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Nov 3, 2023

The 2023 Biotech Graveyard


UPDATED: Pfizer plans to shutter New Jersey site, discloses layoffs amid $3.5B cost-cutting drive


Pfizer sends 5 pipeline programs packing amid cost-savings overhaul


Sanofi CEO Paul Hudson's new 'Play to Win' pivot sends stock plunging


‘We knew it was there': AbbVie CEO says company favored internal work over potential Daiichi deal


After reaching FDA first, CRISPR-Vertex's gene editing therapy will get 'benign' review by committee


Already nearing blockbuster status, GSK's RSV vaccine Arexvy outdueled Pfizer rival in first round of clash

 

Featured

The 2023 Biotech Graveyard

More than 20 biotechs entered the biotech graveyard this year, spurred by a difficult financing environment. There were more than three times as many companies that closed or wound down in 2023 compared to 2022.
 

Top Stories

UPDATED: Pfizer plans to shutter New Jersey site, discloses layoffs amid $3.5B cost-cutting drive

After plunging COVID revenues prompted Pfizer to embark on a cost-cutting crusade, more details about the company's savings efforts are coming into focus.

Pfizer sends 5 pipeline programs packing amid cost-savings overhaul

Pfizer’s new cost-saving agenda will see five pipeline programs in oncology, rare disease and immunology packed off to the graveyard.

Sanofi CEO Paul Hudson's new 'Play to Win' pivot sends stock plunging

Sanofi acolytes are none too happy with the latest chapter of CEO Paul Hudson’s "Play to Win" strategy. After unveiling the pivot alongside third-quarter earnings Friday, Sanofi’s stock plunged nearly 20%, with one analyst group suggesting the plan came “at the wrong time.”

'We knew it was there': AbbVie CEO says company favored internal work over potential Daiichi deal

AbbVie CEO Rich Gonzalez says the company was aware of the potential for an ADC transaction with Daiichi that Merck ultimately pounced on, electing to prioritize internal work instead.

After reaching FDA first, CRISPR-Vertex's gene editing therapy will get 'benign' review by committee

A historic moment in pharmaceuticals will happen next week: an FDA advisory committee is set to review the first-ever CRISPR gene editing-based therapy, Vertex Pharmaceuticals and CRISPR Therapeutics’ exa-cel for sickle cell disease.

Already nearing blockbuster status, GSK's RSV vaccine Arexvy outdueled Pfizer rival in first round of clash

Aside from Pfizer's declining COVID-19 sales, GSK is giving the New York drugmaker another reason to worry. In the first round of their RSV vaccine showdown, GSK's Arexvy pulled down $860 million, more than doubling the haul from Pfizer's Abrysvo.

Philips chief OK'd distribution of defective CPAP machines: ProPublica

Though Philips has argued its U.S. subsidiary should be responsible for paying damages in its massive CPAP machine recall, instructions to continue selling home ventilators came from the parent company’s top leadership, according to ProPublica and the Pittsburgh Post-Gazette.

First-in-class small molecule halts breast and ovarian cancer growth in mice

The small molecule, which indirectly targets the tough-to-drug MYC gene, worked even better when combined with PARP 1/2 inhibitor talazoparib.

PBMs run media blitz calling out practices of their peers, telling policymakers reforms can cut costs

A group of pharmacy benefit managers has split off from the pack, launching a “six-figure digital media campaign” to make the case that some of the widely criticized organizations provide value to the healthcare system.

Aragen to beef up biologics manufacturing, investing $30M in new site in India

Aragen is earmarking $30 million for a factory in Bangalore to serve its “rapidly expanding” U.S.-based biologics business, the company said on Monday. It will be the third manufacturing facility in India for Aragen, a contract research development and manufacturing organization based in Hyderabad.
 
Fierce podcasts

Don’t miss an episode

'Podnosis': A look at Blue Shield of California's new pharmacy benefits model

In this week's episode of “Podnosis,” we explore Blue Shield of California's plan to transform its pharmacy model. This includes a shift away from the traditional PBM relationship in favor of forming partnerships with five companies: Amazon Pharmacy, Abarca, Mark Cuban Cost Plus Drugs Company, CVS Caremark, and Prime Therapeutics. 
 

Resources

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Improving patient outcomes with point-of-care AI

Is pharma spending money on the wrong types of AI? Here’s how real-time clinical alerts could change the minds of the world’s top commercial leaders.
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Understanding the hidden value of quality

Uncover the keys to efficient bioprocessing, including how outsourcing quality management can reduce risk, save time and money, and expedite biologics development.
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What Are the Benefits of Generative AI for Pharma?

From trial site feasibility and patient populations to data analysis, generative AI has the potential to revolutionize drug discovery and clinical trial recruitment at both the therapeutic area and indication level.
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The transformative role of pDNA in Cell and Gene therapy

Want to know the Top 5 criteria for selecting the ‘right’ CDMO for pDNA manufacturing?
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Improving yield and reproducibility with advanced sample prep

Learn how to get better results from suboptimal biospecimens for NGS and protein analysis.
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Tailored and Targeted Pharmaceutical Marketing at Scale

Learn more about targeted personas for HCP marketing.
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An Introduction to Organ-on-a-Chip Technology

Emulate in vivo biology with next-generation in vitro technology.
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Accelerate drug discovery with high-performance computing powered by the cloud

Accelerate drug discovery with high-performance computing (HPC) powered by the cloud
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Understanding the hidden value of quality

Uncover the keys to efficient bioprocessing, including how outsourcing quality management can reduce risk, save time and money, and expedite biologics development.
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4 ways to cut through the clutter and reach chronic disease patients

Learn how to help patients with chronic diseases access tailored condition and treatment insights in an environment where they are often inundated with one-size-fits-all messaging that doesn’t align with their individual healthcare journey.
Research

Creating a State-of-the-Art Integrated Digital Library Ecosystem

Daiichi Sankyo wanted to create a “single source of truth, the very first place you should go” for content access and rights information. How did they replace five tools with just one?
 

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