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News of Note - March 9-14, 2023


Tuesday, March 14, 2023

As of -> 22:45 EET

Programming update: should be quiet from my end for a spell.. back soon!


This banking kerfuffle has me perhaps 5% worried, outliers always show themselves at some point..

The more I stew on this Pfizer plus Seagen deal, I’m more than okay with it, I rather like it.. Ample firepower remains, the deal will take awhile to close and be on the verge of being accretive the further out it goes.. Most importantly, it papers over some near term issues (palbo, tofa, enza); and at what cost, they’re ridiculously under-levered and this doesn’t even change that much when you factor in more than cash and debt – i.e. Haleon and ViiV..

Good stuff though it likely means that biotech needs to lean on others to get some deal BD/M&A done – and Novartis while a prime suspect seems to very much be in divestment mode; I’m thinking post Sandoz spin we see some action..

Similar thinking for J&J, Sanofi is a wildcard and GSK needs to do something.. yada yada yada – I think biotech will do fine, though P-fizz could run into some election grandstanding (which could nuke the sector at least temporarily)..


Br. -john


SGEN – Seagen cc: PFE – Pfizer

Seagen to Present New Clinical and Preclinical Data From Broad Portfolio of Targeted Cancer Therapeutics at the 2023 AACR Annual Meeting

LLY – Eli Lilly

Announces Details of Presentations at 2023 American Association for Cancer Research (AACR) Annual Meeting

BX – Blackstone

Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction

CP | CP CN – Canadian Pacific

Announces ratification of new collective agreement with Soo Line BLET

ILMN – Illumina

Launches its first product enabling long- and short-read sequencing on one instrument

Responds to Icahn Partners' Nomination of Directors

NET – Cloudflare

Integrates with Atlassian, Microsoft, and Sumo Logic to Make Zero Trust Security Easy for Businesses


Positive phase III results for MenABCWY vaccine

Nucala NDA accepted for review in China

4503 JT – Astellas

Results from Pivotal Phase 3 SKYLIGHT 1™ Study of Fezolinetant for Vasomotor Symptoms Due to Menopause Published in The Lancet

Announces Phase 3 China ARCHES Study of XTANDI® Meets Primary Endpoint

Astellas and BMT CTN Announce Topline Results from Phase 3 MORPHO Trial of Gilteritinib

BALL – Ball

Ball Aerospace Prototype Payload to Provide On-Orbit Data Processing

ABBV – AbbVie

Showcases Strength of Dermatology Portfolio with New Data Presented at the 2023 AAD Annual Meeting

PFE + SGEN – Pfizer + Seagen

Invests $43 Billion to Battle Cancer Presentation



ZAVZPRET™ (zavegepant) Migraine Nasal Spray Receives FDA Approval

SAN FP | SNY - Sanofi

To acquire Provention Bio, adding to portfolio TZIELD, the first disease-modifying treatment for the delay of Stage 3 type 1 diabetes (T1D)

MRK – Merck

KEYTRUDA® (pembrolizumab) Plus Chemotherapy Significantly Improved Overall Survival Versus Chemotherapy Alone as First-Line Treatment for Advanced Malignant Pleural Mesothelioma

RO SW | ROG SW | RHHBY – Roche

FDA Advisory Committee votes in favour of the clinical benefit of Roche’s Polivy combination for people with previously untreated diffuse large B-cell lymphoma

4503 JT & SGEN - Astellas and Seagen

Announce China's National Medical Products Administration Accepts Biologics License Application for Enfortumab Vedotin in Certain Patients with Locally Advanced or Metastatic Urothelial Cancer


2023 Investor Conference Highlights Improved Business Mix and Platform for Predictable Growth


Results as of December 31, 2022

NESN SW - Nestlé

Latest plant-based beverage combines oats and fava beans

NOVN SW | NVS - Novartis

Sandoz signs Memorandum of Understanding to build new biologics production plant in Slovenia, to support increasing global demand for biosimilar medicines

AZN SS | AZN LN | AZN – AstraZeneca

Tagrisso demonstrated strong overall survival benefit in the ADAURA Phase III trial

Imfinzi improved EFS in resectable lung cancer


Cancer Research UK Collaboration


Q1’23 Mid-Quarter Update

LLY – Eli Lilly

Provides Update on A4 Study of Solanezumab for Preclinical Alzheimer's Disease

US FDA accepts supplemental New Drug Application for Jardiance® for children 10 years and older with type 2 diabetes

STLAM IM | STLAP FP | STLA - Stellantis

Stellantis and the South African Authorities Sign Framework Agreement to Manufacture Vehicles in South Africa


Full-Year 2022 Results



Announces Presentations at AACR Annual Meeting 2023 for Potential First-in-Class Synthetic Lethality Programs IDE397 (MAT2A), IDE161 (PARG) and Werner Helicase

ROIV - Roivant

To Host Investor Call at 8:00 AM ET on Wednesday, March 15 to Review Results from ADORING 2 Phase 3 Trial in Atopic Dermatitis

MOR GY | MOR – MorphoSys

Lucinda Crabtree to Join MorphoSys as Chief Financial Officer

PACB – PacBio

Announces a New Informatics Analysis Method for Highly Homologous Genes

MIRM - Mirum Pharma

Announces Label Expansion for LIVMARLI in the United States to Include Infants Three Months of Age and Older

Mirum Pharmaceuticals Reports Fourth Quarter and Year-End 2022 Financial Results and Provides Business Update

COGT - Cogent Biosciences

Reports Recent Business Highlights and Fourth Quarter and Full Year 2022 Financial Results

RAPT - RAPT Therapeutics

Reports Fourth Quarter And Year End Financial Results

BMRN – BioMarin

To Share Updated Data at 2023 American College of Medical Genetics and Genomics (ACMG) Meeting Demonstrating Commitment to Understanding Long-Term Benefit of VOXZOGO® in Children with Achondroplasia

EWTX - Edgewise Therapeutics

To Present on EDG-5506 for Becker and Duchenne Muscular Dystrophy (BMD, DMD) at the 2023 Annual MDA Clinical and Scientific Conference

BHVN – Biohaven

Announces Presentation at the American Society for Experimental Neurotherapeutics (ASENT) Annual Meeting

BNTX – BioNTech

Update on First BioNTainer for African-based mRNA Manufacturing Facility

SPRO - Spero Therapeutics

Reschedules Fourth Quarter and Full Year 2022 Earnings Release and Conference Call to March 30, 2023

CBOU - Caribou Biosciences

Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Business Update

MOLN SW - Molecular Partners

Reports Corporate Highlights From Q4 2022 and Key Financials for Full Year 2022

VRTX – Vertex

Announces FDA Clearance of Investigational New Drug Application for VX-264, a Novel Encapsulated Cell Therapy for the Treatment of Type 1 Diabetes

BGBIO NO – BerGenBio

Announces First Patient Dosed in Phase 1b/2a Trial Evaluating Bemcentinib in 1st Line Non-Small Cell Lung Cancer with STK11 Mutations

MASI – Masimo

New Study Finds That Masimo PVi® Reliably Predicted Fluid Responsiveness in Young Children Undergoing Neurosurgery

SWTX - SpringWorks Therapeutics

Announces New England Journal of Medicine Publication of Phase 3 DeFi Trial Evaluating Nirogacestat in Adults with Desmoid Tumors

HEALTH FH – Nightingale Health

Strategic collaboration in Estonia progresses: Nightingale Health completes the analysis of 200,000 Estonian Biobank samples


TYRES FH – Nokian Tyres

The Russian Governmental Commission has approved PJSC Tatneft’s purchase of Nokian Tyres plc’s operations in Russia


To acquire the solar power system wholesaler Zenitec Sweden

Kesko’s sales grew in February

EQNR NO | EQNR – Equinor

Second discovery of the year near the Troll field in the North Sea

PIHLIS FH – Pihlajalinna

Considers issuance of minimum EUR 20 million hybrid capital securities

Pihlajalinna's CEO to change

Change negotiations conclude - measures to strengthen profitable growth continue

Changes in Pihlajalinna's Management Team

BAKKA NO – Bakkafrost

CORRECTION: UPDATE on Revenue tax on salmon farming in the Faroe Islands

FORTUM FH – Fortum

S&P Global Ratings affirms Fortum's long-term rating of BBB, revises outlook to stable

VOLVB SS – Volvo Group

Accelerates sustainable mobility with innovation hubs on three continents


Has completed its change negotiations

ELISA FH – Elisa

Elisa’s Medium-term Targets and Distribution Policy

VAIAS FH – Vaisala

Brings portable measurements to its Indigo product family



Joint Statement by Treasury, Federal Reserve, and FDIC

Understanding going under

By unlocking the secrets of anesthesia, Professor Emery Brown could help shed light on brain diseases, hibernation, and possibly even human consciousness.

Room-Temperature Superconductor Discovery Meets With Resistance

NVR Inc. (NVR)

Nirogacestat, a γ-Secretase Inhibitor for Desmoid Tumors

Association of Rurality With Risk of Heart Failure


Honeywell’s New CEO Needs to Pick a Lane

The company should decide what kind of business it wants to be under new leader Vimal Kapur.

Boutique Bank Known to Few Outside Health-Care Helped Steer Seagen’s Sale to Pfizer

HSBC’s £2 Billion Boost for SVB’s UK Unit Caps Frantic Weekend

Lender bought SVB’s UK arm on Monday after weekend of talks

Executives reassure tech investors over post-acquisition plans

Signature Seized by Regulators as Pain Spreads From SVB’s Fall

An auction for the bank could begin as soon as Monday

All Signature depositors ‘will be made whole,’ regulators say

Bonds Rise, Stocks Steady; Fed Path Eyed: Markets Wrap

Banks crater while Treasuries, gold advance and oil dips

US dollar wipes out year’s gains as end to Fed hikes eyed

SAP Plans to Sell Qualtrics Stake, Cut 3,000 Jobs

Company forecast adjusted operating profit ahead of estimates

The restructuring will impact about 2.5% of SAP’s employees

PSA’s CK Hutchison Ports $4 Billion Stake Sale Attracts China Giants, Sources Say

Sale process for PSA’s 20% stake in Hutch Ports has launched

Stake sale could also draw other companies in the industry

‘Great Resignation’ Wasn’t That Great, Historically Speaking

A data series discontinued in 1981 shows that manufacturing workers, at least, quit at much higher rates in the 1970s, 1960s, 1940s and 1920s.

Apple’s New Challenge: A Wave of Key Executives Leaving the Company

Manufacturing Giant Offers a Digital Helping Hand

Schneider Electric is turning its software expertise into a consulting business for other industrial companies.


Morphic looks to justify “oral Entyvio” excitement

Pfizer rescues biotech

Silicon Valley Bank: biopharma’s latest crisis

Sanofi’s Provention buy could get other partners’ hopes up

Polivy adcom: no overall survival, no problem

Roche is losing its perioperative lung cancer lead


Prostate cancer treatment can wait for most men, study finds

Denied by AI: How Medicare Advantage plans use algorithms to cut off care for seniors in need

Biogen’s Samantha Budd Haeberlein, an architect of Aduhelm, leaves company

FDA approves first treatment for Rett syndrome, a genetic neurological disease

Several years later, AstraZeneca says its drug extends life for some early-stage lung cancers

Medicare will take R&D costs, effectiveness into account when it negotiates drug prices. But studies show that doesn’t affect prices

End Points

Novartis looks to offload even more of its eye products — report

Further shuffling at Leo Pharma as dermatology drugmaker splits R&D

Novo Nordisk to cut insulin prices by up to 75% in 2024

Bristol Myers passes on two Exscientia oncology candidates, but biotech to move them into clinic next year

Eli Lilly, UCB and others Switch into gear with $52M for new RNA biotech

FDA pauses Mersana’s clinical trial after patient dies

Vertex heads to the clinic with a next-gen stem cell candidate for type 1 diabetes

Ten years later, Lilly's long-term Alzheimer's trial of solanezumab has definitively failed


How cell-free processes could speed up vaccine development

Rather than relying on yeast and bacteria, bioengineers are looking for cheaper and easier ways to make proteins and other biomolecules.

A medley of resistance in ovarian cancers

Identifying individuals at extreme risk of venous thromboembolism using polygenic risk scores

Gigantic map of fly brain is a first for a complex animal

Fruit fly ‘connectome’ will help researchers to study how the brain works, and could further understanding of neurological diseases.

Shoot the messenger: RNA editing is here


Large US banks inundated with new depositors as smaller lenders face turmoil

Failure of Silicon Valley Bank prompts flight to likes of JPMorgan and Citi