Hello, everyone, and how are you today? We are doing just fine, thank you, especially since the middle of the week is upon us. After all, we have made it this far so we are determined to hang on for another couple of days. And why not? The alternatives — at least those we can identify — are not so appetizing. And what better way to make the time fly than to keep busy. So grab that cup of stimulation and get started. Our flavor today is pistachio creme — sweets for the sweet, you know? And now … onward. Here are a few items of interest to help you get started. We hope you have a lovely day, and do keep in touch. …
Merck signed a deal worth up to $2 billion with Hansoh Pharma to develop and sell the Chinese biotech’s experimental oral obesity drug that is similar to the popular weight loss treatments Wegovy and Zepbound, Reuters notes. Merck will pay $112 million upfront for an exclusive license to the drug. Under the deal, Hansoh will be eligible to receive up to $1.9 billion in development and regulatory milestone payments as well as royalties on sales. For Merck, the deal boosts its chances of winning a slice of the booming obesity drug market, which some analysts expect to be worth more than $100 billion a year by the early 2030s. While leading treatments known as GLP-1 drugs from Novo Nordisk and Eli Lilly are both injectables, the Hansoh drug can be taken orally. Other companies, such as Amgen and Structure Therapeutics, as well as Novo and Lilly, are also developing oral treatments in the hopes of providing patients with a convenient dosing option.
After a whistleblower exposed the criminal behavior of Endo International, which marketed prescription opioids, the U.S. Department of Justice waited more than a decade to bring charges against the company. But while federal agencies said the company owed up to $7 billion in criminal fines, back taxes and other charges, the government settled this year for just $200 million, ProPublica explains. Meanwhile, Endo is still selling narcotics, lawyers made $350 million, a few executives shared $95 million in bonuses, and thousands of opioid victims are to share $40 million. Federal prosecutors explained the reduced fines by noting Endo had filed for bankruptcy protection and lacked funds. But under a plan code-named Project Zed, Endo restructureed its debt to retain control of the company and hand out $95 million in executive bonuses before seeking protection in bankruptcy. The result for U.S. taxpayers: Endo paid a tiny fraction — three pennies on the dollar — of the $7 billion that officials said it owed the U.S. government, including $4 billion in taxes.
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