Major Developments in Health Sector: New Drugs and Global Initiatives

The U.S. FDA approved Bristol Myers' new schizophrenia drug, the first of its kind in decades. Bavarian Nordic signed an agreement with UNICEF for one million mpox vaccines. Pfizer announced the withdrawal of its sickle cell treatment, Oxbryta, impacting trial speeds for rivals. Additionally, the FDA lifted a hold on Biomea's diabetes trials.

Bristol Myers Squibb has achieved a milestone with the U.S. FDA approval of its new schizophrenia medication, Cobenfy. This marks the first introduction of a new antipsychotic in decades, setting it apart with no warnings about mortality risks in elderly patients.

In a significant move against the mpox outbreak, Bavarian Nordic has committed one million vaccine doses to UNICEF for African countries. The agreement entails an initial 500,000 doses co-funded by Gavi, reinforcing the collective global health effort.

Pfizer has halted its sickle cell disease treatment, Oxbryta, following deadly complications, signaling a potential acceleration in rival drug trials. Meanwhile, the FDA has resumed Biomea's diabetes drug trials post-safety review, signaling renewed hope for diabetes treatment advancements.

(With inputs from agencies.)