Rédaction Africa Links 24 with Damian Garde
Published on 2024-03-19 13:53:19
The biotech industry is constantly evolving, with new developments and breakthroughs happening all the time. In this article, we will discuss some of the latest news and updates in the field of biotechnology.
AstraZeneca, a leading pharmaceutical company, recently announced its acquisition of Fusion Pharmaceuticals in a deal worth over $2 billion. Fusion Pharmaceuticals is known for its work in targeted radiation therapies for cancer, an area that has been growing rapidly in recent years.
Another company making waves in the biotech industry is Crinetics Pharmaceuticals, which reported positive results from a Phase 3 study of its experimental drug paltusotine in patients with acromegaly. The company plans to submit a marketing application to the FDA later this year.
PureTech Health also made headlines with a proposed return of $100 million to its shareholders through a tender offer of its shares. This move came after the company made nearly $300 million from its stake in Karuna Therapeutics, which was acquired by Bristol Myers Squibb.
Madrigal Pharmaceuticals raised $600 million in a follow-on stock offering following the approval of its drug to treat the liver disease known as MASH. These developments show the continued growth and innovation in the biotech industry.
In other news, Orchard Therapeutics received FDA approval for its gene therapy Lenmeldy, which can almost cure metachromatic leukodystrophy, a rare inherited disorder. This marks a significant milestone in the field of gene therapy and rare disease treatment.
WuXi AppTec, a Chinese company that provides development and manufacturing services for drug companies, recently reported that a U.S. ban would cut its business by two-thirds. This comes as Congress considers legislation that would ban U.S. companies from doing business with certain Chinese life sciences firms, including WuXi AppTec.
ABC recently aired a special hosted by Oprah Winfrey on new GLP-1 drugs and their impact on patients with obesity. The segment featured patients, doctors, and representatives from drug companies like Novo Nordisk and Eli Lilly, highlighting the growing recognition of obesity as a disease that requires medical treatment.
Geron, a biotech company with a long history in the industry, has seen a turnaround with its blood cancer treatment imetelstat. The drug is now on track for approval, and the company believes it could bring in billions in sales. This has sparked speculation about potential takeover interest from companies like Novartis, Incyte, and Jazz Pharmaceuticals.
Overall, the biotech industry is a dynamic and constantly evolving field with new breakthroughs and developments happening all the time. It is an exciting time to be involved in biotechnology, as companies continue to push the boundaries of science and innovation to develop life-changing therapies for patients around the world.
