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