The week in pharma: action, reaction and insight – week to March 17, 2023

By Barbara Obstoj-Cardwell. Editor

Biopharma M&A news last week included the largest deal in around four years, with US pharma giant Pfizer last Monday confirming it is to acquire biotech firm Seagen, but with the price of $43 billion much higher than the $30 billion rumored prior to the formal announcement. Also, French pharma major Sanofi announced a $2.9 billion takeover bid for USA-based Provention Bio, along with its diabetes drug Tzield. Last week also saw the US Centers for Medicare and Medicaid Services (CMS) announce more details of its plan for savings on Medicare Part B drugs. Additionally, the US Food and Drug Administration made a surprise U-turn, calling for an advisory committee meeting ahead of its anticipated regulatory decision for Sarepta Therapeutics' Duchenne muscular dystrophy (DMD) candidate SRP-9001.

Pfizer buy of Seagen bolsters long-term outlook but pricey