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Friday, April 12, 2024

Lilly Suffers Legal Loss in Tirzepatide Case Against Compounding Pharmacy

 A Florida judge on Tuesday dismissed Eli Lilly’s case against a compounding pharmacy, finding that the drugmaker cannot use state law in its campaign against reformulated versions of the company’s top-selling weight-loss and diabetes medication tirzepatide.

U.S. District Judge Roy Altman wrote in his ruling that in asking the courts to bar the defendant—a compounding pharmacy named RXCompoundStore.com—from marketing its own compounded version of tirzepatide, Lilly is trying to preempt federal law.

“We think Eli Lilly is using state law to enforce the terms of the FDCA [Federal Food, Drug, and Cosmetic Act], which … is a task generally ‘reserve[d] to the FDA,’” Altman wrote, adding that the court will not allow Lilly “to use state law as a back door to private enforce the FDCA.”

“As the Supreme Court has made clear, ‘the FDCA and its regulations provide the United States with nearly exclusive enforcement authority,’” the judge’s ruling states. “Given the federal government’s ‘nearly exclusive’ authority to enforce the FDCA, courts around the country have generally refused to encroach on that authority by adjudicating claims that a party has (or has not) complied with the FDCA.”

Lilly launched its legal offensive against several compounding pharmacies in September 2023, alleging that RXCompoundSTore.com—along with other compounding pharmacies that are defendants in separate lawsuits—were violating the FDCA by selling altered versions of tirzepatide that have not yet been approved by the FDA.

Compounded drugs refer to medicines that have been chemically altered or combined with other components. These altered versions of drugs can have drastically different tolerability, safety and efficacy profiles. While the FDA cannot guarantee the quality of compounded drugs, their use is permitted under some niche circumstances, like when a patient is allergic to one component of an approved drug.

At the time of the filing of the lawsuits, Lilly said that the compounded forms of tirzepatide may pose health risks to consumers, and that the lawsuits aimed to “protect patient safety and stop the unlawful marketing and sale of non-FDA approved compounded products.”

Lilly competitor Novo Nordisk, which markets Ozempic and Wegovy, has also been going after compounding pharmacies and wellness clinics for selling altered version of semaglutide. The pharma has filed at least two rounds of legal complaints—one in June 2023 and another in July—seeking to block the sale of these counterfeit products.

In February 2024, the Danish drugmaker claimed an early victory in its legal campaign, with a Miami court in the Southern District of Florida issuing a permanent injunction against Ekzotika Corporation, blocking it from suggesting that any of its compounded semaglutide products are authentic or approved by the FDA.

https://www.biospace.com/article/lilly-suffers-legal-loss-in-tirzepatide-case-against-compounding-pharmacy/

AstraZeneca Expands Fasenra’s Label to Younger Children with Severe Asthma

 The FDA on Thursday greenlit the label expansion of AstraZeneca’s subcutaneous IL-5 receptor blocker Fasnera (benralizumab), which can now be used as an add-on maintenance treatment for severe eosinophilic asthma in children six to 11 years of age.

The approval will expand treatment options “for children whose quality of life has been drastically impacted by severe eosinophilic asthma,” Liz Bodin, vice president of AstraZeneca’s respiratory and immunology unit in the U.S., said in a statement.

Fasenra is a humanized monoclonal antibody designed to bind to the alpha subunit of the human IL-5 receptor, which is typically expressed on the surface of eosinophils and basophils. According to Fasenra’s label, this binding interaction triggers cell death in these immune players while suppressing inflammation, a central pathological pathway in asthma.

Fasenra first won the FDA’s approval in November 2017 for use in patients aged 12 years and older, backed by strong Phase III trials that showed steep reductions in the annual asthma exacerbation rate versus placebo, as well as significant improvements in lung function.

Thursday’s label expansion is supported by data from the Phase III TATE trial, an open-label, multinational, non-randomized and parallel-assignment study, which showed that Fasenra’s pharmacokinetic and pharmacodynamic profiles in patients aged six to 12 years were consistent with what had been demonstrated in previous studies.

TATE also found Fasenra to be safe in this younger patient population, with an adverse event profile similar to that found in prior trials.

The label expansion could position Fasenra as a stronger competitor in the crowded biologics market in the asthma space. Last year, Fasenra brought in more than $1.55 billion for AstraZeneca, representing 12% growth at constant currencies compared to 2022.

Regeneron and Sanofi’s Dupixent (dupilumab) is the most dominant product in the space, bringing in nearly $11.6 billion in 2023, though this was also driven by sales in its other indications such as atopic dermatitis and eosinophilic esophagitis.

Roche’s Xolair (omalizumab) is also a formidable competitor in asthma, hitting around $2.34 billion in sales in 2023. Meanwhile, GSK’s biologic asthma asset is Nucala (mepolizumab), which last year brought in $1.655 billion in revenue.

https://www.biospace.com/article/astrazeneca-expands-fasenra-s-label-to-children-aged-6-to-11-with-severe-asthma/

Altice France Senior Creditors Seek 6-Month Cooperation Pact

 

  • Advisers pitched agreement in creditor call on Friday
  • Co-op deals have grown popular in response to investor fights

Altice France’s senior creditors are aligning their interests with an unusually long-dated cooperation agreement ahead of debt restructuring talks, according to people with knowledge of the matter.

Group advisers Gibson Dunn & Crutcher and Rothschild & Co. detailed a six-month agreement in a call with investors on Friday, said the people, who asked not to be identified because discussions are private. The deal could be extended twice for 60 days after the initial period, the people added, and it has the support of the group’s steering committee, one of the people said.

https://www.bloomberg.com/news/articles/2024-04-12/altice-france-senior-creditors-seek-6-month-cooperation-pact

China Exports Collapse, Prompting Yuan Devaluation Fears

 China’s export growth tumbled in March compared to last year, sparking questions about a possible yuan devaluation at a time when China's biggest mercantilist competitor in Asia - Japan - has intentionally cratered its currency. 

Chinese Exports declined by 7.5% from a year earlier in March to $279.7 billion, far was than the median estimate of a 1.9% drop and was in sharp contrast to the 7.1% growth in combined figures for January and February. It was dragged down due to a higher base in the same period last year, when China reported robust growth of 14.8% at $315.6 billion. Imports also slumped, sliding -1.9% yoy in March, and far below the Bloomberg consensus of a +1.0% increase.

In sequential terms, exports increased by +1.2% in March (vs. +3.5% in January-February), while imports decreased by 1.4% in March (vs. +0.8% in January-February).

With exports collapsing, China's trade balance also slumped, dropping to just $58.6BN in March, far worse than the Bloomberg consensus of $69.1BN, and down from January-February average balance at US$62.6bn. Today's release of trade data only covers major trading partners and products. The detailed breakdown of trade by country and by product will be released on April 20.

Some more highlights:

  • By major destination, export value fell sequentially across major trading partners except for ASEAN. The high bases last March drove year-over-year export growth deeply negative. Among major DM countries, exports to the US dropped by 15.9% yoy in March (vs. +2.6% yoy in January-February), and exports to the European Union declined by 14.9% yoy in March (vs. -2.3% yoy in January-February). Among major EM economies, exports to ASEAN fell by 6.3% yoy in March (vs. +0.1% yoy in January-February).

  • By major category and in sequential terms, exports of automobiles rose notably in March while exports of fertilizer and cellphones declined. On a year-over-year basis, export growth of tech-related products remained strong. Export of chips increased by 11.5% yoy in March (vs. +21.4% yoy in January-February) with +7.0% sequential growth (mom non-annualized sa). Export growth of housing-related products moderated notably in March: for example, exports of furniture dropped by 12.3% yoy in March (vs. +28.7% yoy in January-February).

  • Among major categories and in sequential terms, imports of natural gas and refined petrol rose in March while imports of machine tools and iron ore declined. For major commodities and on a year-over-year basis, import growth of metal ores remained solid in March while import growth of energy-related goods moderated. Specifically, import value of crude oil declined by 3.5% yoy in March (vs. +3.6% yoy in January-February) with import volume down 6.2% yoy (vs. +5.0% yoy in January-February). Import value of iron ore rose 7.5% yoy in March (vs. 33.0% yoy in January-February) with import volume up 0.5% yoy (vs. 7.9% yoy in January-February). On tech-related products, import growth of chips moderated significantly in March (+2.0% yoy in March vs. +14.4% yoy in January-February).

Last year, China experienced its first decline in export growth in seven years, with shipments dropping by 4.6% due to weak external demand. It created additional challenges amid Beijing’s efforts to revive the post-pandemic economy, as it was also grappling with an exodus of foreign investment, waning market confidence and potential trade barriers.

Meanwhile, as Bloomberg notes, the dismal trade numbers will only add to the worries over the world’s second-biggest economy, which bodes poorly for a yuan that’s been in retreat this year, which incidentally is just what Beijing wants since China desperately needs a weak currency to make its exports cheaper, which however is proving very difficult with the yen not only sliding to a record low against the yuan, but dropping below a key support level.

Dollar-yuan is being driven by the contrasting outlooks for central bank policy, along with the direction of USD/JPY.

Bloomberg's conclusion here is that until there is official support for the yen - which seems unlikely even as the Japanese currency crater to a new record low every single day -  or a shift back to expectations for early Fed interest rate cuts, "there isn’t much Chinese authorities can do about an outperforming US dollar. Especially as the PBOC is seen easing monetary policy again this year." We disagree, especially because the PBOC is seen easing monetary policy: China can - and at this rate will have no choice but to - devalue the currency, and while so far it has been doing everything in its power to telegraph that it will defend the yuan and avoid a repeat of the record capital outflows from 2015, one day Beijing will shock everyone when it announced that the Yuan has lost 10% of its value overnight, and which point the surge in crypto and gold will truly shine.

The bottom line is that Beijing continues to be trapped: either keep the currency artificially "stable" and suffer continued trade loss to competitor Japan which is crushing its currency, or devalue the yuan and regain the mercantilist throne, however at the expense of massive capital outflows.

https://www.zerohedge.com/markets/china-exports-collapse-prompting-yuan-devaluation-fears

Fauci Adviser Secretly Messaged Zoologist Who Funneled Money to Chinese Lab: Emails

 by Zachary Stieber via The Epoch Times,

A top adviser to Dr. Anthony Fauci secretly messaged a zoologist who funneled money from Dr. Fauci’s agency to a laboratory in the Chinese city where the first COVID-19 cases appeared, according to newly disclosed emails.

Peter Daszak speaks to media upon arriving at the Wuhan Institute of Virology in China's central Hubei province, on Feb. 3, 2021. (Hector Retamal/AFP via Getty Images)

Dr. David Morens, the adviser, sent at least four messages to Peter Daszak, the zoologist, the emails show. Images of the email headers were obtained and released by the U.S. House of Representatives Select Subcommittee on the Coronavirus Pandemic.

Dr. Morens, who was messaging from his personal email, wrote to Mr. Daszak, the president of EcoHealth Alliance, and others on April 26, 2020; July 13, 2020; and Feb. 20, 2022. At least three of the messages were about a grant from the U.S. National Institute of Allergy and Infectious Diseases (NIAID) to EcoHealth to study bat coronaviruses. Money from that grant was funneled by EcoHealth to the Wuhan Institute of Virology.

“Please read and acknowledge receipt -- Actions needed regarding 2R01AI110964-06,” the subject line of one message stated.

In another, Dr. Morens was responding after Mr. Daszak told him an NIAID grant officer said “he’s unable to talk with me anymore about our suspended [grant].”

The grant was suspended on April 24, 2020, by former President Donald Trump’s administration after the COVID-19 pandemic started. President Joe Biden’s administration restored funding in 2023, although it suspended and later banned the Wuhan lab from receiving money.

An inspector general determined in a 2023 report that EcoHealth and the National Institutes of Health (NIH) failed to properly monitor research being done in Wuhan. EcoHealth also failed to obtain documents the NIH requested following the emergence of COVID-19, which EcoHealth blamed on a lack of cooperation from Chinese officials. The NIH is the NIAID’s parent agency.

Dr. Morens in a previously released email said that he “retained very few emails or documents” on the origins of COVID-19 “and continue to request that correspondence on sensitive issues be sent to me at my gmail address.”

He said in another email that “I try to always communicate on gmail because my NIH email is FOIA’d constantly“ and that ”I will delete anything I don’t want to see in the New York Times.”

The newly acquired emails, sourced from a whistleblower, show “further attempts by Dr. Morens to subvert public transparency,” Rep. Brad Wenstrup (R-Ohio), chairman of the subcommittee, said on April 1

He was writing to Dr. Gerald Keusch, director of the National Emerging Infectious Diseases Laboratory Institute at Boston University.

Dr. Keusch was part of the emails between Dr. Morens and Mr. Daszak.

Dr. Wenstrup asked Dr. Keusch to provide all communications between Dr. Keusch and Dr. Morens about the origins of COVID-19, EcoHealth, or the Wuhan lab, in addition to communications between Dr. Keusch and government agencies on the same topics.

Dr. Keusch, Dr. Morens, and EcoHealth did not respond to requests for comment.

Some experts and government agencies believe that COVID-19 originated at the Wuhan lab, which was conducting risky experiments on coronaviruses. Some others favor the natural origin theory. No animal intermediary has been identified as of yet.

Dr. Morens answered questions from the House subcommittee in January. According to a readout of the interview, Dr. Morens said Mr. Daszak is a close friend. He said that he “stood with 100% certainty behind the zoonotic origin of COVID-19, ”even though he acknowledged not exploring any evidence supporting the lab theory. Dr. Morens also denied deleting material on the origins of COVID-19 or making attempts to skirt the Freedom of Information Act.

“The select subcommittee has serious questions about the legitimacy of these claims,” the panel said at the time. “Chairman Wenstrup plans to receive access to Dr. Morens’s personal email account.”

https://www.zerohedge.com/covid-19/fauci-adviser-secretly-messaged-zoologist-who-funneled-money-chinese-lab-emails

Monogram Accepted to NVIDIA Inception Program

 Collaboration to Provide Monogram with Technical Resources to Drive Development and Commercialization of mBôs System

 Monogram Orthopaedics Inc. (NASDAQ:MGRM) ("Monogram" or the "Company"), a medical technology company focused on reconstructive joint procedures and surgical robotics, today announced it has joined NVIDIA Inception, a program designed to help companies evolve faster through cutting-edge technology and access to the latest technical resources from NVIDIA.

NVIDIA Inception will help drive Monogram to help drive development of its mBôs robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation necessary for reconstructive joint replacement procedures with go-to-market support, expertise, and technology assistance. The program will also offer Monogram access to the best technical tools, latest resources, as well as opportunities to connect with investors and collaborate with industry-leading experts and other AI-driven organizations.

https://www.accesswire.com/852464/monogram-accepted-to-nvidia-inception-program

PaxMedica Milestone for PAX-101, Update on Potential NDA Submission

  PaxMedica, Inc. (NASDAQ:PXMD), a biopharmaceutical company focused on advancing treatments for neurological disorders, today announced the completed execution of its three pivotal registration/validation batches of PAX-101, an IV formulation of suramin. This achievement is an important milestone to enabling a New Drug Application (NDA) submission to the U.S. Food and Drug Administration (FDA), which is currently planned for Q4 2024, and for the potential commercial availability in the U.S. of the first and only form of suramin for the treatment of Stage 1 Human African Trypanosomiasis (HAT), caused by Trypanosoma brucei rhodesiense, a fatal, neglected tropical disease, if approved by the FDA.

Reaching this milestone is critical to PaxMedica's journey towards potential FDA approval for PAX-101, currently the accepted standard of treatment outside the United States for the deadliest cause of HAT, according to the CDC. A successful review and approval of the NDA could further qualify the company for a Tropical Disease Priority Review Voucher (PRV). PaxMedica plans to fund a sustainable global supply chain for PAX-101, and further advance research and clinical trials to address Autism Spectrum Disorder. This underscores the company’s commitment to tackling some of the most challenging neurological conditions.

https://www.globenewswire.com/news-release/2024/04/11/2861889/0/en/PaxMedica-Achieves-Key-Milestone-in-the-Development-of-PAX-101-And-Provides-Update-on-Potential-NDA-Submission.html