Pfizer kicked off a jumbo bond sale to help fund its $43 billion acquisition of Seagen. The pharma giant is offering notes in eight parts, according to a person familiar with the matter. (Bloomberg)
Metaphore Biotechnologies emerged from stealth mode with an initial $50 million investment from Flagship Pioneering. The biotech startup is seeking to tap into nature’s seemingly endless supply of insights. (The Boston Globe)
The White House has summoned naloxone manufacturers for a roundtable focused on the medication’s price. The move would represent the Biden administration’s most concrete action to date to address the price of naloxone, a medication used to reverse opioid overdoses. (STAT News)
Google Cloud launched A.I.-powered tools to accelerate drug discovery and precision medicine. Pfizer, as well as biotech companies Cerevel Therapeutics and Colossal Biosciences, are already using the solutions. (CNBC)
Abbott’s spinal cord stimulation devices were approved by the Food and Drug Administration to treat back pain in people not eligible for surgery. Abbott’s DISTINCT study was the largest randomized controlled trial for SCS in people with chronic back pain when surgery is not an option. (MarketWatch)
