Today, a brief rundown of news from Novo Nordisk and Argenx, as well as updates from Sanofi, Johnson & Johnson and Ultragenyx Pharmaceutical that you may have missed.
Novo Nordisk on Monday officially launched in the U.S. the pill version of its popular weight loss drug Wegovy. Negotiations with the Trump administration led Novo to price a starter dose at $149 per month for some Medicare beneficiaries and those willing to pay cash. The drug’s website shows that the $149 price will apply to the 1.5 milligram and 4 milligram doses until April 15, after which the higher of the two doses will cost $199. Monthly supplies of a 9 milligram and 25 milligram dose, meanwhile, are priced at $299. People with commercial insurance could pay as little as $25 per month out of pocket, Novo said.
Dutch biotech Argenx will swap CEOs, announcing Monday that leader Tim Van Hauwermeiren will become board chair in May 2026 as part of a planned leadership transition. Once the change is effective, current COO Karen Massey will succeed Van Hauwermeiren and take over what's in recent years become one of the industry's most valuable companies thanks to the fast-selling autoimmune drug Vyvgart. Despite the pending CEO switch, Argenx "is in a position of strength" with that drug on track for more than $4 billion in 2025 revenue, "sustainable profitability and a strong balance sheet," wrote Stifel analyst Alex Thompson.
Sanofi on Dec. 24 agreed to pay $15.50 per share, or about $2.2 billion, to acquire vaccine developer Dynavax Technologies. The deal hands Sanofi a marketed hepatitis B vaccine for adults and a shingles shot that’s currently in early-stage testing. Dynavax’s hepatitis B shot, Hepsilav-B, is administered in two doses over the course of a month, which is supposed to provide higher levels of protection more quickly than other available vaccines. The deal is a “smart strategic move” for Sanofi, giving the company one vaccine with a 46% share of its addressable market and another candidate in the “large and durable” business for shingles shots, wrote Leerink Partners’ David Risinger.
That same day, however, the FDA also rejected Sanofi’s experimental multiple sclerosis drug tolebrutinib. The agency had previously delayed a decision on tolebrutinib, which was being evaluated for non-relapsing secondary progressive multiple sclerosis. And Sanofi had said in mid-December that more guidance would come from the agency sometime in the first quarter of 2026. However, the FDA instead turned back tolebrutinib, which Sanofi research chief Houman Ashrafian referred to in a statement as a “significant and meaningful change in direction” from previous feedback. The rejection represents the latest setback for tolebrutinib, which has failed studies in two other kinds of multiple sclerosis. Jefferies analyst Michael Leuchten also wrote that he expects a “hit to sentiment and questions on management credibility,” given Sanofi’s previous statements about the drug.
A dual-targeting antibody drug from Johnson & Johnson fell short in a mid-stage study in moderate to severe atopic dermatitis. On Dec. 26, J&J said that, upon an interim data check, the therapy, JNJ-95475939, didn't meet the company's "high bar" for efficacy and the trial was stopped early. J&J inherited the drug when it paid $1.25 billion to acquire a spinout of Numab Therapeutics, claiming at the time that the treatment had the potential to provide "distinctive benefits" versus existing atopic dermatitis treatments like Dupixent and Rinvoq.
Shares of Ultragenyx Pharmaceutical and Mereo Biopharma both plummeted following disappointing results for a drug they've been developing for a rare bone disease. On Dec. 29, Ultragenyx said the drug, setrusumab, failed the main objective of two studies in osteogenesis imperfecta, proving unable to reduce the rate of bone fractures over the course of a year compared to a placebo or active comparator. Ultragenyx said it intends to cut costs, and will provide more specifics early this year. Its shares were nearly cut in half, while Mereo's stock hurtled downward nearly 90%. The negative outcome was "surprising" given the drug's results in Phase 2, wrote Leerink's Joseph Schwartz.
