BRISTOL MYERS SQUIBB

2024 saw highs and lows in neuroscience drug development, including FDA approval of BMS's Cobenfy for schizophrenia and Eli Lilly's donanemab for Alzheimer's, alongside failures like Sage Therapeutics' dalzanemdor in Parkinson's, Alzheimer's, and Huntington's. Despite setbacks, progress continues in treating intractable neurological diseases.

2024 saw significant medical breakthroughs, including gene therapy restoring hearing in children with hereditary deafness, the first genetically-edited pig kidney transplant into a human, discovery of a cause of lupus, FDA approval of the first new class of schizophrenia drug in over 30 years, and authorization of the first over-the-counter combo flu and COVID test outside of emergency use.

The FDA approved three immunotherapy drugs for resectable NSCLC without clear evidence on their benefits before or after surgery. Oncologists face dilemmas in treatment decisions due to lack of data on when immunotherapy is most effective. Recent discussions suggest neoadjuvant therapy may offer more benefits than adjuvant, potentially reducing unnecessary treatments and risks.

2024's clinical trials highlight advancements in precision medicine, immunotherapy, metabolic health, simplified treatments, cardiovascular care, and rare diseases. Key innovations include mRNA-4157 for melanoma, nivolumab for Hodgkin lymphoma, retatrutide for obesity, lenacapavir for HIV prevention, tenecteplase for stroke, and Depemokimab for severe asthma, transforming patient outcomes and healthcare.

2024 saw major medical breakthroughs: gene therapy restored hearing in children with hereditary deafness, the first genetically-edited pig kidney transplant was performed, a cause of lupus was discovered, the FDA approved a new schizophrenia drug, and the first over-the-counter combo flu and COVID test was authorized.

FDA granted orphan drug designation to VGT-1849A, a selective ASO-based JAK2 inhibitor for treating polycythemia vera (PV). PV, a rare hematologic malignancy, affects 1 in 2000 individuals in the US and is caused by a JAK2 V617F mutation. VGT-1849A aims to reduce JAK2 activity, potentially offering targeted efficacy and improved safety over current JAK2 inhibitors.

U.S. large-cap biopharma stocks underperformed the broader market for two consecutive years due to political uncertainty and sector rotation. JP Morgan analysts remain positive on key players like Eli Lilly, Bristol-Myers Squibb, Merck & Co., Regeneron Pharmaceuticals, Gilead Sciences, and AbbVie Inc. Animal health stocks, including Zoetis Inc and IDEXX Laboratories, are also projected to rebound in 2025. Specialty pharmaceuticals showed early signs of stabilization in 2024.

Recursion Pharmaceuticals, an AI-focused biotech, could see significant progress in 2025. The company uses AI to accelerate drug discovery and development, potentially launching medicines faster and at lower costs. Collaborations with Nvidia and others, along with positive clinical trial results, suggest potential, though risks remain as no drugs are yet on the market.

Novo Holdings completes $16.5B Catalent Pharma Solutions buyout. Merck pays $112M upfront for obesity pill. Ottimo Pharma raises $140M for cancer therapy. Novo Nordisk invests $1.2B in Denmark factory. Angitia Biopharmaceuticals raises $120M for musculoskeletal candidates. Novartis closes MorphoSys sites, laying off 330. SiteOne Therapeutics secures $100M for non-opioid pain drugs. Novo Nordisk's obesity drug underperforms. Bristol Myers Squibb invests $100M in BioArctic's Alzheimer antibodies. Sudan's healthcare collapses. Tonix Pharmaceuticals files NDA for fibromyalgia drug. Neurocrine Biosciences wins FDA approval for Crenessity. Edgewise Therapeutics discusses accelerated approval for Becker muscular dystrophy. FDA places partial hold on PepGen's Duchenne therapy. Checkpoint Therapeutics' immunotherapy approved. WHO opens Academy in Lyon. GSK's Jemperli earns FDA Breakthrough status. Sanofi's duvakitug shows remission in ulcerative colitis. Sandoz agrees to $275M settlement over drug pricing. Pfizer projects 2025 earnings. Mesoblast's Ryoncil approved as 1st MSC therapy for graft-vs-host disease.