Almost 80% of novel agent submissions from the biggest companies were approved in recent years, compared with a 60% approval rate for the rest of the industry, according to a Pink Sheet analysis of FDA approval decisions since 2021.

A direct marketing authorization application to the UK medicines regulator offered a quicker route to approval for Novartis’ prostate cancer treatment Pluvicto than following the international Access Consortium process, because of the novel nature of the therapy, according to the company.

The market for new company creation in the biopharma sector remains healthy and poised to continue fostering the establishment of start-ups, based on a new In Vivo study of the strong initial investments that pharma and biotech companies receive.

"We have big plans," oncology president Susanne Schaffert said in an interview about launching Pluvicto, its new radioligand therapy for prostate cancer.