Pharma Forum: Oct 17, 2024

Today's lunch and learn is filled with mixed news on the job market.

• Sage Therapeutics Announces Major Layoffs: Sage Therapeutics has cut 50% of its R&D team and continues to shake up its leadership amid restructuring efforts. This follows the FDA's partial rejection of its antidepressant zuranolone, marking a difficult year for the company. https://www.fiercebiotech.com/)

  
  

• Novo Nordisk Shares Drop Amid Lower Obesity Drug Sales: Novo Nordisk's stock took a hit after reporting lower-than-expected sales of its blockbuster obesity drugs, Ozempic and Wegovy, falling short of Wall Street expectations by 9%. This caused a significant drop in market value. BioPharma Dive

  
  

• FDA Approves Novocure’s Tumor Treating Fields Therapy for Metastatic NSCLC: The FDA has greenlit Novocure’s novel tumor-treating fields therapy for metastatic non-small cell lung cancer (NSCLC), adding a new non-invasive treatme​t for this difficult-to-treat cancer type. FierceBiotech

  
  

• Sarepta’s Gene Therapy Sales Miss Projections, But Future Looks Bright: Sarepta’s sales of its Duchenne muscular dystrophy gene therapy, Elevidys, were below expectations for the quarter. However, the company anticipates an upside based on "unprecedented" interest in the therapy moving forward. BioPharma Dive

  
  

• Madrigal Pharmaceuticals’ NASH Drug Launch Exceeds Expectations: Madrigal’s launch of Rezdiffra, a treatment for non-alcoholic steatohepatitis (NASH), got off to a strong start in the U.S., with sales reachin​g three times what analysts predicted. The company is also considering a solo European launch. BioPharma Dive