Novartis’ Massive Purchase, Q3 Earnings, Regeneron’s Dropped Cell Remedy, Extra

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Novartis began the week early with a Sunday afternoon announcement of the acquisition of neuromuscular drug developer Avidity Biosciences for $12B. That’s the second largest purchase of the 12 months after Johnson & Johnson’s January acquisition of Intra-Mobile. The Avidity purchase might learn by way of positively to Dyne Therapeutics, as each are aiming to deal with neuromuscular illnesses with RNA-targeting therapies. Dyne shares have practically doubled over the previous month, leaping roughly 40% after Novartis’ information dropped.

The Avidity deal is the newest in an uptick on the pharma M&A entrance. Additionally this week, Eli Lilly doubled down on gene remedy with a choose up of Adverum Biotechnologies and its lead program for moist age-related macular degeneration. And Roche, which final month acquired 89bio in a $3.5 billion deal centered on a MASH candidate, mentioned in its third-quarter earnings name on Thursday that extra offers may very well be sooner or later. Lastly, past the large guys, Leerink Companions predicts which small- to mid-cap corporations may additionally be on the hunt for brand new pipeline goodies.

Following the dealmaking information, Novartis held its incomes name on Tuesday. CEO Vas Narasimhan downplayed the offers Pfizer, AstraZeneca and Amgen have made with the White Home, saying they don’t deal with the foundation of the drug pricing drawback President Donald Trump hopes to unravel.

On different earnings calls, BioMarin introduced plans to divest the hemophilia gene remedy Roctavian. Regeneron confronted additional questions on Eylea and points with the Catalent plant that’s been tripping up its regulatory purposes. However the firm didn’t deal with final week’s information that it was dropping a CAR T asset picked up from 2seventy bio. These are however two of the newest examples of underperforming belongings within the cell and gene remedy area.

BridgeBio had constructive information for sufferers with limb-girdle muscular dystrophy this week after acing a Part III trial for an investigational substrate supplementation remedy. Analysts predict the asset may very well be earlier than the FDA later this 12 months or early subsequent. 

Lastly, with the U.S. authorities shutdown happening a month, BioSpace takes a have a look at how the FDA is working.