Hello, everyone, and welcome to the middle of the week. Congratulations on making it this far. It is an accomplishment, after all. The next step is to … keep going. And why not? Just consider the alternatives. On that optimistic note, please join us for a needed cup of stimulation. Our choice today is orange creme. Meanwhile, here are some items of interest to get you going. We hope you have a meaningful and productive day, and conquer the world. Best of luck…
Activist investor Shah Capital plans to vote against the re-election of board nominees and the executive compensation package at Novavax’s upcoming annual meeting, renewing pressure for changes at the vaccine maker, Reuters writes. In a letter to the company, hedge fund founder Himanshu Shah said management has failed to implement aggressive cost-cutting measures and urged leadership to reduce costs and opportunistically buy back 10 million to 20 million shares. Shah Capital, which owns 9% of Novavax and is its second-largest shareholder, has been pushing the board to pursue strategic changes, including a potential sale. The firm wants a like-minded strategic long-term investor to take a 10% to 20% ownership stake to reshape the company. In its letter, the firm said a partnership with Sanofi has not benefited Novavax.
The U.S. Food and Drug Administration is seeking new powers to hold companies accountable for misleading direct-to-consumer ads, adding legislative weight to its pushback against deceptive drug advertising, Fierce Pharma explains. Last year, President Trump ordered the agency to ensure companies provide balanced information on the benefits and risks of drugs in DTC ads. Days later, the agency published letters alleging violations of federal pharma marketing rules by companies including Bristol Myers Squibb, Eli Lilly and Novartis. The FDA has continued to send letters to companies accused of breaking the rules. Now, the FDA has included its 2027 budget proposal to request new powers to regulate DTC ads. The agency said it “needs additional authorities to more effectively address DTC advertising that lacks fair balance and is frequently misleading and confusing to consumers and patients.”Continue to STAT+ to read the full story…