Here are the latest stories being discussed in biopharma today:
1. Pfizer’s Paradox: Albert Bourla walks a fine line as he tries to turn around 2023’s worst-performing big drugmaker
What happened to Pfizer? In 2022, the company made Big Pharma history: breaking $100 billion in revenue, thanks to its Covid-19 blockbusters. CEO Albert Bourla became the public face of the drug industry’s pandemic heroism, as he touted plans to bring the “lightspeed principles” from Covid to other diseases. A year later, Pfizer is the worst-performing large pharma stock PFE of 2023, falling nearly 50% and erasing nearly $140 billion in market value.
2. Supreme Court to review limitations on abortion pill
The Supreme Court will review a lower court’s decision to limit the use of mifepristone, a pill commonly used for abortion.
3. Vir downsizes by 12%, will close St. Louis and Portland sites in 2024 to save $40M+ annually
As Vir Biotechnology expands beyond infectious diseases, the biotech will downsize and close two of its US sites to save $40 million or more annually.
4. Senate health committee advances changes to how FDA would approve new opioids
The Senate Health, Education, Labor and Pensions committee on Tuesday afternoon advanced three major bills related to the opioid epidemic and cancer screening, including an amendment that would transform how the FDA regulates opioids.
5. Sanofi’s Mourenx production site leaked a potentially cancerous neurotoxin for the second time
Sanofi’s chemical production facility in Mourenx, France, is under scrutiny again after leaking an excess of the neurotoxin bromopropane, having been temporarily shut down five years ago over the same issue.
6. As pharmas double down on digital and AI, talent is a key consideration, consultant says
With the real-world adoption of artificial intelligence, “the entire business construct is getting reimagined,” said ZS managing partner Mahmood Majeed.
7. PwC predicts active 2024 for pharma deals as M&A value climbs
PwC has declared 2023 a “reasonably strong year” for M&A in the pharmaceutical and life sciences sector and expects that momentum to carry into 2024.
8. Updated: Vertex unveils PhIII plans for non-opioid drug following mid-stage success in peripheral neuropathic pain
Vertex’s non-opioid treatment candidate for acute pain has met the primary endpoint of pain reduction in a Phase II trial in diabetics with neuropathic pain.
9. Editas Medicine pads runway with $50M upfront from Vertex for Cas9 license
As Editas Medicine attempts to catch up to the historic approval of Vertex Pharmaceuticals and CRISPR Therapeutics’ gene-edited sickle cell treatment, the biotech will get $50 million in cash from the pack’s leader.
