Merck announced an antibody-based drug met the main goal of a mid-to-late stage trial testing it as a therapy to protect infants from disease caused by RSV. The drug, MK-1654, helped reduce the incidence of lower respiratory infection in infants compared to placebo, and met the safety goals of the study, Merck said. (Reuters)
Jaguar Health said a late-stage trial of a cancer drug failed to meet its main goal across all tumor types. The biotech’s stock tumbled around 70% following the announcement. (MarketWatch)
Pharmacy benefit manager executives testified before a House panel. The hearing came amid renewed, heightened scrutiny of PBMs by federal officials and agencies. (MM+M)
The number of active drug shortages fell to 300 in the second quarter of this year after hitting an all-time high of 323, according to a tracker from the American Society of Health-System Pharmacists. It’s the sixth straight quarter with at least 300 drugs in shortage, many of them critical to patient outcomes. (Axios)
Personal body care brand W, which was co-founded by boxer and YouTube personality Jake Paul, raised nearly $11 million in a Series A funding round. The investment values W at more than $150 million, according to executives. (The Wall Street Journal)
Click here to see yesterday’s Five things for pharma marketers to know.
