Deals and stormy sentiments at biopharma’s annual kickoff, plus hot takes from CERSI, neuroscience meetings
By Jeff Cranmer, Executive Editor
January 10, 2023 12:07 AM UTC
A trio of billion dollar deals for late-stage and commercial assets featuring contingent value rights were among the highlights of the first day of the J.P. Morgan Healthcare Conference in San Francisco on Monday.
Although there was a noticeable lack of any large deals, BioCentury Director of Biopharma Intelligence Paul Bonanos said the high premium takeouts of hypertension play CinCor Pharma Inc. (NASDAQ:CINC) by AstraZeneca plc (LSE:AZN; NASDAQ:AZN) and liver disease company Albireo Pharma Inc. (NASDAQ:ALBO) by Ipsen Group (Euronext:IPN; Pink:IPSEY) further the trend of biopharma M&A around late-stage and commercial assets that may prosper in larger companies’ hands. Bonanos and colleagues also discussed Chiesi Farmaceutici S.p.A.’s acquisition of Amryt Pharma plc (NASDAQ:AMYT), making the Italian pharma the latest home for therapies Amryt obtained in its 2019 merger with Aegerion Pharmaceuticals Inc.
Editor in Chief Simone Fishburn delivered her hot takes from the conference, including takeaways from the UCSF-Stanford Center of Excellence in Regulatory Science and Innovation (CERSI) meeting, and Executive Editor Selina Koch offered highlights from the Sach Associates’ Neuroscience Innovation Forum and insights into recent developments in Alzheimer’s disease, including Friday’s FDA approval of Leqembi lecanemab-irmb from Eisai Co. Ltd. (Tokyo:4523) and Biogen Inc. (NASDAQ:BIIB).
Following Congress’ recommendations to FDA and companies following the Aduhelm aducanumab-avwa debacle, Washington Editor Steve Usdin called for the agency to implement clear policies for endpoints and facilitating drug development while staying independent as it makes its regulatory decisions.
