As demand for Wegovy busts through capacity, Biogen’s Viehbacher asks if we need to spend on drugs for weight loss or other preventable diseases when the dollar could go towards non-preventable chronic diseases. Discussing investments at a recent conference, he was joined by Fidelity’s Rajiv Kaul who said the concept of therapeutic classes is outdated

Private Company Edition: Venture capital mega-rounds of $100m or more held steady in April after a slow January and February then a surge in March, but VC fundraising is down overall this year. In recent raises, Enveda series B expanded to $119m, Vedanta brought in $106.5m and Convergent raised $90m.

A year after reducing headcount by 70%, Nektar is trimming another 60% and looking to partner out cancer candidate NKTR-255 to focus on rezpeg for atopic dermatitis, with or without Lilly’s help.

Karuna’s KarXT could be the first new mechanism for treating schizophrenia approved in more than 50 years and founder PureTech is tapping into that promise by linking up with Royalty Pharma and boosting its cashpile.