• California: 23andMe could be sold for almost $50 million more than its initial sale price after the company's former CEO Anne Wojcicki pushed for a bankruptcy court to reopen the sales process. Last month, Regeneron Pharmaceuticals announced plans to purchase 23andMe for $256 million through a bankruptcy auction. However, 23andMe requested the bankruptcy court to reopen the sale process after Wojcicki bid $305 million to buy the company through her newly founded nonprofit TTAM Research Institute. Previously, Wojcicki had offered to buy 23andMe for $40 million before it filed for bankruptcy in March. TTAM, Regeneron, and 23andMe have negotiated a plan to conduct a second sales process, with TTAM's $305 million bid as the starting point. If Regeneron chooses to participate, it will have to bid $10 million more. Once Regeneron submits its bid, each bidder will have the opportunity to submit a final offer, and Regeneron will have the last look. Whoever loses the bid for 23andMe will receive a $10 million breakup fee. The sale is expected to take place later this month, pending court approval of specific dates. (McElhaney, Wall Street Journal, 6/4)
• Massachusetts/New Jersey: BMS last week announced plans to pay $1.5 billion up front to BioNTech for a 50% share in the profits and losses of a new experimental cancer drug called BNT327. So far, over 1,000 patients have been treated with BNT327, and clinical trials are currently testing it as a first line treatment for extensive stage small cell lung cancer and non-small cell lung cancer. BioNTech also plans to start a global Phase 3 trial to evaluate the drug in triple negative breast cancer by the end of the year. Aside from the initial $1.5 billion payment, BMS will also provide BioNTech with $2 billion in annual payments through 2028, and BioNTech will later be eligible for up to $7.6 billion in additional development, regulatory, and commercial milestone payments. "Our deep experience and expertise in advancing and delivering groundbreaking immuno-oncology medicines positions BMS well to collaboratively realize the potential of BNT327, an asset with significant potential for transforming the standard of care for patients with solid tumors," said BMS CEO Christopher Boerner. (Herper, STAT, 6/2)
• Washington: Amazon Pharmacy has rolled out several new features aimed at attracting more older adults who are covered by Medicare. According to Amazon, it is launching a new "caregiver support feature," which allows customers to have another person manage medications on their behalf. Customers who have Medicare Part D can also now access PillPack, Amazon's pharmacy that is designed to simplify medication management, especially for multiple prescriptions. "These updates deliver what our customers have been asking for—simpler medication management for themselves and their loved ones," said John Love, VP of Amazon Pharmacy. "Whether you're a caregiver juggling multiple prescriptions for an aging parent, or a customer who could benefit from the convenience of pre-sorted packets delivered reliably each month, we’re removing barriers and making pharmacy work better for you." (Japsen, Forbes, 6/3)

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