The week in pharma: action, reaction and insight – week to March 31, 2023

Licensing deals featured in last week’s news, first with US pharma giant Pfizer handing back rights to immune-oncology drug Bavencio to Germany’s Merck KGaA in anticipation of potential antitrust problems relating to its proposed $43 billion acquisition of Seagen. Also, last Tuesday, Bicycle Therapeutics announced a collaboration with Swiss pharma giant Novartis on the development of oncology targets that could earn it up to $1.7 billion. On the research front, Novartis last Monday released strong new data for its Kisqali in early breast cancer. Also, Cytokinetics halted a Phase III study of its amyotrophic lateral sclerosis (ALS) candidate reldesemtiv on the advice of a monitoring committee due to futility.

With its eyes on a bigger prize, Pfizer cuts Bavencio loose

Commenting on German Merck’s regaining rights to a cancer asset, Amy Brown writing on Evaluate Vantage noted that Bavencio was considered a likely target for anti-trust watchdogs reviewing Pfizer’s proposed takeover of Seagen, which helps explains the big pharma’s decision to get in front of the problem. Pfizer will exit its global partnership with Merck KGaA over the PD-L1 monoclonal antibody (Mab) on June 30, handing over all future clinical work and commercialisation, and swapping a 50% profit share for a 15% royalty.