Pharma Forum: Oct. 15, 2024

1. Lundbeck Acquires Longboard Pharmaceuticals for $2.6 Billion: H. Lundbeck A/S has announced the acquisition of Longboard Pharmaceuticals in a $2.6 billion all-cash deal. This purchase grants Lundbeck access to Longboard’s epilepsy treatments, including its promising 5-HT2C receptor agonist for treating seizure disorders like Dravet syndrome. This move expands Lundbeck’s presence in neurology and rare diseases. BioSpace

   
   

2. Sarepta Sees Potential Despite Lower Sales for Elevidys Gene Therapy: Sarepta Therapeutics experienced a dip in sales for Elevidys, its gene therapy for Duchenne muscular dystrophy. However, the company anticipates a significant rise in demand, driven by the broader rollout of the treatment, forecasting stronger performance. BioPharma Dive

   
   

3. Merck Discontinues Phase 3 TIGIT Cancer Drug Trial: Merck has halted its Phase 3 clinical trial for its TIGIT cancer drug after it failed to show efficacy. This marks a setback in Merck’s cancer treatment pipeline, though the company continues to invest in other immune-oncology targets. BioPharma Dive

   
   

4. Novo Nordisk Shares Drop Amid Lower-than-Expected Sales for Obesity Drugs: Despite the booming demand for obesity treatments, Novo Nordisk’s shares took a hit after sales of its blockbuster drugs Ozempic and Wegovy came in lower than anticipated, missing Wall Street’s expectations. BioPharma Dive

   
   

5. AI Drug Discovery Firms Recursion and Exscientia Merge in a ‘Techbio’ Deal: Recursion Pharmaceuticals is acquiring Exscientia in a merger designed to leverage both companies’ strengths in AI-driven drug discovery. This move signals a growing trend toward merging tech for faster drug development, despite both companies having faced value losses since going public. BioPharma Dive