STAT+: Pharmalittle: We’re reading about a setback for Eyepoint, a win for Amylyx, and more

Eyepoint reported that its experimental treatment for age-related blindness did not meet its primary goal in a Phase 3 clinical trial, according to STAT. This setback threatened the drug's regulatory approval process and led to a decline in its stock price. Ocular Therapeutix, which intends to seek approval for a competing treatment later this year, saw its shares rise due to the news. Both companies work on drugs to preserve vision in individuals with wet age-related macular degeneration.

Novartis decided not to pursue reimbursement for Vanrafia, its newly approved treatment for a rare kidney disease, in Canada. The decision was based on the current "access environment," reported CityNews Toronto. Health Canada approval is just the beginning of a lengthy process required for drug companies before their products reach pharmacies and medicine cabinets.

According to data from the Canada Drug Agency, fewer than 50% of medicines approved by Health Canada make it to the next stage, limiting their availability through hospitals and private and public insurance.