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Align Technology makes $100M open market stock repurchase

BY SEAN WHOOLEY Align Technology (Nasdaq:ALGN) announced today that it plans to repurchase $100 million of its own common stock. Tempe, Arizona-based Align Technology’s open market repurchase falls under its $1 billion stock repurchase program. The company’s board approved the program in January 2023. Align Technology executed a $250 million repurchase in February of this year with Citibank. Last month, the company triggered another $250 million repurchase in an accelerated program. As with other repurchase efforts, Align Technology President and CEO Joe Hogan intends to personally purchase $1 million in common stock. He did the same in the company’s accelerated program last month. The company expects to complete the repurchases by mid-December 2023, funding them with cash on hand. As of Sept. 30, 2023, it had approximately 76.6 million shares outstanding with $1.3 billion in cash on hand. “Invisalign is the most trusted brand in the Orthodontic industry globally and ...
- Source: drugdu
- 137
- November 8, 2023
RCM Staff Shortages Are Making It a Lot Harder for Providers to Get Paid

Discussions around healthcare’s workforce crisis usually center around providers’ lack of clinicians, but there’s a sweeping shortage of revenue cycle workers, too. In a new report, Experian Health surveyed 200 employees who are responsible for staffing the revenue cycle function at providers — every respondent said that staff shortages are having a significant negative impact on their organization’s ability to get paid for care and/or patient engagement. By KATIE ADAMS Healthcare’s workforce shortage is one of the most pressing — perhaps the most pressing — issue plaguing the industry. Discussions around this topic usually center around providers’ lack of physicians and nurses, but there’s a sweeping shortage of front and back office staff members, too. Experian Health, a company that sells revenue cycle management and patient engagement technology to providers, released a report last week shining light on this issue. To understand more about the healthcare sector’s workforce shortage among ...
- Source: drugdu
- 109
- November 8, 2023
【EXPERT Q&A】As a medical trade professional, how can one effectively manage a B2B platform account?

Drugdu.com expert’s response: As a medical trade professional, effectively operating a B2B platform account is key to achieving good promotional results. Here are some suggestions to help you better manage and promote your B2B account: 1.Complete and professional company profile: Ensure your company profile (including company introduction, contact details, licenses, qualifications, etc.) is complete and up-to-date. High-quality images and clear product descriptions will enhance the appeal of your company and products. 2.Continuous product updates: Regularly update your product catalog, ensuring each product description is accurate and detailed. Provide key information such as product images, specifications, prices, and MOQ (Minimum Order Quantity). 3.Timely responses: For B2B buyers, a quick and professional response is crucial. Ensure you or your team can reply to buyer inquiries promptly. 4.Customer reviews and feedback: Encourage satisfied customers to provide positive feedback, which can increase trust from other potential buyers. For any negative feedback, respond promptly and attempt ...
- Source: drugdu
- 356
- November 8, 2023
FDA extends pandemic-era policy allowing certain device, production changes without prior approval

Dive Brief The Food and Drug Administration will continue to allow medical device manufacturers to make alterations to certain products or manufacturing processes without prior authorization if the changes are due to production limitations or supply chain challenges. The policy is a continuation of COVID-19 pandemic-era changes that eased some requirements on device makers during the crisis. The guidance document, issued Thursday, outlines examples of when companies would not be required to file a premarket application (PMA) or humanitarian device exemption (HDE) supplement, or a 30-day notice, before making changes. While the policy was initially created for the emergency pandemic environment, the FDA wrote in the guidance document that it has “continued to observe supply chain challenges and shortages of medical devices remain widespread.” The agency removed the policy’s expiration date, but it could make revisions in the future. Dive Insight The guidance, first issued in May 2020, was supposed ...
- Source: drugdu
- 135
- November 5, 2023
Shark skin mucus shows potential for biomedical applications

Sharks differ from other fish in many ways, including an apparently remarkable ability to heal from wounds, according to reports of sharks recovering from injuries sustained in the wild. While this healing ability has not yet been documented in controlled laboratory conditions, some of the chemical compounds found in shark skin may have significant biomedical potential. To investigate this possibility, two dermatology researchers from the Karolinska Institute in Sweden carried out research on a small shark, the spiny dogfish (Squalus acanthias) and other cartilaginous fish species at the Marine Biological Laboratory (MBL) in Woods Hole. Their goal is to understand the unique biochemistry of the skin of these animals. Previous research on sharks in other labs has led to the development of a new antibiotic, and the discovery of biochemical pathways relevant to cystic fibrosis research. Jakob Wikström, associate professor of dermatology and principal investigator at Karolinska, and Etty Bachar-Wikström, ...
- Source: drugdu
- 120
- November 5, 2023
Prelude and AbCellera jump on the ADC train with partnership

Prelude Therapeutics and AbCellera have partnered to jointly discover, develop, and commercialise antibody-drug conjugate candidates (ADCs) for cancer treatment. The collaboration leverages Prelude’s expertise in targeted protein degradation, medicinal chemistry, and clinical development and AbCellera’s antibody discovery and development engine to generate novel precision ADCs. ADCs have been identified as a key innovation area by GlobalData, with multiple companies investing in these therapies. The most recent company to join this trend was MSD (Merck & Co), which signed a collaboration agreement with Daiichi Sankyo to develop and market three ADCs last month. Prelude will be responsible for the clinical development and global commercialisation, whilst AbCellera will lead the manufacturing activities for the ADCs. AbCellera will also have the option to co-promote the ADCs in the US, as per the 1 November press release. AbCellera generated $10.1m in revenue from discovery activity in Q2 2023, as per the company’s financials. AbCellera ...
- Source: drugdu
- 131
- November 5, 2023
Moderna posts reported net loss of $3.6bn in Q3 earnings

Moderna has posted a reported net loss of $3.6bn in its Q3 earnings compared to a net income of $1bn during the same period last year, in line with the decreasing Covid-19-related revenues seen across the sector this year. For the quarter ended 1 October 2023, the company reported a diluted loss per share of $9.53. Revenues also saw a decline of 32% to $3.4bn from $5bn in the same quarter of the previous year. In its earnings release, Moderna attributed the drop in revenues to the expected decline in global revenue generated by the Covid-19 vaccine Spikevax. Spikevax revenues saw a 42% drop against the same quarter in 2022, from $3.1bn to $1.8bn. Still, the US market share to date of Spikevax grew to 45% from 36% in 2022, and Moderna anticipates 2024 revenues of approximately $4bn and return to growth in 2025. Part of this sales projection is ...
- Source: drugdu
- 146
- November 5, 2023
Sangamo tightens the belt, cutting staff and assets to advance product pipeline

In a bid to further restructure operations, Sangamo plans to close its facility in Brisbane, California early in 2024, which will see 162 employees facing another round of layoffs. During the transition, the company will move its headquarters to its facility in Richmond, California, effective January 1, 2024. Sangamo will direct any freed resources towards advancing adeno-associated virus (AAV) capsid delivery technologies and its neurology epigenetic regulation portfolio via its investigational Nav1.7 and Prion disease therapies, said Sangamo CEO Sandy Macrae. Additionally, the company has decided to defer new investments for its Phase III Fabry and CAR-Treg studies and is instead actively seeking collaboration and investment partners for both programs. Sangamo is the latest to be swept in the wave of layoffs, following companies like NexImmune and Kinnate Biopharma, which sacked 53% and 70% of their respective workforces in September to redirect cash towards priority projects. In a conference call ...
- Source: drugdu
- 187
- November 5, 2023
Pfizer’s Litfulo approved by MHRA for adults and adolescents with alopecia areata

Pfizer’s Litfulo (ritlecitinib) has been approved by the Medicines and Healthcare products Regulatory Agency (MHRA) to treat severe alopecia areata in patients aged 12 years and older. Affecting approximately 147 million people globally, alopecia areata is an autoimmune disease characterised by patchy or complete hair loss on the scalp, face or body. The condition can develop at any age and nearly 20% of patients are diagnosed before the age of 18. Litfulo, which is a one-daily oral kinase inhibitor, works by blocking the activity of enzymes in the body involved in inflammation at the hair follicle. This reduces the inflammation, leading to hair regrowth in patients with alopecia areata. The MHRA’s decision on the drug was supported by positive results from the phase 2b/3 ALLEGRO trial, which evaluated Litfulo in patients aged 12 years and older with 50% or more scalp hair loss, including those with total scalp and body ...
- Source: drugdu
- 125
- November 5, 2023
CooperCompanies buys reproductive health products from Cook Medical after failed takeover

Dive Brief CooperCompanies bought some of Cook Medical’s obstetrics, doppler monitoring and gynecology surgery products for $300 million, the companies announced on Wednesday. The acquisition follows an attempt by Cooper to acquire Cook’s reproductive health business, which was scrapped amid scrutiny from the Federal Trade Commission. The assets included in the purchase do not include any of the fertility products the companies had discussed in the original deal, Cooper said. Dive Insight Cooper paid $200 million upfront and will pay two more annual installments of $50 million each. In exchange, it will acquire Cook’s Bakri postpartum balloon, cervical ripening balloon, doppler blood flow monitor portfolio and other surgical products. Cooper CEO Al White said in the deal announcement that the acquired devices “are highly synergistic” with the company’s current portfolio and will strengthen its position in fertility and women’s health. San Ramon, California-based Cooper’s surgery segment includes fertility, gynecology and ...
- Source: drugdu
- 164
- November 4, 2023

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