Biotech Buzz: The Latest News and Trends in Pharma and Biotech

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.The FDA recently approved Ascendis' drug for a rare endocrine condition, while rejecting MDMA as a therapy aid for PTSD. Pfizer also presented data supporting a case for an RSV shot for immunocompromised adults. Zepbound shortages are starting to ease, but Lilly warns of potential pharmacy availability issues. Galderma has received FDA approval for a skin condition treatment, Nemluvio. In the biotech industry, trends in emerging technologies like gene editing, messenger RNA, and cell therapies are promising new types of medicines. Additionally, there is ongoing progress in cell therapy's impact on cancer care. Despite Merck's TIGIT drug failing another trial, Intellia's therapy succeeded in an HAE study.In other news, Grail plans to cut 350 employees as part of a restructuring effort, while Otsuka Precision Health launches the first digital therapeutic for depression. Globus receives a warning letter over its spine navigation robot, Baxter agrees to sell its kidney care unit to Carlyle for $3.8 billion, and Medtronic wins FDA approval for asleep deep brain stimulation surgery. The medical technology industry is also seeing updates such as FDA approvals for telemonitoring connectivity devices and concerns about undetected bird flu cases.Evotec and Grail have announced job cuts, with Evotec exiting gene therapy and Grail shedding 350 workers. Acelyrin is pivoting away from its main drug and laying off staff to focus on a treatment for thyroid eye disease. Pfizer has appointed an AI chief to expand its digital leadership team. Lilly has opened an R&D hub, while Ovid and Lexicon have laid off staff. The biopharma industry is shifting towards more patient-centric commercialization strategies.Grail is planning to reduce its current workforce by 25% in order to focus on multi-cancer diagnostics. Illumina has outlined a growth roadmap after divesting from Grail, focusing on easier DNA sequencing and improved data analysis for customers. Additionally, companies like Pfizer and Biontech are now shifting their focus to oncology drugs after finding success with COVID-19 vaccines.Experts are analyzing the potential impact of the Inflation Reduction Act (IRA) as the industry awaits the first negotiated drug prices under Medicare. The biotech industry is adapting to a new normal, with M&A activity surging and IPOs making a return. Companies like Lilly and Boundless Bio are making moves in R&D and workforce adjustments.Overall, the biotech industry is navigating a changing business landscape marked by strategic consolidation and renewed investor focus on innovation.