Biotech Buzz: The Latest in Pharma and Biotech News

Pharma and BioTech Daily

Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma and Biotech world.The biotech industry is experiencing significant growth, with drugmakers in the U.S. and Europe raising $6.8 billion in venture capital funding in the first three months of the year. This trendline explores the evolving biotech market and highlights hotspots of startup activity. Stories included focus on an unorthodox investment firm supporting biotech's 'infrastructure', the rise in private biotech funding, and insights from biotech landlord Alexandria on research clusters and the sector's recovery.A study presented at the Alzheimer's Association International Conference showed that Novo Nordisk's GLP-1 drug liraglutide may slow cognitive decline in Alzheimer's patients by 18% compared to placebo over one year of treatment. Additionally, Novo's diabetes drug Ozempic was found to be linked to a lower risk for tobacco use disorder. Pfizer and Merck reported strong second-quarter earnings exceeding Wall Street expectations. Novo Nordisk's Ozempic was also found to potentially help diabetics quit smoking according to new research. Other news includes AstraZeneca's Calquence achieving positive results in a Phase III trial for CLL and Ventyx ending development of a Tyk2 inhibitor after a Phase II flop in Crohn's disease.Pfizer has decided to quit its Duchenne gene therapy program, resulting in the termination of 150 staff members. Incyte has also trimmed its cancer drug pipeline by discontinuing the development of five experimental treatments. The biotech market is seeing an increase in M&A activity, with companies like Boehringer making deals to add to their cancer drug pipeline. Overall, the industry is evolving with a focus on efficiency, effectiveness, and ethical innovation in clinical research.Sanofi's recent record sales quarter for its immunology drug Dupixent has boosted the company's confidence in its long-term strategy, following a previous dip in share value due to growth target adjustments. The company's spinoff of its consumer unit Opella is part of a trend among big pharma companies to focus on biopharma futures. Sanofi's Dupixent, with an expanding list of indications, is showing long-term value for the company and has the potential to become one of the best-selling drugs in the world by the end of the decade.Cleveland Clinic has appointed its first Chief AI Officer, Ben Shahshahani, to lead the health system's AI strategy, focusing on managing safety, ethics, and data security concerns. Healthcare organizations are facing obstacles in increasing patient response rates through phone communication. Healthcare Dive provides insights and news for healthcare leaders, covering various topics such as health IT, policy & regulation, insurance, digital health, payer-provider partnerships, and value-based care.GSK has partnered with Flagship to help find new drugs and vaccines, similar to recent alliances with Pfizer and Novo Nordisk. Boehringer has acquired startup Nerio for up to $1.3 billion to expand its cancer drug pipeline. Autobahn raised $100 million for neuropsych drugs, while a startup led by former J&J executives, Third Arc Bio, raised $165 million for cancer and immune disease drugs. The competitive market for obesity drugs is growing, with analysts expecting significant revenue from drugs like Novo's and Eli Lilly's.Biopharma Dive provides in-depth coverage of industry news and trends, covering topics from clinical trials to drug pricing and research partnerships.