Moderna's new cancer vax, AstraZeneca CEO's big pay, and record-high drug shortages: Pharma news round up
Moderna stock rose after new data suggested that its experimental vaccine could be used to treat a variety of cancers. The American Society of Health-System Pharmacists said the number of ongoing drug shortages has already reached a record in 2024. And Pfizer is hoping to become the first drugmaker to get regulatory approval to expand the allowed use of its RSV vaccine to younger adults.
Check out those stories and more pharma news highlights.
The number of active drug shortages reached a record high this year, report says
Four months in, and 2024 has already broken the record for the year with most ongoing drug shortages. As of March 31, the American Society of Health-System Pharmacists (ASHP) has added 48 new drugs to its tracker of national shortages. This brings the number of active shortages in 2024 — so far — to 323, according to a new ASHP report.
Moderna paused its plans for a facility in Kenya because COVID-19 vaccine demand has plummeted
Moderna said it is pausing its plans to build an mRNA vaccine manufacturing facility in Kenya as demand for mRNA vaccines lags in Africa. The Massachusetts-based vaccine maker says the continent’s uptake of COVID-19 vaccines is no longer sufficient enough to support the project.
Novartis wants to buy a German cancer drugmaker as it stops recruiting for its own trials
It’s been a busy week for Swiss healthcare giant Novartis. In a series of days, the company said it’s slowing trials of its blockbuster cancer drug and slashing hundreds of jobs — and attempting to snap up a German drugmaker on the side.
A pharma company hiked the price of its eye drug by a whopping 486%
At least 945 brand name drugs have had their list prices hiked in 2024 so far, according to the non-profit 46Brooklyn. One of the largest was Harrow’s eye medication Triesence at a 486% increase to $944 from $161.
AstraZeneca’s CEO makes double what Novo Nordisk’s chief is paid. He needs a raise, some investors say
AstraZeneca CEO Pascal Soriot is already one of the highest paid pharmaceutical CEOs in Europe. Still, shareholders of the U.K.-based company can’t agree on whether he deserves a raise or not.
New data on Moderna’s cancer vaccine sends stock rising
Moderna stock jumped after the the company announced positive results for an experimental, personalized cancer vaccine in an early trial for patients living with a type of head and neck carcinoma.
Pfizer wants the first FDA approval ever for an RSV vaccine for young adults
Pharma giant Pfizer said it plans to seek regulatory approval to expand the allowed use of its RSV vaccine, Abrysvo, for adults age 18 to 59, following positive results from a last-stage clinical trial. There is currently no approved vaccine for adults under 59 years old who have an increased risk for the respiratory virus.
Concerns about Ozempic and reported suicidal thoughts are being probed by an EU regulator
A European Union regulator will hold a follow-up meeting this week as it reviews anecdotal reports of users of popular diabetes and weight loss drugs — including Novo Nordisk’s Ozempic — saying they experienced suicidal thoughts after starting the medications.