Karuna exec departs in lead up to pivotal drug launch

Today's Big News

Jan 6, 2023

With Leqembi approval in Alzheimer's disease, Eisai and Biogen plot 'meticulous' launch


Walgreens posts $3.7B loss in Q1 on opioid settlement but boosts sales outlook in 2023


Karuna parts ways with executive as it gears up for schizophrenia drug's high-profile launch


LinusBio collects $16M with plan to help diagnose autism using a single strand of hair


PsiOxus Therapeutics is no more as cancer biotech taps Greek mythology to rebrand as Akamis Bio

 

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With Leqembi approval in Alzheimer's disease, Eisai and Biogen plot 'meticulous' launch

Friday, the U.S. Food and Drug Administration signed off on the accelerated approval of the Eisai and Biogen's antibody lecanemab in Alzheimer's disease, where it will now carry the commercial moniker Leqembi. Meanwhile, the partners are taking a cautious, "phased approach" to the launch, Eisai's U.S. CEO Ivan Cheung said in an interview.
 

Top Stories

Walgreens posts $3.7B loss in Q1 on opioid settlement but boosts sales outlook in 2023

Drugstore chain Walgreens posted a quarterly net loss of $3.7 billion Thursday as it took a $6.5 billion opioid litigation charge, sending its shares down 7% this morning. But the company raised its sales outlook driven by strong performance in its growing U.S. healthcare segment. The healthcare business brought in first-quarter sales of $989 million, up from $51 million a year ago. 

Karuna parts ways with executive as it gears up for schizophrenia drug's high-profile launch

Karuna Therapeutics is gearing up for a potential launch of schizophrenia med KarXT—one which analysts say could be “amongst the highest in profile in recent times.” But they’ll now be doing it without their Chief Commercial Officer Charmaine Lykins, who quietly departed Thursday afternoon.

LinusBio collects $16M with plan to help diagnose autism using a single strand of hair

The Mount Sinai spinout raised $16 million to continue developing its test that looks for environmental exposures trapped within a piece of hair.

PsiOxus Therapeutics is no more as cancer biotech taps Greek mythology to rebrand as Akamis Bio

Less than a week into 2023, and we already have a biotech name change as PsiOxus Therapeutics becomes Akamis Bio.

Novo Nordisk, AstraZeneca and Lilly will top pharma's revenue growth in 2023: report

While Novo Nordisk, AstraZeneca and Eli Lilly are set to lead their pharma peers with the most top-line growth this year, Merck & Co. and Sanofi are notably absent from the projection despite major expected contributions from their star meds, a new Evaluate report shows.

Pfizer pivots from early-stage rare disease R&D, shifting to external innovation and putting assets up for sale

Pfizer is stepping back from early-stage rare disease R&D. After reviewing its portfolio, the Big Pharma has begun “exploring externalization opportunities for a number of highly innovative, niche programs” as part of a rethink of its approach to orphan indications.

Baxter bids adieu to $5B kidney care division with spinout plan

The move follows a string of major medtechs in the past year pushing their internal business units to take flight as separate companies.

Class action accuses CommonSpirit Health of negligence following major ransomware attack and data breach

CommonSpirit Health reported back in October that a ransomware attack had compromised the protected health information of more than 623,700 people.

Pfizer picks up steam in its pursuit of Merck's next-gen pneumococcal vaccine

With a pediatric approval in June for its next-generation pneumococcal vaccine, Merck leads a high-stakes race with Pfizer to capture the competition’s key demographic. But Pfizer is quickly gaining ground with its next-gen shot that offers more protection. Friday, the FDA designated Prevnar 20 for priority review in children aged 6 weeks through 17 years.

CureVac's 'half-baked' COVID-flu data release questioned by analysts, but shares still rally 17%

CureVac and GSK have picked the mRNA approach that will advance in the clinic for flu and COVID-19 after seeing phase 1 data on a handful of candidates. While analysts were happy to see the win, they were skeptical of the lack of updated variant data and limited population read-out—even going so far as to call the disclosure “half-baked.”

EU commission moves forward with proposal to delay MDR implementation

Medical devicemakers in the European market are one step closer to securing a bit of breathing room after saying new regulatory laws could lead to product shortages among their businesses.

How mental health made the 'remarkable transition' to virtual: study

In-person care for mental health services crashed in the first year of the COVID-19 pandemic. However, that gap was more than made up for in a 16- to 20-fold increase in the use of telehealth, according to RAND researchers.
 
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This week on “The Top Line,” we discuss the biotech industry’s rotten tomatoes. Plus, we cover the drug approvals of last year, a congressional report on Biogen's "inappropriate" communications with the FDA and other top headlines from this week.
 

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