Want to stay on top of the science and politics driving biotech today? Sign up to get our biotech newsletter in your inbox.Good morning, pharma companies are still struggling to decide how to respond to Trump’s drug pricing policy. We discuss today.
The need-to-know this morning
Argenx and Cabaletta Bio, separately, reported new data on potential treatments for myositis, an autoimmune disease that causes muscle weakness. The data are being presented at a European rheumatology conference.
RayzeBio, the radiopharmaceutical unit of Bristol Myers Squibb, licensed an experimental drug and diagnostic agent for prostate cancer from Swiss-based Philochem AG. Under terms of the agreement, Philochem received a $350 million upfront payment and is eligible for another $1 billion in contingency payments.
Drugmakers try to strategize with little info on MFN
In the coming days, the Trump administration is expected to release more details on its “most-favored nation” plan aimed at lowering drug prices, and pharma companies have been trying to game out possible scenarios and strategize how they may respond, my colleague Daniel Payne reports.
A Washington representative for one pharmaceutical company, granted anonymity to discuss internal thinking, said the firm expects more details this week, likely on Wednesday. The difficulty is that so far, the current information being shared “is a bit of a black hole,” the person said.
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