In today's Pharmaceutical Executive Daily, Novartis agrees to acquire Excellergy for up to $2 billion to advance a next-generation anti-IgE therapy while Otsuka moves to acquire Transcend Therapeutics in a deal valued at up to $1.225 billion, the FDA approves two first-of-their-kind therapies in Novo Nordisk's once-weekly basal insulin Awiqli and Rocket Pharmaceuticals' gene therapy Kresladi for a rare pediatric immune disease, and a new commentary argues that orphan drug manufacturers should be proactively evaluating risk contracting as a hedge against an emerging downward pricing environment.