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The Week Ahead In Biotech: The Vaccine Updates, Drug Presentations, And FDA Decisions That Will Move The Markets

Biotech stocks advanced in the week ended Nov. 13 amid a vaccine news flow-induced rally that also lifted the broader market.The week started with positive tidings from Pfizer Inc. (NYSE: PFE) and its German partner BioNTech SE – ADR (NASDAQ: BNTX), which reported positive interim Phase 3 data for their jointly developed mRNA vaccine against the COVID-19 coronavirus.An update from rival vaccine developer Moderna Inc (NASDAQ: MRNA) on reaching the mandated number of cases for its first interim analysis also generated optimism.Five Prime Therapeutics Inc (NASDAQ: FPRX) rallied over 300% during the week, with the upside primarily due to …read more […]

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Exclusive: Drugmakers offer Canada C$1 billion to scrap some pending pricing rules

The pharmaceutical industry has made a last-ditch C$1 billion ($761 million) proposal to the Canadian government in hopes of fending off parts of a drug pricing crackdown set to go into effect on Jan. 1, according to industry documents reviewed by Reuters. The remaining regulations would still reduce drugmakers’ revenue by at least C$19.8 billion ($15.1 billion) over 10 years, according to an industry estimate. If other costly reforms are shelved, the industry is willing to spend C$1 billion over the same period to boost local manufacturing and commercialization, and on new programs to improve access to …read more […]