Biopharma M&A is on an uptick compared to the post-pandemic doldrums of the last two years. Analysts anticipate that the trend will continue in 2023 and into 2024 as companies attempt to beef up their portfolios.During second quarter earnings calls, many heavy-hitters—including Johnson & Johnson, Bristol Myers Squibb and Merck—expressed urgency in their quest for deals. With so many buyers in competition, sellers are finding offers that are more attractive. For example, Merck’s $10.8 billion proposal to acquire Prometheus in April came at a 75% premium. In July, Biogen’s $7.3 billion deal for Reata represented a 59% markup. “There’s been such a consistent pick up in momentum in anything above a billion [dollars],” Cody Powers, an M&A expert with ZS Principal, said in an interview. “I think we’re back on the gravy train of where we were a couple of years ago in terms of premiums.” In 2019, the industry ...
IBM has announced a data breach of Janssen’s CarePath platform and has started informing affected customers. The Janssen CarePath portal provides patients and healthcare professionals in the US with information regarding insurance coverage, out-of-pocket costs, and prescribing information at no cost to the users. The number of highest grossing Janssen drugs are included in the platform such as Darzalex (daratumumab) and Stelara (ustekinumab) which generated $2.5bn and $3.2bn in US sales in H1 2023, respectively, as per the company’s Q2 2023 financial report. Data breaches at the top pharma companies are nothing new, as companies such as Merck & Co (MSD), Roche, and AstraZeneca have all been hacked in the past. Data breaches cost the companies an average of $5m to remediate, as per IBM’s 2020 data breach report. The Janssen CarePath systems provider, IBM, indicated that the stolen data may have contained information provided as part of the Janssen ...
By Claire Jarvis Pictured: Close-up of an arm receiving a blood draw/iStock, montiannoowong Prior to the approval of effective therapies for Alzheimer’s disease, there was little need for biomarker tests. Now, with Eisai and Biogen’s anti-amyloid drug Leqembi on the market and approval of Eli Lilly’s donanemab expected to follow soon, the pipeline of Alzheimer’s drugs is expanding and the development of tests to detect the disease is accelerating. With Leqembi’s full approval, the Centers for Medicare and Medicaid Services (CMS) has instituted broader coverage of the drug—with stipulations. To ensure reimbursement, physicians must participate in a qualified registry and patients must be diagnosed with mild cognitive impairment or mild Alzheimer’s disease dementia with evidence of beta-amyloid deposits. To help facilitate this, CMS proposed in July 2023 to increase its coverage of PET scans to detect these amyloid plaques—however, cheaper and faster diagnostic methods are still being developed. The past ...
Sage Therapeutics will reduce its workforce by 40% following the US Food and Drug Administration’s (FDA) rejection of its drug Zurzuvae (zuranolone) in adults with major depressive disorder (MDD). The US-based company will pause some undisclosed early-stage programs and focus instead on the refinement of its compounds SAGE-718 and SAGE-324, per the 31 August announcement. Sage’s leadership will also change with the departure of the current chief scientific officer (CSO) Al Robichaud and the chief development officer (CDO) Jim Doherty. The restructuring comes at a time when the company plans the commercial launch of Zurzuvae for treating postpartum depression which is expected in late 2023. On 4 August, the FDA approved Zurzuvae’s use in women with postpartum depression while simultaneously issuing a complete response letter (CRL) for the treatment’s use in MDD. The CRL stated that the drug’s application did not provide substantial evidence of effectiveness in MDD and that ...
Enterome is planning to raise EUR100m ($108m) as part of its latest fundraising round to power its clinical studies, said CEO Pierre Belichard in an interview with Pharmaceutical Technology. The company has already started speaking to investors in Europe and plans to start contacting those in the US in early September, he said. The funding will go towards the company’s clinical trials, which include two new Phase II studies, said Belichard. Enterome’s E02463 is an off-the-shelf immunotherapy that is made of four bacterial peptides of B lymphocyte-specific lineage markers. These peptides are based on the company’s OncoMimics approach, which uses specific peptide combinations derived from bacteria in the gut microbiome. The company had previously raised EUR 46.3m as part of its Series E round, based on a June 2020 release, while Belichard added that Enterome has raised EUR 116m to date. While Enterome is not actively looking to go public ...
With its blockbuster eye drug Eylea, Regeneron is already juggling between a recent FDA rejection and new competition. Meanwhile, biosimilar players are also eying a piece of the pie. Tuesday, Novartis’ Sandoz said its biosimilar to Eylea showed no clinically meaningful differences with the originator in a phase 3 trial in patients with wet macular degeneration. The two versions were therapeutically equivalent in improving the best vision that patients can achieve. Sandoz now expects to file the Eylea biosimilar in the U.S. and EU in the coming months. The Sandoz drug is only the latest copycat to be closing in on Eylea. Viatris was the first to file an Eylea biosimilar in the U.S. in 2021. That asset now belongs to Biocon Biologics through a $3 billion transaction. In addition, the partnership between Formycon and Coherus BioSciences filed its biosimilar in June, followed on the heels by a separate filing ...
Amylyx Pharmaceuticals’ amyotrophic lateral sclerosis (ALS) drug Relyvrio continues to wow Wall Street. Approved in the U.S. as Relyvrio and in Canada under a different brand name, the drug brought in $98.2 million in revenue during the second quarter, Amylyx said Thursday. The haul topped analysts’ consensus estimates of below $92 million, according to Mizuho Securities. Having annual revenue now tracking at $400 million after just four quarters of commercialization is no easy feat, Mizuho analyst Graig Suvannavejh, Ph.D., said in a Friday note. Besides, a strong balance sheet—Amylyx had $357 million cash as of June—means the company “faces no existential need to raise capital—an increasingly daunting challenge given a difficult equity capital markets environment,” he said. The beat was fueled by better-than-expected pricing discounts, according to Suvannavejh. New patient starts actually slowed. By the end of June, Relyvrio added 800 more patients compared with the end of March, bringing ...
By Tristan Manalac Monday, Quest Diagnostics launched the AD-Detect Test, a direct-to-consumer blood test designed to catch abnormal levels of the beta-amyloid protein to assess a patient’s risk of developing Alzheimer’s disease. According to Quest, AD-Detect is the first direct-to-consumer blood-based biomarker test for Alzheimer’s disease, though the company is quick to point out that it is not a diagnostic test. “Only a physician or healthcare professional can provide an Alzheimer’s disease diagnosis,” the company said in its announcement. “The risk of having Alzheimer’s disease as the underlying cause for mild cognitive impairment (MCI) or dementia should be considered in conjunction with the findings from medical and family history, physicals, nutritional deficiency biomarkers, neurological and neuropsychological examinations, and neuroimaging,” according to Quest. AD-Detect works by measuring two types of beta-amyloid biomarkers in the blood and determining the beta-amyloid 42/40 ratio, a validated tool used to assess a patient’s risk of ...
Pictured: Doctor checking a patient’s neck/iStock, stefanamer ADC Therapeutics is discontinuing the Phase II LOTIS-9 trial testing Zynlonta (loncastuximab tesirine-lpyl) in combination with Genentech and Biogen’s Rituxan (rituximab) for patients with previously untreated diffuse large B-cell lymphoma, the company announced Thursday afternoon. The decision to discontinue comes after the Swiss biotech decided last week to voluntarily halt enrollment in LOTIS-9 after seven patients died of extreme respiratory events. While six of the fatalities were deemed “unlikely or unrelated to the study drug,” the company nevertheless elected to suspend the entry of patients into the study. In connection with the deaths, the FDA has also placed a partial clinical hold on enrollment into LOTIS-9, according to ADC’s Thursday press release. However, the company can continue dosing diffuse large B-cell lymphoma (DLBCL) patients who were seeing clinical benefit from the experimental treatment regimen, as long as these patients have given their consent again. Once ...
Alzheimer’s disease patients in the earliest stages of their disease benefited the most from Eli Lilly drug donanemab, which is expected to receive an FDA decision by the end of 2023. Full results from the drug’s pivotal study were presented during the during the Alzheimer’s Association International Conference. Eli Lilly has submitted its Alzheimer’s disease drug candidate for FDA review, and the pharmaceutical giant is now revealing a more complete look at the clinical data supporting an application that could make the therapy the second anti-amyloid antibody to win full regulatory approval. Lilly had previously said its drug, donanemab, led to a 35% slowing in the decline associated with Alzheimer’s. Those results were for patients with intermediate levels of tau, another protein that’s also characteristic of Alzheimer’s progression. In patients with low-to medium-levels of tau, representing an earlier stage of the disease, treatment with the Lilly drug led to a ...
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