Pharma News
13 Oct 2024 to 19 Oct 2024
Oct 18, 2024
Eli Lilly partners with OAC initiative to combat discrimination against obesity - Fierce Pharma
Eli Lilly has partnered with the Obesity Action Coalition (OAC) to create a collection of images that aim to combat weight bias and stigma against people with obesity. The "Stop Weight Bias" campaign seeks to provide more accurate and respectful portrayals of individuals with obesity, challenging the common comedic or disparaging depictions often seen in the media and healthcare settings. The bias-free image gallery, including photos and videos, is available for use by the media, healthcare professionals, and non-profit organizations. The campaign aims to reshape public perception of obesity and promote more respectful media coverage.
Oct 18, 2024
Committee for Medicinal Products for Human Use recommends the approval of Novo Nordisk's hemophilia drug - MedWatch
Danish pharmaceutical company Novo Nordisk receives a positive recommendation from the expert panel CHMP for concizumab, despite facing setbacks in the US. The company will provide additional data as requested.
Oct 17, 2024
Novartis fails to prevent generic version of popular heart medication - HealthLeaders
Pharmaceutical company Novartis has been unsuccessful in preventing the approval of a generic version of its heart failure drug, Entresto, by the US FDA. The generic, produced by MSN Pharmaceutical, has been approved despite minor labeling differences and alleged variations between the drugs. However, the launch of the generic may still face legal obstacles.
Oct 17, 2024
Judge Rules FDA can authorize more affordable generic version of heart-failure medication Entresto
FDA judge approves generic version of heart-failure drug Entresto, despite Novartis' appeal. Johnson & Johnson scraps pipeline assets including Alzheimer's and Parkinson's candidates, while a study shows that people with HIV can safely receive donated kidneys from deceased donors with HIV. Lab-grown blood vessels by biotech Humacyte could change trauma treatment, helping patients with circulatory-system problems.
Oct 17, 2024
Lundbeck purchases Longboard Pharmaceuticals in a $2.6 billion transaction - according to outsourcing-pharma.com
Lundbeck has agreed to acquire Longboard Pharmaceuticals in a $2.6 billion deal, gaining access to Longboard's pipeline of drug candidates for neurological and rare diseases. The lead asset, bexicaserin, is in late-stage development for the treatment of developmental and epileptic encephalopathies. Lundbeck aims to expand its drug development pipeline focused on brain diseases through this acquisition. Bexicaserin has shown anti-seizure effects and has blockbuster potential, with estimated global peak sales of $2 billion. The deal is expected to close by the end of the year.
Oct 16, 2024
Analysts anticipate strong sales performance for Urogen's potential treatment for bladder cancer
Urogen Pharma's bladder cancer drug, URGN, is expected to generate more than $1 billion in sales in the United States, according to brokerage firm Oppenheimer. The U.S. Food and Drug Administration has accepted the marketing application for URGN's experimental drug, UGN-102, to treat a type of bladder cancer. The decision by the FDA is expected by June 13, 2025. Despite a slight decline in share prices, analysts remain positive about the drug's efficacy and potential market size.
Oct 16, 2024
Learn how to create a successful launch from an AstraZeneca executive.
AstraZeneca's type 2 diabetes drug Farxiga is predicted to generate $7.4 billion in sales next year, according to an analysis by Citeline. The drug has already achieved blockbuster status, generating nearly $6 billion in sales in 2023, and has expanded its indications to treat chronic kidney disease and heart failure. Citeline's report highlights the importance of targeting multiple indications, reaching blockbuster sales within three years, and developing drugs in-house for success in the market. However, commercializing a drug past the $1 billion sales mark is challenging, with more drug launches failing than succeeding.
Oct 16, 2024
Financial firms are predicting strong sales for Urogen's new potential treatment for bladder cancer.
Brokerages are predicting blockbuster sales for Urogen Pharma's under-review bladder cancer drug, UGN-102. Oppenheimer expects the drug to generate over $1 billion in sales in the US, while Guggenheim sees it as a key value driver for Urogen. The drug's marketing application has been accepted by the FDA, with a decision to be made by June 13, 2025. U.S.-listed shares of Urogen are down marginally, but analysts believe this is due to a standard review process rather than any concerns.
Oct 16, 2024
Novartis fails in attempt to prevent generic version of popular heart medication
Novartis has lost a bid to block the US approval of a generic version of its bestselling heart failure drug, Entresto. The company had alleged differences between the generic and Entresto, but a US District Judge ruled in favor of the US Food and Drug Administration's decision to approve the generic. Novartis has stated that it disagrees with the ruling and will appeal the decision. Entresto generated over $6 billion in revenue for Novartis last year.
Oct 15, 2024
J&J increases its profit and sales estimates, surpasses predictions from financial analysts on Wall Street - Yahoo Finance
Johnson & Johnson has raised its profit and sales forecasts for 2024 after reporting strong sales of its oncology drugs and better-than-expected quarterly results. Sales of Johnson & Johnson's cancer drugs rose nearly 19% driven by sales of its multiple myeloma treatment Darzalex, which generated over $3 billion for the quarter. The company also expects its psoriasis drug Stelara to face competition from biosimilar versions in the US from 2025, causing sales to decline to $7 billion that year.
Oct 15, 2024
FDA gives the green light to Stelara biosimilar from Dong-A ST
Dong-A-ST's biosimilar Imuldosa (ustekinumab-srlf/DMB-3115), a counterpart to Stelara, has gained approval from the FDA. The drug, which is used to treat autoimmune diseases such as plaque psoriasis, psoriatic arthritis, Crohn’s disease, and ulcerative colitis, generated $10.86 billion globally in 2023. Dong-A-ST and Meiji Seika Pharma collaborated on the development of Imuldosa, and the rights for research, development, and commercialization were transferred to Dong-A ST in 2020. Accord BioPharma, a subsidiary of Intas Pharmaceuticals, submitted the biologics license application, which was accepted by the FDA in October 2023.
Oct 15, 2024
Lilly's Omvoh surpasses J&J's Stelara in direct comparison during Phase III Crohn's Disease study
Eli Lilly has presented long-term data from its Phase III VIVID-1 study, showing that its anti-inflammatory antibody, Omvoh, demonstrated better histologic response compared to Johnson & Johnson's Stelara in patients with Crohn's disease. These findings support Lilly's efforts to expand Omvoh's label for the treatment of Crohn's disease and ulcerative colitis. Stelara, a widely used drug, faces potential competition not only from Omvoh but also from biosimilars such as Selarsdi and Pyzchiva.
Oct 15, 2024
Sales of cancer drugs exceed estimates, boosting J&J ahead of Wall Street's projections - AOL.com
Johnson & Johnson has raised its profit and sales forecasts for 2024 following strong sales of its oncology drugs. Sales of the multiple myeloma treatment Darzalex rose by over $500 million from the previous year. The pharmaceutical company's profit forecast for the year has been increased by 10 cents per share, while sales are expected to reach between $89.4 billion and $89.8 billion. However, J&J's blockbuster psoriasis drug Stelara saw a 6.6% drop in sales to $2.68 billion. The company's cancer cell therapy Carvykti exceeded sales expectations at $286 million.
Oct 15, 2024
Longboard Pharmaceuticals' Stock Price Surges Following Acquisition of Controlling Stake by Lundbeck A/S
Danish pharmaceutical company H. Lundbeck has announced its largest-ever acquisition, agreeing to buy U.S.-based Longboard Pharmaceuticals for $2.6 billion. The deal aims to enhance Lundbeck's portfolio by acquiring the epilepsy treatment bexicaserin. With the acquisition priced at a 54.2% premium to Longboard's stock price, Lundbeck is positioning itself to capture a larger share of the neurological treatments market, particularly targeting Developmental and Epileptic Encephalopathies.
Oct 15, 2024
The Ministry of Food and Drug Safety plans to prohibit the obesity medication "Wigobi" in the near future.
Danish pharmaceutical company Novo Nordisk plans to crack down on illegal sales and advertising activities related to its obesity drug, "Wigobi," which has started accepting orders in Korea. The Ministry of Food and Drug Safety will closely monitor safety and intensify efforts against illegal online sales and advertising. The drug, which is a GLP-1-based obesity treatment, can only be sold by pharmacy owners and should be used under medical supervision. The ministry will also establish a monitoring team to address any side effects and promote safety measures.
Oct 14, 2024
Lundbeck to acquire Longboard Pharma for a deal worth US$2.6 billion, as reported by The Business Times
Danish pharmaceutical company H Lundbeck is set to acquire Longboard Pharmaceuticals in a $2.6bn deal that will expand its drug pipeline for brain diseases. Lundbeck will pay $60 per share in cash to Longboard shareholders, with the deal expected to close in Q4 2021. The acquisition will boost Lundbeck's development pipeline in neuro-rare conditions, particularly with Longboard's main drug in development, bexicaserin, which shows promise in treating rare and severe epilepsies.
Oct 14, 2024
The antiviral drugs market is expected to reach $89.68 billion by 2033, with a compound annual growth rate (CAGR) of 3.9%.
The global antiviral drugs market is projected to experience significant growth, with an expected CAGR of 3.9% between 2023 and 2033. The market is driven by increasing prevalence of viral infections and the demand for effective antiviral treatments. Development of new drugs and advancements in research and technology are expected to contribute to market growth. However, factors like high cost of R&D and therapy and government austerity are potential threats. The market is dominated by products such as didanosine, zidovudine, lamivudine, and stavudine, with HIV/AIDS therapy sales accounting for over half the market share.
Oct 14, 2024
GSK announces new drug has potential to treat prevalent nasal condition
GSK's experimental drug, Depemokimab, has shown positive results in two late-stage trials for treating chronic rhinosinusitis with nasal polyps. The drug helps reduce nasal obstruction and polyp size, benefiting patients with this common inflammatory condition. GSK's stock rose slightly following the news, as Depemokimab is considered a crucial element of the company's growth strategy.
Oct 14, 2024
FDA is set to review prohibition on custom-made versions of weight loss medication, according to a report by Reuters
The U.S. FDA is reconsidering its decision to ban drug compounders from selling their own versions of Eli Lilly's weight loss and diabetes drugs. The FDA will review whether there is a shortage of the drugs' active ingredient. The decision came after a lawsuit from the Outsourcing Facilities Association, putting the case on hold. Shares of Hims & Hers, which offers compounded weight loss drugs, have risen 10%.
Oct 14, 2024
Astellas takes legal action to protect patent of cancer medication from generic drug makers in the UK
The UK High Court has upheld a patent owned by The Regents of the University of California and licensed to Astellas for the active ingredient enzalutamide in its prostate cancer drug Xtandi. The court rejected claims of invalidity due to lack of inventive step. This is a rare decision as UK courts typically do not uphold pharmaceutical patents in their entirety. Parallel proceedings are ongoing in Europe. It is unclear whether generics manufacturers will appeal the decision.
Oct 14, 2024
Amgen's stock price drops after Truist downgrades rating to 'hold' citing increased competition for experimental skin disease treatment.
Shares of Amgen fell 1% after Truist Securities downgraded the stock to "hold" from "buy" due to the highly competitive landscape for its experimental drug, rocatinlimab, which aims to treat atopic dermatitis. While the drug showed promise in a late-stage study, it still fell short of already approved drugs in the market. Truist analysts raised their price target but highlighted concerns about the drug's safety profile. The brokerage also expects mid-stage data for Amgen's obesity drug, MariTide, to align with prior data.
Oct 14, 2024
Lundbeck to acquire Longboard, a company specialized in brain drug development, for $2.6 billion, according to BioPharma Dive.
Danish drugmaker Lundbeck is set to acquire biotech company Longboard Pharmaceuticals for $2.6 billion. The deal will give Lundbeck access to Longboard's experimental brain medicine, bexicaserin, which has the potential to treat developmental and epileptic encephalopathies (DEEs). Lundbeck estimates the peak annual sales potential of bexicaserin to be between $1.5 billion and $2 billion. The acquisition will strengthen Lundbeck's neuro-rare franchise and contribute to its growth in the next decade. Bexicaserin is expected to enter the market in late 2028 and has patent protection until 2041.
Oct 14, 2024
FDA will review its ruling on prohibiting compounded forms of Lilly's weight loss medication
FDA rethinks decision to prevent drug compounders from selling their own versions of Eli Lilly's weight loss and diabetes drugs, allowing compounding pharmacies to continue providing the cheaper drugs while reviewing potential active ingredient shortages.
Oct 14, 2024
Lundbeck from Denmark invests $2.6 billion in Longboard for epilepsy drug research
Danish drugmaker H Lundbeck A/S will acquire Longboard Pharmaceuticals for $2.6 billion, aiming to enhance its portfolio with a potential blockbuster epilepsy drug. This deal marks Lundbeck's largest acquisition to date.
