AstraZeneca's Q2 net profit rose 2% to $2.51 billion, beating analyst expectations, driven by strong cancer medicine sales. Shares rose 1.4% in European trading despite a recent trial failure, with the company reconfirming its $80bn 2030 revenue goal.
Reed Jobs discusses his oncology-focused venture firm Yosemite, which builds biotech companies from academic research using philanthropy and venture capital. He highlights the firm's progress, the impact of AI on drug discovery and clinical trials, and the potential of targeting previously undruggable genes like p53.
A Kerala High Court case seeking access to life-saving breast cancer drug Ribociclib, filed in 2022, has been listed 57 times without a hearing. The petitioner died during the case, which the court continued suo motu due to public interest. A working group has urged the Chief Justice of India to expedite the hearing.
HLB's U.S. subsidiary Eleva Therapeutics received a Complete Response Letter (CRL) from the FDA regarding the approval of its liver cancer drug Rivoceranib. The letter cited issues with the Good Manufacturing Practice (GMP) of its partner, Chinese company Hengrui Medicine's manufacturing facility. This marks the second rejection for the drug.
Poolbeg Pharma will trial its oral drug POLB 001 at six NHS hospitals to prevent cytokine release syndrome (CRS), a dangerous side-effect of cancer immunotherapy. The drug could improve patient safety and save healthcare systems millions by allowing treatment outside specialist centers.
India's National Pharmaceutical Pricing Authority approved a 50% price hike for Carboplatin and Cisplatin cancer injections due to rising raw material costs and supply concerns. Prices for anti-tetanus immunoglobulin and three childhood vaccines were also revised to ensure availability.
India's government is considering a 50% price increase for vital cancer drugs cisplatin and carboplatin due to rising raw material costs and potential shortages. The move aims to ensure availability for thousands of patients.
A new ovarian cancer drug, mirvetuximab soravtansine, is now available on the NHS, offering patients more time and a better quality of life. Known as a 'biological missile' or 'Trojan horse' therapy, it targets cancer cells directly, reducing side-effects compared to conventional chemotherapy.
South Korea's Ministry of Food and Drug Safety has newly designated three essential medicines, including two cancer injection drugs (Dacarbazine and Doxorubicin) and Cisatracurium injection, as national essential medicines. This brings the total number of national essential medicines to 491, aiming to ensure stable supply for patients.
Akeso and Summit Therapeutics' experimental lung cancer drug, ivonescimab, reduced the risk of death by 34% in a late-stage trial when combined with chemotherapy. The drug extended survival by a median of four months for patients with squamous non-small-cell lung cancer in China, a statistically significant result.
UK startup BioOrbit launched its Box-E unit on a SpaceX flight to the ISS on May 15 to grow ultra-pure protein crystals in microgravity. This technology aims to create self-injectable cancer drugs, potentially saving healthcare systems billions and reducing hospital visits.
AstraZeneca's experimental breast cancer drug camizestrant faced a setback as a U.S. FDA advisory panel voted 6-3 against approval, citing concerns over the SERENA-6 trial design. The Phase 3 trial showed a 56% reduction in disease progression or death, but panel members weren't convinced early switching improved long-term survival. Shares fell 2% in morning trading, though analysts noted the drug's efficacy wasn't dismissed and the issue shouldn't impact AstraZeneca's $80 billion 2030 sales goal.
GSK has announced promising early-stage trial results for its cancer treatment Mo-Rez, which showed high efficacy in shrinking tumors for ovarian and endometrial cancer patients. The company plans to move directly to late-stage clinical trials.
