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Today's Rundown

Sanofi wanted to dump Translate Bio in April, but the mRNA biotech prevailed for a $3.2B deal instead
Novavax taps Sanofi, Supernus vets amid quest to get its COVID-19 vaccine over the FDA finish line
Here are 3 major policy areas that health industry groups are closely watching in $3.5T infrastructure bill
The 7-year itch? Boehringer culls $600M cancer pact with CureVac, heaping more woe to the biotech
Recro Pharma takes manufacturing business ‘bi-coastal’ with $50M deal for CDMO Irisys
Thermo Fisher’s COVID tests snare FDA green light for detecting Delta and other variants
UnitedHealth, Change Healthcare enter timing agreement with DOJ over megamerger
Investors are tripping on psychedelics startups despite a murky path to commercial success
Hims & Hers Q2 revenue climbs 69% as company invests in more specialty care, international expansion
UPDATED: Pfizer, Eli Lilly and J&J roll out COVID-19 vaccination rules as delta makes case for mandates
Oscar Health expanding its footprint for the 5th straight year

Featured Story

Sanofi wanted to dump Translate Bio in April, but the mRNA biotech prevailed for a $3.2B deal instead

By Kyle LaHucik

Sanofi was prepared to dump a quarter of its holding in Translate Bio in April—which the mRNA biotech agreed to. So how, exactly, did the French pharma end up buying Translate for $3.2 billion two weeks ago? Under-the-hood details of the deal were revealed in a Securities and Exchange Commission filing disclosed by Translate Monday.

Novavax taps Sanofi, Supernus vets amid quest to get its COVID-19 vaccine over the FDA finish line

By Fraiser Kansteiner

Novavax's new SVP of quality assurance, Nasir Egal, Ph.D., hails from Sanofi, while Jim Kelly, Novavax’s new chief financial officer and treasurer, comes from Supernus Pharmaceuticals. Novavax will channel the execs’ quality and commercial know-how toward its experimental COVID-19 vaccine, which it plans to file for a U.S. emergency nod in the fourth quarter.

Here are 3 major policy areas that health industry groups are closely watching in $3.5T infrastructure bill

By Robert King

As the Senate starts to develop the contents of a $3.5 trillion reconciliation package, industry groups are keeping a close eye on what healthcare policies could eventually be included and what could not.

The 7-year itch? Boehringer culls $600M cancer pact with CureVac, heaping more woe to the biotech

By Ben Adams

Back in 2014, a German pharma and a then largely unknown fellow German biotech in CureVac penned a $600 million mRNA cancer pact. Buried in financials posted Monday morning, CureVac quietly reported that Boehringer Ingelheim has walked away from the deal, which was penned in 2014 and included $45 million upfront plus $556 million in biobucks.

Recro Pharma takes manufacturing business ‘bi-coastal’ with $50M deal for CDMO Irisys

By Fraiser Kansteiner

Recro has dished out nearly $50 million to acquire CDMO peer Irisys. The deal for the San Diego-based contract manufacturer jettisons Recro into the role of “full-service CDMO” with operations on both coasts, the company said.

Thermo Fisher’s COVID tests snare FDA green light for detecting Delta and other variants

By Andrea Park

Diagnostics developers have quickly stepped up to develop tests capable of detecting Delta and other mutations the CDC has labeled “variants of concern”—even after many projected that testing demand would peter out throughout the year with the widespread availability of COVID vaccines.

UnitedHealth, Change Healthcare enter timing agreement with DOJ over megamerger

By Paige Minemyer

UnitedHealth Group and Change Healthcare have entered into a timing agreement with the Department of Justice for their planned $8 billion merger.

Investors are tripping on psychedelics startups despite a murky path to commercial success

By Arlene Weintraub

Eighteen venture capital firms have poured more than $79 million into biopharma companies developing psychedelic compounds into therapies for depression, post-traumatic stress disorder, and more. Two IPOs in the field have outperformed expectations. But all that cash is flowing into an industry that’s facing its fair share of risks.

Hims & Hers Q2 revenue climbs 69% as company invests in more specialty care, international expansion

By Heather Landi

The COVID-19 pandemic spurred new players into the virtual care space, along with booming investments, but the increased competition is not slowing down Hims & Hers' growth. The consumer telehealth and wellness brand reported second-quarter 2021 revenue grew 69% to $61 million.

UPDATED: Pfizer, Eli Lilly and J&J roll out COVID-19 vaccination rules as delta makes case for mandates

By Fraiser Kansteiner,Noah Higgins-Dunn

Johnson & Johnson and Eli Lilly are the two latest drugmakers to say they'll require vaccines for their workforce in the coming months. With COVID-19 cases expected to rise before Labor Day, the argument for vaccine mandates is growing.

Oscar Health expanding its footprint for the 5th straight year