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Pfizer to raise $31 billion in debt offering to fund Seagen acquisition, SEC filing shows

Pfizer plans to raise $31 billion through a debt offering to fund its proposed acquisition of cancer drug maker Seagen, for what would be its largest takeover since 2009, according to a new filing with the Securities and Exchange Commission. Pfizer expects to complete the $43 billion Seagen buyout later this year or in early 2024. The debt offering is expected to close Friday, according to a prospectus supplement New York-based Pfizer filed with the SEC late Tuesday. The pharma giant’s debt offering would be the biggest since CVS Health sold $40 billion of bonds in 2018 to finance its acquisition of health insurer Aetna. Pfizer’s move comes as other corporations including Apple, T-Mobile and Merck rush to tap the U.S. bond market ahead of a potential spike in borrowing costs sparked by the debt ceiling standoff. Pfizer’s stock price dropped slightly on Wednesday. The company said it will secure ...
- Source: drugdu
- 129
- May 19, 2023
Is Parkinson’s a Military Base’s Toxic Legacy?

F. Perry Wilson, MD, MSCE This transcript has been edited for clarity. Welcome to Impact Factor, your weekly dose of commentary on a new medical study. I’m Dr F. Perry Wilson of the Yale School of Medicine. The thing to realize about this story is that even if it were just a problem for the military, it would be a huge problem. But although this is a story about the military, in the end, it may affect a much larger segment of the population. It’s a story about a military base, Camp Lejeune, and the toxins that leached into the water system there, poisoning the base residents for decades. It is about the most rapidly growing neurologic disease in the country. And it is very much about a simple molecule, trichloroethylene (TCE). TCE was first synthesized in 1864 and quickly became a sensation as an early anesthetic. Less toxic to ...
- Source: drugdu
- 122
- May 19, 2023
A major stem cell variant in lungs of patients with idiopathic pulmonary fibrosis

A pair of internationally renowned stem cell cloning experts at the University of Houston is reporting their findings of variant cells in the lungs of patients with Idiopathic Pulmonary Fibrosis (IPF) which likely represent key targets in any future therapy for the condition. IPF is a progressive, irreversible and fatal lung disease in which the lungs become scarred and breathing becomes difficult. The rapid development and fatal progression of the disease occur by uncertain mechanisms, but the most pervasive school of thought is that IPF arises from recurrent, subclinical lung injury that imparts changes to epithelial and stromal cells, which, in turn, compromise lung repair and favor fibrosis. To dig deeper into the cause of IPF, Frank McKeon, professor of biology and biochemistry and director of the Stem Cell Center, and Wa Xian, research associate professor at the center, used single cell cloning technologies to generate libraries of basal stem ...
- Source: drugdu
- 138
- May 19, 2023
Reduction in neighborhood-related stress leads to improvement in kids’ asthma symptoms

Children whose families participated in a program that helped them move from distressed neighborhoods to areas with lower rates of poverty and better public resources like schools and parks experienced significant improvements in severe asthma episodes, according to a new study led by a researcher at Dell Medical School at The University of Texas at Austin. The study, published today in the Journal of the American Medical Association, involved 123 children, ages 5 to 17, with persistent asthma whose families took part in a six-year housing mobility program in Baltimore. Before moving, for every 100 children, there were approximately 88 severe asthma attacks per year. After moving, there were approximately 40 severe attacks per year, a reduction of more than 50%. In fact, researchers found that the reduction in neighborhood-related stress was responsible for between 20% and 35% of the improvement in asthma exacerbations and symptoms. The number of symptom ...
- Source: drugdu
- 128
- May 18, 2023
Moderna hits back at Alnylam’s ‘baseless’ patent infringement claims

The United States’ COVID-19 health emergency might be over, but vaccine-related lawsuits are moving forward in full force. After Alnylam levied patent infringement claims against Moderna last year, the mRNA specialist is hitting back. In a pair of countersuits, Moderna claims Alnylam “baselessly seeks to profit” from Moderna’s inventions. Alnylam first sued Moderna in March 2022, claiming patent infringement on its so-called ‘933 patent. The patent covers delivery technology that Alnylam says is infringed by Moderna’s popular vaccine Spikevax. Alnylam later claimed violations on another patent that it received in July. The company did not seek to stop sales of the lucrative mRNA vaccine but instead requested damages and royalties. But Moderna isn’t having it. “Alnylam played no role in Moderna’s significant accomplishments,” the company said in a pair of countersuits, filed last week. The Spikevax maker says that it had been pioneering mRNA technologies for a decade before the ...
- Source: drugdu
- 110
- May 18, 2023
Vegan mothers’ breastmilk contains two important nutrients, study finds

A vegan diet does not affect maternal breastmilk concentrations of vitamin B2 and carnitine, nutrients essential for the developing infant. These are the results of an Amsterdam UMC study, presented today at the 55th Annual Meeting of the European Society for Pediatric Gastroenterology, Hepatology and Nutrition (ESPGHAN). Research has found that lactating mothers following a vegan diet compared to mothers with an omnivorous diet showed no difference in the human milk concentrations of vitamin B2 or carnitine, despite these nutrients being found in highest concentrations in animal products. Using a technique that separates a sample into its individual parts and analyses their mass, this study challenges assumptions that vegan diets may not be nutritionally complete and that breastfed infants of vegan mothers may be at an increased risk of developing vitamin B2 or carnitine deficiency. In the last four years, the number of vegans in Europe alone has doubled. Lead ...
- Source: drugdu
- 128
- May 18, 2023
FTC sues to block Amgen’s $28B Horizon buy in alarming sign for biopharma M&A

Just as biopharma’s M&A prospects seemed to be improving, the U.S. antitrust watchdog is putting a damper on dealmaking. The U.S. Federal Trade Commission has filed a lawsuit to block Amgen’s proposed $27.8 billion acquisition of Horizon Therapeutics, the agency said Tuesday. By a unanimous vote among the three Democrat commissioners, the agency is seeking a temporary restraining order and preliminary injunction to prevent the transaction from closing. In an alarming sign for biopharma M&A scrutiny to come, the FTC argues Amgen could leverage its existing product portfolio to “entrench the monopoly positions” of Horizon meds for thyroid eye disease and chronic gout. The antitrust challenge marks the first time that the FTC has reached beyond specific product overlaps in its reviews and instead focused on companies’ past behaviors around drug pricing. It’s an approach that the agency has threatened to implement since 2021 but has only now reared its ...
- Source: drugdu
- 127
- May 18, 2023
`FDA advisory committee backs Sarepta’s Duchenne muscular dystrophy gene therapy

A US Food and Drug Administration’s (FDA) panel of experts has recommended Sarepta Therapeutics’ Duchenne muscular dystrophy (DMD) investigational gene therapy for accelerated approval. The Cellular, Tissue and Gene Therapies advisory committee voted eight to six in support of SRP-9001 (delandistrogene moxeparvovec) as a treatment for ambulatory DMD patients with a confirmed mutation in the DMD gene. DMD is a rare and inherited X-chromosome-linked disease that results in the lack of dystrophin protein, which is required to strengthen and protect muscles. Over time, this causes progressive loss of muscle strength, with most patients requiring full-time use of a wheelchair by their early teens. Eventually, increasing difficulty in breathing due to respiratory muscle dysfunction requires ventilation support, and cardiac dysfunction can lead to heart failure. The disease almost exclusively affects males, occurring in approximately one in every 3,500-5,000 newborn males worldwide. SRP-9001 is designed to address the underlying cause of DMD ...
- Source: drugdu
- 111
- May 18, 2023
Melinta, Xediton partner to commercialise anti-infective products in Canada

Melinta Therapeutics and Xediton Pharmaceuticals have entered an exclusive commercialisation and licensing agreement for four novel anti-infective products. The products include Baxdela (delafloxacin), Vabomere (meropenem and vaborbactam), Orbactiv (oritavancin), and Kimyrsa (oritavancin). Under the terms of the deal, Xediton Pharmaceuticals will handle the registration and commercialisation works of these products in Canada. Melinta Therapeutics president and CEO Christine Ann Miller said: “Xediton shares our commitment to ensure that all patients who need our life-saving therapies can get them. “We are confident that Xediton brings the right amount of energy and experience to effectively bring our novel anti-infective portfolio to market throughout this region.” Baxdela is indicated to treat acute bacterial skin and skin structure infections (ABSSSI) and community-acquired bacterial pneumonia (CABP), which is caused by designated susceptible bacteria in adult patients. Vabomere will be used to treat complicated urinary tract infections (cUTI), including pyelonephritis, that are caused by the susceptible ...
- Source: drugdu
- 102
- May 18, 2023
Pfizer’s maternal RSV vaccine effective at preventing severe infections in newborns, FDA says, but flags potential risk of preterm birth

By Brenda Goodman, CNN CNN — Pfizer’s vaccine to protect newborns from respiratory syncytial virus, or RSV, by vaccinating their moms late in pregnancy cuts the risk that infants will need to see a doctor or be admitted to the hospital with a moderate to severe infection before 6 months of age, according to a new analysis by government regulators. Many parents have been eagerly anticipating this news, particularly after last year’s long and severe RSV season. RSV is a major cause of hospitalization in infants and the elderly each year, and it typically hits hardest during the winter months. Scientists have been working on an effective RSV for young children for roughly 60 years, so there’s plenty of excitement around the prospect of having a candidate get so close to the finish line. But the news isn’t all rosy. Safety data published in an agency analysis Tuesday also showed ...
- Source: drugdu
- 134
- May 18, 2023

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