Top Biopharma News for 01/10/2024

Here are the latest stories being discussed in biopharma today:

Sanofi Eyes Next Gen Weight Loss Treatment

Sanofi, which previously missed the boom in the weight loss market after its GLP-1 drug failed a mid-stage trial, may potentially explore next-generation weight loss products. R&D head, Houman Ashrafian, identified genetic signals that hint at the creation of these new treatments. This includes identifying patients who will respond to targeted drugs, improving treatments’ side effects and drugs that could assist underweight or frail patients. However, CEO Paul Hudson clarified that the company isn’t planning on creating a me-too drug.

FDA Can’t be the Sole Regulator for AI in Digital Health

FDA commissioner, Robert Califf, has stated the FDA alone cannot regulate the use of AI in digital health. The understanding comes as AI technologies continue to boom in the digital health field. Califf suggests a need for a committee that can assess AI algorithms, thereby giving assurances that the benefits from AI in digital health outweigh the potential risks.

Still More Financing Sought by Bluebird

Notwithstanding its significant financing agreements, Bluebird Bio’s CEO, Andrew Obenshain, has conveyed the company’s intent to secure more financing from future partners or other sources. This comes as the biotech company looks to turn a profit in the wake of its new gene therapy for sickle cell disease.

Influential Players in Healthcare Market Making Moves

Walgreens’ new CEO, Tim Wentworth, has revealed his plans for the retail pharmacy chain’s survival as a standalone business, countering market expectation for an insurance arm acquisition. Meanwhile, Novo Ventures is set to invest more than $600 million in biotech startups this year, a significant increase from its average yearly investment.

FDA Hints at Expanding Sarepta’s Gene Therapy Label

The FDA seems positive about an expanded label for Sarepta’s Duchenne gene therapy, despite the failure of its confirmatory trials. CBER Chief Peter Marks conveyed expectations for a wider authorization of the therapy. Investors are hopeful as Marks has previously supported the approval of Sarepta’s first DMD drug, despite limited data.