Global Briefs: Galderma, Alkermes, Regeneron, Takeda & More
A roundup of news from Galderma, Alkermes/Avadel Pharmaceuticals, Regeneron/Celltrion, Takeda/Innovent Biologics, Takeda/Nabla Bio, Daiichi Sankyo/Bio Med X, Bio Med X/Gates Foundation, and Galapagos. Highlights below.
Mfg News
* Dermatology Pharma Company Galderma Investing $650 M To Increase US Mfg
M&A News
* Alkermes To Acquire Avadel Pharmaceuticals in $2.1-Bn Deal
Partnering News
* Takeda, Innovent Biologics in $1.2-Bn Oncology Drug Pact
* Takeda, Nabla Bio in $1-Bn AI-Drug Discovery Pact
* Daiichi Sankyo, Bio Med X Partner for Bispecific Antibody Research
* Bio Med X, Gates Foundation Partner for Women’s Health
Restructuring
* Galapagos Winding Down Cell-Therapy Business
General
* Regeneron, Celltrion Reach Settlement on Biosimilar of Eylea
Mfg News
Dermatology Company Galderma Investing $650 M To Increase US Mfg
Galderma, a bio/pharmaceutical company focused on dermatology, has announced that it will spend more than $650 million on US manufacturing through 2030. The company made the announcement as part of its third-quarter 2025 earnings release.
The investment includes ramping up final assembly and packaging via a contract manufacturing partner at a site in Florida for the company’s Nemluvio (nemolizumab-ilto) for treating moderate-to-severe eczema, as well as the manufacturing of its Alastin skincare products and select Cetaphil skincare products via contract manufacturing partners. Galderma and its manufacturing partners have initiated additional technology transfers to the US, which are focused on key growth drivers, including securing double-sourcing US capacity for Relfydess (relabotulinumtoxinA) for treating the appearance of moderate-to-severe glabellar lines (frown lines).
In addition, in June 2025, the company announced that it had established a new US headquarters in Miami, Florida. The company expects to have approximately 150 employees, including US leadership roles, based there by 2028.
Source: Galderma
M&A News
Alkermes To Acquire Avadel Pharmaceuticals in $2.1-Bn Deal
Alkermes, a Dublin, Ireland-based bio/pharmaceutical company, has agreed to acquire Avadel Pharmaceuticals, a Dublin, Ireland-based bio/pharmaceutical company, in a deal worth up to $2.1 billion.
With the acquisition, Alkermes gains Avadel’s FDA-approved product, Lumryz (sodium oxybate) for the treatment of cataplexy (sudden, brief muscular weakness caused by certain triggers) or excessive daytime sleepiness in patients over seven years of age with narcolepsy.
Under the agreement, Alkermes will acquire all outstanding ordinary shares of Avadel for $18.50 per share, payable in cash at closing. In addition, Alkermes will provide Avadel shareholders with a non-transferable contingent value right entitling holders to a potential additional cash payment of $1.50 per share, contingent upon final FDA approval of Lumryz for the treatment of idiopathic hypersomnia (a sleep disorder characterized by excessive daytime sleepiness) in adults by the end of 2028. Taken together, this potential per share acquisition price represents an equity value of approximately $2.1 billion.
The transaction, which has been approved by the Boards of Directors of both Alkermes and Avadel, is expected to close in the first quarter of 2026, subject to closing conditions, including certain regulatory approvals and approvals by Avadel’s shareholders.
Source: Alkermes
Partnering News
Takeda, Innovent Biologics in $1.2-Bn Oncology Drug Pact
Takeda has entered into a license and collaboration agreement with Innovent Biologics, a Shanghai-based bio/pharmaceutical company, for the development, manufacturing, and commercialization worldwide outside of Greater China of two late-stage oncology medicines by Innovent Biologics, IBI363 and IBI343, in a deal worth $1.2 billion.
IBI363 is a late-stage bispecific antibody fusion protein being evaluated in non-small cell lung and colorectal cancers, with potential in additional solid tumor types. IBI343 is a late-stage antibody-drug conjugate (ADC), being evaluated in gastric and pancreatic cancers. Takeda will also receive an exclusive option to license global rights outside of Greater China for IBI3001, a bispecific ADC being evaluated in an ongoing Phase I clinical trial in patients with locally advanced or metastatic solid tumors. As part of the agreement, Innovent will be solely responsible for clinical development of IBI3001 prior to potential exercise of the option to license. Should Takeda exercise the option, Takeda will develop, manufacture and commercialize IBI3001 worldwide, outside of Greater China.
Innovent will receive a $1.2-billion upfront payment upon closing of the transaction, which includes an equity investment of $100 million in Innovent by Takeda. Innovent will also be eligible for potential milestones and royalty payments, and a profit or loss split 60/40 (Takeda/Innovent) solely with respect to IBI363 in the US, where Takeda will lead the commercialization effort while Innovent will have a co-commercialization right.
If Takeda exercises the option for IBI3001, Innovent will be eligible for an option exercise fee and additional potential milestone and royalty payments. The transaction, including any future exercise of the option, is subject to customary closing conditions, including regulatory approvals.
Source: Takeda
Takeda, Nabla Bio in $1-Bn AI-Drug Discovery Pact
Takeda and Nabla Bio, a Cambridge, Massachusetts-based company specializing in drug discovery and design, have entered a new, multi-year research collaboration, in a deal worth up to $1 billion.
This is the second collaboration between the companies and will use Nabla Bio’s proprietary biomolecular design platform, Joint Atomic Model (JAM), across Takeda’s early-stage development programs. This new collaboration will include, but is not limited to, de novo design of antibodies in parallel for multiple targets, multi-specifics, challenging targets, and other custom therapeutics.
Under the agreement, Nabla Bio will receive double-digit millions in upfront and research cost payments and is eligible to receive success-based payments that may exceed $1 billion in total.
Source: Nable Bio
Daiichi Sankyo, Bio Med X Partner for Bispecific Antibody Research
Daiichi Sankyo and BioMed X, an independent research institute, have entered an agreement under which BioMed X started a new research team at the BioMed X Institute in Heidelberg, Germany, for multi-specific biologics in immuno-oncology with the Daiichi Sankyo Research Institute in Munich, Germany. The new project will explore next-generation biologics as a potential strategy to transform how solid tumors are treated.
BioMed X operates sites in Heidelberg, Germany, New Haven, Connecticut, XSeed Labs in Ridgefield, Connecticut, and a worldwide network of partner locations. It operates at the interface between academia and industry by providing biomedical research, drug discovery and drug development in the fields of oncology, immunology, neuroscience, women’s health, cardiometabolic diseases, platform technologies, and artificial intelligence.
The new research team will join five other groups at the BioMed X Institute in Heidelberg, Germany, as well as two international teams: one at the BioMed X Institute in New Haven, Connecticut, and another at BioMed X’s XSeed Labs in Ridgefield, Connecticut, an innovation accelerator located on the campus of Boehringer Ingelheim in the US.
Source: BioMed X
Bio Med X, Gates Foundation Partner for Women’s Health
BioMed X, an independent research institute, has announced the launch of XFem Labs, a new Women’s Health R&D Accelerator in Heidelberg, Germany. The purpose of this initiative, which is supported by the Gates Foundation, is to establish a women’s health innovation hub that advances early-stage research into scalable solutions for women globally, including low- and middle-income countries. This first XFem Labs project is made possible with a $2-million grant and network support from the Gates Foundation.
Source: Bio Med X
Restructuring
Galapagos Winding Down Cell-Therapy Business
Galapagos, a Mechelen, Belgium-based bio/pharmaceutical company, has announced its intention to wind down its cell-therapy business and pursue new business development transactions with its available cash resources. The intention to wind down follows a review of strategic alternatives, including a potential divestiture of the business.
The intention to wind down the cell-therapy business was unanimously approved by the company’s Board, other than the two directors appointed by Gilead Sciences, both of whom recused themselves from the vote. In 2019, Gilead Sciences and Galapagos formed a global research and development collaboration, which included Gilead taking an equity stake in the company. Galapagos’ intention to wind down its cell-therapy business is subject to the conclusion of consultations with works councils in Belgium and the Netherlands, during which Galapagos will continue to operate the business.
In the event that the Board would effectively proceed with a full wind-down decision, the company would expect to incur the following spend related to the cell-therapy business: EUR 100 million ($116 million) to EUR 125 million ($145 million) of operating costs from the fourth quarter of 2025 through 2026 and EUR 150 million ($174 million) to EUR 200 million ($232 million) of one-time restructuring costs in 2026.
Source: Galapagos
General
Regeneron, Celltrion Reach Settlement on Biosimilar of Eylea
Regeneron Pharmaceutical, a Tarrytown, New York-based bio/pharmaceutical company and Celltrion, an Incheon, South Korea-based bio/pharmaceutical company, have reached a resolution of their patent infringement litigation related to Celltrion’s biosimilar referencing Regeneron’ Eylea (aflibercept) injection 2 mg. Earlier this month (October 2025), Celltrion received FDA approval for its biosimilar, Eydenzelt, for treating neovascular (wet) age-related macular degeneration, macular edema following retinal vein occlusion, diabetic macular edema and diabetic retinopathy.
The settlement allows Celltrion to launch its biosimilar product in the US on December 31, 2026. All intellectual property-related litigation in the US with Celltrion will be dismissed. The financial and other terms of the agreement are confidential.
Source: Regeneron
