Pfizer Inc. upped its original $7.3 billion September offer to buy Metsera Inc., but the obesity specialist maintained that a now-improved unsolicited bid by semaglutide developer Novo Nordisk A/S is superior. Novo offered $9 billion on Oct. 30, after losing out in the initial auction process, prompting Metsera’s board to take another look. By Nov. 3, Pfizer had filed two lawsuits alleging breach of contract and antitrust regulation violations, but ended up improving its offer to about $8.1 billion, according to Metsera. Then, Novo raised its bid to $10 billion. The latest back-and-forth drove up Metsera’s shares to a 52-week high of $73.60 on Nov. 4. They were trading midday at $72.75, up nearly 20%, or $12.02.

UCB’s ultra-rare disease drug Kygevvi approved by FDA

The U.S. FDA has approved UCB SA’s Kygevvi (doxecitine and doxribtimine), the first treatment for the ultra-rare, genetic and life-threatening mitochondrial disease thymidine kinase 2 deficiency. The pyrimidine nucleoside therapy is approved for adults and pediatric patients who have had the onset of symptoms up to age 12. UCB estimates that globally the disease affects about 1.64 people in every 1 million. The approval was bolstered by phase II study data showing efficacy based on comparing overall survival in treated participants with an external control group of untreated participants. Treated patients ended up living longer than their counterparts, a drop of 86% in their overall risk of death.

Stock tanks for Prelude on pipeline adjustment, Incyte deal

Shares of Prelude Therapeutics Inc. (NASDAQ:PRLD) were trading at $1.70, down $2.28, or 57%, after word of a business update and an option agreement with Incyte Corp. for Prelude’s mutant selective JAK2V617F JH2 inhibitor. The latter deal involves a $35 million up-front payment and a $25 million strategic equity investment, plus $100 million if Incyte exercises the option to acquire the program, and up to $775 million in potential milestone-related rewards plus royalties. JAK2V617F is the primary driver mutation responsible for disease progression in most patients living with myeloproliferative neoplasms, impacting about 95% of patients with polycythemia vera, 60% with essential thrombocythemia, and 55% of patients with myelofibrosis. In the larger update, Prelude said that drug development at the center of the Incyte deal will be prioritized, along with an effort in KAT6A selective degradation, while further work will be halted with SMARCA2 selective degrader programs.

Santhera reports positive data in Duchenne’s, as Sarepta’s confirmatory studies miss

Five-year follow-up data for Santhera Pharmaceuticals AG’s Duchenne muscular dystrophy drug, Agamree (vamorolone), confirm that its efficacy in preserving muscle function is comparable to standard-of-care corticosteroids, but that overall the side-effect profile is more benign. In patients treated with Agamree, time to loss of ability to walk was the same as seen with traditional corticosteroids; however, there was a reduced occurrence of some of the most debilitating side effects that often lead to the discontinuation of treatment with corticosteroids.

Lepu’s MRG-003 cleared as China’s first EGFR ADC for advanced NPC

Lepu Biopharma Co. Ltd. said Oct. 30 it won Chinese approval of a novel antibody-drug conjugate (ADC), Meiyouheng (becotatug vedotin injection/MRG-003), making it China’s first epidermal growth factor receptor (EGFR)-directed ADC for advanced nasopharyngeal cancer (NPC). According to the disclosure by Lepu Chairman and Executive Director Pu Zhongjie on the Hong Kong Stock Exchange, China’s NMPA cleared MRG-003 under the brand name of Meiyouheng as a second-line-plus treatment for patients with recurrent or metastatic NPC. Meiyouheng is Lepu’s ADC comprising an EGFR-targeted monoclonal antibody conjugated with potent microtubulin inhibiting payload monomethyl auristatin E via a valine-citrulline linker.

Neurocrine to license Transthera NLRP3 inhibitor in $881M deal

Transthera Sciences Inc. is out-licensing one of its preclinical NLRP3 inhibitors to Neurocrine Biosciences Inc. under a collaboration agreement worth $881.5 million. Under deal terms, Transthera will receive an undisclosed up-front payment and is eligible to receive research and development and sales-based milestone payments up to $881.5 million. In exchange Neurocrine gains an exclusive global license to develop, manufacture and commercialize NLRP3 inhibitors from Transthera’s NLRP3 portfolio outside of greater China, while Transthera retains rights to the NLRP3 portfolio in greater China (mainland China, Hong Kong, Taiwan and Macao). The agreement includes a research collaboration between the parties to further broaden the NLRP3 technology.

Big pharma drives surge in biopharma job cuts in 2025

In 2025, the biopharma industry has undergone a wave of workforce reductions that surpasses previous years’ trends, with multiple major pharma companies announcing sizeable job-cuts. Through early November 2025, there were 32,824 biopharma job losses announced, compared to 19,381 in the full-year 2024. Big pharma firms like Novo Nordisk A/S, Merck & Co. Inc. and Bayer have not been insulated from disruption, with all three reporting thousands of job cuts each in 2025.

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