Aug. 7 - Lilly’s $100B market loss, layoffs at Iovance and questions for Arvinas

Iovance cuts staff amid slow sales start for ‘TIL’ cell therapy; Arvinas, Pfizer reworking partnership on ‘Protac’ cancer drug; Biotech’s M&A outlook is uncertain. Track the deals that are happening here.; FDA lifts pause on Valneva’s chikungunya shot, but adds new limits

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Aug. 7, 2025 | Today’s news and insights for biopharma leaders

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Lilly shares fall as obesity pill misses expectations in key trial

While orforglipron succeeded in a Phase 3 trial, its weight loss effects were more modest than investors and analysts anticipated, leading to a selloff in shares that erased about $100 billion in market value.

Iovance cuts staff amid slow sales start for ‘TIL’ cell therapy

A spokesperson confirmed the company plans to reduce its workforce by “less than 20%,” months after significantly lowering its financial forecasts.

Arvinas, Pfizer reworking partnership on ‘Protac’ cancer drug

The smaller market now envisioned for vepdegestrant has changed both companies’ stance on their original deal, leading to negotiations that could either lead to a new alliance or Arvinas to seek a new partner.

The race to scale to 1,000 liters and beyond in gene therapy manufacturing

Extend transfection complex formation time by up to three hours, reduce complex volume by >50% and maintain high titers and full capsids.

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Biotech’s M&A outlook is uncertain. Track the deals that are happening here.

CorMedix will pay $300 million upfront to acquire antibiotic drug developer Melinta Therapeutics from affiliates of Deerfield Management.

FDA lifts pause on Valneva’s chikungunya shot, but adds new limits

The FDA had halted use in older adults while it investigated reports of side effects. The vaccine’s label now carries new warnings and restricts vaccination to individuals at high risk of infection.

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