Jun 12, 2026
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6 min read
A Pharma Letter analysis shows the outsourced manufacturing surge is concentrating among fewer players. Merck bought a WuXi facility in Ireland. Pharma trade bodies pressed the G7 on innovation. Twelve biotechs have IPO'd this year at a median of $300M. BIO International is in two weeks.
Jun 11, 2026
5 min read
Multiple Phase 3 trials showed Foundayo reduced blood sugar more than Novo's semaglutide in type 2 diabetes. Lilly is taking the pill to the FDA. BioSpace says Lilly's $25B+ M&A captures half of pharma's deal capacity. Sanofi stopped a Phase 3. And Hikma is investing $267M in Ohio.
Jun 10, 2026
Two lung cancer drugs already under FDA review. A 40% premium. The first major deal under new CEO Luke Miels. GSK just went all in on oncology. Incyte added $1.25B. Celcuity doubled PFS but still dropped 25%. ADA is this weekend.
Jun 9, 2026
The ADC safety signal comes as the modality hits its fastest growth period ever. CytomX expanded its Regeneron deal to $4B. The FDA is under fire for not disclosing three CNPV recipients. And Lilly says the one-size-fits-all GLP-1 era is ending.
The biotech IPO wave keeps rolling. Roche's chairman called U.S. tariffs "blackmail." Alnylam signed an AI deal to accelerate RNAi discovery. Chinese biotechs are no longer selling cheap. ADA and BIO International are this month.
CNBC: "Buying stuff like it's going out of fashion." The Supreme Court sided with Hikma on Vascepa patents. Lilly's Medicare deal restores Foundayo and Zepbound coverage. And Gilead cut 87% of Arcellx's workforce post-acquisition.
Ascidian brings RNA exon editing for kidney disease in a $1.9B collaboration. BMS taps Anthropic for AI drug development. Moderna links up on Ebola vaccines. Lilly and Boehringer pulled $1B+ each from Germany. Jefferies conference opens today.
Pfizer locked in $10.5B with Innovent for 12 cancer programs. Lilly added $3B+ with Haisco for five programs. That's Lilly's 11th deal this year. Combined with BMS/Hengrui, three mega China licensing deals landed in a single month.
Bladder cancer got a 55.8% complete response rate with an ADC combo. Lilly's Kelonia justified its $3.2B price tag. Apogee locked in $1.3B from Blackstone. Hengrui presented 90+ studies. And the obesity conference is next.
Revolution doubled survival in pancreatic cancer and published in the NEJM. A Chinese bispecific beat PD-1 on overall survival in lung cancer. J&J shifted a 125-year prostate cancer paradigm. The FDA granted expanded access to daraxonrasib. Here's all of it.
40,000 attendees. 7,000 abstracts. Revolution's plenary is tomorrow morning. Lantheus got a $7B take-private offer from Curium. AbbVie landed a rare blood cancer approval. BridgeBio got Priority Review for a muscular dystrophy drug.
ASCO abstracts are out. sac-TMT plus Keytruda versus Keytruda alone in first-line lung cancer: 65% lower risk of progression or death. ASCO opens tomorrow. Revolution's plenary is Saturday. The abstracts signal the most data-rich oncology meeting in years.
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