The planned split is a major shakeup for the world’s largest drugmaker and one of the most familiar corporate brands. The new company will sell well-known products like Tylenol and Band-Aids.

The startup, which emerged Wednesday with $37 million in funding, is the latest company trying to top Bristol Myers’ TYK2 inhibitor Sotyktu.

The companies said the drug, called lecanemab, met all of its goals in the Phase 3 study. The data are a significant finding and provide stronger support for a much-debated hypothesis for treating Alzheimer’s.

A former Biogen employee sued in 2012, alleging the company paid physician fees to encourage prescribing of its drugs. Biogen did not admit wrongdoing as part of the settlement.

Rival companies have set a standard in lymphoma and leukemia. Now the Swiss drugmaker wants to be a pioneer in cell treatments for solid tumors.

The company and its development partner, CRISPR Therapeutics, will begin submitting a rolling application in November. The blood disease treatment is the first of its kind to near an FDA review. 

The California biotech will receive $25 million upfront from Sanofi, which plans to use Scribe’s platform to edit natural killer cells for cancer treatment.

The CEO resuscitated the sector’s first “public benefit corporation” during the pandemic, building an unusually transparent model for biotechs. Now, he’s spun out a startup and is planning for more.

The request, if cleared, would make U.S. kids between 5 through 11 eligible to receive a "bivalent" shot targeting components of the omicron variants currently circulating. 

While a long-rumored acquisition by Merck & Co. still hasn’t materialized, Seagen is forging ahead with a deal of its own, grabbing rights to a bispecific antibody drug from Lava Therapeutics. 

The startup, which launched last year with $315 million in funding and plans to advance a new form of gene editing, is one of the first big venture-backed biotechs in several months to seek an IPO.

The U.K. drugmaker now also stands to become the first big pharmaceutical company to have women in its top two roles, with the transition planned for May 2023.