Novavax Inc. on Monday halved its full-year revenue forecast as it does not expect further sales of its COVID-19 shot this year in the United States in the face of a global supply glut and soft demand, sending its shares down 33%.
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Shares of Global Blood Therapeutics (GBT) continue to surge in premarket trading after Pfizer officially announced it was acquiring the hematology-focused company for $5.4 billion in order to bolster its presence in the multi-billion dollar rare disease market.
On Monday, Boston biopharma Karuna Therapeutics released results from the Phase III EMERGENT-2 trial showing that KarXT (xanomeline-trospium), its lead candidate, can strongly reduce symptom severity in schizophrenia patients.
The U.S. Senate passed the Inflation Reduction Act on Sunday, with Vice President Kamala Harris casting the tie-breaking vote to settle the verdict, which was split 50-50 along party lines. The bill, which is expected to have wide-ranging implications for the pharmaceutical industry, will still need to go to the House of Representatives, but with a Democratic majority, it is expected to pass before the end of the week.
Booster campaigns using upgraded shots specifically targeting the Omicron variant are expected to increase demand in autumn. Pending regulatory approval, BioNTech said, both of its adapted vaccines would be available in time for the campaigns.
Italy opened its vaccination campaign against monkeypox on Monday, as case numbers have increased at a time when health authorities are reporting vaccine shortages worldwide.
Unlike the fierce competition with major international drugmakers such as Pfizer, Moderna and AstraZeneca to roll out vaccines to tackle the coronavirus pandemic, there are no established rivals for either Lyme disease or Chikungunya.
A small study of Amgen Inc.’s Lumakras drug combined with immunotherapy found it helped 29% of advanced lung cancer patients, but liver toxicity was high and further study is needed, the company said ahead of the data presentation on Sunday at the World Conference on Lung Cancer in Vienna.
The United States declared monkeypox a public health emergency last week, an effort to bolster the U.S. response to contain the outbreak. The virus continues to be largely transmitted among gay and bisexual men, but experts say the disease could spill over into other populations, especially due to vaccine shortages.
A collaborative team of researchers from Harvard University, Columbia University and Rutgers University has unlocked the mechanism of the danger signal adenosine triphosphate (ATP). The discovery could go on to influence the way in which immunomodulators, such as vaccines and allergy medications, are formulated.