Plus our top stories of the week

This Week

Jan 5, 2024

2023 drug approvals: After a down year, FDA signs off on a bounty of new meds, including 7 from Pfizer


Layoffs rise 57% YOY in a good, bad and ugly 2023 for biotech 


2024 forecast: M&A saw an uptick in 2023. Analysts expect the trend to continue 


Inside AbbVie's $10B buyout of ImmunoGen—and the bidding war it swooped in on


BMS unwraps $14B deal for Karuna, adding a schizophrenia drug awaiting FDA OK


‘An attractive opportunity for investing’: Goldman Sachs closes $650M fund aimed at biotechs

 

Featured

2023 drug approvals: After a down year, FDA signs off on a bounty of new meds, including 7 from Pfizer

Each year, many scientists and other experts working in the biopharma industry see years of their work culminate in FDA approvals. In 2023, the FDA gave a thumbs up to more than 60 new treatments, a significant increase from 2022, when only 37 drugs passed muster.
 

Top Stories

Layoffs rise 57% YOY in a good, bad and ugly 2023 for biotech

Biopharma layoffs rose 57% last year compared to 2022, with 187 industry workforce reductions in 2023 compared to 119, according to an analysis of Fierce Biotech data.

2024 forecast: M&A saw an uptick in 2023. Analysts expect the trend to continue

Even with the Federal Trade Commission keeping a watchful eye on the biopharma industry and the economic landscape giving some players pause, mergers and acquisitions are back on the rise. And it is with cautious optimism that industry watchers see the trend continuing in 2024.

Inside AbbVie's $10B buyout of ImmunoGen—and the bidding war it swooped in on

According to a recent securities filing, AbbVie only entered the ImmunoGen bidding war after other buyout interest led the ADC specialist to widen its pool of potential purchasers. When it came down to the final three players, AbbVie's offer blew the others out of the water.

UPDATE: BMS unwraps $14B deal for Karuna, adding a schizophrenia drug awaiting FDA OK

Christmas has come early for Karuna Therapeutics’ shareholders. Bristol Myers Squibb has unwrapped a $14 billion deal to acquire the biotech, which sits on the cusp of having the first schizophrenia treatment approved in years.

‘An attractive opportunity for investing’: Goldman Sachs closes $650M fund aimed at biotechs

Goldman Sachs is planning to make a splash in the life sciences sector, closing a $650 million for its first fund aimed at the drug development space.

J&J, Legend’s Carvykti slapped with FDA black-box warning over secondary cancer risk

As the FDA investigates a safety signal for approved CAR-T therapies, the agency has elevated a warning about secondary cancers following the use of Johnson & Johnson and Legend Biotech’s Carvykti. 

Triple phase 3 disaster sends AlloVir searching for options as shares plunge 64%

AlloVir’s ambitions, like its share price, have shrunk significantly as the biotech abandons three late-stage trials of its lead asset after deciding none were likely to achieve success.

Novo Nordisk submits application for massive manufacturing campus near Dublin

Novo Nordisk aims to build a sprawling manufacturing campus that would cover 1.6 million square feet and create up to 1,100 jobs near Dublin. The company is rapidly investing in manufacturing capacity as demand skyrockets for its diabetes and obesity drugs Ozempic and Wegovy.

Roche to pick up LumiraDx’s point-of-care tests through $350M deal

Roche aims to gain a selection of products from the flagging LumiraDx, including a shoebox-sized analyzer and a menu of specialized tests.

Old heart drug halts growth of pancreatic cancer in organoid and mouse models

Scientists have shown that an old heart drug can inhibit growth of one of the most common and lethal forms of pancreatic cancer, at least in preclinical models. 

‘Disappointed’ IQVIA hit by judge’s decision to uphold FTC’s block of its DeepIntent buyout

A U.S. judge has upheld the Federal Trade Commission’s (FTC) decision to block IQVIA’s long-running attempt to buy the owner of pharma digital ad specialist DeepIntent.
 
Fierce podcasts

Don’t miss an episode

'The Top Line': The year in biotech

This week on "The Top Line," Fierce Biotech staff writer Gabrielle Masson and senior editor Annalee Armstrong look back at the year in biotech, which was defined by massive layoffs across the industry. They also discuss their favorite stories of the year, including an appearance from a popstar whose reputation precedes her.
 

Resources

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7 Questions You Should Be Asking Your Digital Point-of-Care Media Vendor

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7 “Make or Break” Factors for Emerging Biopharma Companies

This e-book explores 7 factors that are critical to the success of emerging biopharma companies, whether they plan to out-license, partner, or launch & commercialize products.  It’s an essential resource for emerging companies with products in all stages of development.
 

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Fed-Batch Intensification To Increase Titer In Biologics Manufacturing

Improving efficiency and productivity in biologics manufacturing is a longstanding goal within today’s industry, especially now as new and increasingly complex molecules are fundamentally changing technological and operational approaches to drug development. Process intensification can help accelerate this pace of innovation through advanced process development techniques and high productivity manufacturing platforms.

Whitepaper

Effective Technology Transfers for Mammalian-Derived Biologics

As a leader of technology transfer activities in the industry, Lonza understands the challenges associated with this critical step. Download this White Paper today to learn more. 

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The transformative role of pDNA in Cell and Gene therapy

Want to know the Top 5 criteria for selecting the ‘right’ CDMO for pDNA manufacturing?
 

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