Biotechnology Services

Moderna Inc. MRNA -0.96% will price its Covid-19 vaccine at about $130 a dose when it shifts to commercial distribution of the shots later this year, much higher than what the federal government has paid. The plans fueled criticism of the company from lawmakers who explored the cost of the shots at a Senate hearing Wednesday. The cost could vary depending on contracts reached with health systems, pharmacies, federal health programs and other potential buyers, but the…

But early this week, some companies were still left hurrying to make sure they could make this week’s payroll. In biotech—a sector where many startups relied on SVB—some were still finalizing the opening of new checking accounts to pay their employees from; and many of those who tried to move their funds out of their SVB accounts were unable to do so because the bank’s website kept crashing. Many biotechs used their SVB accounts to pay their bills and to draw their payroll funds. Making payroll was foremost among many…

U.S. health officials released the first list of drugs paid for by the government’s Medicare insurance program whose prices went up more than the rate of inflation and will face a penalty under a new federal law.The Centers for Medicare and Medicaid Services on Wednesday named 27 drugs that had the large price increases, including  rheumatoid-arthritis treatment Humira from AbbVie Inc. and Yescarta lymphoma therapy from Gilead Sciences Inc., and will face the…

Under the terms, Pfizer would pay $229 a share cash, the drugmaker said Monday. The companies expect the deal to close late this year or early next year. The $43 billion deal total includes debt, a Pfizer spokeswoman said. It is likely to face scrutiny from antitrust regulators, who have stepped up their reviews of healthcare and other deals.…

A new Amgen Inc. lung-cancer treatment, Lumakras, carried a hefty price tag when it came out in 2021: $17,900 per patient monthly.Just over a year later, in December 2022, a second drug for the same type of cancer, Krazati from Mirati Therapeutics Inc., had an even higher price: $19,750 a month—a 10% premium. As drugmakers face rising pressure to rein in repeat or annual price hikes on existing drugs, new brand-name medicines are coming to market with ever-higher…

Moderna Inc. Chief Executive Stéphane Bancel pushed back against criticism of the company’s pricing plans for its Covid-19 vaccine at Monday’s Wall Street Journal Health Forum.  U.S. politicians including Sens. Bernie Sanders (I., Vt.), Elizabeth Warren (D., Mass.) and Peter Welch (D., Vt.) have questioned the company’s strategy around commercial pricing, which could be unveiled in the coming months. Moderna received funding…

An unprofitable biotech that pioneered a relatively new kind of cancer therapy has caught the attention of the world’s largest drugmakers on the hunt for the next big opportunity in one of the industry’s most lucrative markets.  Seagen Inc. sells three of the novel cancer agents—known as antibody drug conjugates, or ADCs—that work like a guided missile attacking tumors with toxins. Although the company’s products generate around $2 billion in yearly sales and the company operates at a loss,…

Federal regulators approved a drug to treat a debilitating disease using data collected about patients over decades, creating an opening for researchers of other rare conditions who often struggle to prove their treatments work.The Food and Drug Administration on Tuesday approved Reata Pharmaceuticals Inc.’s drug Skyclarys, or omaveloxolone, for treating the neurological disorder Friedreich’s ataxia in adults and adolescents age 16 and older.…

Pfizer Inc. PFE -1.30% is in talks to acquire biotech Seagen Inc., SGEN -0.51% according to people familiar with the matter, the latest potential deal for a big drug company aimed at adding a promising class of targeted cancer therapies. The talks are at an early stage and there is no guarantee there will be a deal, the people said. A number of hurdles would need to be overcome,…

Moderna said its research and development expenses soared in the fourth quarter. Photo: Simon Simard for The Wall Street Journal…