This week, both Merck MRK and J&J JNJ announced plans to acquire cancer biotechs making oncology therapies with novel mechanisms of action. AbbVie ABBV announced positive data from a mid-stage study on a skin disease candidate. Pfizer PFE provided some regulatory updates.
Recap of Key Developments
J&J to Acquire Ambrx Biopharma: J&J announced a definite deal to acquire Ambrx Biopharma for approximately $2.0 billion. The acquisition is intended to fortify J&J’s oncology pipeline with the addition of ARX517, a prostate-specific membrane antigen targeting antibody drug conjugate (ADC) that is being developed for metastatic castration-resistant prostate cancer (mCRPC).
Merck to Purchase Harpoon Therapeutics: Merk announced the acquisition of Harpoon Therapeutics for $680 million. This move is set to strengthen Merck’s oncology pipeline with HPN328, a T cell engager being evaluated in certain patients with small cell lung cancer (SCLC) and other neuroendocrine tumor types.
FDA Grants Priority Review Status to Pfizer’s Tivdak sBLA: Pfizer revealed that the FDA has accepted and granted priority review status to a supplemental biologics license application (sBLA) for Tivdak, with the intent of converting the accelerated approval to a full approval.
Pfizer also announced the European Commission’s approval of a combination of its cancer drugs, Talzenna plus Xtandi, for treating mCRPC.
AbbVie’s Hidradenitis Suppurativa Candidate Meets Goal in Phase II: AbbVie announced positive data from a phase II study evaluating its pipeline candidate, lutikizumab (ABT-981) in adults with hidradenitis suppurativa (HS) who had previously failed anti-TNF therapy.
The NYSE ARCA Pharmaceutical Index rose 1.1% in the last five trading sessions.
Performance of Major Stocks
Here’s how the eight major stocks performed in the last five trading sessions.
In the last five trading sessions, Lilly rose the most (3.4%), while Pfizer declined the most (2.4%).
In the past six months, Lilly has risen the most (46.3%), while Pfizer has declined the most (21.2%).
(See the last pharma stock roundup here: LLY’s New Digital Pharmacy, NVO & ABBV’s Fresh R&D Deals)
What’s Next in the Pharma World?
Watch for pipeline and regulatory updates next week.
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Johnson & Johnson (JNJ) : Free Stock Analysis Report
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Merck & Co., Inc. (MRK) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
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