BioSpace News Archive

Policy

Amid IRA Legal Battle, House Democrats Push to Expand Its Scope

As biopharma companies look to prove price setting provisions in the Inflation Reduction Act are unconstitutional, lawmakers unveil legislation to further reduce drug costs.

August 8, 2023
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4 min read
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Mollie Barnes
Drug Development

Novo’s Wegovy Protects Heart Health in Overweight, Obese Adults

Data from a Phase III study released Tuesday found that Novo Nordisk’s Wegovy lowered the risk of cardiovascular complications and death by 20% versus placebo in overweight and obese adults.

August 8, 2023
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2 min read
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Tristan Manalac
Biopharma Hires Expect More Than They Did Before the Pandemic

Employers in the industry find they need to offer perks such as higher pay, more impressive job titles and hybrid or remote work to stay competitive.

August 8, 2023
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2 min read
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Shawna Williams
Policy

IRA Creates Unintended Complications for Biologics

The new legislation could increase healthcare spending overall while reducing biopharma’s return on investment on biologic drugs.

August 8, 2023
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4 min read
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Ana Mulero
Policy

FDA’s OTP Super Office on Track to Fill 500 Positions

Last month, the agency hired a new director for the Office of Therapeutic Products, but both leadership and support staff positions remain open.

August 8, 2023
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4 min read
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Christoph Schwaiger
Business

Lilly Beats Q2 Estimates, Increases Revenue Forecast on Strong Mounjaro Demand

Eli Lilly reported second-quarter revenue of over $8.3 billion, a 28% increase versus Q2 2022, beating estimates of $7.58 billion. The company Tuesday raised its full-year guidance by $2.2 billion.

August 8, 2023
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2 min read
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Kate Goodwin
Business

Novavax Posts Surprise Q2 Profit, Hinges Hopes on Updated COVID Shot

The vaccine maker cut 25% of staff amid post-pandemic business challenges in May, but resurgent sales and an updated COVID-19 shot may prove a turning point.

August 8, 2023
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3 min read
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Connor Lynch
Drug Development

VistaGen Stock Soars 1,000% After Phase III Social Anxiety Win

Despite failing a previous late-stage study, VistaGen’s fasedienol finally scored a win by meeting its primary endpoint and strongly easing distress among patients with social anxiety disorder.

August 8, 2023
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2 min read
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Tristan Manalac
Business

FibroGen Looks to Regroup After Rocky Q2 Results, Ongoing Challenges

Following a handful of clinical failures and changes to its leadership, FibroGen is trying to chart a more positive path forward by focusing on four strategic areas.

August 8, 2023
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3 min read
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Tristan Manalac
Business

Relmada Therapeutics Provides Corporate Update and Reports Second Quarter 2023 Financial Results

Relmada Therapeutics, Inc. (Nasdaq: RLMD), a late-stage biotechnology company addressing diseases of the central nervous system (CNS), today provided a corporate update and announced preliminary and unaudited financial results for the second quarter ended June 30, 2023.

August 8, 2023
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11 min read