Biopharma Breakdown: The Latest in Pharma and Biotech News

Pharma and BioTech Daily

Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma e Biotech world. This week's commercialization news includes Dupixent's success in a chronic hives study, Lilly's development of a weekly insulin shot, and BioMarin's plans for growth. The House backs a bill restricting China's role in US biotech, while Lykos CEO is set to depart after FDA rejection and layoffs. The newsletter also discusses key developments in cell therapy and offers insights on utilizing a direct-to-patient model in the healthcare industry. Various resources and upcoming events in the biopharma industry are also highlighted. Biopharma Dive provides in-depth journalism and insights into the latest news and trends shaping the biotech and pharma industries.BridgeBio has reduced its gene therapy budget after data from a trial on an adrenal gland medicine did not meet the company's investment threshold. GlaxoSmithKline has discontinued a herpes vaccine after it did not meet efficacy goals in a phase 2 study. Roivant has launched a new 'vant' focused on a hypertension drug. Centessa's sleepiness drug has shown promising results in early studies, leading to a rise in the company's shares. Additionally, Dupixent has succeeded in a chronic hives study, giving Sanofi and Regeneron a chance to resubmit their application for approval. Investors are also paying attention to Centessa's sleepiness drug. This news comes alongside updates on other pharmaceutical developments, such as Saxenda's effectiveness for children as young as 6 and Roche's expansion of R&D labs. Additionally, the newsletter covers upcoming events and resources for biopharma professionals. Biopharma Dive provides in-depth coverage of news and trends in the biotech and pharma industries, including clinical trials, FDA approvals, gene therapy, drug pricing, and research partnerships.Iowa has awarded Centene's subsidiary, Iowa Total Care, a Medicaid managed care contract worth $2.8 billion. Telehealth groups are urging Congress and the White House to extend controlled substance virtual prescribing before pandemic-era flexibilities expire. The Biden administration has finalized a rule raising mental health coverage standards for private plans. Steward Health Care received court approval to sell its three most valuable hospitals to Orlando Health for $439 million. The importance of data quality in realizing value from medical imaging data is emphasized by Enlitic. Payers are encouraged to optimize quality and grow revenue through key strategies in an upcoming webinar. Healthcare Dive provides in-depth journalism and insight into the most impactful news and trends shaping healthcare across various sectors like health IT, policy & regulation, insurance, digital health, payer-provider partnerships, and value-based care.Novo Nordisk showcased its investigational GLP-1 pill that resulted in a remarkable 13% weight loss. This comes after positive Phase I results for the pill, which analysts compared to weight loss pills being developed by Lilly and Pfizer. Expanded coverage for cardiovascular disease under Medicare could have significant implications for Novo's obesity drug, Wegovy. Analysts estimate that the expansion of Wegovy's label beyond obesity could lead to an annual Medicare spending of $145 billion. Meanwhile, GSK has abandoned the development of its herpes vaccine after disappointing Phase I/II results, and Crispr Therapeutics and Vertex Pharmaceuticals are facing challenges in making their sickle cell gene therapy profitable. Novo's other drug, Saxenda, was found to effectively and safely lower BMI in children, according to a study published in NEJM. Additionally, Lilly continues to make progress with its once-weekly insulin, while Bain has raised $3 billion for a fund supporting life sciences companies. The biopharmaceutical industry continues to see changes, with Biomarin facing challenges and Terns moving forward in the obesity spac