legal
Sacklers, Purdue to pay $7.4 billion over opioid cases
The Sackler family and Purdue Pharma have agreed to pay a $7.4 billion settlement to resolve lawsuits over their role in the opioid crisis.
Under the new terms, the Sacklers would not receive immunity from future lawsuits, STAT's Ed Silverman writes. A previous deal was scuttled last year by the U.S. Supreme Court over the insistence of some Sackler family members who sought immunity.
The settlement aims to address the damages caused by Purdue's aggressive marketing of OxyContin. The funds will support addiction treatment and prevention programs over the next 15 years.
Read more.
DRUG DEVELOPMENT
Neomorph, AbbVie strike $1.64 billion deal
San Diego biotech Neomorph is partnering with AbbVie in a deal worth up to $1.64 billion to develop molecular glue degraders, a class of small molecule drugs designed to selectively degrade disease-driving proteins. Many companies are chasing molecular glue, FierceBiotech writes, including Roche, Bristol Myers Squibb, and Merck.
The companies have both oncology and immunology targets in mind. Neomorph, which launched in 2020, has struck other large deals — including a $1.45 billon pact with Biogen and another with Novo Nordisk that's worth up to $1.46 billion.
podcast
Chinese biotechs and departing the WHO
What does President Trump's decision to leave the WHO mean for public health? Should U.S. companies be intimidated by Chinese drug development? And is Elaine tired of Adam and Allison? We discuss all that and more on this week's episode of "The Readout LOUD," a weekly biotech podcast from STAT.
First, we go over our closing thoughts from the J.P. Morgan Healthcare Conference, including the chatter around Chinese drugs and a surprise run-in with a past cohost. Then, STAT's infectious disease reporter, Helen Branswell, joins us to explain the implications of Trump's decision to pull the U.S. out of the WHO.
Listen here.
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