Revising the two companies’ 2017 epilepsy collaboration, Takeda will take over Phase III development and commercialization of soticlestat. Ovid gets $196m up front, and it can shift focus.

New treatments for advanced endometrial cancer and hereditary angioedema are among six drugs that have just been recommended for EU-wide approval. Harmonized EU advice has also been issued in relation to an investigational antibody combination for treating COVID-19.

Another promising British-based company, GW Pharma, has been acquired, this time by mid-sized US player Jazz. Is it a pipedream that a UK biotech could be in a position to pull off a $7bn takeover of its own or does it really not matter?

Priced at a 50% premium to GW’s value, the deal will reduce the percentage of Jazz’s drug sales coming from Xyrem, provide double-digit revenue growth and expand the R&D pipeline to 19 programs.