Here are the latest stories being discussed in biopharma today:
Lilly terminates Verzenio’s Phase 3 trial in prostate cancer
Pharmaceutical giant Eli Lilly has terminated CYCLONE-2, a Phase III trial of cancer drug Verzenio in patients with castration-resistant prostate cancer, following its failure to improve progression-free survival. This second negative verdict follows an earlier trial where Verzenio also failed to achieve the overall survival mark in advanced breast cancer. Verzenio generated $3.86 billion in sales for Lilly in 2023.
Novartis acquires MorphoSys for $2.9B
Novartis will acquire MorphoSys in a deal worth $2.9 billion, which will give the Swiss company a cancer drug nearing regulatory filings. Novartis CEO, Vas Narasimhan, recently showed interest in acquiring external pipelines for less than $5 billion. The deal is approved by both companies’ boards and is anticipated to close in H1 2024.
Ultragenyx reveals promising data for new surrogate biomarker
Ultragenyx Pharmaceutical has revealed data potentially supporting a new surrogate biomarker for Sanfilippo syndrome type A (MPS IIIA), a rare disease with no approved treatments. The study explores an AAV gene therapy’s ability to reduce a specific harmful protein buildup in the brain and cerebrospinal fluid, offering a potential treatment option for MPS IIIA, which often kills patients before they turn 20.
Rallybio downsizes, laying off employees and eliminating programs
Rallybio, a biotech company specializing in rare diseases, has laid off 19 employees and dropped several preclinical programs in collaboration with other entities. More information about the laid-off positions and terminated programs is yet to be disclosed.
Amgen enters weight loss market with success
Amgen has entered the weight loss market with a drug that shows a 14.5% weight reduction, potentially giving it a competitive edge. Further details about the new drug and its market positioning have not yet been released.
Nomad Health lays off its staff
Healthcare staffing startup, Nomad Health, has announced layoffs to its staff. The specifics of the releases and reasons for the layoffs are not yet known.
