The week in pharma: action, reaction and insight – week to December 22, 2023

By Barbara Obstoj-Cardwell. Editor

US biotech bluebird bio last week announced plans to sell $150 million of common stock, with the proceeds to be used to support commercialization of its approved gene therapies. Japan’s Otsuka signed a licensing deal with the USA’s Ionis Pharmaceuticals for the latter’s donidalorsen, a potential treatment for hereditary angioedema. Israel-based Compugen rocketed on news of a lucrative licensing deal for its COM503 oncology candidate with Gilead Sciences. Also, Ionis and British pharma major AstraZeneca received US Food and Drug Administration (FDA) for their Wainua (eplontersen) for the treatment of the rare neurologic disease ATTRv-PN. On Friday, US pharma major Bristol Myers Squibb announced what is likely the second largest biopharmaceutical M&A deal this year, planning to acquire Karuna Therapeutics and its schizophrenia candidate KarXT for $14 billion.

Pressure to perform remains despite bluebird bio’s public offering