Life Science Updates

AstraZeneca unveils successes in treatment of lung cancer

AstraZeneca reported promising results in the treatment of early-stage lung cancer, revealing that its best-selling drug, Tagrisso, demonstrated a statistically significant improvement in slowing disease progression. The trial, focused on patients with non-small cell lung cancer and a specific genetic mutation, indicated a favourable trend in overall survival rates. AstraZeneca's shares rose by 3%, reaching ￡104 on Monday afternoon following the announcement. Tagrisso, generating $5.8 billion in sales in 2023, has been approved for use alongside chemotherapy in the US and is part of the company's ambitious plan to make half of all lung cancer patients eligible for AstraZeneca treatments by 2030. Analysts view innovative drugs like Dato-DXd and Enhertu as potentially high earners for the company.

Regional investment in Ireland hits all-time job creation high

In 2023, Ireland secured an impressive 248 investments, exceeding €1 billion and involving industry giants such as Analog Devices, AMD, Dexcom, and MSD. This substantial influx is poised to create numerous jobs, particularly in the biopharmaceutical and technology sectors, contributing significantly to regional development. Becton Dickinson's €30 million investment in Enniscorthy, with a focus on sustainability and alignment with 2030 environmental goals, highlights Ireland's commitment to a greener future. The ensuing positive economic and social impacts solidify Ireland's reputation as a top FDI destination. Looking ahead to 2024, IDA Ireland's emphasis on innovation, talent development, digitalisation, and sustainability positions the country for continued growth and exciting opportunities in the pharmaceutical sector.

Gilead acquires CymaBay Therapeutics for $4.3 billion

Gilead has announced its acquisition of CymaBay Therapeutics for $4.3 billion, encompassing the small-molecule candidate seladelpar designed to treat primary biliary cholangitis. The chronic condition involves inflammation and destruction of the bile ducts in the liver. Seladelpar targets PPARδ, a transcription factor present in liver cells, reducing inflammation and minimising toxic effects on the liver. CymaBay's press release mentioned the US FDA's acceptance of the new drug application for seladelpar on the same day as the deal announcement.

Novo Holdings to buy contract manufacturer Catalent for $16.5 billion

Novo Holdings, the parent company of Novo Nordisk and Novozymes, is set to acquire Catalent, a contract drug manufacturing organization (CDMO), for $16.5 billion. As part of the deal, Novo Holdings will transfer three Catalent manufacturing sites to Novo Nordisk for $11 billion, supporting the increased demand for injectable semaglutide-based diabetes and obesity drugs. Novo Nordisk has struggled to meet the rising demand for its semaglutide drugs, and the acquisition aims to enhance its manufacturing capacity. The move has raised concerns from Eli Lilly, which has existing contracts with the three manufacturing sites, highlighting potential challenges for competitors and supply chain considerations.