Mostly Cloudy 82°
Tag:

Pharmaceuticals

Business
Kodak May Not Survive After 130+ Years, Iconic Film Company Warns: 'Substantial Doubt' Kodak May Not Survive After 130+ Years, Iconic Film Company Warns: 'Substantial Doubt'
Kodak May Not Survive After 130+ Years, Iconic Film Company Warns: 'Substantial Doubt' Kodak's "moment" may be coming to an end after 133 years. Eastman Kodak Company is warning investors that it may not be able to continue operating without securing new financing. The Rochester, New York, company disclosed its financial concerns in its quarterly earnings release on Monday, Aug. 11. The pioneering photography brand reported a $26 million loss in the second quarter of 2025. That's a $52 million swing from the same period in 2024. The poor earnings report sent Kodak's stock tumbling nearly 20% on Tuesday, Aug. 12. "As a result, these conditions raise substantia…

SHARE

by Chris Spiker
Business
Rahway-Based Merck Stock Drops, Layoffs Begin In $3B Restructuring Plan Rahway-Based Merck Stock Drops, Layoffs Begin In $3B Restructuring Plan
Rahway-Based Merck Stock Drops, Layoffs Begin In $3B Restructuring Plan Merck, a pharmaceutical company headquartered in Rahway, announced it will be undergoing layoffs after a disappointing second quarter.  In its earnings report, Merck said it aims to save more than $3 billion in cost savings as part of a "multiyear optimization initiative."  The restructuring program includes eliminating certain administrative, sales and research and development positions. Merck did not say how many people would be laid off, but said they aim to achieve the cost savings by 2027.  To save money, the company plans to reduce office space and optimize its manufac…

SHARE

by Sam Barron
News
Anne Burrell’s Cause Of Death Revealed Weeks After Food Network Star Was Laid To Rest Anne Burrell’s Cause Of Death Revealed Weeks After Food Network Star Was Laid To Rest
Anne Burrell’s Cause Of Death Revealed Weeks After Food Network Star Was Laid To Rest The mystery surrounding celebrity chef Anne Burrell’s unexpected death has taken a devastating turn. Burrell died by suicide, the New York City Medical Examiner’s Office confirmed to Daily Voice on Thursday, July 24. Burrell, 55, was found unresponsive in the shower of her Brooklyn apartment on the morning of Tuesday, June 17. Police responded to a 911 call around 7:50 a.m. for a possible cardiac arrest and found her surrounded by approximately 100 assorted pills, according to an internal NYPD report cited by The New York Times. The Medical Examiner’s Office determined Burrell died from “a…

SHARE

by Michael Mashburn
Business
NJ-Based Wegovy Provider Ends Hims & Hers Deal Over Knockoff Weight-Loss Drug Sales NJ-Based Wegovy Provider Ends Hims & Hers Deal Over Knockoff Weight-Loss Drug Sales
Nj-based Wegovy Provider Ends Hims & Hers Deal Over Knockoff Weight-Loss Drug Sales Novo Nordisk has ended its partnership with Hims & Hers Health after two months, accusing the telehealth company of pushing illegal knockoff versions of its weight-loss drug Wegovy and deceptive marketing. The pharmaceutical giant with US headquarters in Plainsboro, New Jersey, announced the termination of its deal with Hims & Hers in a news release on Monday, June 23. Shares in Hims & Hers plummeted more than 26% when Wall Street began trading for the day. The move comes weeks after the Food and Drug Administration declared that the nationwide shortage of Wegovy was resolv…

SHARE

by Chris Spiker
Business
US, UK Unveil New Agreement In Trump's First Post-Tariff Trade Deal: Here's What's In It US, UK Unveil New Agreement In Trump's First Post-Tariff Trade Deal: Here's What's In It
US, UK Unveil New Agreement In Trump's First Post-Tariff Trade Deal: Here's What's In It The United States and the United Kingdom have announced a trade agreement, the first deal since President Donald Trump announced sweeping tariffs that have shaken the US economy. Trump unveiled the outline of the new trade deal in the Oval Office on Thursday, May 8. The agreement keeps the original 10% baseline tariff that Trump imposed on the UK during his "liberation day" announcement nearly a month ago. A chart posted by Trump on his social media platform Truth Social claimed that the US-UK deal will bring in $6 billion in tariff revenue and $5 billion in new market access. "Today'…

SHARE

by Chris Spiker
News
Major Pharmaceutical Company Laying Off 500+ NJ Employees Major Pharmaceutical Company Laying Off 500+ NJ Employees
Major Pharmaceutical Company Laying Off 500+ NJ Employees Bristol Myers Squibb, the pharmaceutical company headquartered in New Jersey, announced plans to lay off more than 500 employees starting this month.  According to a Worker Adjustment and Retraining Notice, the company plans to lay off 516 employees from its Lawrence Township headquarters beginning Friday, May 9, with layoffs continuing into next year, ending in March. Bristol Myers Squibb had previously laid off 290 employees from its Lawrence office in February. "We remain focused on developing and delivering transformational medicines to patients around the world and continue to de…

SHARE

by Sam Barron
News
Inflation Fears Hit 44-Year High As Trump Tariffs, Market Crash Sink Consumer Sentiment: Survey Inflation Fears Hit 44-Year High As Trump Tariffs, Market Crash Sink Consumer Sentiment: Survey
Inflation Fears Hit 44-Year High As Trump Tariffs, Market Crash Sink Consumer Sentiment: Survey Concerns about inflation have spiked to their highest level in nearly 45 years, while consumer confidence plunged for the fourth straight month as Americans grow increasingly anxious about the economy, a new survey said. Americans now expect prices to climb 6.7% over the next year, the University of Michigan's Surveys of Consumers said on Friday, April 11. That's the highest inflation expectation reading since 1981 for the closely watched survey. While inflation cooled slightly in March, the latest federal numbers came before President Donald Trump announced his "liberat…

SHARE

by Chris Spiker
News
Hundreds Of NJ Workers To Be Laid Off From These Major Corporations This Year Hundreds Of NJ Workers To Be Laid Off From These Major Corporations This Year
Hundreds Of NJ Workers To Be Laid Off From These Major Corporations This Year Hundreds of New Jersey workers will be out of a job this year as several major companies slash their workforces, according to state WARN (Worker Adjustment and Retraining Notification) filings. From retail giants to pharmaceutical leaders, the layoffs span multiple sectors and impact communities across the state. Here’s what’s coming: Walmart – Hoboken Effective date: June 13, 2025 Employees impacted: 481 The notice was posted in February. Bristol Myers Squibb – Lawrence Township Effective dates: May 22, June 6, June 20, and Aug. 1, 2025 Employees impacted: 223 Layoffs at the pharmaceu…

SHARE

by Cecilia Levine
News
Trump Slaps 25% Tariff On Foreign Cars, Trucks As Economic Fears Rise Domestically Trump Slaps 25% Tariff On Foreign Cars, Trucks As Economic Fears Rise Domestically
Trump Slaps 25% Tariff On Foreign Cars, Trucks As Economic Fears Rise Domestically President Donald Trump has imposed a 25% tariff on all foreign-made autos, the latest in a chaotic series of tariff threats and trade war escalations that have fueled significant economic turmoil and anxiety. Trump signed an executive order to place the tariffs on cars and light trucks at the White House on Wednesday, Mar. 26. The tariffs go into effect Wednesday, Apr. 2, and the US will begin collecting duties on the following day. The measure builds on the existing 2.5% auto tariffs, which Trump has claimed would generate more than $100 billion in new annual revenue for the…

SHARE

by Chris Spiker
Business
Pharma Giant Cutting 400+ More North Jersey Jobs Ahead Of Major Drug Patent's Expiration Pharma Giant Cutting 400+ More North Jersey Jobs Ahead Of Major Drug Patent's Expiration
Pharma Giant Cutting 400+ More North Jersey Jobs Ahead Of Major Drug Patent's Expiration Pharmaceutical company Novartis is laying off more than 400 US employees who report to its East Hanover facility as part of a restructuring effort tied to shifts in its cardiovascular drug portfolio.  Novartis disclosed the 427 layoffs in a Worker Adjustment and Retraining Notification (WARN) and a spokesperson confirmed the job cuts to the Daily Voice on Tuesday, Mar. 18. The layoffs will take place between Friday, June 13 and Friday, Oct. 24. The Swiss drugmaker with about 78,000 employees globally is adjusting its commercial model ahead of the upcoming loss of ex…

SHARE

by Chris Spiker
News
FBI Probes Alleged Arson Fire At NJ Home Of Bayer Exec: Report FBI Probes Alleged Arson Fire At NJ Home Of Bayer Exec: Report
FBI Probes Alleged Arson Fire At NJ Home Of Bayer Exec: Report A suspicious fire that broke out at the New Jersey home of a pharmaceutical company executive earlier this week is under investigation by multiple agencies including the FBI, authorities said. Yahoo Finance was first to report the alleged attack on a Bayer executive March 4 in Morris County. The blaze broke out at a home on East Lane in Madison at approximately 7:30 that morning, according to Meghan Knab, a spokesperson for the Morris County Prosecutor's Office. The fire was quickly extinguished by local firefighters and the home did not suffer significant damage. Knab could not confirmed t…

SHARE

by Cecilia Levine
Business
February Job Growth Disappoints, Fueling Economic Fears From Rising Costs, Tariff Confusion February Job Growth Disappoints, Fueling Economic Fears From Rising Costs, Tariff Confusion
February Job Growth Disappoints, Fueling Economic Fears From Rising Costs, Tariff Confusion The US labor market fell short of expectations in February, adding to growing economic uncertainty from trade disputes, a hiring slowdown, and ongoing federal job cuts. The nation's economy added 151,000 jobs in February, according to data from the Bureau of Labor Statistics released on Friday, Mar. 7. That number was lower than the Dow Jones consensus forecast of 170,000, CNBC reported. Job growth lagged behind the 12-month average of 168,000, signaling a labor market slowdown. Healthcare led with 52,000 new positions, followed by financial activities (+21,000), transpo…

SHARE

by Chris Spiker
Business
Pharmaceutical Company Laying Off 290 NJ Workers Amid Massive Cost-Cutting Push Pharmaceutical Company Laying Off 290 NJ Workers Amid Massive Cost-Cutting Push
Pharmaceutical Company Laying Off 290 NJ Workers Amid Massive Cost-Cutting Push Nearly 300 employees in Lawrenceville will lose their jobs as part of a pharmaceutical company's major cost-cutting measures, officials said. Bristol Myers Squibb will lay off at least 290 employees in 2025, according to a Worker Adjustment and Retraining Notification (WARN) notice in February. A company spokesperson confirmed the layoffs to the Daily Voice on Monday, Mar. 3. The company will begin 223 of those layoffs on Thursday, May 22, and continue them through Friday, Aug. 1.  "We are optimizing operations across the company while prioritizing investments in innovative and t…

SHARE

by Chris Spiker
Police & Fire
NJ Pharmaceutical Exec Used Insider Info To Avoid $38 Million Loss: Feds NJ Pharmaceutical Exec Used Insider Info To Avoid $38 Million Loss: Feds
NJ Pharmaceutical Exec Used Insider Info To Avoid $38 Million Loss: Feds A 54-year-old former NJ pharmaceutical executive used insider information to avoid $38 million in losses, authorities said. Dale Chappell, who currently lives in Switzerland faces charges of securities fraud and insider trading, U.S. Attorney Philip Sellinger said. Chappell was formerly the chief scientific officer and member of the board of directors of Humanigen, a publicly traded clinical-stage biopharmaceutical company with offices in Short Hill, Sellinger said. Chappell was arrested on Friday, Dec. 20 in Switzerland, Sellinger said. The United States will seek Chappell’s extr…

SHARE

by Sam Barron