FDA Endorses Broader Use of Eli Lilly Drug; Novartis Acquires RNA Tech
What happened
The FDA endorsed the broader use of a medicine made by Eli Lilly and Company. Separately, Abogen Biosciences agreed to furnish Novartis with access to its RNA technology, including an option to license its lead program ABO-2203, in exchange for a $575 million upfront payment.
From biopharmadive.com
Why it matters
The FDA endorsement expands the market access for Eli Lilly and Company's drug. Concurrently, the deal allows Novartis to integrate new RNA technology into its drug development pipeline.
From biopharmadive.com
Who's involved
- FDARegulatory body that formally approves and tracks market authorizations for pharmaceutical products.
- Eli Lilly and CompanyPharmaceutical company whose medicine received broader use endorsement from the FDA.
- NovartisPharmaceutical corporation that is receiving access to RNA technology from Abogen Biosciences.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- NovartisSpeculative
Novartis could see increased investment in its pipeline due to the upfront payment and licensing deal with Abogen Biosciences.
- Eli Lilly and CompanySpeculative
Eli Lilly and Company may see increased revenue from the expanded market access granted by the FDA.
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The entities involved
- FDA
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Eli Lilly and Company
American pharmaceutical company
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Novartis
Swiss-American multinational pharmaceutical corporation
Related events
- Eli Lilly and AstraZeneca are involved in drug development and market competition, with the FDA issuing approvals and legal actions involving both companies.
- uniQure N.V. traded on the Nasdaq stock exchange and submitted a Biologics License Application (BLA) for accelerated approval of its gene therapy.
- Eli Lilly and Novo Nordisk are pivoting their product descriptions toward longevity therapeutics and have backed a funding round for an epigenetic reprogramming company.
- AbbVie and Eli Lilly are competing in the pharmaceutical market.
- FDA oversees drug trials in the US and Israel for Clearmind Medicine Inc., which is listed on Nasdaq.