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Teva taps Sandoz veteran to take over CEO post from Schultz

Richard Francis will take over for the retiring Kåre Schultz on Jan. 1. He’ll face major challenges at Teva, including opioid settlements, biosimilar launches and reducing the company’s debt.

Merck to buy blood cancer biotech Imago for $1.35B

The deal is Merck’s second notable acquisition in the past year and a half, part of a strategy to diversify its pipeline beyond the top-selling Keytruda.

Merck KGaA outlines plan to rev up drug R&D

The German company aims to, on average, launch a new medicine or major treatment indication every 18 months in a bid to boost its pharma business.

Health tech companies weigh funding options amid weak IPO market

Healthcare technology companies are delaying initial share sales and searching for new sources of cash. Experts don’t expect a quick recovery.

Cancer drugmaker Plexxikon gets new life as Opna Bio

Eight months after Daiichi Sankyo shuttered the San Francisco Bay Area subsidiary, Plexxikon’s former CEO is resuscitating its drug research under a new name.

Replay reveals second gene therapy spinout, debuting new biotech Telaria

Telaria is the second spinout in Replay’s “hub-and-spoke” model, and will focus on developing a gene therapy for recessive dystrophic epidermolysis bullosa.

First-of-its-kind Type 1 diabetes drug wins FDA approval

Provention Bio’s teplizumab is meant to prevent the onset of Type 1 diabetes. To be sold as Tzield, the drug will cost $193,900 for a typical full regimen. 

FDA approves Rezvoglar as second ‘interchangeable’ insulin biosimilar

Eli Lilly’s long-acting copycat drug, first approved in late 2021, now has a designation that will allow pharmacists to swap it for Sanofi’s Lantus.

Former Rubius CEO to lead buzzy Flagship startup

Pablo Cagnoni was appointed CEO at the RNA drug startup Laronde days after departing Rubius, a once high-flying biotech that’s now laid off nearly all its employees and is seeking a sale. 

Editas to seek partner for CRISPR medicine after lackluster study results

While the biotech will not develop the gene editing therapy further on its own, CEO Gilmore O’Neill claimed the data are still a meaningful demonstration of what CRISPR can accomplish. 

FDA panel votes in favor of Ardelyx’s once-rejected kidney disease drug

The recommendation represents a surprising turnaround for Ardelyx’s drug, which the FDA put before an advisory committee only after the biotech appealed its rejection last year.

Regeneron teams up with CytomX to develop dual-targeting cancer drugs

Regeneron will pay CytomX $30 million to try to create bispecific antibody drugs that are safer and have a wider reach than existing treatments.  

Pfizer, BioNTech start study testing next COVID-19 vaccine

The new candidate is meant to provide broader immunity over a longer period of time and is part of the companies’ strategy to stay ahead of a shifting coronavirus threat.

Biotechs reveal layoffs, research revamps in third quarter earnings

Tricida, Harpoon, Freeline and three other small drug developers last week announced plans to cut staff or to reprioritize their drug development.

Divided Congress after midterms will allow HHS to execute on policy priorities, Becerra says

The agency is focused on implementing drug price negotiation in Medicare and surprise billing regulations, according to the secretary.

Freeline cuts back as it continues search for gene therapy partner

The U.K. biotech will sell its German unit and lay off staff to save cash as it focuses on therapies for Gaucher and Fabry diseases.

Eli Lilly’s Julie Gilmore on finding up-and-coming companies and backing small biotechs

Only a small fraction of the companies Lilly evaluates get into its incubator, according to Gilmore. Here’s how the big pharma selects them.

After $250M Roche buyout, a startup plans a second strike with fresh funding

Backed by the same investors and team as an immunotherapy biotech Roche bought in September, Bonum Therapeutics plans to develop “conditionally” active cancer medicines.

For ImmunoGen, persistence pays off as FDA clears ovarian cancer drug

The approval makes Elahere the first wholly owned medicine the biotech has brought to market in its lengthy history.

Acrivon cuts IPO price to raise $99M for plan to revive old Lilly cancer drug

Acrivon is the 20th biotech company to go public this year, roughly a fifth of last year’s total at this time, and had to sell more shares at a lower price to complete the deal. 

Jnana deepens ties with Roche and grabs a new round of funding

The startup, developing drugs that target an untapped class of proteins called solute carriers, has now formed two lucrative alliances with the Swiss drugmaker since 2020.

Trial failures end latest hope for Roche’s Alzheimer’s drug

Eight years after gantenerumab failed a Phase 3 study, the drug came up short in late-stage testing again, proving unable to meaningfully slow cognitive decline in two closely watched trials. 

Ionis teams with Metagenomi and dives into gene editing

The RNA drug developer is paying the richly funded startup $80 million in a wide-ranging alliance that marks its first foray into DNA editing medicines.

Narcan developer to be acquired by Indivior

The deal, which could carry a total value of roughly $145 million, is in large part focused on a nasal formulation of the opioid overdose drug nalmefene.

Moderna data supports use of omicron booster over original vaccine

New results show the two-pronged booster the FDA cleared in August sparks a stronger immune response against omicron and its subvariants than Moderna’s original shot.