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Gilead has withdrawn its bladder cancer treatment Trodelvy after a confirmatory study failed to demonstrate improved survival rates. Initially granted accelerated approval in 2021, the decision reflects the FDA's increased scrutiny of such approvals. Despite this setback, Trodelvy remains a key player in Gilead's oncology portfolio, particularly for breast cancer, where sales are projected to reach $1 billion by 2030.
Sanofi is investing 300 million euros for a 16% stake in a new joint venture with Orano Med to develop radiopharmaceuticals targeting rare cancers, particularly using the radioisotope lead-212. This partnership aims to leverage expertise in biopharma and nuclear technology to advance cancer treatment. The joint venture is valued at 1.9 billion euros, following Sanofi's recent licensing of an experimental drug for neuroendocrine tumors.
On October 15, major semiconductor stocks faced a significant selloff, with ASML plunging over 16% after disappointing guidance, marking its worst day since the pandemic. Other notable declines included KLAC down 15% and LRCX and AMAT both falling 11%. Despite this, leading semiconductors like NVDA, TSM, and AVGO held relatively steady, resulting in only a 5% drop in major semiconductor ETFs, while broader indices experienced losses between 0.7% and 1.4%.
Novo Nordisk is significantly expanding its operations in India, planning to double its global process leaders and increase its workforce by 16% to 5,000 by next year. The company has partnered with 10 local AI start-ups to enhance data management and efficiency, aiming to mirror its Denmark headquarters in Bengaluru within three years. As demand for its Wegovy and Ozempic drugs surges, Novo's India center now handles half of its global safety assessment work, contributing to critical drug development processes.
Two former Pfizer executives, Ian Read and Frank D’Amelio, have distanced themselves from activist investor Starboard Value's plans to overhaul the company, citing support for current management. Starboard alleges they were coerced into this stance, claiming threats of litigation and compensation clawbacks. The investor, which holds a $1 billion stake in Pfizer, is pushing for changes amid the company's declining profitability and challenges in the pharmaceutical market.
Eli Lilly has partnered with AI firm Insitro to advance drug development, focusing on metabolic diseases. The collaboration includes three agreements, allowing Insitro to retain global rights to its research while Lilly benefits from milestone payments and potential royalties. Insitro will utilize Lilly's delivery technology alongside its own innovations to target liver conditions and develop new treatments.
Investing in cancer research stocks offers both opportunities and risks, as companies in this sector can benefit from breakthroughs in treatment while facing challenges like lengthy drug development and regulatory hurdles. Key players include AbbVie, Bristol-Myers Squibb, and Illumina, which are at the forefront of innovative therapies and technologies. This investment not only aims for financial returns but also supports vital medical advancements in the fight against cancer.
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gilead withdraws trodelvy from bladder cancer market after negative trial results
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investing in cancer research stocks opportunities and risks for investors
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