The Food and Drug Administration and Centers for Disease Control and Prevention are ready to move quickly to counter the threat posed by the Omicron variant, President Biden said Monday. He noted the administration is working with Pfizer, Moderna and Johnson & Johnson to develop plans for a new vaccine if one is needed. (CNBC Weekly)

Scientists are scrambling to understand the risk of the Omicron variant as well as the efficacy of existing vaccines against it. Based on preliminary findings, experts believe current vaccines may still reduce the risk of hospitalization and death. (The New York Times)

Blueprint is acquiring Lengo Therapeutics for $250 million in cash. The deal gives Blueprint access to Lengo’s pre-clinical non-small cell lung cancer program, LNG-451. (Endpoints News)

Yvonne Greenstreet will become CEO of Alnylam Pharmaceuticals on January 1, the company announced on Monday. Greenstreet will be the sixth woman to lead one of the 68 biopharma companies with a market value of $5 billion or more listed on NASDAQ or the New York Stock Exchange. (STAT)

Hospitals and healthcare providers are preparing to lose up to a third of their staff as the vaccine mandate deadline of January 4 approaches. As of September, nearly 30% of workers at some 2,000 hospitals across the country were unvaccinated, according to the CDC. (The Wall Street Journal)