Pharma and Biotech Daily: JPM25 Recap and Industry Updates

Pharma and BioTech Daily

Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma e Biotech world.Eli Lilly projects a revenue miss for 2024 due to lower-than-anticipated sales of glp-1 blockbusters Mounjaro and Zepbound, causing their shares to drop by as much as 8%. Despite pressure to make a deal, Biogen executives refuse to do so out of desperation. The JPM25 conference featured presentations from Roche, Amgen, Merck, Lilly, and Biogen detailing their growth strategies. Keros fully terminates a mid-stage study on pulmonary arterial hypertension, potentially facing challenges ahead. AGC Biologics offers scale-down data for gene of interest candidates to accelerate timelines. Other news includes questions about accelerated approval for Biogen and Sarepta drugs, lessons learned from Neuropsych's stumbles, and increased drug prices by pharmacy benefit managers. Additionally, Lykos loses board directors after an FDA rejection, while biopharma deals start flowing at JPM25.Biogen executives, despite investor and analyst pressure, are not desperate to make a deal at JPM25. The biopharma industry saw a flood of deals at the event, with companies like Eli Lilly, GSK, and Gilead announcing billion-dollar deals. Seaport is learning from Neuropsych's mistakes amidst renewed interest in the field. The top VC raises in biotech for 2024 were highlighted, showing a significant increase in funding for the industry. J&J made a major neuro play with a $14.6 billion buyout, while Biogen submitted an offer to buy partner Sage. Overall, the industry sentiment has been reinvigorated by the flurry of deals at JPM25.