The drug maker could end up doubling the addressable patient population for Filspari thanks to the new label removing the proteinuria threshold, plus a draft treatment guideline from a kidney disease group.

New therapies in the wings include two candidates for Niemman-Pick disease type C, a first-in-class antipsychotic, a targeted oncology therapy under Real-Time Oncology Review, and a new drug for gastroparesis.

US FDA approval in IgAN is just the first step in a much larger renal disease strategy for the company, which includes additional kidney indications for Fabhalta.

Following a pair of $10bn+ deals in Q4 2023 and a $16.5bn takeout in Q1, the second quarter saw no acquisition priced as high as $5bn, Evaluate notes. Aggregate deal volume and values dropped from Q1.