Rite Aid is said to be preparing bankruptcy filings while facing opioid lawsuits. This has been an embattled long-term story for Rite Aid, considering the number of locations that they sold off years ago and just to make sure that they could kind of right size their own structure. (Yahoo! Finance)
The Federal Trade Commission paused a challenge against Amgen’s $27.8 billion acquisition of Horizon Therapeutics. The suspension of the challenge will allow the FTC’s commissioners to mull over whether to settle the case and allow Amgen to go through with the deal with conditions. (The Wall Street Journal)
Neuroscience startup Neumora filed for an IPO with the Securities and Exchange Commission. Last year, it raised $112 million in funding and may be one of the few biotechs to go public in 2023. (STAT News)
Novartis announced that data from a late-phase trial showed that its Leqvio injection is effective at reducing cholesterol levels beyond six years in patients with atherosclerotic cardiovascular disease. The Swiss pharmaceutical company said Monday that with twice-yearly dosing, Leqvio, in addition to statin therapy, provides consistent low-density lipoprotein cholesterol reduction. (MarketWatch)
Pfizer said it expects to restart production at its North Carolina plant by the fourth quarter of 2023 as it seeks to repair damage to one of the largest sterile injectable drug facilities from a tornado. The facility at Rocky Mount was struck by a tornado on July 19, leading to concerns it could worsen shortages of some hospital drugs in the United States. (Reuters)
