Despite the much-anticipated entrance of a longer-acting product to compete with AbbVie’s Botox in the cosmetic market, the Illinois-based drugmaker is not seeing any evidence of sales erosion, AbbVie said Wednesday.
The pharma giant also addressed its recent acquisitions of antibody-drug conjugate biotech ImmunoGen and neuroscience specialist Cerevel. With both deals, AbbVie is targeting “long-term growth,” chief operating officer Rob Michael said during the event.
“Even though these two deals will add some level of revenue this decade, it wasn’t really about that. It was more about the next decade,” Michael said. “We have clear line of sight for this decade with our current portfolio. We didn’t need to go outside to supplement that.”
Going forward, the company will target “early-stage opportunities that will be smaller in size," Michael added.
UPDATED: Wednesday, Jan. 10 at 12:10 p.m. ET
Emboldened by the recent approval of Vertex-partnered gene therapy Casgevy, CRISPR Therapeutics CEO Samarth Kulkarni opined over humanity’s ability to edit its own genome and fix its own diseases as “another form of singularity” at this year’s J.P. Morgan Healthcare Conference.
Late last year, Vertex and CRISPR’s medicine racked up approvals in sickle cell disease (SCD) in Europe, the United Kingdom and the U.S. And while there’s already a “robust support system” for Casgevy in the States, the advanced therapeutic has significant potential abroad as well, Kulkarni explained.
“There are a tremendous number of patients that suffer from both severe sickle cell disease and thalassemia in the Middle East, in parts of Europe and in Asia,” he said. Meanwhile, more approvals are already coming in in places like Saudi Arabia and Bahrain, where the “unmet need is very high.”
UPDATED: Wednesday, Jan. 10 at 11:40 a.m. ET
Alexander Hardy, formerly the CEO at Genentech, is five weeks into his new job as CEO at BioMarin and made his priorities clear Tuesday at theJ.P. Morgan Healthcare Conference. Hardy’s primary mission will be to maximize the commercial potential of dwarfism drug Voxzogo, which has the potential to increase its patient pool from 21,000 to 600,000.
Secondly, Hardy is focused on the launch of newly approved hemophilia A gene therapy Roctavian. Thirdly, Hardy will have to make tough decisions as the company looks to cut its R&D spend.Story
UPDATED: Wednesday, Jan. 10 at 9:40 a.m. ET
After the most transformational year Alkermes' history, the company is stripped down and anxious to carry on in its new role as a pure-play neuroscience specialist. In an interview with Fierce Pharma, chief operating officer Blair Jackson described last year as "a year of resetting and clearing the decks and simplifying the story."
Specifically, the company spun off its oncology division and sold a plant in Ireland, among other developments. Now, the company is focused on the launch of Lybalvi and a mid-stage pipeline candidate. Story
https://www.fiercepharma.com/pharma/jpm24-day-3-abbvie-amarin-and-more
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