All entries for: Oncology

November 2, 2023

Eli Lilly & Company

Negative Outlook

Indianapolis, IN
10,001-50,000 employees
10001-50000 employees

“Global concern over access to and affordability of pharmaceutical products continues to drive regulatory and legislative debate and action, as well as worldwide cost containment efforts by governmental authorities. Such measures include the use of mandated discounts, price reporting requirements, mandated reference prices, restrictive formularies, changes to available intellectual property protections, as well as other efforts. In August 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (IRA).”

Disease Area: Multiple, Oncology
Drug Type: Biologic
November 1, 2023

Exelixis

Negative Outlook

Alameda, CA
1,001-5,000 employees
1001-5000 employees
Disease Area: Oncology
Drug Type: Small Molecule
October 26, 2023

Seagen

Discontinued Drug, Discontinued Research

Bothell, WA
1,001-5,000 employees
1001-5000 employees

“Seagen Inc. ended a program to study one of its drugs to treat an early-stage form of bladder cancer because it would have been subject to government price negotiations shortly after approval, Chief Executive Officer David Epstein said.

The company had been looking into using its drug Padcev to treat the nonmuscle-invasive version of the disease that accounts for about 70% of newly diagnosed bladder cancer cases. It stopped after determining that there would be no financial return from the potential use, as approval would have likely come soon before the drug became subject to price bargaining under the Inflation Reduction Act…”

1 Discontinued Drug: Padcev (biologic)
1 Discontinued Research Program

Disease Area: Oncology
Drug Type: Biologic
October 25, 2023

Alkermes

Negative Outlook

Dublin, Ireland
1,001-5,000 employees
1001-5000 employees
Disease Area: Oncology
Drug Type: Small Molecule
October 10, 2023

Pfizer

Layoffs

New York, NY
50,001+ employees
50001+ employees

“Pfizer is conducting layoffs at its Boulder, CO research facility, months after announcing a retreat from a significant chunk of its early-stage research… The facility specialized in small molecule discovery, and housed nearly 300 employees, according to Pfizer’s website.”

Disease Area: Oncology
Drug Type: Small Molecule
October 4, 2023

Bristol Myers Squibb

Discontinued Research

Princeton, NJ
10,001-50,000 employees
10001-50000 employees

BMS, whose blood thinner Eliquis (apixaban) is also on the list, wrote via email that it, too, is discontinuing certain oncology programs due to the IRA, including a late-stage registration trial for the multiple myeloma drug iberdomide. “Much of our progress against cancer is the result of post-approval research for patients, [and] as a result of the IRA, this research and progress is now at risk,” the BMS spokesperson wrote.

2 Discontinued Research Programs: iberdomide clinical trial; unnamed oncology programs

Disease Area: Oncology
Drug Type: Biologic, Small Molecule
August 14, 2023

Xilio Therapeutics

Negative Outlook

Waltham, MA
51-200 employees
51-200 employees
Disease Area: Oncology
Drug Type: Biologic
August 10, 2023

Zymeworks

Negative Outlook

Middletown, DE
201-500 employees
201-500 employees
Disease Area: Multiple, Oncology, Therapeutics
Drug Type: Biologic
August 10, 2023

Genentech

Negative Outlook

San Francisco, CA
10,001-50,000 employees
10001-50000 employees

“Now, he’s arguing that the law’s new Medicare negotiation program could encourage Genentech to slow-walk research on how a drug could treat diseases with smaller populations in favor of making sure diseases with larger patient populations are the first to market. That would mean the company would sell more medicines in the window before Medicare is allowed to negotiate prices, because the clock for when discounts can kick in is based off of when the drug first goes on the market.

Speaking about an experimental therapy in the works that could treat ovarian cancer, breast cancer, and prostate cancer, he said, “Normally, we would develop it in a fast market approach for ovarian cancer. That’s the shortest path to patients … but that is a much smaller indication than prostate cancer, which would take three years longer.”

“So the dilemma we’re facing right now is, do we go with the initial indication being prostate cancer and then hold off on the development and the approval [for] ovarian [cancer] because the clock will be started with prostate?””

Disease Area: Oncology
Drug Type: Small Molecule
August 10, 2023

IDEAYA Biosciences

Negative Outlook

San Francisco, CA
51-200 employees
51-200 employees
Disease Area: Oncology
Drug Type: Small Molecule
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