The privately owned company is searching for a successor to Jardiance, while the outcome of US Inflation Reduction Act talks on price cuts to the blockbuster will be revealed in September.

A year is a long time in biopharma. Pharmaprojects’ annual pipeline review finds changes in the therapeutic spread of drug candidates and a reordering of the top R&D companies, as Chinese firms made their presence felt all the more over the past 12 months.

US FDA approves the PD-1 inhibitor 20 months after user fee goal, resolving one of the last applications delayed by China’s extended pandemic travel restrictions.

Public Company Edition: Galderma proposed pricing for its $2.6bn Swiss public market debut. Also, Apogee and Akero lead follow-on offerings with $483m and $366.9m, respectively, and Lexicon’s private placement brings in $250m, while Spruce reveals a 21% workforce reduction.