Takeda is planning more than 600 layoffs in Massachusetts. AstraZeneca and Daiichi Sankyo's Dato-DXd failed to show an overall survival benefit in a lung cancer study. Japan's Asahi Kasei is moving to buy rare disease drugmaker Calliditas for about $1 billion. Plus more.
1. Takeda, amid restructuring campaign, plots 641 layoffs at 2 Massachusetts sites
Takeda, the largest life sciences employer in the state of Massachusetts, has revealed plans to lay off 641 staffers between its sites in Cambridge and Lexington. The company disclosed the moves in a Worker Adjustment and Retraining Notification (WARN) Act notice to the state. The cuts are part of a $900 million restructuring recently revealed by Takeda's leadership. In a statement, a spokesperson said the company is "working diligently to limit the amount of impact for our employees as much as possible as we evolve to meet the organization's needs moving forward, which will include adding new roles with specific skill sets to best address these needs.”
2. AstraZeneca-Daiichi's Enhertu follow-up Dato-DXd unable to prove overall survival benefit in phase 3
As AstraZeneca and Daiichi Sankyo await word from the FDA on their approval filings for datopotamab deruxtecan (Dato-DXd) in non-squamous non-small cell lung cancer and HR-positive, HER2-negative breast cancer, the companies have revealed a bit of bad news for the prospect. In the phase 3 TROPION-Lung01 trial, the antibody-drug conjugate (ADC) did not improve overall survival to a statistically significant degree compared with the chemotherapy docetaxel. The companies touted a "numerical" improvement for their drug and stressed that the full trial results still support their lung cancer filing. The drug is a follow up to their successful ADC Enhertu.
3. Japan's Asahi Kasei puts up $1.06B offer to buy out Tarpeyo maker Calliditas
Japanese drugmakers are continuing to show a willingness to strike M&A deals. In the latest, Asahi Kasei put down $1.06 billion to purchase Tarpeyo maker Calliditas. Sweden-based Calliditas last year secured a full FDA approvcal for Tarpeyo to treat immunoglobulin A nephropathy (IgAN). Calliditas' top shareholders are on board with the deal proposal, the company said. With the deal, Asahi said it aims to expand into “immunology, transplantation and adjacent diseases,” particularly in the U.S.
4. Summit shares soar after cancer drug tops Merck’s Keytruda (Bloomberg)
As the industry's top oncology conference kicks off in Chicago, Summit Therapeutics' ivonescimab is drawing considerable attention for results in a China-only study. The trial showed the drug delivered “a statistically significant and clinically meaningful improvement” in progression-free survival compared with Merck & Co.'s superstar Keytruda in patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) whose tumors have positive PD-L1 expression. Summit partner Akeso conducted the trial.
5. BioNTech pays $25M upfront to strengthen ADC bond with China's MediLink
BioNTech is again bolstering its presence in antibody-drug conjugates through a deal with China's MediLink. In this accord, BioNTech is paying $25 million up front to gain the ability to deploy MediLink's solid-tumor-focused TMALIN ADC platform against several undisclosed targets. Previously, BioNTech paid $70 million to MediLink for rights to a HER3-directed ADC.
Other News of Note:
6. Innovent to take IL-23 psoriasis drug to Chinese regulators after phase 3 win
7. FDA follows Form 483 to Indian drugmaker Laurus Synthesis with a 2nd rebuke