Public Company Edition: Cytokinetics executed a royalty financing deal for up to $575m and grossed $500m in a follow-on offering. Also, GSK grossed £1.25bn ($1.58bn) in sale of final Haleon shares, Bicycle raised $555m in a private placement and Apellis accessed up to $475m in debt.

Amended complaint filed 21 May after US Attorney General in March said the federal and state governments, named as co-plaintiffs, wouldn’t intervene and the court ordered the complaint unsealed. Complaint, initially filed in 2019, is critical of FDA, generally alleging agency failed to conduct sufficient oversight and evaluation of GSK’s testing data for ranitidine.

Haleon says it'll take about 10 more months to bring Futura's Eroxon erectile dysfunction gel to the US. Analysts, however, say it may even arrive before the end of the year, with Haleon already investing significantly in its launch strategy. 

The sun shines over a sector with multi-blockbuster products in their prime. But clouds are looming, and highly innovative products that cannot replace the sales shortfalls could lead to a re-rating of the sector’s growth prospects.