Wearable defibrillator maker Kestra plots IPO

Today’s Big News

Feb 26, 2025

With $27B plan to build 4 new plants, Eli Lilly doubles down on US drug manufacturing


Eikon remains in megaround mode with $350M series D to fund cancer trials


Wearable defibrillator maker Kestra Medical plots $150M IPO


Schwarzenegger spins ‘Terminator’ catchphrase for Zimmer Biomet’s big marketing push


Merck expects oncology king Keytruda to face IRA 'price setting' process starting in 2026


Eli Lilly buys Organovo's FXR program for $10M, sending biotech's stock skyrocketing 244%


Quest Diagnostics to claim Fresenius Medical Care’s kidney dialysis testing portfolio

 

Featured

With $27B plan to build 4 new plants, Eli Lilly doubles down on US drug manufacturing

At a press conference in Washington, D.C. dubbed “Lilly in America,” the Indianapolis drugmaker said it will begin construction on four new production facilities in the U.S. The effort will more than double what the company has earmarked for domestic drug manufacturing since 2020, bringing the total outlay to more than $50 billion.
 

Top Stories

Eikon remains in megaround mode with $350M series D to fund cancer trials

Eikon Therapeutics is no stranger to eye-catching funding rounds, and the cancer-focused biotech has continued this trend with a $350.7 million series D to fuel its various clinical trials.

Wearable defibrillator maker Kestra Medical plots $150M IPO

Kestra's vest-like Assure cardioverter defibrillators have been worn by more than 17,000 patients since its launch in August 2022. It aims to join the Nasdaq under the ticker KTMS.

Schwarzenegger spins ‘Terminator’ catchphrase for Zimmer Biomet’s big marketing push

Arnie told us he’d be back. Three months after becoming Zimmer Biomet’s chief movement officer, the quintessential action hero has returned to front a campaign that puts a twist on his famous "I'll be back" catchphrase to motivate people living with joint pain.

Merck expects oncology king Keytruda to face IRA 'price setting' process starting in 2026

The government price negotiations affecting Keytruda wouldn't take effect until 2028, Merck said in its annual securities filing. That year will also see a key patent loss for the drug.

Eli Lilly buys Organovo's FXR program for $10M, sending biotech's stock skyrocketing 244%

Eli Lilly has acquired Organovo’s lead asset, a clinical FXR agonist designed to treat inflammatory bowel disease, in a deal worth up to $50 million in biobucks. Since the buy was announced, Organovo’s stock has skyrocketed 244%.

Quest Diagnostics to claim Fresenius Medical Care’s kidney dialysis testing portfolio

The assets from Fresenius’ Spectra Laboratories subsidiary include water purification testing for use in dialysis machines, a new area for Quest.

Endo highlights a Xiaflex success story in first branded commercial for Dupuytren’s contracture treatment

More than a decade after earning FDA approval for Xiaflex as a nonsurgical treatment option for Dupuytren’s contracture, Endo is debuting its first-ever branded TV commercial in the indication.

Jazz 'active and looking' at M&A deals of 'various sizes' as it wraps up Epidiolex patent fights: execs

Merely a minute into his prepared remarks during Jazz Pharmaceuticals’ fourth-quarter earnings call, CEO Bruce Cozadd brought investors’ attention to the company’s appetite in dealmaking.

AstraZeneca, eyeing $5B peak sales, reports phase 3 breast cancer win for oral SERD

AstraZeneca has advanced its push to make camizestrant a blockbuster, reporting a phase 3 win for the oral SERD at an interim analysis. The trial hit on progression-free survival, its primary endpoint, but is yet to show patients live longer on the drug candidate.

FDA dings Piramal API plant with Form 483 detailing problems tied to quality control, equipment cleaning and more

Following an inspection of Piramal’s production facility in Maharashtra, India, that ran from Feb. 11 to Feb. 17, the FDA slapped the company with six-observation Form 483 detailing shortfalls related to quality control, written records, equipment maintenance and more. The writeup comes after Piramal received a separate Form 483 at a site in Michigan last February.

Harbour offshoot pens $395M biobucks deal for preclinical rival to Neurocrine's Crenessity

The deal will see HBM Alpha Therapeutics, which was formed around Harbour’s antibody expertise, transfer the global rights outside of China for a corticotropin-releasing hormone therapy to an unnamed “business partner.”
 
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What were the biggest clinical trial flops of 2024?

This week on "The Top Line," we dive into several of the biggest failures in clinical-stage drug development last year and discuss what the biopharma industry can learn from these setbacks.
 

Resources

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The Oncology Market: 2024 Year in Review

This paper reviews key developments in the oncology market during 2024 and outlines what they mean for the future.
 

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