Novartis has agreed to buy gene therapy company AveXis for $8.7 billion. Novartis CEO Vas Narasimhan is betting big on AveXis’s main spinal muscular atrophy drug, saying, “We believe the medicine would have a multi-billion-dollar peak sales potential.” (CNBC)
Merck’s Keytruda met its primary goal in a lung cancer trial. The cancer drug was found to help previously untreated lung cancer patients live longer. The successful trial gives additional momentum to Merck, already considered the market leader in lung cancer treatments. (Reuters)
Mega-mergers are reshaping the business of medical care. Patients are moving away from private practices and toward retail clinics and urgent care centers. Experts warn that consolidation in the industry is just getting started. (New York Times)
Two “pharma bros” have made their living helping drugmakers raise prices by staggering rates. Patients aren’t paying — yet — but the duo’s tactics have exposed fundamental flaws in the drug pricing ecosystem. (Bloomberg)
Although antidepressants are often approved for only short-term use, millions of Americans are using them long-term. Some users have found that quitting comes with intense withdrawal symptoms they were never warned about. (New York Times)
