Although Lilly said the glucagon spray’s relatively low sales were not a factor, the pharma may be prioritizing investment on its newer diabetes and weight-loss drug Mounjaro.

US approval for its hypoglycemia injection Zegalogue last year has not been converted into commercial success. Zealand will be hoping that having diabetes giant Novo Nordisk onboard will put that right.

Less than two year after going public by a SPAC merger, Gemini will reverse merge with hematology-focused Disc. Bristol Myers Squibb and GentiBio will join forces on Treg development for inflammatory bowel disorders.

Public Company Edition: The last biopharma IPO in the US was on 17 February and none have been scheduled, so far, for March. Also, another SPAC merger is called off, Travere sells $275m worth of notes and Xeris secures $150m in new debt, while Ovid, Passage Bio and others are cutting jobs.