Wellgistics Health Launches Diabetes Drug Brenzavvy
Wellgistics Health has begun the commercial launch of diabetes prescription drug Brenzavvy to its network of 6,500 independent pharmacies that primarily target patients in rural communities where there is often an increased incidence of diabetes. As the Company's proprietary EinsteinRx artificial intelligence pharmacy platform is being rolled out into the Wellgistics Pharmacy Network's point-of-sales systems, Wellgistics will alert pharmacists to patients with a likely class 1A recommendation for a SGLT-2 inhibitor, as well as the likely patient benefit from dispensing Brenzavvy vs. other SGLT-2 inhibitors in the majority of cases where such a class 1A recommendation does not exist. Once alerted, pharmacists will be able to work to rapidly educate the provider on the benefits of Brenzavvy vs. other SGLT-2 inhibitors in patients without cardiovascular disease or chronic kidney disease. Brenzavvy's competitive price point when compared with the out-of-pocket costs of Jardiance & other SGLT-2 inhibitors, provides a compelling rationale for pharmacist-driven education of providers to help optimize prescribing decisions and help improve patient access.
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Autodesk's Strong Performance: Autodesk Inc reported third-quarter results with adjusted EPS of $2.67 and revenue of $1.85 billion, both exceeding analyst expectations, leading to a 6.1% increase in share price during pre-market trading.
Other Notable Gainers: Mobile-Health Network Solutions surged 45.4%, Inno Holdings gained 29.5%, and KALA Bio increased by 24.1% in pre-market trading, driven by various positive developments and agreements.
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Technological Advancements: This initiative follows Wellgistics' launch of HubRx AI, its proprietary AI platform for pharmacy operations, indicating a strong commitment to leveraging technology for improved efficiency in the healthcare supply chain.
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Partnership Details: The collaboration aims to launch PharmacyChain, a smart contract system for digitizing prescription tracking, enhancing efficiency and patient safety, while also exploring a revenue-sharing model.
Recent Developments: This announcement follows Wellgistics' recent launch of HubRx AI, an AI platform designed for pharmacies, further indicating the company's innovative direction.
Current Stock Performance: As of the latest update, WGRX shares were trading at $1.23, significantly up from a 52-week low of $0.33, reflecting strong market interest.
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U.S. Stock Market Performance: U.S. stocks saw significant gains, with the Dow Jones rising over 500 points, while the NASDAQ and S&P 500 also experienced increases of 1.27% and 0.98%, respectively.
Sector Movements: Communication services stocks rose by 1.2%, while energy stocks fell by 0.4%. Notable stock movements included Wellgistics Health surging 229% and Deckers Outdoor Corporation dropping 13%.
Economic Indicators: The University of Michigan consumer sentiment was revised down to 53.6 in October, while the S&P Global services and manufacturing PMIs showed improvements, indicating stronger economic activity.
Global Market Trends: European and Asian markets mostly closed higher, with Japan's Nikkei 225 gaining 1.35% and the eurozone's STOXX 600 rising 0.07%, reflecting a positive global market sentiment.
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Notable Stock Movements: Wellgistics Health saw a significant increase of 183% after a partnership announcement, while Genenta Science surged 145% due to a collaboration expansion. Conversely, Picard Medical's shares dropped 72%.
Global Market Overview: European shares were mixed, with slight gains in some indices, while Asian markets mostly closed higher. Economic indicators showed an increase in the S&P Global services and manufacturing PMIs for October.
