New therapies in the wings include two candidates for Niemman-Pick disease type C, a first-in-class antipsychotic, a targeted oncology therapy under Real-Time Oncology Review, and a new drug for gastroparesis.

The recent sale of Karuna to Bristol Myers Squibb for $14bn is "a great case study for our model and a hallmark of how we create value both clinically and financially," Bharatt Chowrira told analysts on PureTech's first-half business update.

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.

Deal Snapshot: It has been a tough few months for the Swiss company since Johnson & Johnson pulled out of their epilepsy pact but long-time partner Indivior has run to its rescue and will advance a substance use disorder compound.