The global stem cell therapy market is projected to reach a size of USD 31.41 billion by 2030, growing at a CAGR of 13.73% during the forecast period from 2023 to 2030. The market was valued at USD 11.22 billion in 2022 and is expected to expand to USD 24.29 billion by 2028 due to factors such as accelerated funding for stem cell therapies, rising interest from investors, increased awareness of ..
The Biden administration is set to impose inflation penalties on 43 Medicare Part B drugs in Q3 of 2023, following the imposition of fines on 27 drugs in March. The Inflation Reduction Act stipulates that pharmaceutical manufacturers must provide justifications for any price increases exceeding the inflation rate, with financial penalties imposed if deemed insufficient. The latest actions are ex..
Pharmaceutical companies AstraZeneca and Sanofi have received unanimous approval from the FDA's Antimicrobial Drugs Advisory Committee for their respiratory syncytial virus (RSV) antibody, nirsevimab, to be used in pediatric settings. The committee voted 21-0 in favor of approving the immunizing antibody for use in infants during their first RSV season, while also recommending its approval for h..
The gene editing race between Editas and Vertex, CRISPR heats up as both companies release positive data on their respective gene therapies for sickle cell disease and transfusion-dependent beta thalassemia. Editas unveiled early data from its RUBY and EdiTHAL trials, demonstrating the potential of its gene editor EDIT-301 in treating these diseases. However, Vertex Pharmaceuticals and CRISPR Th..
The FDA's Peripheral and Central Nervous System Drugs Advisory Committee has unanimously voted in support of Eisai and Biogen's Leqembi (lecanemab) for the treatment of Alzheimer's disease, indicating that full approval is likely to be granted on or before July 6. The decision was based on clinical trial results showing consistently favorable outcomes for primary and secondary endpoints, includi..
AstraZeneca has teamed up with Quell Therapeutics to develop therapies for Type 1 diabetes and inflammatory bowel disorder, potentially putting over $2 billion on the line. AstraZeneca provided $85 million to get started, while the rest of the opportunity comes in the form of development and commercialization milestones and potential royalties down the line. Quell will be responsible for develop..
China has approved the world's first vaccine against XBB descendent lineages of SARS-CoV-2 for emergency use. The Coviccine® Trivalent XBB.1.5-Recombinant COVID-19 Trivalent (XBB.1.5+BA.5+Delta) Protein Vaccine, developed by WestVac Biopharma/West China Medical Center, Sichuan University, is a broad-spectrum COVID-19 vaccine against multiple prevalent subvariants locally and internationally, inc..
Elevation Oncology, a company focused on developing selective cancer therapies for solid tumors with significant unmet medical needs, has announced the pricing of an underwritten public offering of common stock and pre-funded warrants to purchase shares of common stock. The combined offering price is $2.2500 per share of common stock and accompanying warrant and $2.2499 per pre-funded warrant an..
TPG Ventures and AmerisourceBergen Corporation have completed their acquisition of OneOncology, a network of leading oncology practices. TPG has acquired a majority interest in OneOncology with AmerisourceBergen acquiring a minority interest. The partnership will provide additional resources to OneOncology, which will allow the company to grow its platform and invest behind clinical, operational..
