Angus Liu

Sanofi will eliminate 229 jobs at Blueprint Medicines in Massachusetts between October 2026 and June 2027 and close two legacy Blueprint locations, including its former Boston headquarters. The remaining employees will move to Sanofi’s Cambridge Crossing campus as part of the integration following Sanofi’s $9.1 billion acquisition of Blueprint, which brought the rare-immunology drug Ayvakit and other KIT inhibitor candidates into its portfolio. Several former Blueprint executives have already moved to other companies. The reductions come shortly after Belén Garijo became Sanofi CEO and may signal a broader effort to simplify operations, reduce costs and reshape the company’s strategy.

Legend Biotech reported its first profitable quarter, with $63 million in adjusted net income, as interim CEO Alan Bash outlined efforts to expand Carvykti amid competition from Johnson & Johnson’s bispecific therapies. Taiho Pharmaceutical and Cullinan Therapeutics reported a positive phase 3 result for zipalertinib in first-line EGFR exon 20-mutated non-small cell lung cancer and plan to seek FDA approval. WuXi AppTec won a preliminary injunction blocking, for now, its designation by the U.S. Defense Department as a Chinese military-linked company. In China, Akeso received approval for ivonescimab in combination with chemotherapy for first-line squamous non-small cell lung cancer, while other developments included new partnerships, an AML drug marketing agreement and a planned WuXi Biologics acquisition of Transcenta assets.

Legend Biotech reported $63 million in adjusted net income for the second quarter of 2026, its first profitable quarter, driven by 50% year-over-year growth in Carvykti sales. Interim CEO Alan Bash said the company is prioritizing continued Carvykti expansion and pipeline development while seeking a permanent CEO after Ying Huang's resignation. Carvykti faces competition from Johnson & Johnson's bispecific therapies Tecvayli and Talvey and from Gilead's expected anito-cel, but Legend argues that the expanding multiple myeloma market leaves room for multiple treatment options and that CAR-T may offer advantages when used before bispecifics. Legend and J&J have expanded manufacturing capacity, reduced turnaround times to under four weeks and improved delivery reliability, while working to extend treatment into community and outpatient settings and address apheresis infrastructure bottlenecks.

Takeda’s Orzeyful became the first approved orexin treatment and the first medicine intended to address the underlying cause of narcolepsy type 1, with projected peak sales of $2 billion to $3 billion. Daiichi Sankyo’s shares fell 11% after the company disclosed $182 million in previously omitted expenses caused by accounts-payable booking errors. Astellas reported record quarterly revenue of 640.9 billion yen, driven by strong sales of Padcev, Izervay, Vyloy and Veozah. Other developments included a new AstraZeneca–CSPC biologics manufacturing venture in China, growing competition to establish biotech hubs, positive phase 3 kidney-disease data for Otsuka’s Voyxact, and new financing and research partnerships across the pharmaceutical sector.

Emergent BioSolutions will eliminate 93 jobs, remove 21 open positions and abolish its chief medical officer and head of R&D role as part of a restructuring led by CEO Joseph Papa. Simon Lowry is departing, while Stephanie Duatschek will lead a combined growth function spanning R&D, business development and strategy. The changes, including the closure of two Gaithersburg labs and an exit from a warehouse lease, are expected to save $40 million annually but generate $10 million to $11.5 million in one-time charges. The overhaul comes as competition from Amphastar's Rextovy and Scienture's Rezenopy drives pricing pressure and contributed to a 22% year-over-year decline in Narcan sales and a $191 million impairment charge. Emergent is instead emphasizing its government-supported medical countermeasures and biodefense business, which grew 188% year over year in the second quarter but remains volatile.

AstraZeneca and CSPC Pharmaceutical have agreed to form a 51-49 biologics manufacturing joint venture in Shijiazhuang, China. CSPC will provide most of the capital along with its AI-enabled good manufacturing practice system and manufacturing capabilities, while AstraZeneca will contribute global quality and supply-chain expertise. The facility will initially produce mutually agreed biologic drug substances for global markets, with further products potentially added. The venture is part of AstraZeneca's planned $15 billion investment in China through 2030 and follows several manufacturing, research and licensing collaborations between the companies.

Gilead Sciences’ HIV PrEP franchise surpassed $1 billion in quarterly sales for the first time, with second-quarter 2026 revenue reaching $1.03 billion. Descovy generated $801 million, while the newer twice-yearly injectable Yeztugo brought in $232 million, exceeding consensus estimates. Yeztugo has shown strong early adoption, including a reinjection rate above 70%, but Leerink analysts question whether persistence will hold among later adopters and lower-awareness populations. They also interpret Gilead’s development of a weekly oral lenacapavir product as evidence that many patients still prefer oral convenience and flexibility. Jefferies remains more optimistic, raising its peak-sales forecast for Yeztugo to $9.5 billion, while broader Wall Street consensus has declined to $6.7 billion.

Merck is positioning Lipfendra, the first oral PCSK9 cholesterol drug, as a major opportunity to expand a class that has struggled because of high prices, reimbursement barriers and limited cardiovascular-outcomes evidence. The FDA accelerated Lipfendra’s approval through the Commissioner’s National Priority Voucher program, viewing it as a demonstration product for the initiative. Merck expects a gradual launch as access and reimbursement develop, despite strong interest from physicians and patients, and has set a monthly list price of $315 with plans to offer discounts through TrumpRx. Analysts project peak annual sales of up to $5 billion. Merck is also exploring combinations with Crestor, its Lp(a) candidate MK-7262 and potentially oral GLP-1 drugs, while cardiovascular-outcomes data for Lipfendra are expected in 2029.