Top baby formula makers Reckitt Benckiser and Nestle ramped up supplies to the United States to resolve a shortage that has emptied shelves and caused panic among parents. Leading U.S. manufacturer Abbott Laboratories on May 16 announced an agreement with the Food and Drug Administration to resume production of baby formula at the company’s Michigan plant, marking a major step towards resolving the nationwide shortage.
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AstraZeneca moved to bolster the company’s COVID-19 portfolio of antibodies on May 17 with a $157 million licensing deal for experimental therapies developed by newly launched biotech RQ Bio.
The United States will allow baby formula imports from foreign makers that do not usually sell their products here, the Food and Drug Administration said on May 16, as it tries to ease a nationwide shortage that has left parents scrambling to feed their babies.
A chain of events possibly triggered by unrecognized infection with the SARS-CoV-2 coronavirus could be causing the mysterious cases of severe hepatitis reported in hundreds of young children around the world, researchers suggest.
The U.S. Food and Drug Administration decided not to authorize the antidepressant fluvoxamine to treat COVID-19, saying the data has not shown the drug to be an effective therapeutic for fighting the virus.
U.S. health regulators are expected to authorize a booster shot of Pfizer/BioNTech’s COVID-19 vaccine for children aged 5 to 11 as soon as May 17, the New York Times reported on May 16, citing people familiar with the matter.
Abbott agreed to enter into a consent decree with the U.S. Food and Drug Administration related to the company’s Sturgis, Mich., infant formula plant. The decree is an agreement between the FDA and Abbott on the steps necessary to resume production and maintain the facility. This does not affect any other Abbott plant or operation. The decree is subject to court approval.
Standing tall in bright red hazmat suits, five North Korean health workers stride towards an ambulance to do battle with a COVID-19 outbreak that – in the presumed absence of vaccines – the country is using antibiotics and home remedies to treat. The isolated state is one of only two countries yet to begin a vaccination campaign and, until last week, had insisted it was COVID-free. Now North Korea is mobilizing forces including the army and a public information campaign to combat what authorities have acknowledged is an “explosive” outbreak.
Leading life sciences venture firm Sofinnova Partners entered into a long-term strategic and financial partnership with Apollo, a high-growth, alternative asset manager looking to expand its presence in the life sciences.
In recent months, the biotech and biopharma industries have been struggling with layoffs and dropping stocks. However, some companies are still experiencing success. Sanofi, AstraZeneca, Avillion and Diadem recently announced positive clinical results, providing positive news for patients with multiple myeloma, asthma and Alzheimer’s disease.