The Institute for Clinical and Economic Review, an influential drug pricing watchdog, raised the price estimate of two experimental gene therapies from Vertex Pharmaceuticals/CRISPR Therapeutics and Bluebird Bio. A price of up to $2.05 million per year, higher than the prior estimate in April of up to $1.9 million, would meet some commonly used thresholds for cost effectiveness. (Reuters)
Roche unveiled positive results for a rival to TG Therapeutics’ one-hour infusion for multiple sclerosis patients, sending the competitor’s stock crashing. Roche says it wants to expand Ocrevus to countries where there are fewer infusion centers, but investors hammered TG Therapeutics’ stock. (Seeking Alpha)
Despite the looming presence of the Federal Trade Commission, drugmakers’ dealmaking will plow ahead, according to analysts. The FTC’s stance on Amgen’s deal “throws some sand in the gears” and makes it harder to do larger deals, said Evan David Seigerman, biopharma analyst at BMO Capital Markets, but “these companies still have holes to fill.” (MarketWatch)
Over the past few weeks, Cathie Wood bought a significant number of shares in Verve Therapeutics, building up the position held in her ARK Innovation ETF. The biotech now accounts for just over 0.5% of her portfolio, and her company owns nearly 3.6% of its outstanding shares, but some analysts have their doubts about the company. (The Motley Fool)
An Ohio plastic surgeon’s state medical license was permanently revoked after a medical board determined she harmed patients while livestreaming their surgeries on the social media app TikTok. The Ohio Medical Board voted to ban Katharine Grawe — also known as Dr. Roxy in her plastic surgery practice “Roxy Plastic Surgery” and to her many TikTok followers — from ever practicing again in the state. (Associated Press)
