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BioPharmGuy
Hope everyone is having a nice summer season so far - had some fun catching crabs on the beach last week.
We may have a big announcement coming pretty soon, so go on an get excited for that. Actually, on second thought, don't get excited. That way you won't be disappointed when it ends up being lame.
Addition & Attrition
Back to normal on database improvement this week - 33 companies added, seven removed. File available on our downloads page.
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Biogen/Eisai
This story is not going anywhere and the latest turn is a bit gratifying. The Alzheimer's Association, who took $525k from Biogen/Eisai, and who also happened to lobby the FDA to approve the drug (despite a lack of clinical data showing it worked), just put out a press release lambasting the pricing of the new therapy.
In their words: "This price is simply unacceptable". Also in their words: "the treatment demonstrated an efficacious result which has also been confirmed by leading scientists".
What to take from these statements is unknown considering they clearly just say whatever Alzheimer's-affected people want to hear.
Oh, by the way, the CEO of the Alzheimer's Association raked in $1.35 million last year. That was a nice 34% raise from 2019 thanks to an additional $315k in retention incentives. Kind of ridiculous to have to pay retention incentives to a CEO making over a million a year at a nonprofit.
Overall seven employees at the Alzheimer's Association made a half million or more last year. That's the classic nonprofit ruse - sure they didn't profit, because they massively overpaid their executives. Thanks, taxpayers!
Sloppy SPAC
If you haven't been learned yet, a SPAC is a publicly-traded company that does nothing. They take investor money then look for a private company to buy and merge with. That's it. It's a simpler way to take a private company public. Like any publicly-traded company, the SPAC is required to file quarterly reports. However, Ibere Pharmaceuticals couldn't be bothered to even do that. Lazy bastards.
Abbott
They announced a sharp drop in revenue from their BinaxNOW Covid tests. Not surprising - almost every adult is either vaccinated, recovered, dead, or doesn't care. Not really a market for Covid tests anymore. Must be rough for the hundreds of companies who pivoted to Covid diagnostics in the thick of the pandemic, but it was always likely to be a short-lived market. The shelves at the grocery store have been heaving with BinaxNOW for months around here.
EvoEndo
Just landed $10M in funding to further develop their "unsedated, pediatric transnasal endoscope". Seriously? Anyone who has tried cutting a child's toenails should know this idea is looney, even with their "VR-based patient distraction".
Organon
Organon was a drug company that was acquired by Schering-Plough in November 2007. Schering-Plough then merged with Merck in Nov 2009. Merck has now decided to spin out their women's health business and decided to name it...Organon. Wow, what an inspired choice. Total pain in the butt for us - the new company will have to be known as "Organon (2)" in our database which looks just great. Thanks a lot, Merck.
Adhera Therapeutics
Speaking of companies coming back, here's an interesting one. Melior Pharmaceuticals just announced they were planning to sell a drug product to Adhera Therapeutics. Thing is, Adhera ceased business operations in Dec 2019 so we removed them from our database. If you don't believe us, just look at their current homepage. Guess "terminated our current business operations" has a nuanced meaning we misinterpreted. Back in they go.
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YK Variant
The WHO averred that Covid variants would now be signified by Greek letters instead of being named after geographical areas of discovery. Wow, only about a year too late. Nice work.
Not that it matters much - Spanish flu probably didn't hurt Spain (though it also probably came from Kansas, so that was kinda some bullcrap.)
Then again, maybe the Ebola River valley would get more tourists were it not for that pesky virus causing people to bleed from their eyes.
Technically True
Yes, every dose counts, but it's pretty bad optics when the US donates 80 vials of vaccine to a poor nation like Trinidad & Tobago. We are betting this is leftover supply the US had sent for Americans in T&T. Here's hoping we can scrape together another 80 vials to send down in three weeks - times is tough!
Armadillo Graveyard, aka I-65
If you haven't spent much time in the south, you may not know armadillo roadkill is a popular roadside decoration. These critters have terrible eyesight so don't realize a car is approaching until it's really close. They also have a "defense" mechanism which involves jumping 2-3 feet into the air when startled. Guess it would be hard to avoid tires while airborne.
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