Here are the latest stories being discussed in biopharma today:
1. Bristol Myers Squibb’s BCMA-targeting CAR-T therapy Abecma faces increased competition, accounting for a 40% decline in US sales. The competition in question comes from other BCMA-targeting drugs which have eroded Abecma’s market share. The most significant competition comes from Carvykti, a CAR-T therapy from Johnson & Johnson and Legend Biotech.
2. According to AbbVie executives, real competition for Humira may not arrive until around 2026, despite seeing competition from nine biosimilars priced significantly lower than the brand-name version. AbbVie’s confidence stems from its marketing strategies which have preserved Humira’s market share so far.
3. Six bipartisan senators have released a draft bill proposing several changes to improve the “stability and transparency” of the 340B drug discount program. The reforms aim to clarify the use of contract pharmacies, introduce user fees to assist in program oversight, and address allegations of program abuse by various systems.
4. London-based Hikma Pharmaceuticals has settled claims brought by US states and local governments for $115m over the manufacturing and sale of opioids. In addition to the cash settlement, Hikma will donate $35m worth of the nasal spray, naloxone, which reverses the effects of an overdose.
5. Seven former FDA commissioners have asked the Supreme Court to uphold the FDA’s regulation of the abortion pill, mifepristone. The former commissioners have defended the FDA’s handling of the drug approval process and have warned against the Supreme Court overturning the FDA’s scientific judgment.
6. Regeneron has plans to join the weight loss race in 2024, beginning tests of its muscle-preserving drugs combined with semaglutide, an active ingredient in popular weight loss drugs. The company seeks to address the side effect of muscle loss associated with certain obesity treatments.
7. One of the life sciences’ premier investors, ARCH, is looking to raise $3B for its 13th funding round. The investment will further bolster ARCH’s already impressive portfolio.
8. Unlike Pharmaceutical company Merck, Bristol Myers will focus on bolt-ons rather than M&A (mergers and acquisitions) following its recent buying spree.
