen Putin rather than pressure him to end the war.

First shipment was a fraction of Trump’s promise

The first Russian diesel shipment eventually set sail for the US in late October.

The Greek-owned Agioi Fanendes loaded approximately 40,000 metric tons (44,092 US tons) at Russia’s Primorsk port, heading towards New York.

That was just 13% of the 300,000 metric tons (330,693 US tons) Trump initially promised would be released immediately.

Ukraine’s sanctions envoy Vladyslav Vlasiuk estimated that the cargo would cover less than two hours of US diesel consumption.

Moscow later announced that three tankers were heading to the US, with a fourth expected to follow.

Now, two of the three initially US-bound cargoes have changed course.

“Two of the three Russian diesel cargoes bound for the US have now diverted to other destinations,” Matt Smith, an analyst at commodities intelligence firm Kpler, told the FT.

Smith said the remaining tanker could also divert because of uncertainty among US buyers over sanctions and regulatory risks.

The developments come as US diesel inventories have fallen below 100 million barrels for the first time in more than two decades, according to the FT.

https://www.kyivpost.com/post/89197

Cardinal beats, ups FY27 EPS and pharma profit growth guidance

 

Cardinal Health beats Q1 2027 estimates with EPS $3.26, revenue $67.5B, raises FY27 EPS and pharma profit growth guidance

• Q1 EPS $3.26 grew 28% on revenue $67.5B up 5% YoY.
• Management raised FY27 EPS outlook to $12.80–13.00 and pharma profit growth to 10–12%.
• Prior FY 2027 non-GAAP EPS guidance range was $12.40–$12.60 before being raised to $12.80–$13.00.
• Specialty revenue rose 18%, led by urology and oncology, driving 17% pharma segment profit growth.
• "Other" segment revenue grew 7% and profit 16%, prompting raised full-year growth targets.
• Renewed CVS distribution contract through 2032 and other large customers, securing two-thirds of revenue base.
• GMPD posted better‑than‑expected $33M profit but full‑year guidance now biased to low end.
• GLP‑1 demand added ~500 bps to revenue growth, mostly offset by IRA WAC reductions.
• Elevated petroleum costs from Iran conflict pressuring distribution margins, partly offset by tariff tailwinds and automation.
• Strong free cash flow of $1.6B and $5.3B cash support buybacks, dividends and M&A.
• Regulatory shifts (OPPS/340B, IRA) seen as manageable but could redirect provider volumes and reimbursement.
• Main concern: Margin pressure and execution risk in GMPD amid elevated fuel costs and evolving reimbursement policy.
• Strong quarter, driven by pharma and Specialty outperformance plus accelerating growth in the "other" segment.

https://finviz.com/stock?t=CAH&p=d

ANI beats, ups guidance despite Cortrophin cut, agrees $560M Egetis deal for Emcitate

 

ANI beats Q3 2026 estimates, raises 2026 EPS guidance despite Cortrophin cut, agrees $560M Egetis deal for Emcitate

• Q3 revenue $290.8M (+28% YoY) and adjusted EPS $2.70, driven by diversified growth across key segments.
• Cortrophin revenue $138.7M (+36% YoY) but below internal expectations, prompting a full-year outlook cut.
• Cortrophin guidance reduced to $480–500M from $520–540M due to specialty pharmacy fulfillment bottlenecks.
• Gout launch demand strong, with new cases doubling QoQ and prescribers up 67% versus Q2.
• ANI adding specialty pharmacies and patient support resources, seeing early improvements in time-to-first-fill metrics.
• Iluvien revenue $22.3M (+34% YoY), with full-year guidance raised to $80–85M on continued momentum.
• Generics revenue $104.5M (+11% YoY); 16 launches year-to-date and #2 industry position in CGT filings.
• Full-year revenue guidance narrowed to $1.085–1.125B; adjusted EBITDA raised to $290–300M and EPS to $9.37–9.71.
• ANI offering $560M cash for Egetis to expand its rare disease portfolio, adding Emcitate with >$300M peak sales potential.
• Deal funded with approximately $300M cash and up to $300M debt, implying pro forma leverage around 2.7x.
• Mixed quarter, with strong broad-based performance offset by Cortrophin execution issues and associated guidance reduction.
• Main concern: resolving Cortrophin fulfillment bottlenecks and executing Emcitate’s ultra-rare launch without eroding profitability.

https://finviz.com/stock?t=ANIP&p=d

France bracing for 220 protests nationwide on Thursday, interior minister says

 French authorities were bracing for a day of nationwide protests on Thursday, according to Interior Minister Laurent Nunez, as demonstrators from several large protest groups joined forces to march against rising living costs and public spending cuts.

Thursday's action comes after weeks of nationwide demonstrations, which have seen incidents of violence, vandalism and looting -- particularly on Oct. 17 when the French government admitted that police "lost control." Authorities then introduced localized curfews in multiple cities in a bid to curb the unrest.

The demonstrations initially erupted in September as a student-led movement demanding reforms to the education system. That subsequently evolved into a broader movement demanding action to address rising costs of living and years of public spending cuts by governments under President Emmanuel Macron.

French authorities are expecting more than 220 protests across France on Thursday, Nunez told reporters at a press conference on Wednesday. Some 70,000 police will be deployed nationwide, he added.

People walk past a GrandOptical store with its display windows protected by wooden panels on the Champs-Elysees avenue in Paris on the morning of a nationwide day of strikes and protests on Nov. 5, 2026.

Sarah Meyssonnier/Reuters

More than 700,000 people are expected to take part in the marches outside Paris, with more at events inside the capital. Those attending will include demonstrators from the student protest movement, French trade unions and the "Gilets Jaunes" -- or Yellow Vests -- who drove nationwide anti-government protests from 2018 to 2020.

In Paris, demonstrators plan a large march starting in the Place de la Republique at 2 p.m. local time and proceeding to the Place de le Nation in the east of the city. Authorities denied permission for protesters to march their original planned route from the Place de la Bastille and Place de la Concorde across the center of the city.

The head of France's second-largest union, the CGT, urged unions and workers to "generalize the strike."

"We want two things: wage increases everywhere ... and a revision of the government's draft budget which, as it stands, is catastrophic for the country," CGT General Secretary Sophie Binet told French television on Monday.

A protester prepares to kick a tear gas canister during a demonstration in Nantes, France, on Nov. 5, 2026.

Sebastien Salom-gomis/AFP via Getty Images

The Eiffel Tower was closed on Thursday due to the strike, a notice on its website read.French rail services, schools and other public institutions are expected to be impacted by the nationwide action, officials said.

Education Minister Edouard Geffray reported in a post to X that a high school was set on fire in a suburb of the southern city of Toulouse, in an incident he described as "absolutely scandalous."

Following the dramatic and violent scenes of October's marches, the French government attempted to ease the concerns among students that sparked the current protest movement.

Geffray said the government would cancel 836 planned job cuts in public secondary education and create 500 additional high school teaching jobs.

From the 2027 school year, Geffray said that the size of second-year high school classes will be capped at 28 students in the 50% of high schools in France's least advantaged communities. The cap will be extended to all other schools from the 2028 school year, he said.

French high school students stage a sit-in in front of the Lycee Henri IV high school in Paris as part of a nationwide day of strikes and protests on Nov. 5, 2026.

Abdul Saboor/Reuters

Prime Minister Sebastien Lecornu, meanwhile, earmarked around $4.4 billion in funding for local authorities to help finance school renovations.

Macron acknowledged the grievances of the protesters while condemning the violence. On Oct. 17, some demonstrators targeted businesses and government buildings while protesters accused the police of using excessively violent tactics.

During a visit to France's second-largest city Marseille in the south of the country -- which experienced a significant outbreak of looting -- in late October, the president promised action.

"The high cost of living, the concerns of our high school and college students about their future: these are legitimate preoccupations that call for concrete responses," he wrote in a post to X. "But no anger can justify violence, looting, or attacks on our institutions. Demonstrating is a right. Destroying never will be."

Protesters gather Place de la Republique before the start of a demonstration in Paris on Nov. 5, 2026.

Ludovic Marin/AFP via Getty Images

The protests come around six months before French voters elect a new president. Macron will end a decade in office when he leaves the Elysee Palace in May 2027. Among those vying to replace him are Marine Le Pen, the leader of the far-right National Rally party, and Jen-Luc Melenchon, the leader of the leftist France Unbowed party.

"Six months before the presidential election, our country needs a democratic debate, not a spiral of violence. Disagreements must be able to be expressed, proposals confronted, and the French people freely choose their future," Macron wrote on X in October.

Melenchon has taken part in the marches in Paris and called for the voting age to be lowered to 16. The left-wing leader faced criticism from his opponents for his backing of the movement after the violence of Oct. 17.

Le Pen, meanwhile, has sought to harness unease over the demonstrations. In her first campaign speech in the city of Orleans in October, Le Pen told supporters she would "restore the rule of law" if she won the coming contest.

On Thursday, Le Pen said in a post to X, "The social crisis must find political answers, and we will provide them."

https://abcnews.com/International/france-bracing-220-protests-nationwide-thursday-interior-minister/story?id=137868820

Ironwood raises 2026 LINZESS and total revenue guidance after beat

 

Ironwood raises 2026 LINZESS and total revenue guidance after beating Q3 estimates with EPS $0.36 and revenue $133.0M

• Raises full-year 2026 LINZESS U.S. net sales guidance to $1.20–$1.25 billion following strong third-quarter performance.
• Boosts 2026 total revenue guidance to a range of $485–$510 million.
• Expects 2026 adjusted EBITDA of over $350 million under the updated outlook.
• Fiscal Q3 2026 non-GAAP EPS was $0.36, increasing 57% year over year.
• Fiscal Q3 2026 revenue reached $133.0M, up 9% compared with the prior-year quarter.

https://finviz.com/stock?t=IRWD&p=d

Russia Agrees to Supply Iran With 90 Launchers for Missiles Used in Ukraine

 The order appears in a 2024–2025 production schedule from Russian manufacturer Vympel, which the FT reviewed. It signals Moscow’s readiness to arm Tehran even as its own war effort strains Russian industry.

A Coded Customer

The schedule records an export order for 90 APU-L launchers for a buyer designated “K-10.” Rosoboronexport, Russia’s state arms exporter, uses that code for Iran.

The same code appears in other Russian contracts. They include paperwork on Yak-130 trainer jets Iran received in 2023 and 2024.

Weapon Proven in Ukraine

The APU-L is built for attack helicopters such as the Mi-28. It carries the LMUR light multipurpose guided missile, also known as Izdeliye 305.

The missile can hit moving targets at ranges of roughly 14 km, and an operator can steer it in flight. It entered Russian army service in 2022 and has been used extensively in Ukraine.

China Also on the Order Book

The documents show Vympel pressing for faster supply of APU-L and APU-305 components. It warned that delays could affect nine contracts.

Seven are with Russian customers. The two foreign buyers are China, with an order for 192 APU-305 launchers, and K-10, with 90 APU-L units.

Delivery Unconfirmed

The documents do not show whether the launchers ultimately reached Iran. Earlier FT reporting found Russia secretly helping Iran build supersonic cruise missiles. Moscow also plans deeper ties with Tehran.

https://clashreport.com/defense/articles/russia-agrees-to-supply-iran-with-90-launchers-for-missiles-used-in-ukraine-v91d1g04jy