Oncology is key to the German group’s turnaround plans and an early-stage licensing pact with NextRNA is the first cancer deal by its new business development leader.

Competing against Bristol and AbbVie in the muscarinic receptor agonist space, Neurocrine’s drug shows efficacy but a high placebo response and no dose effect.

Advanz Pharma has further built out its biosimilars interests by striking a deal with Alkem’s Enzene Biosciences subsidiary to develop and commercialize a rare disease treatment.

While 2024 has seen two buyouts of antibody-drug conjugate specialists with $1bn-plus price tags, the focus on ADCs has continued, accounting for almost half of recent oncology deals.