Amgen moves into the chimeric antigen receptor T-cell space in cancer under a complex partnership with Kite Pharma. Gilead, Isis and Janssen agree to multiple deals during and after the holiday season, while scuttled deals return assets or rights to Vanda, AMAG and OncoGenex.

The largest shareholder in major Japanese pharma firm Taisho, the founding Uehara family, intends to smooth the way to the restructuring and expansion of the business by acquiring and delisting all of its stock. The nearly $5bn size of the deal would makes it the biggest management buyout in Japanese corporate history.

Biden administration’s new framework will consider whether a product’s price is reasonable in deciding whether to exercise march-in rights. Numerous other factors could limit provision’s impact, but industry is concerned it will discourage firms from licensing government-funded inventions.