Good Day BIO: News from Mexico and JPM

Today, we have a readout from the North American Leaders’ Summit and what BIO said about Mexico’s plans to ban biotech corn, plus news from JPM and Capitol Hill. (730 words, 3 minutes, 39 seconds)

USMCA has trade rules – let's stick to them, says BIO

As President Biden attends the North American Leaders’ Summit in Mexico, BIO and a group of agriculture-related associations yesterday called on North America’s three largest governments to adhere to the principles of the U.S.-Mexico-Canada Agreement (USMCA).

Why it matters: “Mexico, the United States, and Canada have the largest trilateral agricultural trade relationship in the world, positioning North America as a critical region for sustaining global food security,” says the statement.

A lot of positives: Trade pacts helped increase the value of North American agricultural trade from $7.7 billion in 1994 to $67.1 billion in 2021, a 769.7% increase.

A big negative: Mexico has been discussing phasing out purchases of biotech corn as of next year. “We urge expeditious resolution of agriculture-related trade disputes and irritants, particularly including Mexico’s proposed ban on some uses of biotech corn,” the statement says.

The U.S. is willing to legally dispute the proposed ban, based on USMCA rules, U.S. Agriculture Secretary Tom Vilsack told the Mexican President, according to Agri-Pulse .

No compromise: Mexico proposed amendments to the planned ban last month, and Vilsack said in a press conference yesterday that there would be no compromises when he responds to those proposals by Jan. 15, according to Progressive Farmer. 

BIO agrees: “USMCA’s enhanced provisions for agricultural biotechnology set it apart from previous trade agreements,” says Beth Ellikidis, BIO VP of Agriculture & Environment. “We are hopeful that the discussions taking place this week in Mexico City will affirm the importance of agricultural innovation.”

What’s happening at JPM (and how you can get in on the partnering action)

This week is the 41st J.P. Morgan Healthcare Conference (a.k.a. JPM) in San Francisco—here’s what’s happening and how BIO is helping attendees meet potential partners. 

A busy year for mergers: After limited dealmaking during the past few years, the 2023 JPM is off to a roaring start, notes Biopharma Dive. A few deals to note:

• BIO member Chiesi Farmaceutici will acquire rare disease specialist Amryt Pharma for $1.25 billion.
• AstraZeneca is buyingCinCor Pharma, a hypertension and kidney disease specialist, for $1.3 billion.
• Ipsen will pay $952 million to acquire Albireo, accelerating growth in rare disease research with treatments for several pediatric liver diseases.

Why it matters: These three announcements “suggest an uptick in M&A activity that began in the second half of last year could stick around,” explains Biopharma Dive.

“The next wave of innovation is right around the corner,” said BIO member Vertex Pharmaceuticals CEO Reshma Kewalramani, per Fierce Pharma. As one example, Moderna announced a flurry of mRNA advances.

BIO’s making partnerships happen, bringing the BIO One-on-One Partnering platform to JPM, where potential partners can meet in person in the dedicated BIO meeting space (which we hear has been packed) or online. 

Don’t miss your next chance for partnering on the East Coast: The BIO CEO & Investor Conference will take place in New York from February 6-9, and BIO One-on-One Partnering will drive partnering there, too. 

Register now for the BIO CEO & Investor Conference.

More Health News:

Novavax: Novavax Names John C. Jacobs as New President & Chief Executive Officer
“Jacobs…will join Novavax from Harmony Biosciences, where he has served as President and Chief Executive Officer and a member of the Board of Directors since June 2018.” Current CEO Stanley C. Erck will serve as an advisor for the next 15 months. 

Ocugen: Ocugen announces positive top-line data for COVID-19 vaccine candidate
BIO member Ocugen “announced positive results from the Phase 2/3, observer-blind, immuno-bridging and broadening study of its COVID-19 vaccine candidate, COVAXIN™ (BBV152; Clinicaltrials.gov, NCT05258669), a whole-virion inactivated COVID-19 investigational vaccine candidate that uses the same vero cell manufacturing platform that has been used in the production of polio vaccines for decades.”

President Biden’s Tuesday: Continuing meetings at the North American Leaders’ Summit in Mexico, where Biden and his Mexican counterpart yesterday “reaffirmed their commitment to the United States-Mexico-Canada Agreement as the foundation for North American competitiveness and the basis for economic prosperity and social development,” according to the White House. 

What’s Happening on Capitol Hill: Rep. Jason Smith (R-MO) is likely to lead the House Ways and Means Committee, which has a big impact on health spending. Rep. Smith has advocated expanding access to telehealth and psychology through Medicare and opposed President Biden’s vaccine mandates, POLITICO says. There are concerns that the GOP’s Freedom Caucus could delay approval of the Farm Bill in the House, according to POLITICO.