Biopharma Buzz: Key Updates in Pharma and Biotech World
Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma and Biotech world. On February 22, 2024, significant developments in the biopharma industry were reported. Ori Capital raised a new biotech fund to support startups working on innovative drugmaking approaches. The Biden administration pledged $100 million towards women's health research as part of an initiative led by First Lady Jill Biden. Moderna faced challenges in transitioning but pitched a new RSV shot and vaccines for the future. Novavax agreed to pay Gavi in a settlement over a COVID vaccine contract. A paper in NEJM highlighted the "remarkable" results of CAR-T therapy in treating autoimmune diseases, shedding light on its potential benefits and remaining challenges. Moderna is banking on an experimental RSV vaccine to drive future sales. The state of biosimilars in 2024 was discussed, noting that while the U.S. market had initially fallen short of expectations, more products have entered the market recently after a slow start.Moderna reported a surprise profit in Q4 despite a 43% decline in COVID-19 vaccine revenue. The company beat analyst estimates thanks to deferred payments and cost savings. Pfizer and Moderna both exceeded expectations in COVID-19 sales but face challenges with declining revenues in the future. Novavax settled a $400 million agreement with Gavi for their COVID-19 vaccine. Bristol Myers Squibb is focusing on advanced modalities to combat cancer. Protagonist published promising phase II data for a blood cancer therapy. The biopharma industry is seeing an increase in data analysts as data becomes more important. Gilead CEO O'Day was named the new board chair of PhRMA.This week's Commercialization Weekly highlights several key developments in the biopharma industry. United Therapeutics has taken the unusual step of suing the FDA over a rival's drug application, alleging that the agency is allowing rule violations. The FDA is set to review expanded use of Sarepta's Duchenne gene therapy, while Iovance prepares for the launch of its 'TIL' cell therapy after receiving approval. Astrazeneca also received a new approval for Tagrisso in lung cancer treatment. Additionally, Abbvie's proposed acquisition is facing delays due to a "second request" from the FTC. These developments showcase the ongoing challenges and advancements in the biopharma sector.
