Medicine To Market News’ Post

Stories making headlines today in the biopharma industry: Biopharma Sector Highlights - October 2023 1. **Top-Paid Biopharma CEOs of 2023**: This year’s highest earners in biopharma include leaders from major firms such as Amgen, Pfizer, and Eli Lilly. CEOs Bob Bradway, Albert Bourla, and David Ricks, among others, commanded more than $20M each, driven by substantial incentive packages. 2. **FTC Scrutiny of PBMs**: A recent 73-page FTC report underscores the substantial market influence of a few dominant pharmacy benefit managers (PBMs). Although no immediate antitrust actions were recommended, the report calls for heightened regulatory scrutiny towards these entities. 3. **Leadership Changes at Pfizer**: Pfizer’s Chief Scientific Officer, Mikael Dolsten, will leave after 15 years with the company. Dolsten’s departure follows Pfizer’s acquisition of Seagen and recent cost-cutting measures spurred by declining COVID-19 product sales. He will remain until a successor is in place, likely by early next year. 4. **Positive Gene Therapy Results from UniQure**: UniQure has shared promising interim data for its Huntington’s disease gene therapy, AMT-130. With an 80% reduction in disease progression among high-dose recipients and significant decreases in neurofilament levels, this breakthrough led to a notable increase in UniQure’s stock value. 5. **Strategic Moves by Kymera and Ligand**: Kymera Therapeutics announced the expansion of Phase 2 studies for its dermatitis treatment, KT-474, boosting their stock by nearly 20%. Concurrently, Ligand Pharmaceuticals has acquired Apeiron Biologics and the royalty rights to the neuroblastoma drug Qarziba in a $100M deal, with potential future royalty-based payments. 6. **Biosecure Act Vote Planned by House Speaker**: House Speaker Mike Johnson has pledged to bring the Biosecure Act to a vote this year. The Act aims to sever financial links between US firms and certain Chinese biotech contractors, including companies like WuXi AppTec and BGI, by 2032. This legislation forms part of broader efforts to address concerns over US-China biotechnology ties. Stay informed for more updates on pivotal changes and developments in the biopharma industry. #pharma #biotech #topstories #biodatastudio

Top Biopharma CEO Salaries, FTC Investigates PBMs, Pfizer CSO Resigns

Top Biopharma CEO Salaries, FTC Investigates PBMs, Pfizer CSO Resigns

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