Global Pharmaceuticals: Innovations, Setbacks, and Price Hikes

The latest health news briefs include the approval of an injectable cancer drug by the FDA, Anthem Biosciences's IPO filing, bird flu outbreaks in France, China's COVID-19 data-sharing, a lawsuit against Hain Celestial, Novartis's gene therapy study, Merck's new lung disease drug approval, and drug price hikes in the U.S.

The U.S. Food and Drug Administration has approved an injectable version of Bristol Myers Squibb's cancer drug Opdivo. This milestone adds a new option to the class of PD-1 inhibitors, enhancing the immune system's cancer-fighting capacity by eliminating its natural inhibitors.

Indian drugmaker Anthem Biosciences has proposed a $397 million IPO at the end of a dynamic year for market listings. The IPO documentation reveals that among the investors divesting shares are the private equity firm True North and drugmaker DavosPharma, with services ranging from initial drug discovery to efficacy testing.

France has reported bird flu in two poultry farms shortly after regaining its disease-free status. The virus has affected Europe in a wave linked to migrating birds, with varying degrees of severity compared to the United States, where the resulting flock losses have driven egg prices higher and the disease has spread to cattle and humans.

China stands firm on its COVID-19 data-sharing practices amidst the World Health Organization's call for more information. Asserting leadership in transparency, the Chinese foreign ministry claims unparalleled data sharing within the international community while also facilitating expert dialogues with the WHO on traceability.

Hain Celestial Group faces a class action lawsuit for allegedly not disclosing arsenic levels in baby food products. The U.S. District Judge in Brooklyn ruled that claims of elevated arsenic levels in Earth's Best Baby Food products could influence consumer purchase decisions linked to health considerations.

Swiss giant Novartis has reported success in its gene therapy screenings for a rare muscle disorder, improving motor function in affected children. The study focused on patients aged 2 to less than 18, targeting a condition that weakens their ability to perform basic physical actions.

The UK's health agency approved Merck's lung disease therapy, recently bought in a major $11 billion acquisition. Known as Winrevair, the drug has been recognized in various international markets, including the U.S. and EU, illustrating a significant stride for the pharmaceutical company's potential blockbuster product.

Sangamo Therapeutics announced a setback following Pfizer's termination of their collaborative effort on hemophilia A gene therapy, resulting in a sharp drop in Sangamo's stock prices. However, Sangamo intends to regain control over the development of the therapy, considering new partnership opportunities.

As of January 1, drugmakers are set to increase prices for over 250 medications in the U.S. as analyzed by 3 Axis Advisors. The price hikes, including changes to Bristol Myers Squibb and Sanofi products, will mostly remain under a 10% increase, with a median rise of 4.5%, reflecting similar adjustments seen in previous years.

(With inputs from agencies.)