Business

As Sage prioritizes Zurzuvae for postpartum depression after recent setbacks, it will stop selling Zulresso for PPD and no longer pursue Zurzuvae in major depressive disorder.

Emerging Company Profile: Volastra is testing two KIF18A inhibitors in early clinical trials in ovarian cancer, backed by investors like Polaris Partners and ARCH Ventures.

The company, now the most advanced clinically in the psychedelic space after the rejection of Lykos's MDMA-based post-traumatic stress disorder drug, is cutting its workforce by a third and narrowing its research focus after shifting the timeline for its late-stage depression candidate.

Continued growth for mainstay Entyvio and cancer newcomer Fruzaqla drove growth at Takeda in the fiscal first half, with the Japanese major brightening its outlook for the full year.

With its two biggest sellers losing exclusivity in 2028, the pressure is on for Bristol Myers Squibb to grow revenue through new products, which made meaningful contributions in Q3.

Third quarter sales for PAH drug Winrevair came in better than expected, while issues in China continued weighing on Gardasil.

Panels at the recent BioFuture conference focused on the next breakthroughs in areas such as oncology and neurodegenerative diseases, continuing challenges to GLP-1 agonists, financing and how use of AI is taking shape.

Doubling some analyst projections for its second full quarter on market, Madrigal’s NASH drug appears headed to blockbuster status and a sustained market position.

Amgen’s product sales grew 24% to $8.15bn in Q3 and its gains are being reinvested in R&D and manufacturing, including for MariTide, which will report Phase II obesity data in late 2024.

Lanreotide supply challenges could impact Cipla’s US revenues in the coming quarter, while the firm hopes it can seize emerging opportunities in the GLP-I segment in India, where Novo Nordisk and Eli Lilly are progressing filings for their blockbuster products.

Uptake in immunology, gastrointestinal and dermatology indications have enabled Skyrizi to post 51% year-over-year growth, and overtake sales for biosimilar-challenged stalwart Humira.

As it posts third-quarter numbers that again reveal the decline of revenues from its multiple sclerosis portfolio, the US biotech major is entering into the hot area of targeted protein degradation to boost its immunology and neurology pipeline.

Sales of Arexvy fell back in the third quarter but GSK’s leadership believes the vaccine and several pipeline drugs can help the company achieve higher growth.

High patient needs, a large healthcare market and innovation potential in the biotech sector in China still appear to be maintaining and attracting investments by overseas biopharma companies, including by Bayer and Lilly in biotech start-ups and Lilly in manufacturing.

Troubled GlycoMimetics will merge with Crescent, bringing its PD-1- and VEGF-targeting bispecific CR-001 and gaining a public listing. Crescent also will raise $200m to help position itself against PD-1xVEGF leaders Akeso/Summit and BioNTech.

Private Company Edition: Despite a third quarter dip, venture capital investment in biopharma in 2024 is on track to beat 2023, new data confirm. VC mega-rounds of $100m or more helped boost the total, including recent financings totaling $175m for Alpha-9 and $112m for AvenCell.

CEO Albert Bourla said Starboard Value’s push for change at Pfizer is coming 15 months late as the company is already executing a five-point plan to cut costs and pivot on strategy.

The Swiss giant has raised its forecast for the full financial year, as Cosentyx, Entresto and its oncology portfolio continue to shine, helped by the firm's sleeker selling organization.

Pharmaceutical company managers may view biosimilar erosion of their products’ sales in the same rose-tinted light cast by Humira’s delayed biosimilars in the US. Payers, however, may be more clear sighted.