Eli Lilly and Co. agreed to acquire Point Biopharma Global Inc. for $12.50 per share in cash, or about $1.4 billion, in a deal that would bring the pharma company a pipeline of preclinical and clinical radioligand therapies for cancer. The purchase price is an 87% premium to Point’s closing stock price on Oct. 2. Shares (NASDAQ:PNT) rose 85% to $12.37 in early trading Oct. 3. Radioligand therapy links a radioisotope to a targeting molecule to deliver radiation directly to cancer cells, preserving healthy tissue. Medical isotopes used by Point include actinium-225 and lutetium-177. Point’s lead program is PNT-2002, which targets prostate-specific membrane antigen to treat metastatic castration-resistant prostate cancer after progression on hormonal treatment.
The rise of obesity: Development, investments, partnerships climb, but safety is key
The ability of obesity medications to impact co-morbidities, reducing the symptoms and costs associated with down-the-road disease, has attracted significant attention throughout the biopharma industry.
Could Eisai’s Leqembi approval be the trigger for drug price reform in Japan?
As pricing negotiations for Biogen Inc./Eisai Co. Ltd.’s newly approved Leqembi (lecanemab) for Alzheimer’s disease get underway at Japan’s Central Social Insurance Medical Council, industry watchers see opportunity for potential drug price reform.
ODAC to weigh in on evidence for neuroblastoma drug
While the U.S. FDA recognizes the need for regulatory flexibility when it comes to US Worldmeds LLC’s eflornithine, also known as DFMO, to reduce the risk of relapse in pediatric patients with high-risk neuroblastoma, it will be asking the Oncologic Drugs Advisory Committee (ODAC) to weigh in tomorrow on whether the evidence from a single external-control trial and supportive data are sufficient to demonstrate effectiveness. The agency’s review team considered the use of an external-control trial reasonable for the indication, but it noted inherent limitations in interpreting the treatment effect, according to the FDA’s briefing document for the adcom meeting.
China invests $2.6B to build up traditional Chinese medicine infrastructure
The Chinese government has invested $2.6 billion into building up the traditional Chinese medicine (TCM) infrastructure and is actively exploring new models to integrate Chinese and Western medicine. With a history of more than 2,000 years, TCM is seen by many as a national treasure in China for its unique theories and practices and has received increasing attention and favorable government policies. About 30 national TCM innovation centers will be established by 2025, and the move is expected to improve the country's capability and to boost R&D of new herbal drugs.
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