Health News Roundup: Cash-rich BioNTech plans to spend about $1 billion more on research this year; Novartis buoyed by trial success in early-stage breast cancer and more

Amgen is appealing a lower court's ruling that invalidated two of its patents on Repatha, a drug that can reduce risk of heart attack and stroke in people with heart disease, after a legal fight with French drugmaker Sanofi and its partner Regeneron Pharmaceuticals Inc. CVS expects to close $8 billion Signify deal this week CVS Health Corp said on Monday it expects to complete its acquisition of healthcare services company Signify Health this week, subject to certain conditions, potentially ending months of antitrust scrutiny on the $8 billion deal.

Following is a summary of current health news briefs.

Cash-rich BioNTech plans to spend about $1 billion more on research this year

BioNTech plans to spend up to about 1 billion euros ($1.1 billion) more on research and development and buy back up to $500 million more of its shares this year, drawing on more than 21 billion euros from the now waning commercial success of its COVID-19 vaccine. In a statement on Monday, Germany's BioNTech, Pfizer's partner on the Comirnaty vaccine, said it plans to spend 2.4 to 2.6 billion euros on research and development (R&D) in 2023, up from 1.54 billion euros last year.

"We plan to continue investing in our transformation with a focus on building commercial capabilities in oncology and working towards registrational trials," said Chief Executive and Co-Founder Ugur Sahin.

Novartis buoyed by trial success in early-stage breast cancer

Novartis's Kisqali breast cancer drug cut the risk of recurrence in women who were diagnosed at an early stage of the disease in a pivotal trial, providing a confidence boost for the drugmaker's growth prospects. The Swiss firm's shares jumped 5.8% on Monday to a four-week high by 0734 GMT, after it said a panel of independent supervisors recommended stopping the trial early because an interim analysis had shown a clear benefit.

Cash-strapped biotech firm Codiak files for bankruptcy protection

Codiak BioSciences Inc said on Monday it has filed for U.S. bankruptcy protection in the latest blow to the struggling drug developer's ambitions of making a COVID-19 vaccine. The Chapter 11 bankruptcy filing ends months of investor uncertainty after the company, which has been facing a cash crunch, raised going concern doubts in its latest filing and cut its workforce by 37% last year.

Musk's brain implant company in search of human trials partner

Elon Musk's brain implant company Neuralink has approached one of the biggest U.S. neurosurgery centers as a potential clinical trials partner as it prepares to test its devices on humans once regulators allow for it, according to six people familiar with the matter. Neuralink has been developing brain implants since 2016 it hopes will eventually be a cure for intractable conditions such as paralysis and blindness.

Amgen bid to revive cholesterol drug patents comes to U.S. Supreme Court

The U.S. Supreme Court on Monday is set to hear a bid by Amgen Inc to revive patents on its cholesterol-lowering drug Repatha in a legal effort that rival Sanofi SA called a "blatant attempt" to squeeze competitors out of the market. Amgen is appealing a lower court's ruling that invalidated two of its patents on Repatha, a drug that can reduce risk of heart attack and stroke in people with heart disease, after a legal fight with French drugmaker Sanofi and its partner Regeneron Pharmaceuticals Inc.

CVS expects to close $8 billion Signify deal this week

CVS Health Corp said on Monday it expects to complete its acquisition of healthcare services company Signify Health this week, subject to certain conditions, potentially ending months of antitrust scrutiny on the $8 billion deal. CVS' potential acquisitions of two healthcare service providers Signify and Oak Street Health, along with other such deals, have been facing increasing scrutiny over their impact on cost of healthcare in the United States.

(With inputs from agencies.)