The Latest
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Deep Dive
Biotech M&A is picking back up. Here are the latest deals.
At $43 billion, Pfizer’s planned buyout of Seagen is the largest pharmaceutical industry acquisition since 2019.
Updated March 13, 2023 -
Karuna’s schizophrenia drug success draws a royalty buyer
PureTech Health will sell some of its royalty interest in Karuna’s drug, known as KarXT, after its second successful late-phase trial this week.
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Moderna inks second genetic medicine deal in a month
The biotech plans to use Generation Bio’s nonviral delivery technology to get nucleic acid-based therapies to immune cells and into the liver.
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FDA approves new antifungal as concerns grow over drug-resistant fungus
Rezzayo is the first new treatment for candidemia and invasive candidiasis to win FDA approval in years.
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Moderna CEO defends price of COVID shot at Senate hearing
Stéphane Bancel said his company's planned quadrupling of the vaccine’s price covers the higher costs of commercial sales. Sen. Bernie Sanders called it part of industry’s “unprecedented level of corporate greed.”
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Deep Dive
After a record run, fewer biotechs are going public. Here’s how they’re performing.
The pace of biotech IPOs so far this year is the slowest in at least five years, lagging behind even last year's torpid clip. Only four drugmakers have priced new stock offerings.
Updated March 3, 2023 -
Biohaven strikes a deal to take TYK2 drugs in a new direction
The rebooted biotech plans to test whether blocking TYK2 in the brain could help treat neurological diseases, licensing a compound from China-based Hangzhou Highlightll Pharmaceutical.
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Emerging biotech
At EpiBiologics, a pair of Genentech alumni wants to make next-gen protein degraders
Armed with a $50 million Series A round, the startup is building off of research from a lab run by protein engineering pioneer Jim Wells.
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U.S. government again rejects call to seize Xtandi rights
The Biden administration plans to review federal “march-in” rights and consider whether price could be a reason to take control of patents for drugs developed with government funding.
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Novo partners with Dewpoint to mine an emerging field for new drugs
The companies will collaborate to identify compounds that could treat insulin resistance by targeting shape-shifting cellular droplets known as biomolecular condensates.
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FTC wades into dispute between Supernus, generic competitor
The agency, which is taking a closer look at the pharma industry, submitted a brief to federal court in a case it says could have “significant implications” for Parkinson’s patients.
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A biotech stumbles in its bid to challenge Novo’s obesity drug
Altimmune’s drug aided weight loss in a Phase 2 trial, but also came with side effects that could hamper its ability to compete with Novo Nordisk’s Wegovy.
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Gilead’s Yescarta extends survival in lymphoma study
The results, the first for a CAR-T therapy, are further evidence supporting the use of the complex therapies earlier in a patient’s disease course.
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Karuna’s schizophrenia drug succeeds in a second late-stage trial
The results add to a growing body of evidence that Karuna’s drug, known as KarXT, could be a valuable new option for patients living with the brain disorder.
Updated March 20, 2023 -
Flush with cash, BioNTech buys into an immunotherapy to rival Yervoy
The COVID-19 vaccine maker is paying $200 million to secure rights to an experimental CTLA-4 inhibitor that privately held OncoC4 designed to have fewer side effects.
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ALS drug development
FDA staff signal support for Biogen ALS drug, but highlight data hurdles
In documents released Monday, agency staff appeared inclined to approve Biogen’s tofersen, which failed in its main trial. Gathering confirmatory evidence of its benefit could be difficult, however.
Updated March 20, 2023 -
Illumina, facing Icahn challenge, ‘moving quickly’ on resolution for Grail
The DNA-sequencing company said the activist investor hasn’t offered any better solutions for satisfying regulators’ concerns about the acquisition.
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Takeda, chasing Bristol Myers, unveils awaited TYK2 drug data
"This is why we did the deal," said Takeda R&D chief Andy Plump, referring to his company's $4 billion acquisition of the medicine from startup Nimbus Therapeutics.
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FDA reversal sets up high-stakes hearing on Sarepta gene therapy
The regulator will convene a panel of advisers to consult on an approval decision for the biotech’s Duchenne treatment, a change from just a few weeks ago when Sarepta had said a meeting wouldn’t be held.
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Merck TIGIT drug misses goal in lung cancer trial, adding to doubts over approach
The combination drug didn’t help patients any more than chemotherapy, but Merck will continue the trial to test it together with chemo.
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Sanofi joins other diabetes drugmakers in cutting insulin prices
The pharma is the last of the three major insulin suppliers to reduce U.S. list prices, responding to persistent criticism and policy changes that will affect Medicaid rebate payments.
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CMS lays out plans for negotiating drug prices
The guidance fills in details for one of the central pharmaceutical provisions of the Inflation Reduction Act, signaling how the agency will use its new authority.
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Esperion in dispute with Daiichi over drug milestone payment
The companies disagree over what qualifies for a payment of up to $300 million that’s associated with inclusion of heart data on the cholesterol drug’s label.
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US names first drugs to face price hike penalty
Gilead’s cancer cell therapies Yescarta and Tecartus were among the slate of 27 drugs singled out by CMS for rebates under a provision of the IRA.
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Healthcare companies may turn to big banks after SVB’s fall
SVB’s unraveling created a hole in life sciences financing that could be filled by bigger banks, but might hamper access to quick, short-term cash for startups.