The U.S. Securities and Exchange Commission halted registrations of U.S. initial public offerings (IPOs) by Chinese companies.
The U.S. Supreme Court on June 21 rejected a bid by an Amarin Corp. subsidiary to revive patents on the company’s heart drug Vascepa in a legal battle against generic drugmakers Hikma Pharmaceuticals Plc and Dr. Reddy’s Laboratories Ltd.
President Joe Biden on May 5 threw his support behind waiving intellectual property rights for Covid-19 vaccines, bowing to mounting pressure from Democratic lawmakers and more than 100 other countries, but angering pharmaceutical companies. Biden voiced his support for a waiver – a sharp reversal of the previous U.S. position – in remarks to reporters, followed swiftly by a statement from his top trade negotiator, Katherine Tai, who backed negotiations at the World Trade Organization.
Amryt inked an all-stock acquisition deal with Chiasma. The combined company will focus on rare and orphan diseases with three marketed products and a strong development pipeline.
The U.S. Food and Drug Administration released a briefing document on May 4 citing concerns regarding clinical data for ChemoCentryx’s investigational rare autoimmune disease therapy avacopan. ChemoCentryx is seeking approval from the FDA for the drug as a therapeutic agent for anti-neutrophil cytoplasmic auto-antibody-associated vasculitis (AAV).
Three biopharma companies became publicly traded companies and made their debut on the Nasdaq this week.
Oyster Point’s New Drug Application (NDA) for the dry eye disease therapy OC-01 was accepted for FDA regulatory review on the back of positive Phase III data.
Shares of Cellectis Therapeutics were up in trading after the gene-editing pioneer company forged a deal with Cambridge, Mass.-based Cytovia Therapeutics to develop immunotherapies based on gene-edited allogeneic CAR T-cells.
Publicly traded companies that have been heavily involved in developing therapies and vaccines for Covid-19 have experienced significant spikes in their stock prices from March 2020 to January 2021, including Germany’s BioNTech, which surged 187% in one year.
Myovant Sciences’ stock rocketed on news that the company was partnering with Pfizer to develop and commercialize Orgovyx (relugolix) for prostate cancer and women’s health.