The Latest

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    Deep Dive

    Biotech M&A is accelerating. Track the deals that are happening here.

    Argenx and CorMedix both struck deals on Monday, with the former acquiring peptide drugmaker Unnatural Products and the latter scooping up Heron Therapeutics, which sells medicines for postoperative pain and nausea.

    Updated 5 hours ago
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    Sponsored by Thermo Fisher Scientific

    Translating Phase II success into Phase III readiness takes more than scale

    The move from Phase II to Phase III is often treated as a clinical milestone, when it is actually a development-wide transition.

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    News roundup

    Lilly, Hims reach GLP-1 deal; Alnylam sales chief to step down

    The deal is part of a course change for Hims, which had previously sold knockoff GLP-1 drugs. Elsewhere, a medicine Servier recently acquired failed a key trial and Ultragenyx announced staff cuts.

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    At ASH, drugmakers to showcase early data for three-pronged cancer therapies

    J&J and AbbVie are among the companies advancing “trispecific” antibodies that could become another step forward in treatment for multiple myeloma.

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    Jim Vondruska / Stringer via Getty Images
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    Trump administration

    Biopharma likely to climb higher after ‘blue wave,’ analysts say

    Historical data suggests the sector outperforms after midterm elections. And Democrats, newly in control of Congress, have “bigger fish to fry” than drug pricing, analysts said.

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    Retrieved from Revolution Medicines.
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    Revolution’s Rasonque off to best cancer drug launch ‘in history’

    Wall Street analysts are already resetting projections for Rasonque — but company executives cautioned that it’s too early to draw conclusions about the pancreatic cancer drug’s launch trajectory.

  • An illustration of a bispecific antibody (yellow and orange) binding to two different membrane proteins (purple and blue).
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    Emerging biotech

    T-Therapeutics reloads with a $133M megaround for bispecifics

    The startup is built around technology it claims can help get after known, but undruggable cancer targets and design particularly selective autoimmune disease treatments.

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    Earnings roundup: AstraZeneca’s cost cuts, Alnylam’s slump and Regeneron’s resilience

    AstraZeneca will “redeploy resources” through a new restructuring program. Meanwhile, Alnylam shares sold off on fears surrounding a top drug and investors rewarded Regeneron for a record quarter.

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    Kevin Frayer via Getty Images
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    China competition

    Drugs from China are reshaping biotech. Track the licensing deals here.

    Evommune could pay up to $1.13 billion in a deal for rights to a molecular glue drug, while Caldera Therapeutics snapped up a bispecific antibody aimed at two popular immune disease targets.

    Updated Nov. 6, 2026
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    Kayla Bartkowski via Getty Images
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    Medicare will cut billions from 340B, expand site-neutral payments in 2027

    Regulators finalized a rule Wednesday that would slash payments for drugs in the controversial 340B program and equalize some payments between care sites. Hospitals railed against the rule.

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    Permission granted by Alethio Therapeutics
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    Startup launches

    Alethio raises $90M to target rare blood cancers

    The startup is working on a medicine one of its investors claimed could have a broader reach than other approved drugs for a group of conditions known as myeloproliferative neoplasms.

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    Courtesy of Sanofi
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    Sanofi stops development of Nurix-partnered immune drug

    The decision sparked a sell-off in Nurix shares as well as analyst debate about the prospects of drugs designed to degrade a tough-to-reach protein called STAT6. 

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    Courtesy of Novo Nordisk
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    Obesity drugs

    Novo gets much-needed lift as Wegovy pill tops Wall Street forecasts

    The drug’s third-quarter sales numbers came in well above consensus estimates, widening Novo’s early edge over Eli Lilly in the latest battleground for weight loss medicines.

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    Vertex, ahead of FDA decision, calms fears surrounding kidney drug

    On a conference call, executives expressed conviction in the coming launch of an IgA nephropathy medicine viewed by Wall Street investors as important to Vertex’s future. 

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    Mario Tama via Getty Images
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    CVS to split into two companies in stunning strategic about-face

    The breakup, which will separate Aetna and Caremark from CVS’ retail pharmacies, is an indictment of the dogma that bigger is always better in the healthcare industry.

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    Keytruda biosimilars are coming — but they face an uphill battle

    A patent cliff is fast approaching for Merck’s flagship blockbuster, but the deck might be stacked against its biosimilars gaining widespread traction.

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    News roundup

    UniQure gets an FDA decision date; Teva scraps brain drug study

    The FDA appears likely to hold an advisory committee for UniQure’s closely watched Huntington’s disease gene therapy. Elsewhere, a biotech’s share price was cut in half following a regulatory setback. 

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    Medicare Part D premiums are spiking 50% on average next year, KFF finds

    The health policy think tank urged seniors to shop carefully for prescription drug coverage during Medicare open enrollment, given skyrocketing premiums and wide variance in costs between plans.

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    Karyopharm, deep in debt, to sell itself in bankruptcy

    The parent of cell therapy maker Gamida Cell will be the lead bidder in a court-supervised auction of Karyopharm, which recently cut a forbearance deal to push off debt payments.

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    This week in charts

    This week in charts: ESMO’s winners and losers

    The latest installment in BioPharma Dive’s visualization-focused series looks at Wall Street’s response to a trio of closely watched presentations at a top meeting for cancer drugs.

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    Earnings roundup: Lilly’s unwavering momentum, Novartis’ rebound and GSK’s waiting game

    Lilly’s better-than-expected results allayed concerns — for now — over GLP-1 pricing pressure. Elsewhere, Novartis withstood a tumultuous quarter and GSK battled investor angst.

  • Three people work in Empress Therapeutics' lab.
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    Startup launches

    Flagship blends three biotech startups to form Etcelera

    Etiome, Cellarity and Empress Therapeutics are being combined into one new AI-aided drugmaker claiming to possess the ability to better predict the way new medicines will fare in humans.

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    Permission granted by Actio Bio
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    Startup launches

    With Setara, the team behind Actio opens its second act

    The fledgling startup has $90 million to develop a pipeline of drugs, led by a Charcot-Marie-Tooth disease medicine, that Actio was working on when Jazz Pharmaeuticals bought its lead epilepsy program.

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    IPO window

    Aspen raises a $141M IPO in pursuit of a cell therapy for Parkinson’s

    The San Diego biotechnology startup is one of several firms working on a cutting-edge technique with the potential to slow or even halt the neurodegenerative condition.

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    Anna Moneymaker via Getty Images
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    Labor Department finalizes sweeping PBM disclosure rule

    Starting in 2027, the controversial drug middlemen will have to share a broad swath of fee and compensation data with self-funded employer clients. Employers cheered the rule, while PBMs slammed it as government overreach.

  • U.S. Health and Human Services Secretary Robert F. Kennedy Jr. testifies during a hearing of the House Education And Workforce Committee on Capitol Hill on April 17, 2026 in Washington, DC.
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    Heather Diehl/Getty Images via Getty Images
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    Trump administration

    HHS to allow compounders to make 6 unapproved peptides

    RFK Jr. has given notice that the agency won’t take enforcement action on six peptides that controversially won a contested recommendation from outside advisers to the FDA in July.

    FDA