| Softbank Vision Fund 2 is looking at aging as its next big bet, sources say | | |  | FRI, DEC 06, 2019 | | | | Think a friend or colleague should be getting this newsletter? Share this link with them to sign up.
Biogen this week presented highly anticipated data from the aducanumab trial it halted earlier this year. The company shocked the industry and the Alzheimer's community when it revived the drug in October. Now, Biogen plans to submit the drug to the FDA for approval. This experience is just one example of how difficult it can be to develop and test neuro drugs, Meg Tirrell explains.
(Are there any stories we should be chasing? Email tips, ideas, suggestions to CNBC Health Editor Dawn Kopecki at dawn.kopecki@nbcuni.com.)
| | Biogen and Sage spotlight difficulty of neuro drug trials | When we talked with Sage CEO Jeff Jonas two weeks ago, he told us he didn't view his company's depression drug trial as a binary event. Wall Street disagreed, wiping more than $4 billion from the company's market value Thursday when the study didn't meet its goal. Biogen's update, also on Thursday, was more complicated: panelists at an Alzheimer's conference were generally positive on the drug's prospects, but many analysts are still extremely skeptical. Still, nothing changed in the company's plans to file for regulatory approval early next year – handing the ball to the FDA. What both show, though, is how complicated it is to run clinical trials in the CNS (central nervous system) space – which, especially in depression and Alzheimer's – drastically needs new medicines.
-Meg Tirrell | | | | Softbank Vision Fund 2 is looking at aging as its next big bet, sources say | Softbank is looking at some new deals for its next fund. Among them is Honor, a home care technology start-up, which was founded by a former Google employee. The partners have discussed making a $150 million investment in the business, which might be viewed by its critics as a more conservative bet compared with money-losing consumer-focused businesses like Uber and WeWork.
-Christina Farr | | | | Senate health panel advances Trump's FDA chief nominee | Dr. Stephen Hahn, chief medical officer at the University of Texas MD Anderson Cancer Center, is one step closer to becoming the next Food and Drug Administration Commissioner. The Senate Committee on Health, Education, Labor and Pensions approved his nomination in an 18 to 5 vote. Senators grilled Hahn in his confirmation hearing after he dodged their questions about whether he'd push the White House to ban flavored e-cigarettes. Hahn's nomination now moves to the full Senate.
-Angelica LaVito | | | | White House claims dire consequences from Pelosi's drug pricing bill | The White House claimed in a report this week that House Speaker Nancy Pelosi's drug pricing plan would result in as many as 100 fewer drugs hitting the U.S. market over the next decade. The report from the administration, which has instead endorsed a bill from Sen. Chuck Grassley, suggests far greater consequences than other estimates if the bill is enacted and was met with skepticism from policy experts. The CBO only estimates a reduction of eight to 15 new drugs hitting the market.
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