Payments to Russian Middlemen and a Potential Dupixent Rival Highlight Pharma Turbulence
Four major drugmakers allegedly paid tens of millions to Russian intermediaries, while Kymera Therapeutics readies a pivotal eczema trial readout.
Good morning, everyone, and welcome to another working week. The routine of Zoom meetings and deadlines is back, and the coffee kettle is humming with cinnamon mocha.
Four big drugmakers paid tens of millions of dollars to proxies to supply lifesaving drugs to Russian government entities, according to the International Consortium of Investigative Journalists.
Whistleblower reports allege that between 2020 and 2023, Merck (MSD outside the U.S.), Eli Lilly, Novartis and AstraZeneca paid “excessive” bonuses to a company called R‑Pharm and other intermediaries in Russia.
The payments occurred even as the middlemen were involved in dubious bidding practices and faced scrutiny for alleged bid rigging or anticompetitive conduct.
Investors and doctors are intensely following an experimental therapy positioned to rival Dupixent, the top‑selling drug in immunology.
Kymera Therapeutics plans to announce data from a mid‑stage clinical trial of its lead asset, KT‑621, in eczema before the end of the year.
Analysts at Jefferies have called the pending results “one of the most impactful readouts this year” for immunology and inflammation disorders.
Success or failure could have major consequences for Kymera, its growing list of competitors, and millions of people in the U.S. who live with eczema.
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