STAT+: Four major biotech updates to catch up on
Article excerpt
Anthropic CEO talks drug discovery, Medicare proposes steep 340B drug payment cuts, and more biotech news
Happy post-fourth. Hope you had a nice extended weekend, and hi from San Francisco!
Today, we’re reading about Medicare proposing staggering cuts to 340B payments, Republicans moving to preserve diversity in clinical trials, and a former surgeon general, Jerome Adams, offering counsel on peptides regulation.
The need-to-know this morning
Novartis is buying the privately held Myricx Bio for $1.1 billion upfront, picking up an antibody-drug conjugate platform designed to create cancer-fighting drugs for different solid tumors and overcome some of the limitations of existing ADCs. The deal for the U.K.-based Myricx includes milestone payments of up to $400 million and extends Novartis’ recent acquisition spree.
Anthropic CEO understands biology’s stubborn limitations
Anthropic CEO Dario Amodei is tempering his own bold predictions about AI transforming biotechnology, STAT’s Matt Herper writes. While, sure, AI could eventually compress decades of scientific progress into years, biology’s inherent complexity and glacial timelines mean that future remains years away.
Continue to STAT+ to read the full story…