Welcome to the latest edition of the Lifesciences Voice Top Five Newsletter, where we bring you a curated selection of the most impactful news in the realm of life sciences. In this edition we take a look at a groundbreaking study at New York University that unveils a revolutionary approach in pain management, Pfizer’s global cost-cutting efforts reverberate in the UK, resulting in 500 job losses at its Kent facility, Teva Pharmaceuticals secures a substantial $100 million funding injection to expedite the development of a promising schizophrenia drug, and other top news!
NYU Study Unveils Breakthrough in Pain Management
A groundbreaking study at New York University reveals a significant advance in pain management. Going beyond traditional pain drugs, the study introduces an innovative approach promising enhanced efficacy. This breakthrough could revolutionize pain treatment, offering new avenues for managing and alleviating pain with potentially fewer side effects and improved patient outcomes.
Pfizer’s Cost-Cutting Impacts UK Site, Resulting in 500 Job Losses
Pfizer recently expanded its global cost-cutting efforts to Ireland, announcing significant job reductions in the United Kingdom. Around 500 positions are set to be eliminated at the Sandwich, Kent facility, with the discontinuation of Pharmaceutical Sciences Small Molecule (PSSM) capabilities. This move is part of Pfizer’s broader cost realignment initiative disclosed in mid-October. While the Sandwich site will not be closed, it will undergo changes in scale, retaining other functions. Currently employing about 940 individuals, Pfizer’s restructuring reflects the pharmaceutical industry’s ongoing adaptation to optimize operations and streamline resources on an international scale.
Teva Secures $100 Million Funding to Expedite Schizophrenia Drug Development
Teva Pharmaceuticals secures a significant $100 million funding injection to expedite the development of a promising schizophrenia drug. This financial support strategically accelerates research and development efforts, potentially bringing innovative treatment options for individuals affected by schizophrenia to market sooner. The funding highlights the industry’s recognition of the pressing need for advancements in mental health therapeutics and commitment to addressing unmet medical needs in this critical area.
Gilead Boosts Arcellx with $285 Million for BCMA Cell Treatment Extension
Gilead Sciences is reinforcing its collaboration with Arcellx through a substantial $285 million investment. The extended partnership focuses on advancing BCMA-targeted cell treatments for multiple myeloma. This financial infusion aims to propel Arcellx’s expertise in cellular immunotherapy, pushing the boundaries of innovation in the quest for advanced therapies for hematologic malignancies.
FDA Casts Doubt on Merck’s Cough Candidate
The FDA raises skepticism regarding Merck’s potential chronic cough treatment, gefapixant, introducing obstacles for the pharmaceutical company’s efforts to launch the medication. The FDA’s reservations, outlined in recently disclosed briefing materials ahead of an advisory committee hearing, primarily revolve around the minimal variation observed across treatment groups. In response to a detailed FDA letter received in early 2022, Merck has submitted updated analyses incorporating modified cough counting methods. The New Jersey-based company is striving to tackle concerns related to efficacy and navigate the approval process delays for gefapixant as a remedy for refractory chronic cough.
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