Public Company Edition: J&J’s consumer health spinout Kenvue grossed $3.8bn in its public market debut and Acelyrin raised $540m in an upsized IPO. Also, Seres accessed $250m in new debt for Vowst commercialization while follow-on offerings raised $325m for ImmunoGen and $240m for Morphic. 

In first Rx advertising research project of 2023, FDA will survey consumers on how they interpret quantitative claims in DTC ads. Lilly questions design of another study examining relative importance of product information, citing FDA comments at tanezumab advisory committee.

National Advertising Division refers Gilead’s challenge of ViiV’s advertisements to the FDA and FTC after ViiV declines to participate in its review. Gilead says the ads claim Dovato is superior to its HIV drug Biktarvy, while ViiV suggests a review would amount to second-guessing the FDA.

Public Company Edition: With the XBI up more than 9% in April, a few follow-on offerings –$23m to support Gamida Cell’s small product launch and $500m to fund Vaxcyte’s large clinical trial program – have made it to market. Also, China’s CytoMed launched the sixth biopharma IPO in the US this year.