Baxter sells $4.5B kidney unit for $3.8B

Today’s Big News

Aug 13, 2024

Rivus succeeds in obesity-related heart failure, posting phase 2 win for muscle-sparing molecule


Novartis loses bid to thwart launch of MSN's Entresto generic—for now


To pay down debt, Baxter sells its $4.5B Vantive kidney care division to the Carlyle Group for $3.8B


Lexicon to lay off 50% of field force as it prioritizes heart failure approval and potential US diabetes launch


Sluggish enrollment leads Boundless Bio to make 'modest' layoffs 5 months after $100M IPO


Acelyrin loses interest in izokibep, lays off third of staff to focus on looming fight for Tepezza's crown


CORRECTED: After icodec rejection, Novo Nordisk won’t file application for once-weekly insulin and semaglutide combo in US

 

Featured

Rivus succeeds in obesity-related heart failure, posting phase 2 win for muscle-sparing molecule

Rivus Pharmaceuticals has plumped up the prospects of its fat busting, muscle sparing drug candidate, reporting a primary endpoint hit in a phase 2a trial of people with obesity-related heart failure.
 

Top Stories

Novartis loses bid to thwart launch of MSN's Entresto generic—for now

After seeking to block the launch of MSN Pharmaceuticals’ recently approved Entresto generic, Novartis has hit a snag in its multiyear crusade to thwart copycats of its top-selling heart failure drug.

To pay down debt, Baxter sells its $4.5B Vantive kidney care division to the Carlyle Group for $3.8B

Baxter estimated it will net about $3 billion in cash for the company and its about 23,000 employees, which were once slated to become an independent venture before the end of this year.

Lexicon to lay off 50% of field force as it prioritizes heart failure drug, potential US diabetes launch

As part of a restructuring initiative, Lexicon Pharmaceuticals will lay off more than 75 staffers, or approximately 50% of its current field force, by the end of September.

Sluggish enrollment leads Boundless Bio to make 'modest' layoffs 5 months after $100M IPO

Only five months after securing a $100 million IPO, Boundless Bio is already laying off some employees as the precision oncology company grapples with low enrollment for a trial of its lead drug.

Acelyrin loses interest in izokibep, lays off 3rd of staff to focus on looming fight for Tepezza's crown

Despite maintaining its recent winning streak in the clinic, Acelyrin is no longer focused on its former lead asset izokibep.

CORRECTED: After icodec rejection, Novo Nordisk won't file application for once-weekly insulin and semaglutide combo in US

As Novo Nordisk moves full speed ahead on global regulatory filings for a combination of once-weekly insulin icodec and semaglutide, the U.S. won’t be part of that plan for the time being, thanks to a recent regulatory hiccup with the FDA.

J&J’s consumer unit makes argument stick, winning row over wound dressing ad claims

The National Advertising Division (NAD) has sided with Johnson & Johnson Consumer Inc (JJCI) in a row over ads for wound dressings, recommending ASO drop its “2x faster healing” claims for its hydrocolloid bandages.

Eli Lilly unwraps $700M nucleic acid R&D center in Boston Seaport, opens doors to biotechs

Eli Lilly has opened a $700 million R&D center in the Boston Seaport, boosting its RNA and DNA research capabilities and expanding its biotech-hosting Gateway Labs to the East Coast for the first time.

White House announces $150M in ARPA-H awards for precision cancer surgery

The Biden administration will deliver $150 million in cancer moonshot funds to new tech that aims to make tumor surgeries safer and more precise.

Investor activism resurfaces at Aurinia after CEO’s board role, exec pay lost majority support

A deal to bring back former CEO Robert Foster, Ph.D., didn’t completely quell investors’ concerns about Aurinia Pharmaceuticals.

Ovid halts preclinical work, IV seizure program in wake of soticlestat's phase 3 stumble

“Following Takeda's unexpected phase 3 results for soticlestat, we moved rapidly to focus our resources to preserve capital,” Ovid CEO Jeremy Levin said.

AI antibody generator Absci inks cancer collaboration with Memorial Sloan Kettering

Absci has joined up with Memorial Sloan Kettering Cancer Center on a project to co-develop as many as six potential antibody therapies.

At least half of doctors and patients find DTC pharma ads helpful: report

Amid ongoing debates over whether direct-to-consumer pharmaceutical advertisements should be banned in the U.S., as they are in almost every other country, a new study suggests that many doctors and patients actually find the ad spots to be more helpful than harmful.
 
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