Keep pulling the thread on Federal Trade Commission.
The Federal Trade Commission is moving to block a licensing deal between Sanofi and Maize Therapeutics.
The FTC alleged that Sanofi was licensing a drug from Maize Therapeutics to slow its development or kill it, thereby maintaining its own monopoly in the Pompe disease market.
Sanofi announced it was terminating its licensing deal with Maize Therapeutics within an hour of the FTC's challenge being made public.
The FTC's complaint against Sanofi suggests that a review of internal documents led the agency to conclude Sanofi intended to kill or slow the development of the licensed drug from Maize Therapeutics.
Pfizer's 2024 financial guidance for revenue and profits was far below analysts' expectations.
Pfizer projects its COVID-19 vaccine and treatment will generate $8 billion in revenue for 2024.
Vertex Pharmaceuticals announced positive Phase 2 results for its drug VX-548, showing significant pain reduction in patients with chronic nerve pain from diabetes.
Vertex Pharmaceuticals' market capitalization crossed the $100 billion threshold on December 13, 2023.
Vertex Pharmaceuticals is currently running Phase 3 studies for its pain drug VX-548 in acute pain settings, with data expected in early 2024.
The Federal Trade Commission under the Biden administration is adopting a new approach to regulating antitrust and policing mergers.
The Federal Trade Commission previously challenged Amgen's acquisition of Horizon Pharmaceuticals.
Maize Therapeutics learned that its partner Sanofi was terminating their licensing deal from Sanofi's public press release.