BridgeBio Pharma (BBIO) is closing in on blockbuster territory with its transthyretin amyloidosis drug Attruby, after second-quarter US sales of $222mn beat Wall Street consensus by six per cent, prompting Jefferies analysts to forecast the drug could surpass $1bn in annual global sales this year.

Cardinal Health (CAH), the Dublin, Ohio-based drug distributor, raised its full-year profit outlook above analyst expectations after delivering a stronger-than-expected fourth quarter, buoyed by sustained demand for specialty and branded pharmaceuticals.

Tenax Therapeutics (TENX) said its experimental drug TNX-103 failed to significantly improve walking capacity versus placebo in a late-stage trial for a difficult-to-treat form of heart failure, sending its shares down nearly 90%.

Exor (EXOR), the investment vehicle of Italy's Agnelli family, has updated its shareholder agreement with Philips (PHG) to permit it to increase its holding in the Dutch health technology company to as much as 22%, up from a previous ceiling of 20%.

The US Food and Drug Administration has taken steps to increase oversight of food additives, issuing a proposed rule that would require manufacturers to formally notify the agency when they determine an ingredient to be "Generally Recognized as Safe," or GRAS.

A drug generating more than $1bn in quarterly sales might ordinarily be cause for celebration. But when Alnylam Pharmaceuticals (ALNY) reported $1.01bn in second-quarter Amvuttra revenues — fractionally below published consensus estimates — and trimmed its full-year outlook for the broader transthyretin franchise, its shares tumbled nearly 30%.

Alcon (ALC) raised its full-year profitability target last month after benefiting from US tariff refunds, sending its shares up around 4% in early trading and to the top of Europe's benchmark Stoxx 600 index.

Zydus Lifesciences (ZYDU) reported a near-third drop in first-quarter profit last month, as surging costs erased the benefit of robust sales growth across its domestic and consumer wellness operations.

Curium, the private equity-backed radiopharmaceutical company, has agreed to acquire Lantheus Holdings (LNTH) for up to $8bn, marking one of the sector's largest transactions as demand for radioactive compounds used in cancer diagnosis and treatment continues to attract intense dealmaking interest.

California's highest court has ruled in favor of Gilead Sciences (GILD), dismissing negligence claims brought by an estimated 24,000 HIV patients in a closely watched case that tested whether drugmakers can be held liable for failing to develop safer alternatives to treatments already deemed effective.