Illumina CEO resigns after proxy fight

Today's Big News

Jun 12, 2023

Bayer needs 'midsize acquisition' to reach $10B oncology sales goal, exec says 


Novartis inks $3.2B Chinook buyout to lift kidney disease plans


Illumina CEO Francis deSouza resigns following proxy battle with Carl Icahn  


Novo Nordisk to invest $2.3B for API production, but not for semaglutide  


Patients attack-free a year after receiving Intellia's hereditary angioedema CRISPR med  

 

Featured

Bayer needs 'midsize acquisition' to reach $10B oncology sales goal, exec says

Bayer recently laid out its ambition to achieve $10 billion in sales from its oncology business by 2030 and become a top 10 cancer drug player. To get there, the company is looking outside for a “midsize acquisition,” Bayer’s oncology chief Christine Roth said.
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Top Stories

Novartis inks $3.2B Chinook buyout to lift kidney disease plans

Novartis wants to give a $3.2 billion lift to its kidney disease pipeline. While working to generate phase 3 data on its own IgA nephropathy candidate, the Swiss drugmaker has seized the chance to buy Chinook Therapeutics for a pair of late-stage programs targeting the rare, progressive chronic kidney disease.

Illumina CEO Francis deSouza resigns following proxy battle with Carl Icahn

Francis deSouza has resigned as CEO and director of Illumina after recently surviving activist investor Carl Icahn’s proxy fight against the company, which involved demands to remove deSouza from the DNA sequencing company’s board and replace him as chief executive.

Novo Nordisk to invest $2.3B for API production, but not for semaglutide

Novo Nordisk has earmarked a 15.9 billion Danish kroner ($2.3 billion) investment to expand manufacturing at its site in Hillerod, Denmark, the company revealed Monday. But it’s not what you might think. While Novo is dealing with overwhelming demand for its diabetes and obesity products Ozempic and Wegovy, this funding will expand its ability to manufacture active pharmaceutical ingredients to support its pipeline.

Patients attack-free a year after receiving Intellia's hereditary angioedema CRISPR med

Patients with the inflammatory disorder hereditary angioedema who took Intellia Therapeutics’ CRISPR medicine have been attack free for a year or more after receiving just one dose.

Catalent's long-awaited quarterly report isn't nearly as bad as expected

After three delays, Catalent has finally released its quarterly earnings. In the end, the news wasn’t nearly as bad as expected. The CDMO giant, which has been plagued by major production problems at three of its sites, has made a slight adjustment to its revenue projection, which is expected to come in at between $4.23 billion and $4.33 billion as opposed to a previous projection window of $4.25 billion to $4.35 billion.

Huma nabs FDA nod for AI-backed disease management platform

No more beating around the bush here: With a newly bestowed FDA clearance, Huma’s disease-agnostic health management software can now be more direct in offering clinical recommendations to users and their doctors.

After layoffs leave Oncorus a 'shell' of a company, board liquidates the business

A week after Oncorus shed pretty much all its staff, the board has decided that the game is up and moved to liquidate the RNA-focused company.

BioNTech to defend itself against COVID-19 vaccine injury claim in Germany

The drugmaker will defend itself against claims from a German healthcare worker who sued the company for at least 150,000 euros ($161,500). The plaintiff alleges she suffered bodily harm resulting from Pfizer and BioNTech's Comirnaty vaccine.

Coya deems dementia drug R&D plan 'premature,' switches focus

Coya Therapeutics’ plan to treat frontotemporal dementia by boosting the function of regulatory T cells is unraveling. Months after putting FTD at the heart of its IPO pitch, the biotech has decided it would be “premature” to continue to study its low-dose formulation of IL-2 in the indication.
 
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