Harm Reduction Therapeutics announced that it received FDA approval for its over-the-counter RiVive naloxone nasal spray. Pittsburgh-based HRT designed the 3 mg naloxone HCl nasal spray for the emergency treatment of opioid overdose. Approval helps make free or low-cost OTC nasal spray widely available in the U.S. The FDA first approved Narcan 4 mg OTC…

Sanofi announced that it agreed to acquire Provention Bio, which develops therapeutics for immune-mediated diseases, for approximately $2.9 billion. Paris, France-based Sanofi agreed to acquire Provention Bio for $25 per share in cash. If the companies complete the acquisition, Sanofi expects a wholly-owned subsidiary to merge with and into Provention Bio. It intends to fund…

Pfizer and Seagen announced today that they entered into an agreement under which Pfizer acquires Seagen for $43 billion. The price of the acquisition comes to $229 in cash per Seagen share, totaling $43 billion. Both companies’ boards unanimously approved the transaction. Seagen develops antibody-drug conjugate (ADC) technology. Four of the 12 total FDA-approved and…

Eli Lilly (NYSE:LLY) announced today that it plans to execute price reductions of 70% for its most commonly prescribed insulins. Indianapolis-based Lilly also plans to expand its Insulin Value Program. This caps patient out-of-pocket costs at $35 or less per month. The company said it took these actions to “help Americans” in a “complex healthcare…

Engineers at MIT developed a new way to accomplish purification while manufacturing protein drugs, potentially reducing costs of production. The researchers say the manufacturing process represents one of the most expensive steps in manufacturing protein drugs. These kinds of drugs include antibodies or insulin. Purification involves isolating the protein from the bioreactor used to produce…

Chiesi announced today that it appointed former Baxter and Medtronic executive Giuseppe Accogli as its new group CEO. Parma, Italy–based Chiesi said Accogli’s appointment becomes effective April 3, 2023. The R&D-focused pharmaceutical company develops and commercializes products for the hospital, rare disease and adjacent specialty care settings. Accogli brings 25 years of international experience to…

Cardinal Health (NYSE:CAH) announced that it entered into a strategic collaboration with Palantir Technologies (NYSE:PLTR). The partnership pairs the companies to design a solution to give health systems and hospitals dynamic purchase decision insights. These insights help them quickly improve their bottom line. Dublin, Ohio-based Cardinal Health plans to integrate this solution into Foundry, Palantir’s…

Eli Lilly (NYSE:LLY) announced today that it plans to invest an additional $450 million at a North Carolina manufacturing facility. Lilly expects the investment to create at least 100 new jobs at the Research Triangle Park, North Carolina, plant. Its expansion includes additional parenteral filling, device assembly and packaging capacity. Indianapolis-based Lilly said this expansion supports…

Baxter (NYSE:BAX) today unveiled a strategic roadmap for its future that includes potential plans for its BioPharma Solutions (BPS) business. The company’s plans include a simplified commercial and manufacturing footprint, according to a news release. The company also intends to improve its capital structure. That includes a review of strategic alternatives for its BioPharma Solutions…

Healiva announced today that it acquired critical manufacturing assets from B. Braun’s B. Braun Medical AG Switzerland affiliate. The companies declined to disclose financial details for the acquisition. Lugano, Switzerland-based Healiva develops precision medicine for patients with chronic and acute wounds. It acquired a qualified cell bank for the manufacturing of its first cell therapy…