Published on 31 May 2024 on Zacks via Yahoo Finance
Pharma Stock Roundup: JNJ, MRK M&A Deals, SNY, RHHBY Drugs' Priority Review & More
This week, J&J JNJ and Merck MRK announced proposed acquisitions of private biotech companies. The FDA granted priority review designations to Sanofi's SNY and Roche’s RHHBY regulatory applications seeking expanded use of Sanofi’s multiple myeloma drug, Sarclisa and Roche’s breast cancer candidate, inavolisib. AstraZeneca AZN announced overall survival (“OS”) data from a phase III lung cancer study on it and partner Daiichi Sankyo’s candidate, datopotamab deruxtecan (Dato-DXd).
Recap of the Week’s Most Important Stories
J&J Buys Rights to Novel Atopic Dermatitis Candidate: J&J announced a definitive agreement with Numab Therapeutics to acquire global rights to NM26, a phase II-ready bispecific antibody targeting two clinically proven disease-driving pathways in atopic dermatitis (AD), IL-4R alpha subunit and IL-31. J&J will acquire the rights to NM26 from Numab’s shareholders through its wholly-owned subsidiary called Yellow Jersey Therapeutics. Numab Therapeutics will spin off Yellow Jersey Therapeutics to its shareholders. J&J will buy Yellow Jersey Therapeutics, which has the rights to NM26, from Numab’s shareholders for $1.25 billion in cash. The transaction is expected to be closed in the second half of 2024. J&J believes that NM26 has the potential to transform the standard of care for AD.