| |   | Hi there, it's Meghana. In this edition, the Sacklers faced a virtual reckoning from victims of the opioid crisis, the SEC is threatening to delist Chinese biotechs if they aren't transparent about their finances, and more. | | | Sackler family hears testimony of opioid victims The Sackler family heard the testimonies yesterday of more than two dozen Americans whose lives were ripped apart by the opioid crisis. The U.S. Bankruptcy Court hearing was held virtually as it seeks to facilitate the settlement of thousands of lawsuits against the Sackler-owned Purdue Pharma, which manufactures OxyContin. Richard Sackler, former president of Purdue Pharma, was in attendance, along with other members of the family. “I hope that every single victim’s face haunts your every waking moment and your sleeping ones, too,” one person in recovery from opioid addiction told the Sacklers. “You poisoned our lives and had the audacity to blame us for dying.” Read more. | Can biotech companies age gracefully? Where did Covid-19 come from? And does Theranos make for good television? We cover all that and more this week on “The Readout LOUD,” STAT’s biotech podcast. We examine Gilead Sciences' recent struggles and what the company's predicament says about the drug industry. Then, MIT Technology Review reporter Antonio Regalado joins us to discuss his new podcast investigating the origins of Covid-19. We also discuss the latest Theranos trial, playing Elizabeth Holmes on TV, and how we managed to make 200 episodes of this show. Listen here. | On March 31, take an inside look at the technologies and procedures set to redefine medicine, and change patient care in the years to come. You’ll hear from the CEOs, scientists, entrepreneurs at the forefront of these efforts. Get your pass now, and use your STAT+ subscriber login to unlock a 20% discount. | Pfizer taking a half-step back from Russia In the wake of the Ukraine conflict, Pfizer CEO Albert Bourla said the company has no intention of investing further in Russia. But Pfizer also isn’t cutting ties with the country entirely — with Bourla telling CBS that it makes “some medicines in Russia for Russia” and will continue to do so.
Less than half a percent of Pfizer’s revenue comes from Russia, he said — adding that the Ukraine conflict shouldn’t trigger any lapses in the supply chain or changes in pricing. “How can you say I’m not going to send the cancer medicines to Russians because of what they did?” Bourla said. | Chinese biotechs under SEC threat of delisting The SEC has threatened to delist five Chinese companies from U.S. exchanges if they don’t turn over detailed audit documents, the Financial Times writes. Among the companies: major biotech players including BeiGene, Zai Lab, and HutchMed. U.S. lawmakers passed a law in December 2020 requiring Chinese companies to allow watchdogs to scrutinize their financial audits. BeiGene and the other companies will be forced off the New York Stock Exchange or Nasdaq if a U.S. accounting oversight board can’t inspect their audits for three years. | More reads - Venrock leads pharmacy startup’s $20 million refill. (Axios)
- Selecta back in phase 1 gene therapy saddle after clinical hold lift, plans to reboot 'expeditiously' (FierceBiotech)
| Thanks for reading! Until next week,  | | | |
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