Here are the latest stories being discussed in biopharma today:
Proposed IRA Changes Could Impact Orphan Drugs
The House Committee on Energy and Commerce is currently discussing multiple bills that could affect the Inflation Reduction Act. This includes changes to how Medicare price negotiations are implemented and which drugs are eligible for exemptions. The bipartisan Optimizing Research Progress Hope And New (ORPHAN) Cures Act, one such bill under review, could allow orphan drugs to escape negotiations if they’re exclusively approved for rare diseases. Critics suggest current guidelines could disincentivize drugmakers from pursuing multiple rare disease indications.
Biden Targets Biotech Data Privacy
President Joe Biden has issued an executive order aimed at preventing “countries of concern” from collecting sensitive personal health data, including genomic information. The move comes alongside growing concerns, from both sides of Congress, regarding China’s increasing role in the biotech industry and the associated national security implications.
EuroAPI Plans for Leaner Operations
EuroAPI has announced plans for restructuring, committing to 2024 as a “year of transition”. This includes discontinuing API assets, potential layoffs, and the mothballing or divestiture of sites. Their plans also include focusing on the production of profitable peptides and oligonucleotides, vitamin B12, and prostaglandins.
Pharma Lagging Behind Healthcare in AI Adoption
According to a recent study by Berkeley Research Group, the utilization of artificial intelligence in the pharmaceutical industry lags behind the healthcare sector. However, expectations are that AI usage in the pharma industry will increase significantly within the next three years.
Sandoz Agrees to $265M Settlement in Antitrust Lawsuit
Sandoz and its subsidiary, Fougera Pharmaceuticals, will pay $265 million to settle an antitrust case brought against them. The company did not admit any wrongdoing and is continuing to defend itself in ongoing cases.
Biden Administration Invests in AI to Identify Rare Disease Drugs
The Biden Administration has allocated $48 million to the nonprofit organization Every Cure. The funding will be used over the next three years to develop machine learning and artificial intelligence platforms to identify new treatments for rare diseases by repurposing existing medications.
Belharra CEO Shares Insider View on Building a Biotech
Jeff Jonker, the CEO of Belharra Therapeutics, recently shared insights on the trials and successes of establishing a biotech company in a new podcast.
