Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma e Biotech world.Several developments in the biopharma industry were reported on March 6. Gilead made a bet on 'trispecifics' in a new cancer drug deal, Alumis secured $259 million for its work on a drug targeting Tyk2, Regenxbio's data showed promise in Duchenne gene therapy, Alnylam and Roche's blood pressure drug performed well in a mid-stage trial, and Sionna raised $182 million to challenge Vertex in cystic fibrosis treatment. The sector saw a surge in biotech IPOs at the beginning of 2024, prompting discussions on whether this trend will continue. The biosimilars market in the US has been growing steadily since its slow start in 2015. Additionally, Brazil declared a state of emergency due to dengue cases, AstraZeneca invested in the UK for pandemic preparedness, and companies rushed to preserve skeletal muscle after the success of obesity drugs.Dexcom has received FDA approval for the first over-the-counter continuous glucose monitor for people with type 2 diabetes. Vicarious continues to focus on launching its soft tissue robot despite financial struggles. Smiths Medical has recalled nearly 86,000 syringe pumps due to a software issue. Haemonetics is set to acquire Attune Medical for $160 million. Medtronic estimates up to 40 job losses in Ireland as part of restructuring efforts. The EU Medical Device Regulation is causing challenges for small and medium-sized medtech companies. Other news includes Philips being sued for milestone payments, a dentistry AI developer receiving a $53 million investment, and CMS rolling out provider flexibilities amid cyberattack fallout.Alumis has raised $259 million in a Series C funding round, making it the largest haul in 2024 for a private biotech company. The California-based biotech plans to use the funding to move its tyk2 inhibitor into phase III for plaque psoriasis, potentially challenging competitors Bristol Myers Squibb and Takeda in the autoimmune market. Other key focuses for investors in 2024 include psychedelics and solid tumors. Sandoz has received FDA approvals for the first two biosimilars for Amgen's denosumab, while Sionna Therapeutics has closed a $182 million Series C round to potentially challenge Vertex Pharmaceuticals in the cystic fibrosis market. Overall, experts anticipate increased interest in the autoimmune and obesity spaces this year, following a trend of heightened investment in oncology and neuroscience in 2023.In 2024, investors are expected to focus on psychedelics, solid tumors, autoimmune, and obesity drugs in the biopharma industry. Pfizer's decision to prioritize biologics over small molecules was influenced by the Inflation Reduction Act (IRA). Researchers suggest that the IRA could potentially discourage drug developers from pursuing subsequent indications for existing drugs, leading to a decrease in new drug approvals. Biopharma mergers and acquisitions are on the rise, with Biospace launching an M&A tracker to keep track of industry transactions. The 10th Annual American Biomanufacturing Summit is set to bring together industry leaders to discuss current trends and best practices. In other news, AstraZeneca lost a court case related to the IRA, the ADC market in oncology is expected to reach $30 billion by 2028, and various biopharma companies have secured substantial funding for drug development. Pfizer is focusing on four main cancer types and aims to launch eight blockbuster drugs by 2030.