Here are the latest stories being discussed in biopharma today:

Biogen Ceases Sales and Development of Alzheimer’s Drug Aduhelm

Biogen has decided to discontinue sales and development of Aduhelm, a controversial Alzheimer’s drug that faced criticisms regarding its cost and effectiveness. Instead of officially withdrawing the drug from the market, Biogen has handed it over to its original owner, Neurimmune. This move effectively terminates Aduhelm in its current form, with Biogen absorbing a one-time charge of $60 million in the fourth quarter.

Novartis Axes PhIII Blood Cancer Drug and Raises Caution on Obesity

Novartis is suspending a blood cancer program for its TIM-3 drug, marking the end of a once-promising pursuit. The Swiss pharmaceutical giant looks to focus on 110 projects in clinical development, down from the previous 115. Meanwhile, Novartis refrains from comment on earlier rumors regarding its potential acquisition of heart drug developer Cytokinetics.

Vaxcyte Announces $750M Public Offering

Vaxcyte is looking to raise $750 million in public offering funding, representing one of the largest instances in recent biotech memory. The move complements the company’s efforts to compete against Pfizer, Merck, GSK, Sanofi, and other drug manufacturers in the pneuomococcal vaccine market.

Federal Program to Use Outcomes-Based Agreements for Sickle Cell Therapies

Starting next year, the Centers for Medicare and Medicaid Services (CMS) plans to test a payment model based on patient outcomes for multimillion-dollar gene therapies. The model provides Medicaid programs with the means to afford high-cost, high-science treatments.

Halia Therapeutics Raises $30m Series C for Inflammatory Disease Drugs

Halia Therapeutics plans to use its $30m Series C funding to develop HT-6184, a candidate therapeutic targeting the NLP3 inflammasome, a protein complex linked to inflammatory diseases. The funding will advance the candidate through Phase II trials.

GSK Reports Blockbuster Sales for RSV Vaccine

GlaxoSmithKline (GSK) reported sales of £1.2 billion in 2023 for its respiratory syncytial virus (RSV) vaccine, Arexvy, establishing its status as a blockbuster product. With only 11% of US adults over 60 years of age vaccinated against RSV, GSK sees potential for further growth for Arexvy.