π¬ Latest pharma industry updates π
π Trump signs order linking U.S. drug prices to lowest foreign rates, aiming for 30-80% cuts; pharma may increase global prices to compensate losses.
π Takeda plans $30B U.S. investment over 5 years but strongly opposes Trump's "most favored nation" pricing policy, calling it detrimental to innovation.
π Sanofi commits at least $20B U.S. investment by 2030 and as well emphasizes continued commitment to Europe.
π° Pathos AI raises $365M Series D to advance AI-driven cancer drug pipeline, notably in prostate and solid tumors.
β Novo Nordisk CEO Lars Fruergaard JΓΈrgensen departs amid companyβs sharp stock decline (50% loss in 12 months).
π CytomX Therapeuticsβs ADC shows promising Phase 1 colorectal cancer data (28% ORR), raising $100M for PROBODY pipeline.
π Roche announces $550M expansion of Indianapolis glucose sensor facility and Β₯2B investment in Shanghai biopharma plant.
π° AZAFAROS B.V. secures β¬132M Series B funding, advancing nizubaglustat into Phase 3 for rare metabolic conditions.
π Galapagos reconsidering plans to split company amid market challenges; exploring strategic alternatives after major stock decline.
β GSK and ITeos halt TIGIT immunotherapy belrestotug after Phase 2 lung cancer trial failure.
π€ OpenAI launches HealthBench, AI model evaluation tool in healthcare, surpassing competitors in realistic clinical interactions..
π€ GSK invests $1.2B upfront in Boston Pharmaceuticalsβs experimental liver fibrosis drug efimosfermin.
π€ Novo Nordisk partners with Septerna ($2.2B deal) to develop oral therapies targeting GPCRs for obesity, diabetes, and cardiometabolic diseases.
π Jiangsu Hansoh Pharmaceutical Group Co., Ltd. plans $1.27B secondary listing in Hong Kong exchange.
π Incannex Healthcare Inc surges (+866%) after completing patient dosing in Phase 2 obstructive sleep apnea study.
β Cancer biotech Affimed files for insolvency; trading to halt May 20 after failing to secure funding or partnerships.
πΈ Abeona Therapeutics sells FDA priority review voucher ($155M), crucial for its financial turnaround.
β¬οΈ U.S. overdose deaths fell 27% in 2024, lowest in 5 years, driven by 37% drop in fentanyl deaths due to Biden-era naloxone initiatives.
𧬠First custom CRISPR gene therapy administered to infant with rare metabolic disorder CPS1; promising results published in NEJM.
π FDA delays Biohavenβs rare disease drug approval, plans advisory committee review; shares drop ~15%.
π° AbbVie invests $335M in RNAi therapies with startup ADARx Pharmaceuticals Inc.
π€ BioMarin Pharmaceutical Inc. acquires rare disease biotech Inozyme Pharma ($270M).
π Allogene Therapeutics cuts 28% workforce, reduces manufacturing and delays clinical trials (lymphoma, autoimmune).
π Kyverna Therapeutics cuts 16% staff, prioritizing cell therapy for autoimmune conditions.