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.

The US Food and Drug Administration selected Eli Lilly (LLY), Regeneron (REGN) and five other companies to take part in a pilot program aimed at accelerating reviews of new domestic pharmaceutical manufacturing facilities.

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.

Novartis (NVS) and Genentech, the Roche (RHHBY) unit, are at the center of a newly unsealed whistleblower lawsuit alleging a decades-long kickback scheme to promote their immunology drug Xolair across dozens of US states.

BridgeBio Pharma (BBIO) said its experimental oral drug for achondroplasia improved not only growth but also body proportionality in children with the condition, a secondary benefit that analysts believe could distinguish the treatment from rival therapies for the most common form of dwarfism.

Merck & Co (MRK) said that its experimental drug tulisokibart met the main goal and key secondary goals in a late-stage trial of patients with ulcerative colitis, a chronic inflammatory bowel disease.

Britain's Competition and Markets Authority has welcomed a Court of Appeal ruling that overturned an earlier decision finding the regulator had relied on flawed reasoning when it fined Pfizer (PFE) and Flynn Pharma £70mn for excessive pricing of the epilepsy drug phenytoin.

A South African court has granted an interim order blocking a local pharmacy group from manufacturing and selling weight-loss medicines containing semaglutide, the active ingredient in Novo Nordisk's (NOVO) Ozempic and Wegovy drugs.

AbbVie (ABBV) has agreed to buy Apogee Therapeutics (APGE) for $10.9bn, its largest acquisition in more than five years, as the pharmaceutical group looks to strengthen its pipeline of treatments for inflammatory diseases such as atopic dermatitis and asthma.

Kardigan (KARD) shares surged 31 per cent above their initial public offering price after the heart drug developer raised $400mn in an upsized US initial public offering, in a sign of strong investor appetite for new biotech listings.

Regenxbio (RGNX) shares jumped 16 per cent after the company said the US Food and Drug Administration had indicated that existing data for its rare-disease gene therapy could support an accelerated approval application, reversing course months after declining to approve the treatment.

Pfizer (PFE) has said that an experimental cancer drug acquired through its $43bn takeover of Seagen in 2023 failed to extend survival compared with chemotherapy in a late-stage trial of previously treated lung cancer patients, denting hopes for one of the assets underpinning the group's oncology pivot.

Alnylam Pharmaceuticals (ALNY) has been reprimanded by the UK's Prescription Medicines Code of Practice Authority after a complaint from Pfizer (PFE), though the industry watchdog softened its harshest criticism on appeal.

Nara Organics is voluntarily recalling all of its infant formula sold in the United States after the Food and Drug Administration and the Centers for Disease Control and Prevention flagged three cases of infant botulism in babies who had consumed the product.

Novo Nordisk (NOVO) plans to submit its oral Wegovy weight-loss pill for Chinese regulatory approval within a few months, Chief Executive Mike Doustdar said, as the Danish drugmaker seeks to close the gap with rival Eli Lilly (LLY) in the world's second-largest pharmaceutical market.

Sixth Street Partners and KKR & Co (KKR) have agreed to provide $1 billion in preferred equity financing to BridgeBio Pharma (BBIO), according to people familiar with the matter, in one of the largest biotech deals so far this year.

Ananym Capital Management has built a stake in Bio-Techne Corp (TECH) and is pressing the company's board to launch a strategic review that would include weighing a potential sale, according to a letter reviewed by Bloomberg News.

Zepzelca, the small-cell lung cancer treatment sold by Jazz Pharmaceuticals (JAZZ) and developed with Spain's PharmaMar (PHM), has failed a phase 3 trial on its primary endpoint of overall survival, threatening the drug's original accelerated approval for the second time in its history.

Alnylam Pharmaceuticals (ALNY) shares fell to a 52-week low of $282.71 in mid June, just above the yearly trough of $283.10, extending a slide that has knocked more than a quarter off the drugmaker's valuation in 2026.

The US Food and Drug Administration has expanded approval of Dexcom's (DXCM) Stelo Glucose Biosensor System to include children with diabetes, making it the first over-the-counter continuous glucose monitor cleared for pediatric use.