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Thursday, October 27, 2022

Pfizer Says Its Minority Fellowship Program Serves Public Interest, In Defending Lawsuit

 

  • Pfizer Inc  came forward to defend a lawsuit by a group of medical professionals claiming that the fellowship program illegally excludes whites and Asian Americans.
  • In a filing, Pfizer urged a Manhattan federal judge to reject Do No Harm's request for an injunction against filling the 2023 class for its two-year Breakthrough Fellowship Program, which enrolls Blacks, Latinos, and Native Americans.
  • It aims to enroll 100 fellows by 2025 as part of a nine-year commitment to boost minority representation, Reuters reported.
  • "There exists a strong public policy in favor of voluntary affirmative action plans," Pfizer said. "At a minimum, the public interest favors preserving the status quo."
  • Last month, Do No Harm said Pfizer's program was "discriminatory on its face," violating a federal ban on racial discrimination by companies that accept government healthcare reimbursements.
  • Next week, the Supreme Court will consider the future of affirmative action in higher education as it hears arguments on race-conscious admissions programs at Harvard University and the University of North Carolina.

ATI Physical Therapy cut to Hold from Buy by Jefferies

 Target to $1.15 from $2

https://finviz.com/quote.ashx?t=ATIP&ty=c&ta=1&p=d

Ideaya started at Buy by Citi

 Target $26

https://finviz.com/quote.ashx?t=IDYA&p=d

AstraZeneca ULTOMIRIS: zero relapses in neuromyelitis optica spectrum disorder

Results from CHAMPION-NMOSD trial demonstrated ULTOMIRIS reduced the risk of relapse in AQP4 Ab+ NMOSD by 98.6% compared to placebo


ULTOMIRIS also showed a lower proportion of patients experiencing clinically important worsening in Hauser Ambulatory Index score, a measure of patient mobility

Strong results across several subgroup analyses add to growing body of evidence supporting C5 inhibition in NMOSD

https://finance.yahoo.com/news/ultomiris-ravulizumab-cwvz-showed-zero-110000969.html

Amarin continues suspending guidance

 -- U.S. Business Trends Stabilize and Progress on Operational Initiatives Result in Extended Cash Runway --

-- Commenced Launch of VAZKEPA® (icosapent ethyl) in England & Wales Mid-October As Planned –

-- Obtained Positive Scientific Assessment for Reimbursement in Italy and the Netherlands & Achieved Positive National Reimbursement in Finland --

--Ongoing Market Access Negotiations for VAZKEPA Underway Across Multiple Major European Markets Including Final Price Negotiations in Spain --

-- Company to Host Conference Call Today at 8:00 a.m. EDT --

2022 Financial Outlook

Given the uncertainty resulting from the impact of generic IPE in the U.S. and challenges for most drugs seeking market access in Europe, Amarin will continue to suspend 2022 revenue guidance.

The stabilization of the U.S. business revenues and recent cash preservation initiatives have resulted in extended cash runway for the Company. Amarin believes the current cash and investments and other assets are adequate to support continued operations, including European launch activities.

Conference Call and Webcast Information:

Amarin will host a conference call on October 27, 2022, at 8:00 a.m. ET to discuss this information. The conference call can be accessed on the investor relations section of the company's website at www.amarincorp.com, or via telephone by dialing 888-506-0062 within the United States, 973-528-0011 from outside the United States, and referencing conference ID 367970. A replay of the call will be made available for a period of two weeks following the conference call. To listen to a replay of the call, dial 877-481-4010 from within the United States and 919-882-2331 from outside of the United States, and reference conference ID 46629. A replay of the call will also be available through the company's website shortly after the call.

https://finance.yahoo.com/news/amarin-reports-third-quarter-2022-110000857.html

Puma updates on Phase 2 lung cancer trial

 Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company, presented updated findings from the Phase II SUMMIT basket trial of neratinib for EGFR exon 18-mutant non-small cell lung cancer (NSCLC) patients at the EORTC/NCI/AACR Molecular Targets and Cancer Therapeutics Symposium that is taking place in Barcelona, Spain. The poster, entitled, "Neratinib efficacy in patients with EGFR exon 18-mutant non-small cell lung cancer: findings from the SUMMIT basket trial," was presented by Alejandro Martínez Bueno, Head of Medical Oncology Service, Hospital Quirón Deuxes, Barcelona, Spain, on October 27 beginning at 10:00 a.m. CEST.

The Phase II SUMMIT ‘basket’ trial is an open-label, multicenter, multi-national study evaluating the safety and efficacy of neratinib administered daily to patients who have solid tumors with activating, EGFR exon 18 or HER2 mutations. In the EGFR exon 18-mutant cohort, patients with lung cancer with single or complex EGFR exon 18 mutations, who were EGFR tyrosine kinase inhibitor (TKI) naïve or were previously exposed to EGFR TKI, were enrolled into this study and received 240 mg of neratinib monotherapy once daily. Anti-diarrheal prophylaxis with loperamide was required for the first 2 cycles.

This cohort of 29 patients had received 1-6 prior lines of therapy in the metastatic setting before entering the trial. Twenty-three patients (79%) had been previously treated with an EGFR-targeted TKI (e.g., afatinib, osimertinib).

The interim efficacy results showed that the objective response rate (ORR) was 35% overall, 30% in patients pretreated with TKIs, and 50% in patients not pretreated with TKIs. Response or stable disease lasting for ≥ 48 weeks was observed in 7 patients (6 PR, 1 SD). Final data will be presented at a later date.

The safety profile observed in the cohort of patients with EGFR exon 18-mutant NSCLC showed that for the 31 patients who received at least one dose of neratinib, diarrhea, constipation, and nausea were the most commonly reported adverse events. There were no reports of grade 4 diarrhea, 3 patients (10%) reported grade 3 diarrhea, and 1 patient (3%) permanently discontinued neratinib due to diarrhea.


Merck lifts full-year forecast as Keytruda sales soar

 Merck & Co on Thursday reported better-than-expected third-quarter sales and profit on a jump in demand for blockbuster cancer immunotherapy Keytruda and human papillomavirus vaccine Gardasil.

Merck shares rose nearly 3% to $101.21 as the U.S. drugmaker also raised its full-year sales and profit forecast despite the impact of a weak euro and pound. The company's shares are up over 30% year-to-date, well outperforming the broader market.

Merck has been looking to pursue deals to protect itself from an eventual revenue loss as Keytruda patents begin to expire toward the end of the decade. The company was reportedly in talks to buy cancer focused biotech Seagen Inc over the summer, but a deal did not materialize.

"Our urgency on business development has not changed. We do see a list of potential places to play," Merck Chief Executive Robert Davis said on a conference call with analysts. "Obviously, we've got to bring them through to fruition, which we're working to do."

Merck announced on Wednesday that Davis would take on the additional role of chairman as of Dec. 1, succeeding incumbent and former CEO Ken Frazier.

Keytruda sales jumped 20% to $5.4 billion for the quarter, in line with analysts' estimates. Gardasil sales rose 15% to $2.3 billion, topping expectations by more than $200 million.

Gardasil's performance "reflects growing international demand and potentially a normalization from COVID trends in the U.S.," Wells Fargo analyst Mohit Bansal said in a note.

The company also posted slightly better-than-expected sales of its COVID-19 antiviral drug Lagevrio (molnupiravir), which it developed and shares with Ridgeback Biotherapeutics.

Sales by Merck's animal health business missed analysts' estimates. BMO Capital Markets analyst Evan Seigerman called that "the only point of concern," but noted the unit had enjoyed significant growth earlier in the pandemic.