Pharma News
04 Feb 2024 to 10 Feb 2024
Feb 10, 2024
Incyte secures complete ownership of lymphoma medication - Delaware Business Now
Incyte has entered into an agreement with MorphoSys to acquire exclusive global rights for tafasitamab, marketed as Monjuvi in the U.S. The deal gives Incyte complete control over the development and commercialization of tafasitamab, allowing for cost synergies and operational efficiency. Under the agreement, MorphoSys will receive a payment of $25 million from Incyte. Tafasitamab is approved in the U.S. for the treatment of relapsed or refractory Diffuse large B cell lymphoma (DLBCL) in combination with lenalidomide. Incyte's Jakafi is its blockbuster drug used to treat blood cancers.
Feb 9, 2024
Pharmaceutical CEOs, facing tough questioning from Senate panel, decline to promise reductions in prices - Yahoo Finance
The CEOs of three major drugmakers, Bristol Myers Squibb, Johnson & Johnson, and Merck & Co., defended the prices of their drugs in a Senate committee hearing. They argued that Americans have earlier access to cutting-edge medicines compared to countries with lower drug prices. The executives declined to commit to price cuts, citing differences in healthcare systems and the need to support innovation. The CEOs expressed support for legislation to reduce patients' out-of-pocket spending and permit drugmakers to offer discount cards to Medicare enrollees. Senators criticized drugmakers for blocking price competition from generics and biosimilars.
Feb 9, 2024
Examining the Mechanism of Pharmaceutical Patent Term Compensation in China
China has implemented new rules and guidelines for the patent law, including the introduction of a pharmaceutical patent term compensation system. This system allows for the extension of patent terms for new drugs that have been approved for marketing in China. The compensation period can be up to five years, with a total effective patent term not exceeding 14 years after marketing approval. The scope of compensation includes patents for new drug products, methods of preparing drugs, and medical use, but does not cover veterinary drugs, pesticides, or medical devices.
Feb 9, 2024
Takeda Reports Positive Results for Narcolepsy Drug in Phase II Trial - Bloomberg Law Reports
Takeda Pharmaceutical’s drug candidate, TAK-861, has proven to be effective and safe in treating type 1 narcolepsy in a mid-stage study, moving it to the final stage of clinical trials. The drug showed significant improvement in patients without any serious adverse events reported. Takeda is relying on TAK-861 to help offset the potential sales decline expected when its ulcerative colitis drug, Entyvio, loses patent protection.
Feb 9, 2024
In the presence of Bernie Sanders, pharmaceutical executives justify their pricing strategy
CEOs from Johnson & Johnson, Merck, and Bristol Myers Squibb defended the prices of their drugs during a Senate health committee hearing. Lawmakers criticized the companies for charging higher prices in the US compared to other countries and accused them of profiting at the expense of patients. The executives acknowledged that drug prices in the US are often higher but stated that new medications arrive in the country faster. The hearing coincided with the implementation of a federal program allowing Medicare to negotiate drug prices.
Feb 9, 2024
Q4 2023 Earnings Report Reveals Prominent Rise in GLP-1 Drug Sales Amid COVID-19 Crisis
Pharmaceutical companies Johnson & Johnson, Bristol Myers Squibb, and AbbVie have all exceeded expectations in their fourth-quarter 2023 earnings, reporting strong sales of key products. However, Sanofi and Novartis fell short of Wall Street's projections due to various factors, including high expenses and generic competition. Eli Lilly and Novo Nordisk continue to see success with their diabetes and weight-loss drugs, exceeding revenue expectations. Despite these positive results, stock prices have not seen significant increases.
Feb 8, 2024
Otsuka's Abilify Maintena faces declining sales as patent expiration of its dual drug looms
The blockbuster drug Abilify Maintena, developed by Otsuka Holdings, is expected to face a decline in sales with the loss of market exclusivity in Europe and the US in October 2024. The introduction of generic versions will likely lead to increased competition and lower prices, resulting in a projected decline in sales from $1.5bn in 2024 to $459m by the end of 2029. Otsuka is preparing for this market shift by focusing on the development of new and longer-acting versions of the drug.
Feb 8, 2024
AstraZeneca CEO Pascal Soriot shows support for UK as company's profits surge
AstraZeneca's CEO, Pascal Soriot, has stated that while the UK has become a more attractive place to do business, further improvements are needed to boost investment in innovation. Soriot praised the government's tax policies and efforts to facilitate clinical trials but emphasized the need for ongoing progress. AstraZeneca's profits more than doubled in 2023 due to strong sales of cancer treatments, with cancer drug sales accounting for 40% of revenues. However, the company's shares fell as Q4 results did not meet expectations.
Feb 8, 2024
Growing Criticism Emerges Regarding Biden Proposal to Obtain Drug Patents
Pharmaceutical industry leaders, as well as former Trump and Obama administration officials, are urging the Biden administration to reconsider a plan that would allow the government to seize patents on drugs when their cost reaches a certain point. Critics argue that the approach misinterprets existing laws and threatens the development of innovative and life-saving drugs. Over 500 comments were filed by the February 6th deadline, with various groups and individuals expressing concerns about the proposed framework.
Feb 8, 2024
Senate committee questions pharmaceutical company executives about high costs of prescription drugs
The CEOs of Bristol Myers Squibb, Johnson & Johnson, and Merck were grilled by a Senate committee led by Sen. Bernie Sanders over the high prices of prescription drugs in the U.S. compared to other countries. The executives defended their drug pricing and spending, blaming drug-pricing middlemen for the increasing list prices. Sanders released a report earlier this week, stating that drug companies charged American patients and taxpayers more for prescription drugs than other wealthy nations, emphasizing their spending on non-research items like stock buybacks and executive compensation.
Feb 8, 2024
Senate Committee Questions Pharmaceutical Representatives Regarding Issues with Drug Pricing in the United States - IP Watchdog
Pharmaceutical CEOs testified before the U.S. Senate Committee on Health, Education Labor & Pensions, discussing high drug prices and patents. Senator Bernie Sanders challenged pharmaceutical companies on their spending priorities and questioned drug pricing disparities between the U.S. and other countries. The role of patents in maintaining high drug prices was also a focus of the hearing. The Leonard D. Schaeffer Center for Health Policy & Economics suggested that implementing European-style pricing policies could decrease Americans' life expectancy. The U.S. Chamber of Commerce criticized the hearing as political grandstanding.
Feb 8, 2024
AstraZeneca reports a significant increase in cancer drug sales, reaching $18.4bn
AstraZeneca has raised profit expectations for 2024 as revenues from cancer drugs increased by 21% to over $18.4 billion in 2023. Sales of lung cancer drug Tagrisso, leukaemia drug Calquence, and diabetes medication Farxiga contributed to the company's strong performance. The pharmaceutical company also reported high demand for the respiratory syncytial virus vaccine and certain treatments for rare blood disorders. AstraZeneca projects further double-digit growth in 2024, driven by the adoption of its medicines globally. The company's revenue in China also increased by 16% in the final quarter of 2023.
Feb 8, 2024
China becomes the initial country to grant approval for Roche's PNH medication, crovalimab - Fierce Pharma
China has become the first country to approve Roche's paroxysmal nocturnal hemoglobinuria (PNH) drug crovalimab, a subcutaneous competitor to AstraZeneca's infused treatments Soliris and Ultomiris. Crovalimab, which is self-administered every four weeks, has shown promising results in phase 2 and 3 trials. Roche has also submitted for approval in the U.S., Europe, and Japan. The approval presents a significant market opportunity, as Soliris generated $3.2 billion in sales in 2023.
Feb 7, 2024
2024 Holds Exciting Prospects for Advancements in Oncology Pharmaceuticals
Merck & Co Inc reported strong fourth-quarter revenue and earnings driven by its cancer drug Keytruda and HPV prevention vaccine Gardasil. However, the company recorded a net quarterly loss due to charges related to a deal with Daiichi Sankyo. Merck's patent for Keytruda is set to expire in 2028, prompting the company to look for new revenue sources in the oncology space. Smaller player Mainz Biomed announced impressive results for its colorectal cancer screening solution ColoAlert® and the opening of its European Oncology Lab. Merck and Moderna have seen promising results from the combined treatment of Keytruda and an experimental cancer vaccine, while Mainz Biomed has revolutionized colorectal cancer screening.
Feb 7, 2024
Amgen's earnings call buzzing with enthusiasm over obesity drug excitement
Amgen's experimental obesity drug, AMG 133, has attracted significant attention from analysts and investors. The drug, which targets GLP-1, a gut hormone that regulates insulin secretion and signals satiety, has the potential to compete with weight loss medications from Novo Nordisk and Eli Lilly. Estimates for the GLP-1 drug market have soared, with some predicting total sales to reach $100 billion. AMG 133 has shown promising results in a Phase 1 trial, reducing body weight by up to 15% when given monthly. However, analysts have raised concerns about side effects and lipid measurements.
Feb 7, 2024
Amgen's earnings call reveals an intense interest in obesity medication
Amgen's experimental drug, AMG 133, which has shown promise as a treatment for obesity, has garnered significant interest from Wall Street analysts. The drug has advanced to the Phase 1 stage of human testing and has demonstrated the ability to reduce body weight by up to 15% in a high dose, with weight loss sustained over several months. However, the drug also has caveats, such as high participant drop-out rates and gastrointestinal side effects. Analysts are particularly interested in how AMG 133 compares to competing weight-loss medications from Novo Nordisk and Eli Lilly.
Feb 7, 2024
ABC Columbia reports that Medicare has begun engaging in negotiations for costly medication prices.
Medicare begins negotiations with drugmakers for cost of 10 expensive medications. Senator Bernie Sanders criticizes high drug prices in US compared to other countries.
Feb 7, 2024
Experts predict that GSK's position in the battle against RSV will be strengthened through the expansion of their label.
GlobalData analysts suggest that GlaxoSmithKline's (GSK) recent push to expand the label of its respiratory syncytial virus (RSV) vaccine, Arexvy, will strengthen its position against Pfizer in the adult RSV market. GSK submitted applications to both the European Medicines Agency and the FDA to expand the label to cover the prevention of RSV disease in adults aged 50 to 59 years. GSK's filings position them as the first RSV vaccine manufacturer to access this population, but Pfizer is also conducting trials for its rival vaccine, Abrysvo, in high-risk patients.
Feb 6, 2024
Novartis Acquires MorphoSys for €2.7 Billion in Order to Obtain Cancer Medications - Yahoo Finance
Novartis has agreed to acquire MorphoSys for €2.7 billion ($2.9 billion) as part of its strategy to bolster its drug pipeline through acquisitions. MorphoSys, a German biotech company specializing in cancer treatments, will be purchased for €68 a share in cash. Novartis CEO Vas Narasimhan aims to drive growth following a substantial restructuring of the business, and the acquisition of MorphoSys is his biggest deal since the $9.7 billion takeover of Medicines Co. in 2019.
Feb 6, 2024
Eli Lilly surpasses expectations with impressive Zepbound launch and increased Mounjaro prices
Eli Lilly reported better-than-expected Q4 revenue and adjusted earnings, driven by strong sales of its weight loss drug, Zepbound, and higher prices for its diabetes treatment, Mounjaro. Zepbound, approved by the FDA in November, generated $175.8 million in sales for the quarter. Eli Lilly expects Zepbound to become the biggest drug of all time and forecasts full-year adjusted earnings of $12.20 to $12.70 per share. The company also anticipates demand for its incretin drugs, including Mounjaro and Zepbound, to outpace supply in 2024.
Feb 6, 2024
Eli Lilly reports impressive performance with the successful launch of Zepbound and significant revenue growth from Mounjaro.
Eli Lilly's new weight loss drug, Zepbound, has exceeded expectations, contributing to the company's strong fourth-quarter revenue and adjusted earnings. Zepbound, approved by US regulators in November, generated $175.8 million in sales. Analysts predict it could become the biggest drug of all time, potentially surpassing a billion dollars in sales in its first year. Despite supply shortages and side effects, weight loss drugs have seen increased popularity. Eli Lilly's full-year forecast for 2024 aligns with expectations, with projected revenue of $40.4 billion to $41.6 billion.
Feb 6, 2024
WHDH: Medicare engages in price negotiations for a medicine priced at $7100 in the US versus $900 in Canada.
Senator Bernie Sanders has released a report highlighting the vast price differences of three blockbuster drugs between the US and other countries. Bristol Myers Squibb's Eliquis, Johnson & Johnson's Stelara, and Merck's Keytruda have significantly higher annual list prices in the US compared to Japan, Canada, Germany, the UK, and France. The report comes ahead of a hearing in which the CEOs of the three pharmaceutical companies will testify. Medicare has initiated negotiations with drugmakers for the cost of certain medications, aiming to address the disparity in drug pricing between countries.
Feb 6, 2024
Eli Lilly Records Impressive Quarter with Surge in Sales of Obesity Medication
Eli Lilly, the largest pharmaceutical company in the US, has reported fourth-quarter earnings per share of $2.49, beating Wall Street estimates and driven by strong sales of its new weight loss drug, Zepbound. The drug brought in $175.8 million in sales during the quarter and is expected to generate over $1 billion in sales in its first year. Additionally, Eli Lilly's blockbuster diabetes drug, Mounjaro, also contributed to the company's strong performance with sales of $2.21 billion. However, the company is struggling to keep up with the demand for both drugs.
Feb 6, 2024
Eli Lilly Exceeds Fourth Quarter Revenue Expectations, Generates $9.35 Billion in Sales
Johnson & Johnson announced a new partnership with Pfizer to develop a COVID-19 treatment. The drug will use a combination of J&J's antiviral drug and Pfizer's mRNA-based vaccine technology. The collaboration aims to create an effective treatment against emerging variants and provide an additional option for patients worldwide.
Feb 6, 2024
Hospital doctors warned of potential consequences if they prescribe medications from outside sources
Doctors from Puducherry have developed a new drug delivery system for administering drugs to the brain. Using the maxillofacial route, they successfully delivered levodopa to a Parkinson's disease patient during a dental procedure. Patents for this invention have been granted in India, the US, and Australia.
Feb 6, 2024
AlzeCure Receives Exclusive Access to New Preclinical Data on ACD856
Swedish pharmaceutical company AlzeCure Pharma has announced that preclinical data on its lead drug candidate, NeuroRestore ACD856, has been accepted for presentation at the AD/PD 2024 conference. The data shows that ACD856 selectively potentiates certain signaling pathways, promoting nerve cell communication without affecting pain signaling. The drug also improves memory and synaptic plasticity. AlzeCure plans to continue developing ACD856 for Alzheimer's disease treatment.
Feb 5, 2024
Companies creating popular weight loss medications are utilizing "patent thickets" as a tactic to safeguard their products...
Manufacturers of GLP-1s are aggressively using complex patent thickets to protect their products more than older drugs, according to researchers at Harvard University. The researchers found numerous patents in the FDA's Orange Book that were unrelated to the active drug product, a strategy they claim goes beyond what has been done with other combination products like insulin pens and inhalers.
Feb 5, 2024
JAMA Network Reports Patent Applications for Delivery Devices of GLP-1 Receptor Agonists in Law and Medicine
The US FDA has approved many glucagon-like peptide 1 (GLP-1) receptor agonists for treating type 2 diabetes and weight management. These drugs are typically sold as a combination of active ingredients and delivery devices, creating patent thickets and delaying generic competition.
Feb 5, 2024
FDA Strikes Blow to Amgen's Popular Drug - Report by Los Angeles Business Journal
Amgen Inc. received both bad news and a positive development at the start of the year. The Food and Drug Administration has placed a "boxed warning" label on the drug Prolia, which is used to treat osteoporosis, due to the risk of dangerously low calcium levels for advanced kidney disease patients. On a more positive note, Amgen has partnered with Nvidia Corp. to develop artificial intelligence models for the discovery of biomarkers and precision medicine therapies. Prolia is Amgen's second highest-selling drug but is expected to face generic competition next year.
Feb 5, 2024
Demand Spurs Shortage of Eli Lilly's Diabetes Medication Mounjaro Yet Again
Eli Lilly & Co's diabetes drug, Mounjaro, commonly used off-label for weight loss, is facing a shortage due to increased demand. Higher doses of the drug will have limited availability through early March. The company expects intermittent backorders of higher doses over the next month. Lilly and rival Novo Nordisk have been struggling to maintain supplies of their diabetes drugs amid high demand. Both companies are investing in increasing production capacity.
Feb 5, 2024
Novo Holdings Acquires Catalent in a $16.5B Deal; Also Divests Three Sites to Novo Nordisk for $11B
Novo Holdings has agreed to acquire contract development and manufacturing organization (CDMO) Catalent for $16.5 billion. The acquisition will allow Novo Nordisk to meet the growing demand for its obesity drug Wegovy and diabetes drug Ozempic. Novo Nordisk will also acquire three fill-finish sites from Catalent for $11 billion upfront. The sites are located in Indiana, Belgium, and Italy and employ over 3,000 people. The acquisition is expected to be completed by the end of 2024, subject to regulatory approvals.
Feb 4, 2024
Biogen to discontinue sales of its contentious Alzheimer's medication, Aduhelm - dtnext
Biogen has announced that it will stop selling its Alzheimer’s treatment Aduhelm and end a study needed for full approval from the FDA. The drug, initially launched in 2021, was expected to generate billions in sales, but faced challenges due to weak evidence of its effectiveness and restricted insurance coverage. Biogen will now focus on other Alzheimer’s treatments and is helping sell another treatment called Leqembi. Patients taking Aduhelm through the commercial market can continue until November. Biogen's decision could open the door for a potential Alzheimer's drug from Eli Lilly and Co., currently under FDA review.
