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Good morning. I started the morning reading this story of how a botched football kick may have saved someone’s life.
The need-to-know this morning
- Novartis shares were down in early trading after the company reported a drop in sales and operating profit in the first quarter, with generic competition hitting drugs like Entresto hard. The company affirmed its guidance for the year, with net sales expected to grow in the low single digits, and core operating profit forecasted to decline slightly.
- The FDA has taken further actions to withdraw the approval of Amgen’s rare-disease drug Tavneos and remove it from the market. Tavneos was approved in 2021, but new information indicates the drug is ineffective and the application used to support approval contained “untrue statements of material fact,” the FDA said. Amgen has refused to withdraw Tavneos voluntarily, insisting the drug is safe.
Lilly bets on next-gen gene editors with new deal
Eli Lilly this morning announced a deal with AI-focused biotech Profluent to develop new forms of gene editors potentially capable of inserting entire genes into patients.
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