Takeda's first-in-class orexin treatment won an FDA nod in narcolepsy. Daiichi Sankyo faced investor pushback after admitting to an accounting error. | Takeda's first-in-class orexin treatment won an FDA nod for narcolepsy. Daiichi Sankyo faced investor pushback after admitting to an accounting error. Astellas booked a new quarterly revenue record. And more.

The FDA approved a novel type of treatment for narcolepsy made by Takeda, backing a new drug class that scientists hope can be used to treat other conditions.

Takeda's Orzeyful wins FDA approval as the first full-symptom narcolepsy type 1 drug, kicking off an orexin agonist race with Lilly and Alkermes close behind.