Bayer made news this week announcing 1,500 layoffs as part of an effort to save €500 million ($540 million) in 2024 and €2 billion ($2.16 billion) in 2026, reminiscent of BMS’ announcement of a major restructuring that will involve 2,200 layoffs and aims to save $1.5 billion by the end of 2025. Bayer’s news just about rounds out the Q1 2024 earnings season highlighted by strong sales of GLP-1 weight loss drugs. However, it was Amgen that emerged as a big winner, with revenue increasing over 22% from Q1 2023.
In other news this week, Takeda took another deep dive into the Alzheimer’s space with a deal worth up to $2.2 billion with AC Immune for global rights to an immunotherapy that targets toxic forms of amyloid beta. And the BIOSECURE Act got an update, now naming WuXi Biologics among the Chinese firms that U.S. companies are expected to cut ties with, and setting a deadline of 2032.
Finally, we discuss the major takeaways from last week’s 2024 American Society of Gene & Cell Therapy (ASGCT) annual meeting. While the cell and gene therapy space faces many challenges, promising updates included Regeneron’s news that its gene therapy improved hearing in two young deaf children. And throughout the week, Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research (CBER), spoke with positivity on how the community is now working to address the challenges it now faces, touching on topics such as accelerated approval, global regulatory convergence and the Bespoke Gene Therapy Consortium, aimed at accelerating the delivery of AAV-based gene therapies for rare diseases.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!