Novo Nordisk warned the shortage situation of its diabetes drugs Ozempic and Victoza will deteriorate in the fourth quarter of 2023 and persist throughout 2024 due to increased demand. In a note published by the European Medicines Agency, the Danish drugmaker said that to increase the supply of Ozempic, it had decided to temporarily reduce the supply of Victoza. (Reuters)
Flagship Pioneering announced an initial $50 million commitment to its first U.K.-based startup Quotient Therapeutics at its launch from stealth. In a first for Flagship, which usually keeps its companies close to its home base around Boston, Quotient launched with the majority of its employees in Cambridge, U.K. (Endpoints News)
Noted investor Cathie Wood just made a big bet on Recursion Pharmaceuticals, which has analysts wondering if it will pay off. Wood’s strategy is to invest in companies with big ideas that plan to use cutting-edge technology to reshape their markets and industries with new paradigms. (The Motley Fool)
ABVC BioPharma received a U.S. patent for the use of PDC-1421, which is used in the company’s asset ABV-1505, targeting attention deficit/hyperactivity disorder. This patent grants ABVC the right to exclude others from using, offering, or selling PDC-1421 throughout the U.S. until 2040. (MarketWatch)
What Eli Lilly’s Zepbound has revealed about the intricate process of naming drugs today. Exactly why Eli Lilly chose Zepbound remains a mystery, as the company declined to provide details about the naming process. (STAT News)
See yesterday’s edition of Five things for pharma marketers to know.
