layoffs
Rain Oncology laying off 65% of staff
A recent Phase 3 flop from Rain Oncology has meant the company is now parting ways with its chief medical officer, ending certain programs, and laying off 65% of its staff. The changes are an effort to shore up costs and stay solvent through 2026, FierceBiotech writes.
This news comes on the heels of Rain's lead asset, milademetan, failing to improve progression-free survival compared to chemotherapy in patients with liposarcoma. Rain acquired the small molecule drug from Daiichi Sanyo in 2020 and built its pipeline around it. Now, Rain is suspending enrollment in a Phase 2 trial that tests milademetan in patients with certain advanced solid tumors.
drug pricing
Medicare negotiations may be untouchable
The new law that allows Medicare to negotiate drug prices has ruffled some biopharma feathers — to the point that some drugmakers have hinted they may sue the government payer. But a new report suggests that some parts of the legislation can't be challenged, unless courts decide otherwise.
Protections for Medicare have been built into the negotiation process. For example, negotiators representing industry have been barred from talking about the proceedings with Medicare and must destroy all relevant documents used during negotiations. This weakens the industry's position, former FDA commissioner Scott Gottlieb recently said, because it prevents them from creating precedents that the industry can lean on in future negotiations.
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