Here are the latest stories being discussed in biopharma today:
1. Pfizer’s Back to Basics Strategy
Pfizer CEO Albert Bourla emphasized that the company is set to focus on operational execution and margin growth after a challenging 2023 that led to a 44% drop in the firm’s stock. Bourla brushed aside plans for additional cost-cutting, emphasizing that steps taken to rebalance its operation following its Covid period has placed the company in a strong position for growth in 2024.
2. FDA Comments on CAR-T Secondary Cancer cases
Senior FDA official Peter Marks revealed that the FDA views the benefits of CAR-T therapies still outweigh their risks, despite ongoing investigations into cases of secondary blood cancers developing in patients who received these therapies. He underscored that sequencing suggest that a few of the reported cases demonstrate a probable causal relationship between the therapy and the secondary cancer.
3. PhRMA’s Suit Regarding Florida’s Drug Import Plan
Pharmaceutical industry group PhRMA is planning a lawsuit against Florida’s newly authorized Canadian drug import program. Objections to the program stem from concerns over managing sales between markets to optimize profits.
4. Elliott’s Investment Plans for Healthcare
Senior portfolio manager Marc Steinberg of Elliott Investment Management anticipates his firm’s continued engagement in the healthcare sector. Steinberg highlighted that across the healthcare industry, the firm is eyeing strategic investment opportunities in mature large public or private companies.
5. Senate Health Committee’s Investigation into Inhaler Manufacturers
High prices of asthma inhalers have prompted a probe by the U.S. Senate’s Health Committee. The manufacturers under inquiry include AstraZeneca, Boehringer Ingelheim, GSK, and Teva. Senators accuse the companies of utilizing the patent system to maintain market exclusivity and thus inflated prices.
6. Physicians’ Concern Over Vaccine Misinformation
A considerable fraction (65%) of healthcare professionals point to misinformation and conspiracy theories as “major hurdles” to mRNA vaccine adoption, as per a recent survey conducted by ZoomRx. Physicians voice concerns over misconceptions regarding side effects, despite half of physicians surveyed rarely encountering adverse mRNA vaccine reactions.
