U.S. stock market update: Incannex Healthcare down 10.93%

U.S. Stock Market Midday Update

Stocks with High Trading Volume in the Industry

Eli Lilly fell 1.33%, with increased trading volume. Based on recent important news:

1. On September 24, Eli Lilly announced a $6.5 billion investment to build a factory in Houston, Texas, to enhance the production capacity of small molecule drugs, particularly the experimental oral weight loss drug orforglipron. This move aims to address the surge in demand for weight loss drugs in the U.S. and reduce supply chain risks associated with policy uncertainties. Following the announcement, the market held an optimistic view on the company's future development, but short-term stock price volatility increased.

2. On September 23, South Korean biopharmaceutical company Celltrion announced the acquisition of Eli Lilly's biopharmaceutical manufacturing facility in New Jersey for $330 million. This move is seen as a strategic step for Celltrion to enhance its manufacturing capabilities in the U.S., which may exert some pressure on Eli Lilly's short-term stock price.

3. On September 23, options trading by financial giants on Eli Lilly's stock showed a clear bearish trend, with 38% of traders exhibiting bearish tendencies, which may exacerbate short-term volatility in the market for Eli Lilly's stock. The pharmaceutical industry is expanding U.S. production capacity, increasing policy risks.

Pfizer fell 0.56%, with a trading volume of $534 million. Based on recent important news:

1. On September 22, Pfizer announced the acquisition of weight loss drug company Metsera for $7.3 billion, aiming to strengthen its position in the obesity drug market. This led to a roughly 2% increase in Pfizer's stock price in the morning, but it later fell back, indicating market skepticism about the long-term impact of the acquisition. Data source: multiple media reports.

2. On September 22, analysts pointed out that Pfizer's weight loss drug development faced setbacks, and this acquisition was to compensate for gaps in its product line. The market is taking a wait-and-see approach regarding Pfizer's future product pipeline, affecting stock price volatility. Data source: Zhitong Finance.

3. On September 24, Jefferies raised Pfizer's target price from $33 to $34, reflecting a cautiously optimistic view of Pfizer's potential post-acquisition. Data source: Jefferies. The competition in the obesity drug market is intensifying, and risks need to be monitored.

Merck fell 0.54%, with a trading volume of $490 million. Based on recent key news:

1. On September 22, the U.S. Food and Drug Administration (FDA) approved a new subcutaneous injection formulation of Merck's blockbuster cancer therapy Keytruda. This marks a significant change in the administration method of the world's best-selling cancer immunotherapy, expected to enhance patient experience and treatment efficiency.

2. On September 23, Merck signed a new memorandum of understanding with Siemens to accelerate artificial intelligence drug research and development. The two parties plan to expand their collaboration through new joint projects and deeper integration.

3. On September 24, Merck announced the cancellation of its research operations in London due to challenges in the business environment, while AstraZeneca suspended its £200 million investment plan at its Cambridge research base. Industry trend: Drug price control policies are having an impact Stocks Ranked Among the Top by Market Capitalization in the Industry

Johnson & Johnson rose 0.02%, with a market capitalization of $425.3 billion and increased trading volume. Based on recent key news:

1. On September 23, Johnson & Johnson announced it would withdraw its LINX gastroesophageal reflux management system from non-U.S. markets. This move was made for commercial reasons and did not report any safety or efficacy issues. This news may raise market concerns about the company's international business, leading to stock price fluctuations.

2. On September 23, Guggenheim raised Johnson & Johnson's target stock price from $167 to $206. Analysts are optimistic about the company's future growth prospects, driving the stock price up.

3. On September 22, Johnson & Johnson's PD-1 monoclonal antibody JNJ-67484703 did not achieve statistically significant results in its Phase II study for rheumatoid arthritis but demonstrated that the drug could effectively deplete PD-1 positive T cells. This news has implications for the company's prospects in the field of immunotherapy. Industry trend: ADC technology innovation, macro dynamics: economic data impact