Top Biopharma News for 02/14/2024

Here are the latest stories being discussed in biopharma today:

1. Slow uptake of Leqembi could risk Biogen’s Recovery
The low sales of Leqembi may prove detrimental to Biogen’s recovery plans. The drug, aimed at treating Alzheimer’s, recorded a lowering revenue in its fourth quarter, leading to a significant fall in stock prices. There is also a growing concern about Eli Lilly’s competing drug, donanemab, which is expected to get an FDA decision soon.

2. Biogen hit with subpoenas over Aduhelm launch
The SEC and DOJ have subpoenaed Biogen over the controversial launch of Alzheimer’s drug Aduhelm and its foreign business operations. This comes as the latest addition to the ongoing investigations surrounding the drug and its questionable benefits.

3. China’s WuXi under global scrutiny
Chinese Contract Research Organization, WuXi, faces allegations which threatens its global standing. While the specifics remain undisclosed, the nature of CRO/CDMO relationships means even small issues can have long-lasting impact.

4. Biden administration investigates generic drug shortages
The Biden administration has requested information on potential contributions of group purchasing organizations and drug wholesalers to the ongoing generic drug shortage. The FTC and HHS are keenly focusing on these entities’ practices to see their effects on drug pricing and availability.

5. Sage hopeful despite muted Zurzuvae sales
Sage Therapeutics has reported modest sales for its postpartum depression pill, Zurzuvae, but the company remains hopeful for its prospects. However, there is still no update on major depression plans.

6. AstraZeneca, BMS, McKesson win court case
A Sixth Circuit appeals court has ruled in favor of AstraZeneca, BMS, and McKesson in a lawsuit linking saxagliptin, a type 2 diabetes treatment, to heart failure. The plaintiffs’ expert testimony was deemed “unreliable”, resulting in the case being dropped.