As 2023 draws to a close, the pharma industry finds itself at an inflection point. On the one hand, stubbornly high inflation rates, a dearth of talent, supply chain hurdles, and a more challenging regulatory climate threaten profitability. But on the other, the rapid advances in areas ranging from cell and gene therapy and IT…
Roche enters red-hot metabolic disease market with Carmot Therapeutics acquisition
Swiss pharma giant Roche had a limited presence in metabolic disease, but the firm has agreed to take over obesity drug developer Carmot Therapeutics for $2.7 billion, rivaling the dominance of next-gen obesity drug developers Novo Nordisk and Eli Lilly. Carmot had been a rising star in biotech, attracting significant funding, including a $150 million…
Pfizer restructuring push hits Ireland
After encountering a significant drop in demand for its COVID-19 products, Pfizer announced a significant restructuring aimed at ultimately saving $3.5 billion globally. The initiative continues with cost-cutting efforts in Ireland where the company plans to consolidate offices and eliminate jobs. The pharmaceutical giant, which was the biggest in the world in 2022, recently announced…
Forecast 2024: Pharma industry grapples with regulatory hurdles and AI opportunities
Heading into 2024, the pharma industry finds itself in uncharted waters. On the one hand, the sector’s commitment to R&D investment and innovation output is likely to remain strong, with tools based on AI, automation and real-world data promising more streamlined drug candidate optimization. Additionally, the pharma sector is typically resilient in economic downturns. Financial…
Senators urge action on Beyfortus supply as RSV threat looms
Approved on July 17, 2023, AstraZeneca and Sanofi’s Beyfortus (nirsevimab-alip) occupies a unique niche as a respiratory syncytial virus (RSV) F protein-directed fusion inhibitor for neonates and infants. With RSV rates surging, the drug quickly fell into a shortage. The CDC and FDA recently made available more than 77,000 additional doses of Beyfortus. Meanwhile, Senate…
Navigating the new regulatory terrain pharma companies face with IRA and 340B
The ever-evolving landscape of pharmaceutical regulations has long been challenging to navigate, but now pharma companies face additional complexities with the introduction of the Inflation Reduction Act (IRA) and the ongoing implementation of the 340B drug pricing program. In recent years, the IRA has made waves for its impact on the pharmaceutical industry, including proposals…
AstraZeneca faces profitability dip in Q3 2023 despite revenue bump; bets big on obesity
Cambridge, UK–based AstraZeneca continued its strong growth trajectory in Q3 2023, expanding its cardiometabolic and obesity pipeline with a focus on GLP-1 receptor agonists. In particular, AstraZeneca has a licensing agreement with Eccogene for ECC5004, a potential oral GLP-1RA for obesity and cardiometabolic conditions, represents the company’s strategic focus on this emerging therapeutic area, which…
Commitment to operational efficiency and partnerships yield dividends for Teva
Teva’s strategy to boost its operational efficiency and tap strategic partnerships seems to be paying off. In its Q3 earnings report, Teva announced that global revenues were up to $3.9 billion, marking a 7% rise from the previous year’s third quarter. Factors fueling the growth include the robust performance of their specialty medications, Austedo and…
Transparency-Rx promises reform in the PBM landscape
Pharmacy benefit managers (PBMs) have recently emerged as a punching bag with the pharma trade group PhRMA accusing such orgs of driving up drug prices. Now, an alliance of PBMs known as Transparency-Rx has emerged, promising a reform initiative in a digital campaign attempting to put pressure on rival PBMs. This coalition’s efforts could reshape…
Pfizer’s $3.5B cost-cutting strategy hits Peapack site in New Jersey
After news emerged regarding Pfizer’s plans to close sites in North Carolina, the company is adding New Jersey to the list. The company expects its Peapack facility to cease operations in early 2024. A Worker Adjustment and Retraining Notification(WARN) Notice notes that 791 workers could potentially be cut from its Somerset County corporate office. The…