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Drug pricing in Europe, AI deals for VC firms, and more biotech news from The Readout

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Elaine’s stories explore the boom in new obesity treatments, new drug payment models, the ways companies are affected by FDA changes, and the emerging psychedelics drug sector. She co-writes The Readout newsletter , and co-hosts STAT’s weekly biotech podcast, The Readout Loud . You can reach Elaine on Signal at elaineywchen.70.

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Good morning. In today’s news, we have: pricing conundrums, lab demand, and drug shortages.

The need-to-know this morning

Sanofi said it was halting a Phase 3 study of its drug riliprubart in a rare autoimmune disease after an interim analysis showed the therapy was not effective. It’s the latest blow to the French firm’s R&D efforts, which new CEO Belén Garijo has been brought in to revitalize.

Parabilis Medicines , a developer of cancer medicines, raised $670 million in an initial public offering . It’s the largest-ever biotech IPO, topping obesity drugmaker Kailera Therapeutics’ $625 million debut in April.

European countries at odds over drug-pricing policies

In Europe, countries are grappling with what to do about drug prices as they contend with conflicting pressures. Aging populations and growing rates of chronic disease are straining their budgets, but, at the same, the U.S. and drugmakers are demanding they pay more for medicines.

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Elaine’s stories explore the boom in new obesity treatments, new drug payment models, the ways companies are affected by FDA changes, and the emerging psychedelics drug sector. She co-writes The Readout newsletter , and co-hosts STAT’s weekly biotech podcast, The Readout Loud . You can reach Elaine on Signal at elaineywchen.70.