Friday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.
Lilly aims to control proteins in new partnership
Lilly is helping fund a Massachusetts biotech firm that is working to discover proteins.
Merck is joining. Lilly is helping to pay for work and research at Photys Therapeutics.
The scientists are trying to to develop a new class of drugs that can chemically modify proteins to change their function. Although the drugs may be years away from clinical testing, if the approach works, it will have broad implications for many diseases.
FDA approves new anti-wrinkle drug “Daxxify”
The food and drug administration has approved a new wrinkle-erasing treatment that could be a serious competitor to Botox.
Revance Therapeutics’s Daxxify is a Botox alternative that reportedly keeps skin from sagging for a much longer period of time. It’s expected to reach $1B in sales by 2030, according to Cowen.
Kroger aims for 70% cage-free eggs by 2030
Kroger aims to sell 70% cage-free eggs by 2030.
Kroger has partnered with Kipster Farms, the innovative egg production system founded in the Netherlands to bring the world’s first carbon-neutral, cage-free shell eggs to customers in the U.S. in 2023.
74% of colleges hiked tuition
U.S. colleges are hiking tuition and fees. A business journals analysis found among 1,700 4-year colleges, roughly 74% hiked prices in the recently completed academic year.
Some were by 5% or more since 2020, according to department of education data.
The schools blame inflation for the price increases.