CT-388 hits in Phase I, but there is a long way to go before the Carmot acquisition pays off.

As Astellas pivots through several candidates in an attempt to create its next blockbuster, a decision to terminate its only prospect in the core mitochondrial R&D area leaves very few other competitors in the market.

The weak yen helped push up both global revenues and costs for major Japanese firms in the fiscal year ended 31 March, while good mainstay growth benefited Daiichi Sankyo and Astellas. Chugai meanwhile had a challenging start to its calendar financial year due to lower pandemic drug stockpiling.

C-suite leaders from Lilly, Roche and J&J spoke at a Citeline-sponsored panel at Swiss Biotech Day in Basel and offered encouragement to start-ups trying to negotiate the tricky financial landscape.