As the industry looks to find more effective ways to manage the rising burden of genetic, autoimmune, rare diseases, and cancers, the next 10 years could be significant for companies with an interest in biologics drug products. The sector – estimated to have been worth $460 bn in 2022 – is expected to grow significantly due to rising demand in emerging markets across Asia and Latin America.

Nanoform and PlusVitech have partnered to repurpose the anti-nausea drug aprepitant, as a treatment for lung cancer using Nanoform’s nanomedicine technology. This collaboration aims to enhance the drug's efficacy through nanoparticle engineering, and reduce pill size and dosage complexity. Initial trials are focusing on patients with non-small cell lung cancer who are unresponsive to standard treatments.

Head of R&D, Dr. Houman Ashrafian, announced a simplified structure aimed at reprioritizing the company’s pipeline and transforming Sanofi into an immunoscience leader by reallocating resources to accelerate high-potential programs.

Amylyx Pharmaceuticals has decided to withdraw its amyotrophic lateral sclerosis (ALS) drug, Relyvrio, from the market after it failed to meet the primary and secondary endpoints in its phase 3 trial.

SCHOTT Pharma is set to open a new $371 mn manufacturing facility in Wilson, North Carolina, to produce prefillable syringes. The facility is aiming to commence operations in 2027, which will create 401 jobs and focuses on meeting U.S. demands for mRNA and GLP-1 therapy syringes to enhance the domestic supply chain.

Terumo Medical Corporation (TMC) is investing $30 mn to expand its manufacturing capabilities in Puerto Rico and meet the increasing global demand for its Angio-Seal vascular closure device.

The COVID-19 pandemic brought its fair share of disruption and uncertainty; propelling biopharma-related topics into the public consciousness.

Taiwan’s largest CDMO, Bora Pharmaceuticals Co., Ltd. has completed the acquisition of Minnesota-based Upsher-Smith Laboratories, LLC., a generics manufacturer and marketer.

French pharmaceutical company, Sanofi, and AI biotech company, Owkin, have further expanded their initial 2021 oncology alliance to include drug positioning within immunology. The partnership will see Owkin's machine learning expertise used to identify optimal disease indications for Sanofi's drugs targeting autoimmune diseases.

Eli Lilly's CEO, David Ricks, has reaffirmed the company's commitment to the Chinese market during a meeting with China's Commerce Minister Wang Wentao - stating Lilly's intention to increase investments and enhance R&D cooperation.

To enhance its biologic manufacturing capabilities, Lonza is acquiring Genentech's Vacaville plant from Roche in a $1.2 billion deal. Once completed, Lonza will enhance capacity at the biologics facility, which is already one of the world’s largest, for clinical- commercial-stage manufacturing.

2023 proved a tough year for biotech and pharmaceutical companies, and it seems that some companies are still having to make big decisions to stay in business.

Eli Lilly and Amazon Pharmacy have announced a partnership set to enhance the delivery of Lilly’s prescription medications via a direct-to-consumer service, LillyDirect.

Kasim Kutay, CEO of Novo Holdings, was recently interviewed by Bloomberg regarding the ongoing acquisition of Catalent, outlining Strategy 2030 and how they plan to reinvest cashflow and remain attractive to investors.

Looking forward in 2024, Fierce Pharma has published a report listing the drug patents that will expire in 2024, including for blockbusters from Bristol Myers Squibb and Biogen, plus medicines with prominent histories from Novo Nordisk, Astellas and Novartis.

In the last couple of weeks, there has been a flurry of news articles surrounding job layoffs at a series of pharma and biotech organizations taking drastic cost cutting measures in response to financial pressures.

KPMG Life Sciences CEO Outlook has highlighted a range of challenges predicted by CEOs in the life sciences sector. Factors such as pricing pressures and patent expirations may affect the sector's growth, with many CEOs expecting subdued growth rates.

Whilst Amsterdam has long been considered the global home of cannabis use, Western countries are slowly changing their stance on its use.

AbbVie has announced Robert Michael, currently president and COO, will succeed Richard Gonzalez as CEO on July 1, moving into the role as executive chairman. The transition occurs as AbbVie faces significant market changes, notably biosimilar competition for its drug Humira.

In 2023, the biotech industry faced significant challenges, with a record number of companies, 18 in total, filing for bankruptcy, surpassing the preceding year’s record of eight.