The U.S. Department of Health and Human Services (HHS) has awarded $1.4 billion to support vaccine clinical trials to test new, more effective and longer-lasting COVID-19 vaccines. In all, Project NextGen is a $5 billion initiative from Biomedical Advanced Research and Development Authority (BARDA) and the National Institute of Allergy and Infectious Diseases (NIAID). The…
Regeneron agrees to spend up to $213M to acquire Decibel Therapeutics
To date, 2023 is shaping up to be a relatively brisk year for M&A deals. A recent case in point is Regeneron’s acquisition of Decibel Therapeutics. The centerpiece of the deal is DB-OTO, a gene therapy intended for patients with otoferlin-related hearing loss. The drug is in its first clinical trial. Regeneron agreed to pay…
DeSantis sets plan for Regeneron monoclonal antibodies to fight COVID-19
Battling its worst surge in COVID-19 cases, Florida has announced it will use Regeneron’s (NSDQ:REGN) REGEN-COV to protect its population. Florida Governor Ron DeSantis announced that the state would dispense the monoclonal antibody cocktail through mobile clinics and a rapid response unit in Jacksonville. DeSantis stressed that high-risk individuals, including the elderly, along with people…
CMS retreats from ‘most favored nation’ drug pricing scheme
Former President Trump’s plan to peg the price of some drugs to those paid in other developed nations was always controversial. Not long after Trump unveiled an executive order supporting the idea on Sept. 13, 2020, organizations, including PhRMA and Regeneron, filed lawsuits to block the rule. Several courts agreed that the policy, which CMS codified…
Regeneron exec pay draws backlash
Regeneron’s (NSDQ:REGN) top two execs, CEO Dr. Leonard Schleifer and CSO Dr. George Yancopoulos, are two of the best-paid in biotech. Two proxy advisory service firms, Glass Lewis (San Francisco, Calif.) and Institutional Shareholder Services (Rockville, Md.), are balking at Regeneron’s executive pay program and practices. The two firms are urging shareholders to oust George…
Trump’s ‘most-favored nation’ drug pricing scheme faces lawsuits
Almost immediately after President Trump indicated he planned on tying Medicare reimbursement for dozens of drugs to lower rates in other countries, it seemed certain that legal action was inevitable. Now, Trump’s executive orders related to drug pricing are attracting a growing number of lawsuits. Earlier this month, the Pharmaceutical Research and Manufacturers of America (PhRMA),…