🔬 Latest pharma industry updates 👇
🤝 Sanofi to potentially invest over $1 billion in a partnership with Novavax to market Nuvaxovid and explore combined flu/Covid vaccines.
💵 Novo Nordisk to invest up to $600 million in Metaphore Biotechnologies for new GLP-1 receptor drugs.
💡 Sanofi gathers banks for potential divestiture of its consumer health division, potentially worth over $20 billion.
🧐 Shah Capital, owning 7.5% of Novavax, urges a leadership change, claiming the company's technology would perform better under larger pharmaceutical management.
💔 Kenvue plans to reduce its global workforce by 4% by 2026 following its split from Johnson & Johnson.
💵 Royalty Pharma buys rights to ImmuNext's autoimmune disease drug frexalimab from Sanofi for $525 million.
🔄 Takeda announces a major restructuring to improve profit margins, including workforce reorganization and pipeline reduction.
💵 Zenas BioPharma raises $200 million for Phase 3 trials of obexelimab, targeting multiple sclerosis and lupus.
💵 AstraZeneca completes an additional $140 million investment in Cellectis, gaining 44% equity and 30% voting rights.
💔 Job cuts continue in the San Francisco Bay Area's pharma sector, notably affecting Genentech and Abbott, amidst ongoing industry restructuring.
🔍 The FTC is seeking more details on Novo Holdings' $16.5 billion acquisition of Catalent Pharma Solutions. Both parties are cooperating with the FTC, aiming to close by late 2024
📈 Sandoz reports a 5% increase in Q1 net sales, driven by strong biosimilar performance, including adalimumab and growth hormone products.
😢 A young boy participating in a Pfizer gene therapy trial for Duchenne muscular dystrophy has unexpectedly died, cause of death is still under investigation.
🧐 Amneal Pharmaceuticals settles opioid crisis lawsuits for over $270 million, including $92.5 million in cash and $180 million in naloxone nasal spray.
📉 Moderna shares drop 4% as FDA delays review of its RSV vaccine until end of May due to administrative reasons.
🤝 Maze Therapeutics licenses Pompe disease drug to Shionogi Inc. (U.S.) for $150 million, after a previous deal with Sanofi was halted by FTC.
🔄 Pfizer appoints Andrew Baum as executive vice president and chief of strategy and innovation.