Pharma and Biotech Daily: Latest Updates in the World of Drug Development and Deal Making

Pharma and BioTech Daily

Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma e Biotech world.J&J and Legend have released new Phase III data for their drug Carvykti, showing nearly 90% of patients had no detectable cancer cells after treatment. This data could help them fend off competition from emerging CAR T therapies like Gilead and Arcellx's Anito-cel. Biontech also has promising breast cancer data for their drug BNT327, while Moderna's RSV vaccines are facing safety concerns. Meanwhile, there is pushback against IRA's controversial 'pill penalty'. Opportunities to become a US Pharmacopeia expert volunteer are available. In the biotech industry, Acelyrin terminated its drug Izokibep after failed Phase IIB/III data, Cellectar downsized by 60%, and M&A spending has been small this year.Pharma dealmaking in 2024 has mostly stayed under $5 billion, with the exception of Novo Holdings' acquisition of Catalent for $16.5 billion. The proposed EPIC Act, which aims to give small molecule drugs the same protection against price negotiation as biologics, faces challenges due to concerns over balancing the federal budget. The biotech IPO class of 2024 has struggled, with many companies tumbling from their original offer price after going public. Novo and Catalent's deal has received EU approval, Lilly is investing $3 billion in a Wisconsin site, and GSK is making agreements to further their presence in neurology. Carisma Therapeutics is cutting staff and reprioritizing their pipeline, while Relmada is exploring strategic alternatives after a failed asset in depression. Cellectar is downsizing by 60% as they explore options for their cancer drug.