Sandoz entered into an agreement with Samsung Bioepis to commercialize in Europe and North America an antibody medication for the treatment of autoimmune disorders. “It will further strengthen our immunology patient offering and means we now have five potential high-value upcoming biosimilar launches over the next few years,” said Sandoz Chief Executive Richard Saynor.(MarketWatch)
Biopharmaceutical firm Neumora Therapeutics, backed by Amgen and Japan’s SoftBank, is aiming to raise up to $264.8 million in its initial public offering, according to a regulatory filing. Neumora, which is developing drugs for brain disease, is offering 14.7 million shares priced between $16 and $18 apiece. (Nasdaq)
British healthcare investment firm Syncona said Novartis has stopped the development of experimental eye treatment, GT005. This would result in a payments write-off of $68.23 million for Gyroscope. (Reuters)
CVS Health and Cigna can charge $6,600 a month or more for Gleevec prescriptions, an analysis of drug pricing data found. They are able to do that because they set the prices with pharmacies, which they sometimes own. (The Wall Street Journal)
A former Pfizer executive said The New York Times got it wrong while discussing the impact of price controls on new drugs. “Levitt’s assertions are absurd. It is clear that he has no clue about the fundamentals about biopharma R&D,” John LaMattina wrote. (Forbes)
