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Home » Newsletters » BioWorld

BioWorld

Aug. 8, 2022

View Archived Issues
Oxbryta

Pfizer’s on a spree as it buys GBT for $5.8B

Pfizer Inc. plans to pay about $5.8 billion – total equity value – for Global Blood Therapeutics Inc. (GBT) and its oral sickle cell disease (SCD) treatment Oxbryta (voxelotor). The company reported the enterprise value as $5.4 billion, which includes debt and net cash. If completed, the GBT buy would be the second largest M&A in 2022 after Pfizer’s $6.7 billion buyout of Arena Pharmaceuticals Inc. Oxbryta, which netted about $195 million in sales in 2021, gained U.S. FDA approval in November 2019 for the treatment of SCD in adults and pediatric patients ages 12 and up. The FDA later expanded Oxbryta’s approved uses to SCD patients 4 years of age and older in December 2021. Read More

US Rx price negotiations a step away from law

Within a few weeks, government price negotiations for some prescription drugs, as well as limits on annual price increases, could be the law of the land in the U.S. With the Senate passing a slimmed-down version of H.R. 5376 through reconciliation Aug. 7, the House is expected to make a brief return Friday from its August recess to vote on the changes and conference the differences between its bill and the Senate version. Then it’s on to the president’s desk for the signature that will enact the package of health care, tax and climate provisions. Read More
Psychiatric disorders illustration

Karuna shares pop as phase III trial of schizophrenia drug Karxt hits its marks

Shares in Karuna Therapeutics Inc. soared Aug. 8 as the biotech moved closer to a breakthrough for schizophrenia therapy after its potential first-in-class drug Karxt (xanomeline + trospium) met its goals in a closely watched phase III trial. Analysts said results from the Emergent-2 trial were at the top end of what was expected, lifting Karuna’s shares (NASDAQ:KRTX) 71.8% to a 52-week high of $241.19. Read More

Pressure succumbs to baxdrostat in Cincor phase II as hypertension picture Brightns

Doctors will “unequivocally view as a major advance” Cincor Pharma Inc.’s oral baxdrostat for patients with treatment-resistant hypertension, said Deepak Bhatt, director of interventional cardiovascular programs at Brigham and Women’s Hospital and professor at Harvard Medical School. “There are a lot of these folks out there, and physicians don’t know what to do with them right now,” he said, noting that many end up in emergency rooms. Read More
Cell research illustration

Oricell nets $120M in series B round for cell therapies

Oricell Therapeutics Co. Ltd. has raised $120 million in a series B financing to support development of its cell therapy pipeline and technology platform, as well as the construction of a manufacturing plant. The round was jointly led by Qiming Venture Partners and Quan Capital Management LLC. Read More

ICYMI: Week in review, Aug. 1-5, 2022

A quick look back at top stories.

Read More

Appointments and advancements for Aug. 8, 2022

New hires and promotions in the biopharma industry, including: Chimerix, Effector, Longhorn, Neoimmunetech, Transcenta. Read More

In the clinic for Aug. 8, 2022

Clinical updates, including trial initiations, enrollment status and data readouts and publications: Akebia, Cognition, Dizal, H. Lundbeck, Kazia, Otsuka, Tarsus, United. Read More

Other news to note for Aug. 8, 2022

Biopharma happenings, including deals and partnerships, grants, preclinical data and other news in brief: Biomx, Biontech, Genmab, Nuvalent. Read More

Regulatory actions for Aug. 8, 2022

Regulatory snapshots, including global drug submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Abivax, Acadia, Astrazeneca, JCR, Marker, Neurocrine, Sosei. Read More

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