Health Giants Strike Billion-Dollar Deals Amidst Regulatory Turmoil
Major pharmaceutical companies, Arrowhead and Novartis, have struck a $2 billion deal for a neuromuscular therapy license. Zymeworks halted its cancer drug development after trial setbacks. Former CDC heads criticize U.S. health decisions. Cigna's unit invests significantly in specialty pharmacy Shields, amidst UK bird flu outbreak and Merck's cholesterol drug success.
Arrowhead Pharmaceuticals has announced a groundbreaking agreement with Novartis, valued at up to $2 billion, granting Novartis an exclusive global license for Arrowhead's experimental neuromuscular therapy expected to combat conditions like Parkinson's Disease. Arrowhead receives $200 million upfront, with potential for milestone payments and royalties tied to future sales.
Zymeworks has stopped the development of its cancer treatment, ZW171, following unfavorable trial results. The trial, encompassing ovarian and non-small cell lung cancer patients, suggested the drug's limited benefits as a standalone therapy. This decision shifts focus away from the initially projected enrollment of 160 participants.
In other health news, nine former CDC directors criticized U.S. Health Secretary Robert F. Kennedy Jr., warning his decisions, including significant firings within the CDC, endanger public health. Additionally, Cigna's Evernorth Health unit plans a $3.5 billion investment into Shields Health to expand their specialty pharmacy presence. Meanwhile, the UK confirms a H5N1 bird flu outbreak, and Merck's cholesterol drug achieves significant trial success. President Trump challenges the efficacy of COVID drugs.
(With inputs from agencies.)
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