Here are the latest stories being discussed in biopharma today:
Title: Latest Healthcare Market News: Corporate Ventures, New Leadership, Surrogate Endpoints, and More
1. Regeneron Pharmaceuticals recently announced a $500 million corporate venture capital fund, reaffirming the essential role of corporate venture funds in early-stage biotech developments. The fund, intending to invest $100 million annually for five years, aims to support the growth of the next generation of biotech companies.
2. Post the Karuna Therapeutics-Bristol Myers Squibb merger, former Karuna CEO, Bill Meury has assumed the role of CEO at Anthos Therapeutics. Anthos, a spin-out from Novartis, is engaged in developing a genetically engineered blood thinner aimed at reducing stroke and clot risk.
3. In recent healthcare news, researchers are urging the FDA to increase transparency in its use of surrogate markers as primary endpoints in non-oncology trials. By providing clarity on surrogate endpoints used, FDA can align standards of theoretical health benefits across various disease areas.
4. Albert Seymour, ex-executive at Homology Medicines, has been hired as CEO of Seamless Therapeutics. Despite challenges in the gene editing field, the budding German biotech company has been making strides in programming recombinases to transform fragments of DNA.
5. A working paper from the National Bureau of Economic Research suggests that marketing payments to cancer clinicians lead to increased drug prescriptions. However, these payments do not bring an improved patient outcomes, thus triggering a call for transparency.
6. Cardinal Health’s distribution contract with pharmacy benefits manager OptumRx will not be renewed after June end. The contract has been won by McKesson, a development that is expected to usher in additional drug volumes and earnings growth for McKesson.
7. Pfizer’s research operations at a Colorado site acquired from Array Biopharma deal are set to be closed down. Further details on this development are awaited.
8. In a recent partnership deal, pharmaceutical giant Boehringer Ingelheim has teamed up with Ochre Bio to carry out advanced research in chronic liver disease.
In other news, Takeda has achieved a label expansion for its subcutaneously administered drug, Entyvio, offering more flexibility for Crohn’s disease patients. This week, investors and industry observers are keenly watching out for Novartis, Roche, and Biogen’s forthcoming quarterly reports.
