The Swiss pharma’s dealmaking momentum continues in early 2024 with the acquisition of German biotech MorphoSys in an effort to strengthen its oncology portfolio.
Backed by Gilead Sciences (GILD.O) and Bain Capital Life Sciences Opportunities, Kyverna increased the pricing of its IPO and now plans to raise up to $304.5 million by selling 14.5 million shares priced between $20 and $21 apiece.
The popularity of a new generation of weight-loss medicines is inspiring a growing number of drugmakers to pursue paths emulating Eli Lilly’s (LLY.N) highly-effective Zepbound, but Amgen is taking a unique approach.
According to the FDA, Lilly’s Mounjaro is available only in limited quantities through early March 2024.
“We are very pleased with the agreement to acquire the three Catalent manufacturing sites which will enable us to serve significantly more people living with diabetes and obesity in the future,“ said Lars Fruergaard Jørgensen, president and chief executive officer at Novo Nordisk.
The biotech is taking a synergistic approach to obesity with two muscle-preserving antibodies set to enter a Phase II study in mid-2024 in combination with existing incretin-based treatments.
Alto Neuroscience and Fractyl Health provided further momentum to the recent spate of biotech initial public offerings, with both companies going public on Friday morning in respective $128 million and $110 million IPOs.
The Chicago-based drugmaker has been counting on revenues from its newer immunology medicines to help make up for declining sales of its blockbuster arthritis drug Humira.
The company’s new anemia drug Reblozyl and its already off patent blood cancer drug Revlimid outperformed Wall Street forecasts.
ReutersRegeneron beat Wall Street estimates for fourth-quarter revenue on Friday as sales of its blockbuster eye drug Eylea met drugmaker’s preliminary estimates target.
