Catch up on all the biggest news to hit the pharmaceutical industry over the last month, with stories spanning the US election, new breakthroughs, startup funding and more
Words by Jade Williams
5 November
Speaking at Obesity Week 2024, AstraZeneca reveals that its oral obesity drug AZD5004, licensed from Eccogene in a $2bn deal, has shown safety in phase I trials, clearing the way for phase II. Viking Therapeutics also presents an update on its oral therapy at the event, presenting compelling phase I data on its oral treatment VK2735.
6 November
Donald Trump secures a second term as US President and the Republican’s gain control of the Senate. This raises questions around the future of the US pharmaceutical industry, with the future of the Inflation Reduction Act particularly uncertain. While popular among voters, expansion beyond Medicare pricing caps is unlikely, analysts believe.
11 November
A report finds that the aggregate market capitalisation of the 20 largest drugmakers grew by 2% overall in Q3 2024, reaching $4.3tn. Among these, Bristol Myers Squibb, Gilead Sciences and Sanofi stood out with robust growth, while the two leading companies, Novo Nordisk and Eli Lilly, experienced minor dips in the individual market cap figures.
12 November
AstraZeneca announces an over $3.5bn investment aimed at expanding its US research and manufacturing capabilities by the end of 2026. This includes $2bn to create more than 1,000 highly skilled jobs. The investment includes a state-of-the-art R&D centre in Massachusetts, a next-generation biologics manufacturing facility in Maryland and more.
18 November
Austin-based startup Revisto raises $4m in seed funding, aiming to simplify the industry’s marketing compliance processes using AI. With backing from Eli Lilly, Tau Ventures and Arkin Digital Health, the company’s AI platform is designed to reduce the time it takes for companies to bring marketing materials to market while ensuring they comply with strict regulations.
19 November
Novartis claims the top spot in the 2024 Access to Medicine Index, displacing GSK after 16 consecutive years at the top. The Index, which evaluates pharmaceutical companies’ efforts to improve healthcare access in low- and middle-income countries, gave a special mention to Novartis’ leadership in Governance of Access, Research & Development and Product Delivery.
26 November
The European Federation of Pharmaceutical Industries and Associations (EFPIA) warns that Europe must act urgently to support biopharmaceutical small and medium-sized enterprises (SMEs). A report conducted by Charles River Associates highlights the lack of EU-specific funding for SMEs, which is pushing some companies to seek more supportive environments abroad.
28 November
An injectable therapy shows promise in treating asthma and chronic obstructive pulmonary disease exacerbations, marking the first major innovation in this area in over half a century. The research, supported by drugmaker AstraZeneca, shows that a single dose of benralizumab significantly reduces exacerbation treatment failure rates – by four times compared to traditional steroid tablets.
