Here are the latest stories being discussed in biopharma today:

AbbVie’s CEO Succession Planned for July Post-Humira

Rick Gonzalez, current CEO of AbbVie, has successfully defended and even bolstered the drug giant’s reign particularly with Humira, the best-selling drug of all time. As he prepares for retirement in July, he hands over the company’s reins to Robert Michael, AbbVie’s current president and chief operating officer. Michael is well-set to inherit a high-flying stock and two new major deals outlined for AbbVie’s future. This appointment is a sharp contrast to other pharmaceutical companies that typically opt for external hires for top leadership.

Major Drugmakers Band Together to Legally Challenge Government Price Negotiations

Facing lawsuits against the Inflation Reduction Act, four major drugmakers – Bristol Myers Squibb, Novartis, Novo Nordisk, and J&J’s Janssen – have requested for their arguments to be heard collectively in court next month. This strategic maneuver is being challenged by the federal government.

Bayer Announces 95% Dividend Cut as Part of Turnaround Project

In a move to turnaround the company’s fortunes, Bayer’s CEO Bill Anderson has unveiled plans to slash the dividends by a whopping 95%.

Sanofi’s Access to Fabry Disease Drug Subject of Revived Lawsuit

A lawsuit against Sanofi’s Genzyme over access to its Fabry disease drug has been reinstated by an appeals court.

Takeda Embarks on Next Phase to Boost US Profile

In an effort to bolster its US profile, Takeda is preparing for the next phase in corporate restructuring and R&D campaigns.

Chinese API Manufacturer Warned by FDA over QC Concerns

A Chinese API manufacturer has received a strict warning from the FDA after a QC employee cited that test results were ‘in my mind’.

Resilience Puts $225M into Expanding Manufacturing Capacity in Cincinnati

Resilience has allocated $225M to expand its manufacturing capacity in Cincinnati.

WuXi AppTec Subsidiary to Manufacture Iovance’s TIL Therapy

Iovance’s solid tumor TIL therapy will be manufactured by WuXi AppTec’s subsidiary in the US.

AstraZeneca’s Tagrisso Proves Effective in Late-Stage Lung Cancer Study

A late-stage lung cancer maintenance study has found AstraZeneca’s drug, Tagrisso, efficacious.

Biotech’s New Blue-Chip Names Shakeup the $100 Billion Club

New blue-chip names in the biotech sector are driving a shakeup in the prestigious $100 billion club.

FDA gives Thumbs up to Iovance’s Cell Therapy for Melanoma

Iovance’s cell therapy for melanoma, the first treatment based on tumor-infiltrating lymphocytes, has been approved by the FDA.