Here are the latest stories being discussed in biopharma today:

House Committee On Chinese Biotech Competition

The House Select Committee has revealed that it will hold a meeting in Boston to discuss Chinese competition in biotech. The announcement follows recent proposals for legislation to ban federally funded providers from conducting business with Chinese biotech enterprises deemed as “companies of concern”

Gilead Ends Last PhIII of CD47 Drug

Gilead Sciences has announced an end to its remaining Phase III study of anti-CD47 antibody magrolimab. This decision was based on increased risk of patient death. As a result, Gilead stated that it will not pursue additional research with this therapy for blood cancers. The company is also reviewing this drug’s safety in ongoing solid tumor trials.

Pharma and PBMs Face Senate Hearing

Before a Senate health committee discussion on high prescription drug costs, pharmaceutical companies and pharmacy benefit managers are already laying blame. The CEOs of Merck, Johnson & Johnson, and Bristol Myers Squibb have been called to testify on why America has the highest prescription drug prices globally.

House Committee Introduces PBM Reform Bill

The House Committee plans to prohibit Pharmacy Benefit Managers (PBMs) from linking their service fees to the list price of drugs. The new legislation—known as the DRUG Act—has passed the committee stage and will next be considered by the House of Representatives.

Genentech’s Campaign for Spinal Muscular Atrophy Awareness

Genentech is heading to Broadway in an effort to promote awareness on spinal muscular atrophy. Creating an original musical comedy with actors, writers, and performers with SMA, the show aims to depict the multifaceted nature of patients. Genentech plans to release the first track of the show during the week of the debut and will promote the show digitally and through social media channels.

EMA Eases Regulation For Biosimilar Developers

The European Medicines Agency (EMA) has released a proposal to ease regulations on biosimilar drug developers. The plan involves re-evaluating the necessity of clinical efficacy studies for all new biosimilars. By doing so, EMA hopes to keep the biosimilar pathway for developers attractive while ensuring access to effective biologics for European patients.