Public Company Edition: Galderma proposed pricing for its $2.6bn Swiss public market debut. Also, Apogee and Akero lead follow-on offerings with $483m and $366.9m, respectively, and Lexicon’s private placement brings in $250m, while Spruce reveals a 21% workforce reduction.

Drug launches in 2023 included some groundbreaking innovations, but that didn’t necessarily translate to quick commercial success.

In 2024, Viatris will initiate the second phase of its long-term business plan, which will see it step away from the perceived volatility of the generics space and begin to move toward innovative and high-growth products. The past year has seen it lay the groundwork for this pivot, shedding surplus business units and making significant hires from the branded space.

The company reported positive data from two Phase IIIb trials testing RelabotulinumtoxinA and said it hopes to refile a BLA for the aesthetic dermatology product soon.