The Latest in Financial & Business News

The pharmaceutical company Merck & Co. is buying the Cambridge biotech Caraway Therapeutics.

Merck buys small Cambridge biotech for up to $610 million

Caraway Therapeutics is developing medicines to treat conditions such as Parkinson’s disease, ALS, and rare kidney diseases.

Flagship Pioneering launches new biotech with Mass., UK offices
Quotient Therapeutics, which will have offices in Mass. and the United Kingdom, wants to develop drugs that target illnesses caused by genetic changes that occur as people age.

Vertex sickle cell drug, based on novel gene-editing technology, wins approval in UK
The go-ahead comes about two weeks before the FDA is set to determine whether CRISPR and Boston-based Vertex can market the same drug in the United States, a much larger market.

The ‘bump factor’ returns to Kendall Square
Random meetings in the compact hub help to fuel the local biotech cluster — at least on Tuesdays through Thursdays.

Theseus lays off almost three-fourths of its staff
The Cambridge biotech is the latest biopharma firm in Massachusetts to slash its workforce in a prolonged industrywide shakeout that followed years of exuberant investment and growth.

EMD Serono headquarters plans to join biopharma cluster in Boston’s Seaport
The company will join more than two dozen life sciences companies, including Vertex and Eli Lilly, in the neighborhood.

FROM OUR PARTNERS

product by Studio/B. What is this?This content was produced by Boston Globe Media's Studio/B in collaboration with the advertiser. The news and editorial departments of the Boston Globe had no role in its production or display.

product by BG BRANDLAB. What is this?This content was produced by Boston Globe Media's Studio/B in collaboration with the advertiser. The news and editorial departments of the Boston Globe had no role in its production or display.

More Life Sciences Headlines

A view of Cambridge looking toward Kendall Square. Theseus Pharmaceuticals is the latest biopharma firm in Massachusetts to slash its workforce in a prolonged industrywide shakeout.

Theseus lays off almost three-fourths of its staff

The Cambridge biotech is the latest biopharma firm in Massachusetts to slash its workforce in a prolonged industrywide shakeout that followed years of exuberant investment and growth. 3:59 p.m.

EMD Serono is moving its headquarters from Rockland to the Seaport District, joining a growing biotech cluster.

EMD Serono headquarters plans to join biopharma cluster in Boston’s Seaport

The company will join more than two dozen life sciences companies, including Vertex and Eli Lilly, in the neighborhood. 12:33 p.m.

A view of the life sciences building being constructed at 66 Galen Street in Watertown on Sept. 21, 2022. As vacancy rates in the area's lab space continue to rise, Watertown may be well suited for a recovery down the line, said Jeffrey Myers, a research director at real estate firm Colliers.

Vacancy in Boston-area lab space climbs to 10-year high

A wave of projects that launched construction a few years ago when inventory was tight are now opening into a market that suddenly has little need for them. 4:12 p.m.

kara miller | the big idea

Passengers waited for a Red Line train to roll to a stop in the Kendall station.

‘You can’t cure cancer when you’re sitting in traffic’: The MBTA poses a problem for Mass. competitiveness

For a state itching to herald its technological prowess, workers’ inability to quickly get to offices, labs, hospitals, and universities has become an issue of competitiveness. 8:16 a.m.

Dr. Lisa Menninger was awarded a $24 million judgment in her lawsuit against her former employer, PPD (now owned by Thermo Fisher).

Judge upholds $24 million verdict against Thermo Fisher subsidiary that discriminated against worker with anxiety

US District Court Judge Leo T. Sorokin acknowledged that the sum was “remarkable” but said he had no reason to question it. 5:38 a.m.

Biogen headquarters in Cambridge, Massachusetts, on June 7, 2021.

Biogen lowers 2023 profit outlook on costs of Reata purchase

Cambridge-based Biogen is cutting costs while broadening its focus to replace declining revenue from multiple sclerosis therapies, which made up more than half the drugmaker’s 2022 sales. 10:13 a.m.

Moderna shares sink as company forecasts 2024 sales decline

The Cambridge-based vaccine maker sees revenue falling to about $4 billion next year, with sales growth resuming in 2025 as new vaccines hit the market. 9:26 a.m.

About a dozen people who have sickle sickle cell disease or relatives with the debilitating blood disorder implored the Food and Drug Administration on Tuesday to approve a revolutionary gene editing treatment — created by CRISPR Therapeutics and Boston-based Vertex Pharmaceuticals — that those who received it in a clinical trial said transformed their lives.

Patients with sickle cell disease urge FDA to greenlight landmark gene-editing treatment

The treatment is administered with a single infusion and was created by Boston-based Vertex Pharmaceuticals and CRISPR Therapeutics, which has most of its employees in Mass. 6:18 p.m.