Pfizer's weight loss pill, Novo Nordisk's setback, and the FTC vs. drug middlemen: Pharma news roundup
Plus, Eli Lilly will buy Morphic for $3.2 billion, and Purdue Pharma's Sackler family could face $1 trillion in damages
Pfizer said on Thursday that it is advancing development of a once-daily weight loss pill, which it believes could be competitive in the GLP-1 space. The U.S. Food and Drug Administration (FDA) did not approve Novo Nordisk’s once-weekly insulin. And the U.S. Federal Trade Commission (FTC) said in a report that pharmacy benefit managers (PBMs) are hiking the price of drugs.
Check out those stories and more pharmaceutical news highlights from this week.
2 / 9
Novo Nordisk announced Wednesday that its application to sell its once-weekly insulin icodec has been rejected by U.S. Food and Drug Administration.
3 / 9
Pfizer announced on Thursday that it is advancing development of a once-daily weight loss pill, which the company believes could be competitive in the weight loss space.
4 / 9
More than 75% of patients taking Ozempic and Wegovy for weight loss stopped their treatments within two years, according to a new analysis.
5 / 9
Eli Lilly’s blockbuster diabetes and weight loss drugs Mounjaro and Zepbound were found to be more effective at helping patients lose weight than its rival Novo Nordisk’s medications, according to a new study published Monday in JAMA Internal Medicine.
6 / 9
Drug middlemen known as pharmacy benefit managers (PBMs) appear to be hiking the price of drugs at the expense of everyday Americans suffering from life-threatening conditions, the Federal Trade Commission said in a report released Tuesday.
7 / 9
Timothy Springer, a professor of biological chemistry and molecular pharmacology at Harvard University, became $200 million richer on Monday after Eli Lilly announced it was acquiring a biotech company he founded. News of the deal added to Springer’s already billion dollar net worth.
8 / 9
With the fate of its OxyContin settlement in the air, Purdue Pharma is back in court as its owners, the Sackler family, face a potential onslaught of lawsuits worth an estimated $1 trillion in damages.
9 / 9
The Indianapolis-based pharma giant announced Monday that it is acquiring Morphic for about $3.2 billion. Morphic, a Massachussetts-based drug maker, is developing oral therapies that target ulcerative colitis and Crohn’s disease, collectively known as inflammatory bowel disease.