AstraZeneca ditches another Moderna prospect

Today's Big News

Nov 10, 2022

In transition and tumult, Seagen names former Novartis oncology chief Epstein as new CEO

Providers urge Biden to tackle 'gridlocked' hospital EDs and life-threatening care delays

AstraZeneca discards Moderna-partnered solid tumor prospect, kidney disease asset in pipeline clear-out

Biogen taps Sanofi vet Viehbacher as CEO amid sales slowdown and Alzheimer's launch prep

COVID testing crash sends BD's full-year revenues down, even as base business soars

 

Featured

In transition and tumult, Seagen names former Novartis oncology chief Epstein as new CEO

Seven months after Seagen was rocked by the domestic abuse arrest of founder, chairman and CEO Clay Siegall and his subsequent resignation, the powerhouse Seattle biotech has found its new leader, appointing oncology veteran David Epstein as its CEO. Epstein, 59, spent more than 25 years at Novartis, building its oncology business from “initiation to the second largest in the world,” Seagen said in a release.
 

Top Stories

Providers urge Biden to tackle 'gridlocked' hospital EDs and life-threatening care delays

ACEP, AMA and 31 other provider groups warned that waiting room deaths are becoming more common as hospital emergency departments have reached a "breaking point." The groups called on the Biden administration to call a summit of industrywide stakeholders “to identify immediate and long-term solutions to this urgent problem.”

AstraZeneca discards Moderna-partnered solid tumor prospect, kidney disease asset in pipeline clear-out

AstraZeneca has tossed out two early-phase drug development programs in its quarterly review, adding a Moderna-partnered solid tumor candidate and in-house chronic kidney disease treatment to its discard pile.

Biogen taps Sanofi vet Viehbacher as CEO amid sales slowdown and Alzheimer's launch prep

Biogen’s board has tapped former Sanofi chief Christopher Viehbacher to assume the CEO throne on November 14. Viehbacher will also take over the role of director from Vounatsos, who plans to stick around at the struggling biotech for a “limited period of time” to smooth the CEO switch, Biogen said in a securities filing.

COVID testing crash sends BD's full-year revenues down even as base business soars

In the wake of a 2021 that saw BD chart a whopping 18% increase in its year-over-year revenue, the medtech giant was unable to recreate that success.

Tiziana prioritizes 'lowest hanging fruit,' shelves unripe assets as threat of Nasdaq delisting looms

Tiziana Life Sciences is following biotech’s third-quarter cull trend, though it’s attempting to do so more covertly by putting several of its pipeline programs on the shelf in a “near-term focus” strategic update.

Biopharma layoffs roll on as Novartis, Sumitomo and Valneva plot around 800 cuts

Novartis is shuttering a gene therapy manufacturing facility near Chicago. Closure of the site in Libertyville, Illinois, will force 275 employees out of their jobs. The site produces blockbuster spinal muscular atrophy treatment Zolgensma. In other layoff news, Sumitomo will lay off 360 from its site in Marlborough, Massachusetts, while Valneva said Thursday that it will reduce its workforce by 20% to 25%.

Roche rebrands rapid COVID test as it heads to US store shelves

Rebranded as the Pilot test, the new name carries added meaning: it’s Roche’s first over-the-counter diagnostic to enter the U.S. market.

Oscar bullish on individual market as it largely ditches Medicare Advantage

Oscar Health is aiming to reach profitability by 2024 and to achieve that goal is focusing on the area where it's seen the most success to date: the individual market, executives said late Tuesday.

Sanofi, GSK crash the COVID-19 vaccine party late with a world-first nod for their next-gen booster

The European Commission signed off on Sanofi and GSK's booster shot to augment protection against COVID-19 in adults ages 18 and up, making VidPrevtyn Beta the first next-gen, protein-based adjuvanted coronavirus vaccine approved in Europe.

Not once, but twice: BrainStorm shares tumble as FDA again knocks back ALS drug

The FDA was pretty clear a year and a half ago that BrainStorm Cell Therapeutics’ amyotrophic lateral sclerosis therapy was not ready for prime time—but perhaps this latest rejection will really send the message home.

Surgalign aims to slash $30M from 2023 spending with planned layoffs

At the core of the plan is a goal to narrow the company’s product portfolio, by redirecting focus toward new products launched in the last year.

LAN report: Medicare Advantage plans increased spending on 2-sided risk models in 2021

A new report finds an increase in Medicare Advantage spending on alternative payment models that feature two-sided financial risk.

In a squeaker, Veru's COVID-19 drug loses split decision at FDA advisory committee

Veru has lost a split decision at its FDA advisory committee, with the experts voting eight to five against the known and potential benefit-risk profile of VERU-111 in hospitalized moderate to severe COVID-19 patients who are at high risk for acute respiratory distress syndrome.
 
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