Biotechnology Weekly Update - 10-August-2023

FDA approves First Ever Drug To Treat Postpartum Depression
Sage Therapeutics/Biogen’s Zurzuvae has received FDA approval for postpartum depression, a mood disorder affecting 13% to 20% of women in the postpartum period.
https://www.rttnews.com/3382181/biogen-fda-approves-first-oral-treatment-for-postpartum-depression.aspx

BioNTech Trims R&D Expenses
BioNTech is tightening its R&D expenses this year in response to disappointing Q2 results due to lower COVID-19 vaccine market demand and write-offs by Pfizer.
https://www.rttnews.com/3382437/biontech-stock-falls-9-on-expense-cut.aspx

Obesity Drug Cuts Risk Of Stroke, Heart Attack by 20% in Landmark Study
Novo Nordisk's obesity drug Wegovyv demonstrated 20% reduction in major adverse cardiovascular events in a landmark heart health study, dubbed SELECT.
https://finance.yahoo.com/news/novo-nordisk-semaglutide-2-4-095600671.html

FDA Approves New Treatment For Geographic Atrophy
Astellas’ Izervay has secured FDA approval for treating geographic atrophy. The drug is anticipated to be available in the US in two to four weeks.
https://newsroom.astellas.us/2023-08-04-Iveric-Bio-Receives-U-S-FDA-Approval-for-IZERVAY-TM-avacincaptad-pegol-intravitreal-solution-,-a-New-Treatment-for-Geographic-Atrophy

Emergent BioSolutions To Cut 400 Jobs
Emergent BioSolutions is reducing its workforce by roughly 400 employees, as part of its strategic steps to strengthen core business and financial position.
https://www.rttnews.com/3383084/emergent-biosolutions-to-cut-operations-plans-400-job-cuts-coo-adam-havey-to-leave.aspx

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