Heavily rebated drugs may already be meeting the price goals established by the Senate legislation. As a result, price negotiation for drugs covered under Part B are likely to yield greater savings to the Medicare program than Part D.

The UK major has teamed up with the US biotech to develop the latter’s HER-2 targeted antibody-drug conjugate, a couple of years after the approval of Blenrep, in what is becoming an increasingly competitive space.

During Q2, biopharma merger and acquisition value reached $25.4bn and drew in $27.3bn in potential deal value from alliances. Device company M&A values reached $2.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $534.3m.

The French firm’s Onivyde has missed the mark in an advanced small-cell lung cancer Phase III trial, prompting the firm to tout the drug’s prospects in a large pancreatic cancer indication instead.