Novartis has entered a $150 million deal with Monte Rosa Therapeutics to develop molecular glue degraders targeting the immune signaling protein VAV1, which is considered "undruggable." The partnership could yield up to $2.1 billion in additional payments based on development milestones. Monte Rosa will complete the ongoing Phase 1 study of MRT-6160, while Novartis will manage further development, with both companies sharing profits and losses from commercialization.
Ottimo Pharma has launched under the leadership of former Seagen CEO David Epstein, focusing on a bi-functional antibody, jankistomig, that targets both PD-1 and VEGFR2 to enhance cancer immunotherapy. The startup aims to initiate its first clinical trial next year, with backing from Medicxi. Epstein emphasizes the drug's potential to significantly benefit patients with various solid tumors, while industry veterans Mehdi Shahidi and James Sabry join the team to drive development and strategy.
David Epstein, the former CEO of Seagen Inc., has launched a new biotech company, Ottimo Pharma, focused on developing a drug that addresses multiple cancer vulnerabilities. This innovative approach includes targeting a protein associated with Merck & Co.'s successful treatment, Keytruda. The company emerged after four years of development in secrecy.
Pfizer reported a net profit of Rs 158.4 crore for Q2 2024, with a revenue increase of 2.3%. Meanwhile, CAMS saw a significant 45% rise in profit after tax, reaching Rs 122.5 crore for the quarter ending September 2024, alongside a 33% growth in revenues from operations to Rs 365.17 crore.
Vaud pharmacists express frustration over low reimbursements for Pfizer vaccines and other medications, which threaten their economic viability, especially in rural areas. They urge Federal Councillor Elisabeth Baume-Schneider to recognize their essential role in healthcare and engage in dialogue to adjust reimbursement rates that reflect the full scope of their services.
Sanofi's third-quarter earnings surged 25% in its vaccines division, driven by strong sales of Beyfortus, its RSV antibody for infants, which generated 645 million euros. Overall, the company reported total sales of $13.4 billion, exceeding Wall Street expectations and reflecting nearly 16% growth. The recent approval of a new manufacturing line aims to enhance Beyfortus supply amid high demand, ensuring access for all eligible infants in the U.S.
The CDC's advisory panel has recommended lowering the routine pneumococcal vaccination age from 65 to 50, potentially expanding the market for vaccines like Merck's Capvaxive and Pfizer's Prevnar. Analysts have adjusted sales forecasts, anticipating significant revenue growth for these vaccines, particularly for Merck in the near term, though competition from Vaxcyte's candidate may emerge by 2028.
The FDA has expanded the approval of Pfizer’s RSV vaccine, Abrysvo, to include adults aged 18 to 59 years at increased risk of respiratory syncytial virus, in addition to those aged 60 and older and pregnant women. Despite three available vaccines, uptake remains slow, partly due to CDC recommendations focusing on higher-risk individuals over 75. GSK has also received expanded approval for its RSV vaccine, Arexvy, for adults aged 50 to 59.
An activist campaign led by Starboard Value against Pfizer has taken an unexpected turn, diverging from the typical strategy of quietly accumulating shares before launching a surprise initiative. The situation has become complicated, straining relationships and raising questions about the future of the campaign. For further insights, follow the correspondents on social media for updates.
Starboard Value is urging Pfizer's board to hold management accountable for a pattern of underperformance, citing missteps in acquisitions and a lack of innovation. Despite a significant revenue boost from COVID-19 products, Pfizer has struggled to maintain growth and recently withdrew a $5.4 billion sickle cell drug acquisition. The company's stock has halved since pandemic highs, and Starboard's push for change has faced challenges, including a high-profile withdrawal of support from former Pfizer executives.
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