Illumina’s Grail acquisition spurs proxy fight

Today's Big News

Mar 13, 2023

With $43B buyout, Pfizer sees cancer specialist Seagen as a 'goose' laying 'golden eggs'


Biden says America’s 'banking system is safe' after regulators back up all SVB deposits


The top 10 drugs losing US exclusivity in 2023


Illumina facing proxy battle led by activist investor Icahn over Grail acquisition: WSJ

 

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With $43B buyout, Pfizer sees cancer specialist Seagen as a 'goose' laying 'golden eggs'

Scoring two of the three largest M&A deals in biopharma last year was just an appetizer for Pfizer. On Monday, the industry giant sat down to the main course, gobbling up Seattle cancer specialist Seagen for $43 billion. It is the largest acquisition in biopharma since June of 2019, when AbbVie acquired Allergan for $63 billion.
 

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Biden says America’s 'banking system is safe' after regulators back up all SVB deposits

President Joe Biden looked to assure Americans that the banking system was safe after U.S. regulators announced they'd backup all depositors of Silicon Valley Bank. The move comes days after a $42 billion bank run tanked the once-heralded startup and biotech financier.

The top 10 drugs losing US exclusivity in 2023

The Fierce Pharma team didn't want AbbVie's Humira to have the entire patent-cliff spotlight this year, so we're presenting this special report on the top U.S. losses of exclusivity in 2023. Besides Humira, drugs from J&J, AstraZeneca and more make the list.

Illumina facing proxy battle led by activist investor Icahn over Grail acquisition: WSJ

Illumina is reportedly the target of an upcoming proxy battle, stemming from the sequencing giant’s decision to plow ahead in its $8 billion re-acquisition of former spinout Grail in 2021 in defiance of regulators.

GSK's $100M ADC bet in doubt after fatality in first trial of Mersana's cancer therapy

An antibody-drug conjugate that GSK paid $100 million to license from Mersana Therapeutics has been slapped with a clinical hold after a patient died in the therapy’s first trial.

Seeking to boost shareholder returns, Novartis readies new $11B buyback round

Just as Novartis works to wrap up one massive share buyback program, the company has decided to launch another. Novartis is kicking off a share buyback round that aims to repurchase up to $11 billion in stock over the next three years.

FDA defends delayed EUA for Lucira Health's combo COVID and flu test amid 'misinformation'

The FDA is pushing back on what it has termed “misinformation” swirling around the emergency use authorization it gave one of Lucira Health’s diagnostic tests late last month.

UK biopharma body praises bank for keeping doors open at life science startups by rescuing SVB UK

The U.K.'s BioIndustry Association has praised the government for securing a buyer for the U.K. subsidiary of the failed Silicon Valley Bank.

A 'magic whistle': Hands-free version of COPD breath tech improves airflow, study finds

A study published in the journal Respiratory Care this month found that University of Cincinnati startup PEP Buddy’s eponymous device significantly improved COPD patients’ breathlessness caused by physical activity.
 
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'The Top Line': AI and machine learning, plus the headlines

This week on "The Top Line," we take on AI and machine learning in the pharma and healthcare universe. The expectation is that these tools will speed up innovation and open up new markets, helping the sector stay ahead of the curve. Plus, this week's headlines.

 

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