Jennifer Calfas

Health authorities are reviewing thousands of reports of side effects. Maker Zoetis says the side effects are rare and its arthritis drugs are safe.

The U.S. government is investigating whether the consolidation of health insurers, pharmacy benefit managers and pharmacies is fueling high drug costs. The Department of Health and Human Services’ Office of Inspector General said it is examining whether health insurers' shared ownership of pharmacy-benefit managers and pharmacies has played a role in high drug prices. “We will determine the impact of related entity transactions within select vertically integrated entities on the prices for covered Part D drugs,” the OIG said in an undated post on its website.

Shares of Swiss drugmaker Novartis rose more than 3% in morning trading after the pharmaceutical company’s first-quarter sales surpassed analysts’ expectations and it raised its full-year guidance. Novartis leaders touted strong sales across the company’s major brands on a call with analysts Tuesday. The company reported $11.8 billion in net sales for its first quarter—higher than estimates from analysts surveyed by FactSet and fueled by more than $1 billion in quarterly sales for both heart-failure drug Entresto and psoriasis drug Cosentyx.

Bristol Myers Squibb will shed 2,200 employees this year as part of a cost-cutting effort to save $1.5 billion by the end of 2025. During a call with analysts Thursday, Chief Finance Officer David Elkins said the job cuts are part of an effort to become “more agile” and targeted “removing layers of management so decisions get made more quickly.” Company leaders said the plan is to reinvest in its most promising drug development programs that are most likely to produce high returns.

Zoetis jumped more than 6% in Thursday morning trading as leaders of the animal-health company reiterated their confidence in the safety of an arthritis drug for dogs and reported better-than-expected sales for the first quarter. Zoetis reported $2.2 billion in revenue for the first quarter of the year, a 10% increase from last year and slightly higher than expectations from analysts surveyed by FactSet. Neither the company nor arthritis and animal-health researchers know of a link between the drugs and reported side effects.

Doctors are debunking misconceptions about sunscreen as sentiments about toxins proliferate across social media.

Russia-U.S. exchange is the largest East-West prisoner swap since the Cold War.

A whirlwind of emotion and excitement, relief and disbelief engulfed Evan Gershkovich’s vast network of friends on Thursday, many of whom worked together for more than a year advocating for his release. Some opened bottles of champagne upon confirmation their wrongfully convicted friend was now on h

Some researchers warn overhydration could be a growing issue, made worse by more frequent heat waves and other factors.

Years after infection, even answering email remains arduous for many. Among Covid's superlatives is the blow it dealt to people's career plans en masse.