H.C. Wainwright has reiterated its Buy rating and $120 price target on BridgeBio Pharma (BBIO) following new data from the company's Phase 3 ATTRibute-CM study presented at the European Society of Cardiology Congress in Munich. The stock trades at $76.57, giving the company a market capitalization of approximately $15 billion.

Ionis Pharmaceuticals (IONS) priced zilganersen, its newly approved treatment for Alexander disease, at $285,000 per dose, a day after U.S. regulators cleared the injectable drug as the first approved therapy for the rare genetic disorder in both adults and children.

AbbVie (ABBV) said its experimental blood cancer therapy etentamig met the primary endpoints of a late-stage trial, reducing the risk of disease progression or death by 60 per cent compared with standard treatments and delivering an objective response rate of 74 per cent in patients with refractory multiple myeloma — well above the 45.7 per cent recorded by investigator-chosen alternatives.

Aspen Pharmacare (APNJ) expects African sales of Eli Lilly's (LLY) Mounjaro to exceed two billion rand ($124mn) in its current financial year, as soaring demand in South Africa is complemented by planned market entries in Nigeria and Kenya.

India's Cipla (CIPL) has entered an exclusive licensing agreement with China's Qilu Pharmaceutical to commercialize a biosimilar version of Merck's (MRK) blockbuster cancer drug Keytruda in the United States, positioning both companies to capture market share as the original therapy approaches a pivotal patent expiry.

Bubs Australia (BUB) secured permanent authorization from the US Food and Drug Administration to sell three infant formula products in the United States, sending its shares up as much as 45 per cent before closing 30 per cent higher — their strongest single-session gain in more than four years.

Shares in Ultragenyx Pharmaceutical (RARE) plunged nearly 48 per cent to a record low of $13.89 in early trading after its experimental treatment for Angelman syndrome failed a closely watched late-stage trial, wiping out approximately $1.25bn in market value and dealing a severe blow to one of the company's most important growth programs.

Shares in Novartis (NVS) fell more than three per cent after its experimental cholesterol-lowering drug pelacarsen failed in a closely watched late-stage study, erasing what analysts had expected to be a blockbuster revenue stream and heaping pressure on upcoming data from a muscle-wasting therapy the Swiss drugmaker acquired through its $12bn purchase of Avidity.

Louisiana Attorney General Liz Murrill has filed a federal lawsuit against Express Scripts, a subsidiary of Evernorth Health Services (CI), alleging that the pharmacy benefit manager artificially inflated prescription drug prices, steered patients toward affiliated pharmacies and colluded with a competitor to manipulate fees and reimbursements.

Spire Healthcare (SPI), the British private hospital operator, has agreed to be acquired by a consortium of investment funds comprising Toscafund Asset Management, Three Hills Capital Partners and Ares Management, in a transaction valuing its share capital at approximately £1.03bn ($1.39bn).