Pfizer ups R&D spending

Today's Big News

Feb 1, 2023

Layoffs continue to batter biotech, with Big Pharmas piling on the pain


Novartis cans branaplam after seeing Huntington's safety signal, delays orphan drug over slow enrollment


Pfizer CEO says R&D is the 'lifeblood that fuels us' as spending revs up post-COVID


Novartis hasn’t given up on TIGIT, CEO insists as Big Pharma ‘active’ in cancer M&A search


2nd round of layoffs in 2 months for Instil, as cell therapy manufacturing shifts to UK


Embattled Evelo hangs on to CEO while letting go of 48 employees after eczema trial misses goals


GSK drops celiac program acquired in Sitari buyout—and delivers blow to bid to avert antibiotic apocalypse

 

Featured

Layoffs continue to batter biotech, with Big Pharmas piling on the pain

More companies laid off staff last month than in January 2022, driven by trims at billion-dollar Big Pharmas and smaller biotechs that had to downsize for the second time in less than a year. 
 

Top Stories

Novartis cans branaplam after seeing Huntington's safety signal, delays orphan drug over slow enrollment

Novartis has delivered the coup de grâce to its ailing branaplam program, stopping development of the splicing modulator in Huntington’s disease in the wake of a safety signal. The Big Pharma disclosed the update alongside news of the delays and discontinuations that have hit oral factor B inhibitor iptacopan

Pfizer CEO says R&D is the 'lifeblood that fuels us' as spending revs up post-COVID

In the pandemic's third year, Pfizer could do whatever it wanted thanks to billions reaped from the COVID-19 shot Comirnaty and antiviral Paxlovid. Instead, executives are signaling a somewhat restrained approach, cutting rare disease assets, seeking external partnerships and bumping up the R&D budget by 8.7% for 2023. 

Novartis hasn’t given up on TIGIT, CEO insists, as Big Pharma ‘active’ in cancer M&A search

Once seen as a bright hope for immuno-oncology, the reputation of anti-TIGIT checkpoint inhibitors has yet to recover from the double whammy of trial flops that Roche experienced last year. So you can perhaps forgive fellow Swiss drugmaker Novartis for not putting its own TIGIT ambitions front and center.

2nd round of layoffs in 2 months for Instil, as cell therapy manufacturing shifts to UK

After cutting 60% of staff in December, Instil Bio is back with another round of layoffs that will see 15 employees in the cell therapy biotech’s U.S. manufacturing operations in California heading out the door.

Embattled Evelo hangs on to CEO while letting go of 48 employees after eczema trial misses goals

Evelo Biosciences’ lead asset has flunked a phase 2 trial in eczema after an unusually high placebo response rate was reported in at least three of four cohorts. The data drop comes as the biotech manages to hang on to CEO Simba Gill, Ph.D., but initiates layoffs.

GSK drops celiac program acquired in Sitari buyout—and delivers blow to bid to avert antibiotic apocalypse

GSK’s decadelong involvement with the TG2 pathway has hit a setback. Ten years after helping found Sitari Pharmaceuticals and four years after buying it outright, GSK has dropped plans to develop its drug candidate in celiac disease while leaving the door open to other indications.

Novartis' Zolgensma, Leqvio lag among new launches as Entresto and Pluvicto steam ahead

As Novartis prepares to spin off Sandoz to become a pure-play innovative medicines company, several of the Swiss pharma’s new medicines have started taking diverging launch trajectories. 

'Podnosis': What hospitals will need to do to overcome financial woes, and building equity measures into value-based care

In this week's episode of "Podnosis," we discuss post-pandemic hospital financing and what leaders will need to focus on this year and beyond. We also talk about the importance of value-based care and how to account for equitable care.

Roche's Genentech increases visibility of Black women with multiple sclerosis

Roche’s Genentech is back with the latest installment of its "#MSVisibility: Breaking Barriers" campaign, and, this time, the focus is on the Black multiple sclerosis experience. As with many diseases, the Black population is disproportionately affected, yet, at the same time, faces many barriers to proper diagnosis and treatment.

Sherlock Biosciences nabs Sense Biodetection to expand CRISPR diagnostic reach

Sense acquired a CE Mark approval in Europe last year for its Veros test for COVID-19.

In mysterious FDA approval, Pfizer quietly wins Ibrance breast cancer expansion

In an unusual move, the FDA requested an expanded approval of breast cancer drug Ibrance from Pfizer. And the New York pharma won the go-ahead without additional clinical efficacy data.

GOP lawmakers ready to scrap Oracle Cerner's $16B VA contract unless 'deeply flawed' EHR fixed

Top Republican lawmakers are ready to pull the plug on a beleaguered health IT project being deployed at Veterans Affairs hospitals unless significant improvements are made to fix technical glitches.
 
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This week on "The Top Line," we hear from Stacie Dusetzina, Ph.D., a professor at Vanderbilt University's Department of Health Policy, about what the IRA means for the pharma industry. We'll also discuss what we can expect from the biotech industry in 2023.

 

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