R&D News | pharmaphorum

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For the first time in its 16-year history, Deloitte's annual report on pharma R&D returns sees obesity replace cancer as the largest driver.

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After abandoning an IPO bid last year, Odyssey is trying again, emboldened by recent big-value listings that suggest 2026 could be a bumper year.

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Belgian biotech UCB has made its second acquisition of the year, buying T-cell engager player Candid Therapeutics for up to $2.2 billion.

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Pulmonary fibrosis drug developer Avalyn prices its IPO at around $300m, as Seaport and Hemab both target $180m-plus from their listings.

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Teva has made its first pipeline-building acquisition in almost a decade, buying Tourette syndrome drug developer Emalex for up to $900m.

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AstraZeneca has delivered a much-needed boost to the UK government alongside a strong set of first-quarter results.