Public Company Edition: Verona Pharma arranged up to $400m in new debt and up to $250m in revenue-related financing ahead of its COPD drug launch. Also, Organon, Sobi and Pacira priced $1bn, $275.1m and $250m note sales, respectively. Marinus, Emergent and Ginkgo cut jobs.

As Astellas pivots through several candidates in an attempt to create its next blockbuster, a decision to terminate its only prospect in the core mitochondrial R&D area leaves very few other competitors in the market.

On the heels of a decade-long partnership with ViiV Healthcare that has helped 24 million people with HIV, the Medicines Patent Pool introduces a new version of its patent database for essential medicines and COVID-19 vaccines.

Incyte will pay $750m to acquire privately held Escient and its first-in-class oral antagonists of Mas-related G protein-coupled receptors X2 and X4.