| Today’s Big NewsSep 6, 2023 |
| By Nick Paul Taylor Johnson & Johnson is backing away from its $230 million blood pressure bet, returning the global rights to the near-approval treatment to Idorsia in a deal worth up to $343 million. |
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By Max Bayer Janssen has elected to stick with a 2021 deal for Cidara's flu prophylaxis but will likely hand over the rights to someone else. Cidara earned a $7 million milestone payment thanks to the decision and still stands to earn more than $650 million in potential biobucks. |
By Nick Paul Taylor How hard will the Inflation Reduction Act hit pharma R&D? Harder than the government expected, according to work by the University of Chicago that found lower R&D spending could result in 79 fewer new small-molecule drugs over the next 20 years. |
By Gabrielle Masson Apollo Therapeutics is launching its series C flight with $226.5 million, money that will bolster its hub-and-spoke approach to drug development and 20-plus pipeline programs that remain largely under wraps. |
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By Max Bayer Nimbus Therapeutics has tacked on an additional $210 million in private capital, pushing the company's total fundraising haul since inception past $600 million. CEO Jeb Keiper says the company has no intention to go public as of now. |
By Gabrielle Masson While it’s been a rocky year for many, everything is smooth sailing at Kriya Therapeutics—one of biotech’s top money raisers last year—as it continues its acquisition streak. This time, Kriya has snapped up Tramontane Therapeutics and will be developing a NASH program sourced from the gene therapy biotech. |
By James Waldron Moderna is continuing to make the case for why its updated COVID-19 shot needs a speedy approval in time for the fall vaccination season, now pointing to its effectiveness against the so-called pirola variant. |
By Helen Floersh The company's VivoVec platform has generated in vivo chimeric antigen receptor T cells, or CAR-T cells, in nonhuman primates, according to new data presented by the company Sept. 1 during the annual CAR-TCR Summit in Boston. The CAR-Ts also appeared to have activity against target cells and continued proliferating for more than a month in one of the animals. |
By Angus Liu Just as Novartis’ C-suite appeared to have stabilized amid a major overhaul of the company, the Swiss pharma is losing its international markets leader and getting rid of its chief commercial officer title. |
By Noah Tong A lawsuit against Blue Cross and Blue Shield of North Carolina appears to have prompted the insurer to backtrack and remove 48 HIV drugs from its costliest drug tiers. |
By Andrea Park It’s no legend: Abbott has captured Bigfoot Biomedical by striking a deal to acquire the diabetes management tech maker. |
By Noah Tong Based on care models out of Maryland, Vermont and Pennsylvania, CMS is implementing the AHEAD Model to help states address chronic disease. |
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