Pfizer lowered its revenue projections for 2023, a change it attributed to declining demand for its Covid-19 vaccine, Comirnaty, and antiviral drug, Paxlovid. Citing this revenue decline, Pfizer is implementing a companywide cost-cutting plan projected to save $3.5 billion.
Flush with cash, Munjal Shah paints a tantalizing picture of healthcare where AI nurses trained to be chronic disease nurse specialists can take care of every chronic disease patient in America. There's both sincerity and bravado in the vision. Let's just hope that Shah's second venture in healthcare won't fail and be embroiled in lawsuits from angry employees and creditors.
This year's HLTH conference brought a bevy of news announcements from partnerships to new product features to acquisitions and more. In this list, MedCity News compiled short summaries for 11 of the conference's most notable announcements.
The FDA's digital health advisory committee will discuss technologies such as artificial intelligence and machine learning, virtual reality, and digital therapeutics as well as topics like decentralized clinical trials and patient-generated health data. Committee member nominations are due in December.
Hospital M&A activity has been returning to pre-pandemic levels this year, according to a new report. There were 18 M&A transactions in Q3, compared to seven in Q3 2021 and 10 in Q3 of last year. The reason why M&A activity is regaining its momentum is because hospitals are seeking partnerships to grow and protect their long-term financial sustainability the report found financial distress was the driving factor behind nearly 40% of deals announced during Q3.