Here are the latest stories being discussed in biopharma today:
Pfizer Sets Enthusiastic Goals for Cancer Pipeline
Pfizer has announced an ambitious vision for the future of its cancer portfolio. The pharmaceutical giant hopes to deliver at least eight oncology blockbuster drugs by 2030, following the $43 billion acquisition of the antibody-drug conjugate developer Seagen. CEO Albert Bourla assured investors at the company’s recent cancer innovation day that Pfizer’s comprehensive oncology plan, including an anticipated increase in the percentage of biologics in their portfolio from 6% to 65% by 2030, will balance out its declining Covid sales.
AstraZeneca’s Court Loss in IRA Price Negotiations Case
A federal judge in Delaware has given the Biden administration the upper hand over AstraZeneca in a lawsuit around the Inflation Reduction Act’s drug price negotiations. The judge’s opinion dismissed AstraZeneca’s constitutional challenge, referring to the company’s Medicare participation as voluntary and the prices dictated by the government. AstraZeneca expressed disappointment over the ruling.
Arrakis Therapeutics Cuts 20% of Staff
Arrakis Therapeutics has made a strategic move to prioritize programs and cut its headcount by about 20%. The company hopes to dedicate its resources towards RNA-targeted small molecule medicines. CEO Michael Gilman expressed gratitude to the affected staff for their contributions.
J&J’s Rybrevant Receives Full Approval For Expanded Use
The FDA has granted full approval to Johnson & Johnson’s (J&J) Rybrevant for the frontline treatment of locally advanced or metastatic non-small cell lung cancer (NSCLC) with particular mutations.
UK Grants First Reciprocal Drug Approval
The UK’s Medicines and Healthcare products Regulatory Agency (MHRA) has given its first post-Brexit reciprocal drug approval, authorizing a new formulation for Amgen’s bone drug Xgeva via the International Recognition Procedure. The decision took only 30 days and was supported by findings from the European Medicines Agency.
Valneva’s Chikungunya Vaccine Recommended for Expanded Use
The CDC’s Advisory Committee on Immunization Practices (ACIP) has recommended expanded use for Valneva’s Chikungunya virus vaccine. It endorses administration for adults traveling to outbreak areas, factory workers with potential exposure, and older individuals likely to have moderate exposure to mosquitoes.
