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Apr 26, 2024

UPDATED: Bristol Myers cutting $1.5B in costs in less than 2 years, with 2,200 employees impacted in 2024


Novartis nominates former Bristol Myers CEO Giovanni Caforio as its new chair. Will M&A deals follow? 


Roche's pipeline rethink hits 20% of new molecules as cancer candidates join discard pile


Sanofi cuts staff in Belgium as early-stage research dwindles 


Endo's Par Pharma issues recall of blood pressure med over possible contamination


Two-thirds of top 20 pharmas have banned ChatGPT—and many in life sci call AI 'overrated,' survey finds

 

Featured

UPDATED: Bristol Myers cutting $1.5B in costs in less than 2 years, with 2,200 employees impacted in 2024

Bristol Myers Squibb is cutting $1.5 billion in costs through 2025, including layoffs to more than 2,000 employees in 2024. The pharma says it will reinvest the capital into high-performing assets.
 

Top Stories

Novartis nominates former Bristol Myers CEO Giovanni Caforio as its new chair. Will M&A deals follow?

Giovanni Caforio, M.D., is lining up a new gig soon after handing all his Bristol Myers Squibb leadership roles over in March. The recent Big Pharma CEO, known for steering the $74 billion acquisition of Celgene, has been proposed as the new chair at Novartis for 2025.

Roche's pipeline rethink hits 20% of new molecules as cancer candidates join discard pile

Roche has performed a little light spring cleaning, sweeping a pair of phase 1 solid tumor drugs and an early-stage psychiatric disorder prospect out of the door as part of its update for the first quarter. The culls are part of a broader refocusing that has removed 20% of new molecules from the pipeline in recent quarters.

Sanofi cuts staff in Belgium as early-stage research dwindles

Sanofi's global restructuring is becoming clearer, with employees in Belgium the latest to be impacted. The French pharma expanded its footprint in Ghent after acquiring Ablynx in 2018.

Endo's Par Pharma issues recall of blood pressure med over possible contamination

Par Pharmaceucital, a unit of Endo, issued a voluntary recall of 7 lots of the injectable high blood pressure medication treprostinil due to the possible contamination of silicon particles in the solution.

Two-thirds of top 20 pharmas have banned ChatGPT—and many in life sci call AI 'overrated,' survey finds

As industries around the globe wrestle with where and how often artificial intelligence should be implemented in their workflows, biopharma, for one, is proceeding with caution.

Sanofi's Zantac settlement is worth $100M, or $25K per claimant: Bloomberg

Sanofi will pay approximately $25,000 per person to roughly 4,000 claimants who filed lawsuits saying that the French company failed to warn users that its heartburn medicine Zantac (ranitidine) can cause cancer, Bloomberg reported.

Profluent combines LLMs and CRISPR for open-source AI gene editing project

Profluent has staked a claim at the intersection of some of the buzziest terms in biopharma. The protein-focused AI startup believes its large language models can help extend the reach of CRISPR gene editing tools.

Pop a daily aspirin to prevent colorectal tumors? New research strengthens case

A new study adds to the case that long-term daily aspirin use may prevent colorectal tumors from developing or spreading in some patients, with potential implications for future drugs.

AbbVie tops, J&J drops as physicians rank immunology players

Immunology is AbbVie’s world, everyone else just lives in it. That is the takeaway from ZoomRx’s analysis of the perceptions of healthcare professionals , who overwhelmingly see AbbVie as the top dog in a field targeted by rivals such as Pfizer and Johnson & Johnson.
 
Fierce podcasts

Don’t miss an episode

'The Top Line': Winning formulas for the best biotech and drug names

This week on "The Top Line," we are joined by Annalee Armstrong, Senior Editor at Fierce Biotech, and Ben Adams, Senior Editor of Fierce Pharma Marketing, to discuss Fierce's take on March Madness.
 

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State of third-party logistics in the pharma industry

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Industry Events

Drug Development Boot Camp® VIRTUAL | Spring 2024

April ‌10-11, ‌2024

On Helix

Date: ‌4 ‌July ‌2024 ‌- ‌Location: ‌Babraham ‌Research ‌Campus, ‌Cambridge ‌UK

 

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