🔬 Latest pharma industry updates 👇
🏭 Sanofi plans to invest €1.5 billion in its Frankfurt plant, reversing plans to relocate production to France.
🤝 Eli Lilly and Company invests $140 million upfront in Radionetics Oncology, with an option to acquire the company for $1 billion.
🤝 GSK acquires CureVac's mRNA flu and COVID-19 vaccines for €400 million upfront, with potential payments up to €1.05 billion.
💉 Emergent BioSolutions secures over $250 million from the US for strategic stockpile vaccines and treatments.
💸 Beacon Therapeutics raises $170 million to advance its lead eye disease therapy in clinical trials.
💉Moderna secures $176 million from BARDA to develop a bird flu vaccine using mRNA technology.
💰 Cartesian Therapeutics raises $130 million through PIPE financing and reports positive Phase 2b trial results for myasthenia gravis treatment.
🧠 Eli Lilly and Company's Alzheimer's drug Kisunla® gains FDA approval, offering monthly treatment for cognitive decline, priced at $32,000 per year.
🧐 Multinational companies, including GSK, Bayer, and Sanofi, exit Nigeria due to inflation and currency issues.
🔍 The US FTC investigates Teva Pharmaceuticals for patent misuse, aiming to combat inflated drug prices and promote generic competition.
🧬 The "RNA bridge" could revolutionize genome editing, allowing precise genetic code transfers without scars, surpassing CRISPR-Cas9 limitations.
🦟 Valneva receives EU approval for its single-dose chikungunya vaccine, Ixchiq®, with plans to deliver doses by Q4 2024.
💊 AstraZeneca's sipavibart for COVID-19 prevention receives accelerated evaluation from the European Medicines Agency based on positive trial data.
💔 Sumitomo Pharma announces job cuts in Japan, following US reductions, to improve profitability after losing exclusivity on a key schizophrenia drug.
💔 Ginkgo Bioworks, Inc. cuts 158 jobs, aiming to reduce labor costs by 35% after disappointing clinical results.
👨💼 Robert Michael becomes CEO of AbbVie, succeeding Richard Gonzalez, who now chairs the board.
📊 China leads in future tech investments, outpacing Western democracies in biotech and AI, driven by substantial government subsidies.
🧠 Annovis Bio, Inc.'s Parkinson's drug buntanetap succeeds in late-stage trials, improving motor and cognitive functions, leading to a 38% stock rise.
🏢 Germany adopts a new medical research law, allowing private drug price negotiations, aiming to accelerate market access for innovative products.
⚖️ Novo Nordisk limits Wegovy® launch in China to avoid supply disruptions globally with its current limited production capacity.
❌ Eisai US and Bristol Myers Squibb end their cancer ADC partnership due to portfolio prioritization.