The week in pharma: action, reaction and insight – week to October 6, 2023

By Barbara Obstoj-Cardwell. Editor

M&A activity last week featured US pharma major Eli Lilly last Tuesday announcing it was acquiring radioligand company POINT Biopharma for around $1.4 billion, along with its lead candidate PNT2002. On the regulatory front, Japan’s Takeda last Monday revealed that, following discussions with the US Food and Drug Administration (FDA), it is voluntarily withdrawing its lung cancer drug Exkivity from the market, as the confirmatory trial to convert accelerated approval to regular authorization had failed. Also, last Thursday, an FDA advisory committee came up with a negative vote on US biotech giant Amgen’s Lumakras. Also of note, last Wednesday Ionis Pharmaceuticals held an R&D investor day, when it outlined its pipeline and progress of investigational drugs including Waylivra and olezarsen.

Lilly acquisition of POINT Biopharma recognizes value of PNT2002