Updated: Lilly’s shares tank after trimming revenue guidance. It also cut...
Eli Lilly lowered the top end of its full-year revenue guidance by $600 million on Wednesday, as its third-quarter sales were about $800 million below Wall Street’s expectations. The pharma giant had...
View ArticleBiogen signs molecular glue deal, raises yearly projections
Is 2024 the year of molecular glues? Biogen on Tuesday became the latest company to partner on the increasingly popular subject, teaming up with private San Diego biotech Neomorph. Biogen will pay...
View ArticleBlue Earth Therapeutics snags $76M for both alpha and beta radiotherapies
The radiopharma field continues to buzz with private financings and more clinical-stage programs. The latest is Oxford, UK-based Blue Earth Therapeutics, which unveiled a $76.5 million Series A on...
View ArticleLundbeck doubled its offer for Longboard over six months, new filing shows
Danish pharma Lundbeck vastly increased its offer to buy Longboard Pharmaceuticals over six months as other parties came to the dealmaking table, a new SEC filing shows. Lundbeck initially proposed $29...
View ArticleLeal Therapeutics raises $45M; SynOx adds to Series B
Plus, news about Zai Lab, Spero Therapeutics and EyePoint Pharmaceuticals: Leal Therapeutics raises $45M: The biotech, which emerged from stealth earlier this year, said the financing was led ...
View ArticleGSK cuts 24-valent pneumococcal program for adults due to competition
GSK is setting aside a mid-stage 24-valent pneumococcal vaccine program for adults to instead focus on a preclinical option that covers 30-plus valents, the company announced Wednesday alongside its...
View ArticleAstraZeneca China exec probed by local authorities
AstraZeneca said Wednesday its China president Leon Wang is under investigation in the country, days after it was reported a BeiGene exec was under scrutiny for insurance fraud while she was ...
View ArticleFDA says all versions of Novo's GLP-1 weight loss drugs are now available
The FDA on Wednesday updated its drug shortage database to say that all dosages and versions of Novo Nordisk's Wegovy and Ozempic are now "available." A Novo spokesperson ...
View ArticleBiogen seeks growth from pipeline as investors show signs of impatience
Biogen's investors are growing restless. Wednesday's third-quarter earnings call checked most of the boxes for a successful report. The company raised its full-year guidance, and sales of its...
View ArticleAtlas of tumors reveals in 3D how cells change into cancer
The story of cancer has long started with a single mutated cell that divides and eventually grows into a tumor causing disease and death. But new research, part of a large-scale effort to map in ...
View ArticleAbbVie’s immunology blockbusters make up for Humira sales drop in Q3
AbbVie is lifting its profit outlook and full-year 2024 guidance as its immunology blockbusters Skyrizi and Rinvoq beat quarterly revenue estimates, according to the company’s third-quarter filing....
View ArticleRoche presents early-stage results for latest amyloid-based Alzheimer's attempt
Roche revealed early-stage data for a new Alzheimer’s program on Wednesday as it seeks to jump back into a field littered with failures. In a 60-patient trial testing four different doses of...
View ArticleLexeo shares early data on Alzheimer’s gene therapy
Lexeo Therapeutics shared biomarker data from 15 patients in a Phase 1/2 study of its gene therapy for Alzheimer’s disease. The hope is that the gene therapy can slow progression of ...
View ArticleCompass Pathways delays key Phase 3 psilocybin readouts, spurring 30% layoffs
Compass Pathways is pushing back the timelines of two key pivotal readouts, delaying data for a psilocybin program that's one of the leaders in psychedelic drug development. The first Phase 3 pivotal...
View ArticleCorcept misses primary endpoint in supportive Cushing's syndrome study
Corcept Therapeutics announced Wednesday that its experimental treatment for Cushing’s syndrome missed the primary endpoint in a Phase 3 trial intended to support its FDA submission. While patients...
View ArticleBristol Myers ups revenue guidance again, raising confidence in cost-cutting
Bristol Myers Squibb is lifting its 2024 financial guidance for the second straight quarter as CEO Chris Boerner’s “transition period” continues. The company is now forecasting about a 5% increase in...
View ArticleWalgreens exec Mary Langowski talks future of healthcare business
LAS VEGAS — Over the past year, Walgreens has been under pressure to turn itself around, with its stock down 65%. It plans to close 1,200 locations over the next three years ...
View ArticleAmgen makes pipeline cuts, but obesity plans remain the focus
While Amgen didn’t reveal much about upcoming readouts for its highly-anticipated weight loss drugs during third-quarter earnings, the company did detail certain changes to other parts of its pipeline....
View ArticleAnother Paragon offshoot inks reverse merger as Jade takes Aerovate’s place
Paragon Therapeutics, a company that spins out antibody biotechs, has forged a second reverse merger for its portfolio this week. Its autoimmune spinoff Jade Biosciences will take the Nasdaq spot of...
View ArticleAbbVie adds to T cell engager momentum, with EvolveImmune pact starting at $65M
AbbVie, already a leader in the T cell engager field with Epkinly and a Phase 3 program, is further digging into the field with a new discovery collaboration with EvolveImmune Therapeutics. The Chicago...
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