Lilly has announced that Mike Mason, executive vice president and president of Lilly Diabetes and Obesity, will retire at the end of the year after 34 years with the company. The segment has been a key growth driver for the company and Lilly’s tirzepatide in particular has significant revenue growth potential. Lilly’s foray into the…
Lilly acquires Point Biopharma amid third FDA rejection in 2023
Eli Lilly and Company has recently received its third FDA rejection for the year 2023. The most recent came for lebrikizumab, the company’s investigational treatment for atopic dermatitis. FDA made the decision following an inspection of a third-party contract manufacturing organization. The agency had no complaints concerning the clinical data, safety, or labeling of lebrikizumab,…
Two continents, two milestones: Schott Pharma’s American commitment and European stock market debut
Drug containment company Schott Pharma recently celebrated major milestones related to its longstanding U.S. presence and high-profile stock market debut in Germany. The company, a division of specialty glass manufacturer Schott AG based in Mainz, Germany, commemorated 60 years of operations in the U.S. in August. Its primary American facility located in Lebanon County, Pennsylvania…
Pharma giants in 2023: Breaking down revenue streams by leading product categories
The pharma sector saw robust revenues across several key therapeutic areas in the second quarter of 2023, with oncology, immunology, and infectious diseases leading the pack. Merck’s blockbuster cancer drug Keytruda maintained its oncology dominance with sales topping $6 billion, while AbbVie’s Humira regained its crown as the world’s best-selling drug despite new competition. Gilead’s…
Major pharma players ST Pharm, Astellas and Celltrion unveil ambitious expansion blueprints
A handful of pharma companies, including ST Pharm, Astellas Pharma, Avalon Pharma, and Celltrion have recently announced expansion projects. Major pharma expansion efforts underway in South Korea South Korean CDMO firm ST Pharm announced a second manufacturing facility in its home country — in Ansan, Gyeonggi Province. The plant is geared toward supporting burgeoning demand…
Compass Pathways names board member at pivotal moment for psychedelic industry
Compass Pathways has named biotech exec Daphne Karydas to its board. Karydas is the president and chief financial officer of Flare Therapeutics Inc., which is developing drug discovery programs targeting transcription factors for cancer and other diseases. Signs point to a potential FDA approval of psilocybin and MDMA under strict controls in the coming years,…
Pfizer beefs up while J&J slims to focus on oncology
Both Johnson & Johnson and Pfizer are gearing up to release third-quarter results. While J&J continues to display resilience with its diverse portfolio, Pfizer continues to face challenges with waning demand for its COVID-19 therapies. To date, Pfizer’s stock is down by roughly a third so far this year, reflecting concerns over its ability to…
Novartis’s Sandoz spin-off and Sanofi’s portfolio slim-down reflect pharma push toward specialization
The pharmaceutical trend toward increasing concentration appears to be gaining momentum. On September 15, Novartis shareholders approved the company’s proposed spinoff of Sandoz, the generics and biosimilars unit. The company anticipates the deal to close in early October. Similarly, Sanofi is also taking a scalpel to its operations, offloading a selection of its central nervous…
New Bayer CEO Bill Anderson’s move to cut management mirrors his Roche playbook
Bill Anderson, who assumed leadership of Bayer in June, is eyeing cuts to the company’s mid- and upper-management. In addition to the cost-savings, Anderson expects the cuts to streamline decision-making. The moves are part of Anderson’s first step in bolder initiative to revamp Bayer’s operational dynamics in the face of investor pressures. It is relatively…
Pfizer’s revenue soared in the pandemic, but its stock valuation slipped relative to industry peers since 2000
In recent years, Pfizer has emerged as the largest Big Pharma firm. In 2022, its revenue surpassed $100 billion for the first time. But even though the pandemic has cemented the company as a leading pharmaceutical powerhouse — with a healthy M&A appetite — it does not count among the upper echelon of public companies…