🔬 Latest pharma industry updates 👇
💰 Novartis acquires Kate Therapeutics for up to $1.1B to enhance gene therapy pipeline in DMD, FSHD, and DM1.
📉 Barclays predicts challenging 2025 for European pharma sector but remains positive long-term, favoring AstraZeneca and Novo Nordisk.
🏛️ President-elect Trump picks surgeon Martin Makary to lead FDA.
🤝 Novartis partners with Ratio Therapeutics, potentially paying up to $745M, to develop radiopharmaceuticals targeting SSTR2 for cancer treatment.
🤝 Kyowa Kirin Co., Ltd. pays Kura Oncology, Inc. $330M upfront for rights to leukemia drug ziftomenib; potential $420M in milestones.
🦠 Global measles cases rise by 20% in 2023 to 10.3 million due to insufficient vaccination.
💰 Canadian fund Brookfield considers €7B bid for Grifols, which denies financial misreporting allegations; stock down 30% since January.
💉 Bavarian Nordic's 2025 order book for mpox and smallpox vaccines reaches €320M.
🚀 FDA supports accelerated approval path for REGENXBIO's Duchenne muscular dystrophy gene therapy.
💉 Merck's subcutaneous Keytruda matches infused version in Phase 3 study; plans to discuss data with regulators as it lags behind competitors.
🟢 Syndax Pharmaceuticals secures FDA approval for Revuforj, the first menin inhibitor, for patients with aggressive acute leukemia.
🤝 Aclaris Therapeutics, Inc. licenses 2 antibodies from Biosion for over $40M upfront, up to $900M in milestones; shares rise 55%.
💔 Sandoz to cut 10% of its workforce in France after agreement with employee unions.
📉 Incyte halts testing of one drug and discontinues another from Escient Pharmaceuticals acquisition, impacting diversification plans.
😞 Sage Therapeutics discontinues development of dalzanemdor (SAGE-718) after failing mid-stage trial in Huntington's disease.
💔 Johnson & Johnson and Merck announced job cuts in China due to increased competition from domestic companies.
🤝 Samsung Biologics signs $668M manufacturing contracts with unnamed European pharma; total contracts for 2024 exceed $4B.
💉 FDA grants accelerated approval to Jazz Pharmaceuticals' Ziihera for HER2-positive biliary tract cancer; Phase III study ongoing.
💔 Lexicon Pharmaceuticals, Inc. Pharmaceuticals cuts 60% of workforce, eliminates commercial operations after FDA cites deficiencies in NDA for Zynquista.
🚫 Halozyme, Inc. withdraws €2B bid for Evotec after refusal to engage; private equity firm Triton acquires 10% stake, exploring buyout.
🦠 Mpox epidemic overwhelms hospitals in Kinshasa, DRC with quarantine zones saturated and ongoing public hospital strike.