Shares of Ataibeckley Inc. (NASDAQ:ATAI) were trading at $7.12, up $1.75, or 32%, on word that Eli Lilly and Co. is taking over the psychedelics firm for $6.75 per share in cash upon closing plus up to $2.50 per share in the form of a contingent value right related to milestones for two Ataibeckley compounds. The terms work out to $2.8 billion up front plus as much as $1 billion if development and regulatory plans go as hoped. Ataibeckley’s lead asset, BPL-003 (mebufotenin benzoate), is a synthetic form of 5-MeO-DMT given intranasally for treatment-resistant depression.

US FDA approves Merck's Lipfendra, first oral PCSK9 for LDL-C

Branded Lipfendra, Merck & Co. Inc.’s oral PCSK9 inhibitor, enlicitide, part of the FDA Commissioner’s National Priority Voucher pilot program, won U.S. approval to reduce low-density lipoprotein cholesterol (LDL-C) in adults with hypercholesterolemia, including heterozygous familial hypercholesterolemia. Analysts, who say the approval came earlier than expected, are estimating peak sales of about $5 billion for the novel macrocyclic peptide that inhibits the binding of PCSK9 to LDL receptors. Lipfendra will be dosed in 20-mg tablets, used in combination with diet and exercise, and compete with injectable PCSK9 inhibitors at a significant discount. News of the approval bumped Merck’s shares (NYSE:MRK) up by nearly 4% to $128.02 midday on July 16.

Advancell raises $315M to power global isotope strategy

Advancell Co. Ltd. has raised an oversubscribed $315 million series D round to accelerate its push to become a fully integrated global radiopharma developer, funding late-stage clinical development alongside isotope supply and manufacturing infrastructure. The financing is one of the largest private rounds raised by an Australian biotech and will support phase III trials of lead candidate ADVC-001, a lead-212 prostate-specific membrane antigen-targeted radioligand therapy for metastatic castration-resistant prostate cancer.

Industry hits back as rebate on drugs more than doubles in Germany

Rebates on sales of patented drugs in Germany are to increase from 7% to 15.5%, following passage of an act to reduce healthcare spending across the board. There also will be a 9% rebate on patented vaccines, whilst at the same time prices will be frozen until 2030 and price-volume controls will be introduced to restrict the amount spent overall. “The new law will lead to global companies no longer investing in Germany, jobs being lost, and innovative medicines no longer being available in Germany,” said Han Steutel, president of the Association of Research-based Pharmaceutical Companies. “One of Germany's last successful, innovative industries will thus be destroyed," he said.

BIO Asia-Taiwan 2026: Capital remains selective in ‘barbell’ biotech market

Signs of recovery are emerging in the biotechnology investment sector, although investors across Asia say that capital is flowing selectively to companies that can demonstrate clinical differentiation, strong management teams and a clear path to commercialization. “Capital still points to good science,” Richard Hsieh, managing director at Raymond James, told the audience at BIO Asia-Taiwan in Taipei. “Investors are not investing indiscriminately … [but] the market has shifted dramatically compared to last year.” The comments come as biopharma financings in the first half of 2026 doubled from last year to approach pandemic highs.

Abbott raises full year guidance, bullish on outlook for CGM and electrophysiology

Abbott Laboratories raised its full-year 2026 adjusted diluted adjusted earnings per share guidance to $5.45 to $5.60, from previous range of $5.38 to $5.58, after a strong performance in the second quarter. Growth was driven by its medical devices business and cancer diagnostic unit. Looking ahead, the company expects to see accelerated growth in its diabetes unit driven by opportunities to expand the adoption of continuous glucose monitors. Abbott is also investing in its electrophysiology portfolio and believes it is well positioned to gain market share in the fast-growing market.

Labcorp, Tactile Systems resolve FCA allegations

Two med-tech companies agreed to settlements this week with the U.S. government to resolve False Claims Act (FCA) allegations that they submitted Medicare claims for medically unnecessary testing and devices. Labcorp Holdings Inc. agreed to pay $14.5 million in a settlement involving urine testing claims, and Tactile Systems Technology Inc. will pay nearly $551,000 to resolve a whistleblower suit related to its Medicare billing for pneumatic compression devices.

CLIA regs may be in for an update

Citing the significant advancements made in lab testing technologies since the Clinical Laboratory Improvement Amendments (CLIA) were implemented nearly 40 years ago, the U.S. CDC and Center for Medicare and Medicaid Services are considering updating the regulations to reflect today’s technology. Toward that end, the agencies are asking for public input on specific areas in which the CLIA regulations may need to be modernized to better reflect current knowledge and advancements in laboratory testing.

Also in the news

Advancell, Aqtual, Argenx, Aspen, Attovia, Axsome, Bambusa, Biocryst, Biogen, Bpgbio, Braveheart, Bruker, Cardiff, Caredx, Celcuity, Chai, Clearside, Corrixr, Crescent, Decoy, Envue, Fractyl, Glucotrack, Kairos, Kelun-Biotech, Kestra, Leica, Lōkahi, Merck, Meridian, Moderna, Neko Health, New Phase, Noscendo, Orasis, Pfizer, Profound, Prolynx, Q32, Rani, Rectify, Roche, Sandoz, Sanofi, Senhwa, Senti, Simris, Slate, Spinogenix, Spur, Statlab, Think Surgical, Tytocare, Veradermics