Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma and Biotech world.Biogen is facing additional troubles as the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have issued subpoenas seeking more information. The DOJ is specifically looking into the company's overseas operations, while the SEC is investigating the launch of Biogen's now-discontinued Alzheimer's disease therapy, Aduhelm.In other news, the Federal Trade Commission (FTC) and Department of Health and Human Services (HHS) have launched a probe into the ongoing generic drug shortage. The investigation will focus on possible involvement of group purchasing organizations and drug wholesalers in exacerbating the shortage.Ipsen's Onivyde has been approved as a first-line treatment for metastatic pancreatic cancer. This marks the first new frontline treatment option in over 10 years for adults living with this type of cancer.Latigo Biotherapeutics has raised $135 million in a Series A funding round to enter the non-opioid pain medicine space. The company plans to develop its own Nav1.8 inhibitor for pain management.Bristol Myers Squibb is leading the future of protein degradation with its targeted protein degradation approach. The company aims to design next-generation degraders with precision, agility, and intention to attack disease targets.In other funding news, European-based venture capital firm Earlybird Health has closed a $186 million fund focused on cancer and neuroscience investments in biopharma. Additionally, ADC-focused ProfoundBio has raised $112 million in an oversubscribed Series B round.Brivant, a subsidiary of Roivant Sciences, has announced plans to shut down its MDS-focused division, Vant, following disappointing Phase I/II trial results.The FDA has pushed back the Prescription Drug User Fee Act (PDUFA) date for Rocket Pharmaceuticals' gene therapy for a rare blood disorder.Patients taking semaglutide have seen benefits after total hip replacement surgery, according to recent studies.In other news, Novo Nordisk has acquired Catalent's gene therapy manufacturing business for $1.2 billion.These are the top stories in the biopharmaceutical industry today.