Novartis to buy Myricx Bio for $1.1 billion as Medicare proposes steep 340B cuts and other biotech policy updates

Novartis announced it will acquire UK‑based Myricx Bio for an upfront $1.1 billion, adding an antibody‑drug conjugate platform aimed at solid‑tumor cancers. The agreement also includes potential milestone payments of up to $400 million.

The U.S. Centers for Medicare & Medicaid Services has proposed dramatic reductions to 340B drug pricing payments, a move that could reshape how safety‑net hospitals obtain discounted medicines.

In parallel, Republican lawmakers are advancing measures to protect diversity in clinical trial enrollment, while former Surgeon General Jerome Adams is offering guidance on the emerging regulation of peptide‑based therapies.