Publicis Groupe’s revenue fell 2.1% to $2.6 billion in the second quarter, with its U.S. healthcare business shouldering much of the blame. Analysts had expected organic revenue growth of more than 1%. CEO Arthur Sadoun described Publicis Health’s contract sales organization business as “very volatile, low margin, and non-core.” Here’s an in-depth look at Publicis Groupe’s Q2 performance. (Reuters)
FDA Commissioner Scott Gottlieb has released a “biosimilars action plan” to help lower the prices of expensive drugs. Gottlieb also accused drugmakers of using anti-competitive tactics, noting that many biosimilar launches have been delayed due to litigation. (STAT)
Roche’s lung cancer treatment showed positive progression-free survival data. IMpower 132, a combination of PD-L1 Tecentriq and chemo, has not yet been successful in overall survival. It could eventually contend with Bristol-Myers Squibb’s Opdivo-Yervoy combination and Merck’s Keytruda. (Endpoints)
The FDA is considering allowing short-term importation of drugs that are short in supply in the U.S. The policy could include treatments that have increased significantly in price, making it difficult for patients to access treatment. (CNBC)
Novartis has cut a $1.1 billion deal with MorphoSys and Galapagos for an eczema treatment. Novartis will handle future research and development, manufacturing, and commercialization costs while the other two companies continue with trials. It is the second dermatology drug Novartis has acquired since 2016. (Endpoints)
