A PwC analysis finds biopharma aggregate deal value declined 87% during the first half compared to the second half of 2018; deal volume dropped 17%. The pandemic was a cause, but not the only factor.

Also, Osmotica licenses rights to ophthalmic drug in Japan, China and the EMEA nations to Santen; Lilly and Chi-Med revise their partnership around colorectal cancer drug Elunate.

Weeks after lifting of an FDA clinical hold, CymaBay says it will resume development of its PPAR agonist in primary biliary cholangitis. It will initiate a new Phase III trial but also use data from a terminated Phase III study.

AbbVie reported revenue growth during the second quarter, with products like Rinvoq and Skyrizi leading the charge. But Allergan, despite growth for Vraylar and Ubrelvy, pushed down overall performance.

Lilly argues the overall trend is positive, although the second quarter was down. Trial successes with Verzenio, Trulicity, Jardiance and mirikizumab offer additional growth potential.

UCB gets $120m up front from Roche for option rights to UCB0107 and retains full rights to the drug in progressive supranuclear palsy.