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Finance Watch: Lexeo Launches 20th US Biopharma IPO In 2023

Public Company Edition: Lexeo raised $100m to advance its genetic medicines. Also, Blue Owl Capital acquired funds managed by Cowen Healthcare Investments, gaining about $1bn in life science assets, BMS priced $4.5bn in notes to fund its Mirati purchase and Viridian raised $185m in a private placement.

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Fast Start To Oral Phenylephrine Efficacy Complaints As US FDA Considers 'Any Action'

Two days after FDA advisory panel’s meeting to discuss whether oral phenylephrine is effective for nasal congestion, complaints filed in federal court in multiple states alleging manufacturers knowingly misled public about ingredient’s efficacy. FDA’s potential response to NDAC’S finding wouldn’t come as soon.

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Abbott Stops Using ‘#1 Infant Formula Brand’ Claim After Finding Supporting Data Out Of Date

Mead Johnson not only gains with Abbott stopping use of claim on Similac packaging, but also continues using similar claim on Enfamil packages, “#1 Pediatrician Recommended Brand.”  In NAD report, Abbott says data backing up its claim apparently wasn’t current.

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Haleon’s ‘#1 Doctor Recommended’ Voltaren Claim Challenged By RB Clears NAD Review With Caveat

NAD says in advertising without references to arthritis, Haleon should ensure claim Reckitt challenged “clearly and conspicuously discloses that Voltaren is approved for the treatment of arthritis pain.” Haleon supports “#1 Doctor Recommended” and “#1 Topical Pain Reliever Globally” claims.

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