Vertex plan to build on pain drug breakthrough hits hurdles

The drugmaker shed billions of dollars in value after it told investors that widening Journavx’s approval to chronic pain would take more testing. A successor medicine, meanwhile, fell short in Phase 2.

Gates Foundation pledges $2.5B to women’s health research

The investment, which the foundation says is its largest in women’s health, will support research in maternal health, obstetric care and sexually transmitted infections, among other areas.

A brain biotech slumps even with ‘best case’ seizure data

Positive results from a mid-stage study apparently weren’t enough to raise investor confidence in Praxis Precision Medicines and its experimental drug for epilepsy.

Xoma strikes deals to buy struggling biotechs HilleVax, Lava

The royalty aggregator’s proposed deals for HilleVax and Lava add to a pattern of “zombie” biotech buyouts this year as the sector’s struggles continue.

Drugmakers score policy win in fight against 340B

A new pilot program from HHS will test alterations to the contentious 340B pricing program by swapping traditional upfront drug discounts for rebates.

Regeneron cancer bispecific rejected again; Allogene discloses trial death

The FDA issued a complete response letter for Regeneron's lymphoma drug odronextamab. Elsewhere, Bristol Myers raised its guidance and analysts saw progress in Biogen’s turnaround.

In rumored AbbVie deal, Wall Street sees momentum for psychedelics M&A

A potentially billion-dollar acquisition of Gilgamesh Pharmaceuticals suggests big pharma may finally be willing to place significant bets on psychedelics.

Trump redoubles threats in attempt to strongarm drugmakers on prices

The White House set a 60-day deadline for drugmakers to agree on “most favored nation” prices for Medicaid as well as for newly launched drugs.

US to install country-specific tariffs Aug. 7

An executive order President Trump signed Thursday codifies rates for over 60 trading partners, including Switzerland. A probe into pharmaceuticals that’s expected to result in sectoral tariffs remains ongoing.

Alnylam reaches new highs on strong sales of closely watched rare disease drug

Despite battling drugs from BridgeBio and Pfizer, Amvuttra beat Wall Street expectations with results Alnylam’s CEO claimed were “not a flash in the pan.”

Moderna to lay off 10% of workforce in ‘difficult but necessary step’

In a memo, CEO Stéphane Bancel said the job cuts are needed to align the struggling vaccine maker’s cost structure with the “realities of our business.”

Experts ousted from CDC panel warn of damage to US vaccine policy

The 17 advisers fired in June by Robert F. Kennedy Jr. urged alternatives to ACIP be organized to limit further degradation in vaccine guidelines.

Lilly’s Mounjaro protects heart health in large diabetic study

The fast-selling GLP-1 drug matched Lilly's older medicine Trulicity in a closely watched cardiovascular outcomes trial, while showing greater weight loss and blood sugar control.

Venture firm Frazier closes $1.3B fund for early-stage biotech investing

Frazier was among the most active venture investors in 2024, according to analysts at William Blair, backing 17 private life sciences companies.

Vinay Prasad’s ouster leaves biotech guessing at FDA direction

The abrupt exit of the former CBER director raises questions about the FDA’s leadership. For now, newly appointed CDER head George Tidmarsh will take over Prasad’s post.

Updated July 30, 2025

J&J tests direct CAR-T marketing with first Carvykti ad

The new direct-to-consumer ad signals J&J’s confidence in its capacity to meet demand for the cell therapy after earlier manufacturing struggles.

Updated July 30, 2025

Madrigal buys into GLP-1 from CSPC; Apellis wins expanded drug approval

Hong Kong-based CSPC will receive $120 million from Madrigal under the deal. Elsewhere, Apellis and PTC Therapeutics won FDA approvals.

Vinay Prasad, controversial FDA official, abruptly departs agency

Prasad's exit ends a tumultuous tenure during which he led a reworking of agency guidelines on COVID vaccines and his office got embroiled in controversy over a Duchenne gene therapy.

Novo cuts guidance, names new CEO as obesity drug challenges mount

Knockoff copies of Novo’s weight loss medicine Wegovy have held back sales and put the drugmaker on the back foot in its competition with rival Eli Lilly.

Merck plans spending shift to boost business beyond Keytruda

Facing an end to Keytruda's market exclusivity, the company will cut $3 billion in costs that it plans to redeploy in support of newer drugs and R&D.