The week in pharma: action, reaction and insight – week to November 24, 2023

By Barbara Obstoj-Cardwell. Editor

After lengthy and tense negotiations, last week saw the UK government and trade group the Association of the British Pharmaceutical Industry (ABPI) and its members reach agreement on a new pricing framework for medicines. Across the Atlantic, the US Food and Drug Administration (FDA) said it would be holding an advisory committee meeting to review the supplemental Biological License Application (sBLA) for Bristol Myers Squibb and 2seventy bio’s multiple myeloma candidate Abecma, so delaying the final decision date. US Pharma giant Merck & Co agreed to acquire Caraway Therapeutics for up to $610 million, aiming to expand its neurodegenerative disease portfolio. Also of note, Germany’s Bayer saw its biggest share drop in a decade, after it said it is discontinuing development of blood thinning drug candidate asundexian, adding to other woes.

New clawback deal confirmed by UK government and ABPI