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AstraZeneca’s earnings surprise investors as cancer drugs fuel growth
The British drugmaker has bolstered its business with nearly $5 billion in acquisitions as attention turns to its pipeline of experimental medicines.
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Gene editing
Regeneron expands in gene editing with Mammoth deal
“With each passing year, we're more committed to becoming a serious player in the genetic medicine space,” a Regeneron executive said.
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Biogen: Don’t expect any big acquisitions this year
While the company is eager to diversify, CEO Chris Viehbacher said any near-term dealmaking would likely focus on collaborations and early-stage assets.
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Moderna turns to AI to change how its employees work
An expanded partnership with OpenAI is helping Moderna embed custom-built AI chatbots in a wide range of research and business processes.
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Biogen sees ‘encouraging’ trends for postpartum depression drug
First quarter sales of Zurzuvae doubled consensus estimates, though analysts are skeptical whether the better-than-expected launch will continue.
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CureVac to cut costs in restructuring
The mRNA vaccine maker, which has lost most of its value since early 2021, is undergoing an “organizational redesign” that will eliminate 150 positions.
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Emerging biotech
Endeavor pulls in $132M to back cancer, lung disease drugs
Led by the founder of a biotech Celgene acquired for $7 billion, the startup is developing two prospects that originated in the labs of other drugmakers.
Updated April 24, 2024 -
New Alzheimer's drugs
Biogen to invest more in launch of Alzheimer’s drug Leqembi
Growing demand has convinced Biogen that it's worth expanding the sales force around Leqembi by 30%.
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Novartis raises forecasts as top drug sales beat Wall Street estimates
Sales of Entresto and Cosentyx grew faster in the first quarter than analysts anticipated, helping drive the quarterly beat and raise.
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Former Bristol Myers CEO tapped as Novartis’ next board chair
Giovanni Caforio, who left Bristol Myers in November after eight years as CEO, is set to succeed Novartis’ longtime board chair Joerg Reinhardt next year.
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Neurocrine scores surprise win with depression drug
Shares of the biotech rose about 5% after a medicine licensed from Takeda hit the main and key secondary goals of a mid-stage study focused on major depressive disorder.
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FDA rejects Abeona cell therapy, asks for more manufacturing data
The complete response letter for Abeona’s treatment is one of several manufacturing setbacks for cell and gene therapy developers in recent years.
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Lilly to buy injectable drug plant in manufacturing ramp-up
The acquisition of a Nexus Pharmaceuticals facility in Wisconsin could help Lilly better meet demand for injectable medicines, like those it makes for diabetes and obesity.
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Bristol Myers taps startup to boost cell therapy production
A partnership with Cellares, worth up to $380 million, is meant to help Bristol Myers speed and scale manufacture of CAR-T treatments for cancer.
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Pharmas form joint venture to jumpstart Japanese drug research
A new initiative backed by Takeda, Astellas and Sumitomo Mitsui Banking aims to combat a decade-long decline in drug R&D productivity in Japan.
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Eisai hunts for next Alzheimer’s drug with new research pact
A collaboration with BioArctic will focus on a technology designed to more effectively deliver drugs in the brain, following similar efforts by Roche.
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Ipsen, Skyhawk to develop RNA-targeting pills for rare brain diseases
The deal, which could be worth up to $1.8 billion, is the latest research collaboration involving small molecule drugs that modify RNA.
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Alvotech deal could heighten biosimilar pressure on Humira
The agreement may help Alvotech capitalize on a recent policy shift by CVS that has driven major market share declines for AbbVie’s blockbuster drug.
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Roche wins FDA OK for Alecensa in early lung cancer
Alecensa is the first targeted drug available after surgery for people with ALK-positive lung tumors, who are at high risk for brain metastases.
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Cerevel, in ‘major surprise,’ finds success in late-stage Parkinson’s study
Analysts had low expectations for Cerevel’s drug tavapadon, which was something of an afterthought in AbbVie’s proposed buyout of the biotech.
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Emerging biotech
Metsera, a well-funded obesity drug startup, sees chance to challenge Lilly, Novo
It’s “early innings” in the obesity drug race, said Metsera CEO Clive Meanwell, whose company acquired a portfolio of medicines it aims to test in combination.
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Vertex begins bid for US approval of non-opioid painkiller
The biotech has begun a rolling submission of a closely watched drug that’s important to its future, but faces questions of sales potential.
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23andMe CEO plans to take company private
Company head Anne Wojcicki is considering buying all outstanding shares of the DNA testing firm, which has seen its stock slump in recent years.
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Obesity drugs
Lilly obesity drug shows benefit in sleep disorder study, pointing to new use
Positive data for Lilly’s medicine tirzepatide in sleep apnea are the latest signal the benefits of GLP-1 agonists could extend beyond diabetes and weight loss.
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Sage’s cognition drug fails in Parkinson’s study
Following negative results, the company doesn’t plan to further test SAGE-718 in Parkinson’s. Other studies in Huntington’s and Alzheimer’s remain ongoing.