The federal government will buy 1.5 million doses of Novavax’s COVID-19 vaccine, even though it will officially end the public health emergency in May. Novavax cut its 2023 revenue estimate after sales of the vaccine fell overall due to lower demand. (Bloomberg)
Biotech leader and ex-CEO of Roivant Sciences Vivek Ramaswamy has reportedly considered running for president as a Republican. Ramaswamy has recently been making guest appearances on right-wing program “Tucker Carlson Tonight” and meeting with locals in Iowa to test potential pre-campaign messages. (Politico)
G1 Therapeutics said it will halt a drug trial in colon cancer, with its shares plunging on the news. The decision to discontinue the trial is a setback to the company’s plans to expand use of the drug, which is already approved to decrease a side effect of chemotherapy, called myelosuppression, in some lung cancer patients. (Reuters)
Sorrento filed for Chapter 11 after losing arbitration to Patrick Soon-Shiong biotech. The company submitted its Chapter 11 paperwork Monday, per an SEC filing, after losing an arbitration battle to billionaire Patrick Soon-Shiong’s NantCell in December. (Endpoints News)
A satirical opinion piece in The Washington Post discussed the feud between the Food and Drug Administration and U.S. District Court Judge Matthew Kacsmaryk. “…A ruling from a single Trump-appointed judge in Texas might undo the Food and Drug Administration’s approval of one of the two key drugs used in medication-based abortions and render it inaccessible nationwide,” Alexandra Petri wrote. (The Washington Post)
