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Brussels opens formal antitrust case against Sanofi over flu vaccine marketing

The European Commission has opened formal proceedings in an antitrust investigation into Sanofi (SNY), nine months after conducting unannounced inspections of the French drugmaker's offices in France and Germany. The probe centers on Sanofi's marketing of its flu vaccine for at-risk seniors, Efluelda, and whether the campaign disparaged its only rival in the indication, Fluad, made by CSL (CSLLY) unit Seqirus.

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H.C. Wainwright trims Alnylam price target despite bullish long-term RNAi outlook

H.C. Wainwright has lowered its price target on Alnylam Pharmaceuticals (ALNY) to $470 from $510, while maintaining a Buy rating on the stock. The revision reflected adjusted near-term estimates for AMVUTTRA, the company's RNA interference therapy, to align with management's guidance for continued net price normalization as the business scales.

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Zymeworks to buy Theravance Biopharma in $929mn cash deal

Zymeworks (ZYME) has agreed to acquire Theravance Biopharma (TBPH) for $929mn in cash, four months after the Dublin-based drugmaker shut down its research and development operations, cut half its workforce and put itself up for sale.

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Democratic states sue to block Medicaid work-requirement rule

A coalition of Democratic-led states filed suit against the Trump administration, seeking to block a rule that would impose new work requirements on Medicaid recipients, arguing the measure unlawfully restricts exemptions for people with serious medical conditions.

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