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Tokai Pharma Axes 60% of Workforce After Phase III Prostate Cancer Trial Failure

Following the failure of its Phase III trial of its prostate cancer drug galeterone, Boston-based Tokai Pharmaceuticals is terminating its workforce by 60 percent as part of a plan to reduce operating expenses and conduct an evaluation of options for the future of the experimental drug and the company’s pipeline.

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Seres drug for treating intestinal infection fails in study

Seres Therapeutics Inc. said its experimental drug for preventing a bacterial infection of the large intestine missed the main goal in a mid-stage study.

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How BioMarin’s Model for Super-Rare Diseases Made It a $15 Billion Powerhouse

An interesting, and occasionally disconcerting, business model has developed in a sector of the pharmaceutical industry. For certain super-rare diseases, ones where only a few thousand people are affected, there seemed to be little or no incentive for drug companies to spend millions of dollars on developing a treatment. But now there are companies focusing on the rare-disease market and developing drugs that have treatments that often range in price from hundreds of thousands of dollars to a million dollars. And for the most part, governments or payers are willing to pay the sky-high prices.

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Takeda to Now Focus on Three Therapeutic Areas

Takeda will refocus R&D on three targeted therapeutic areas – oncology, gastroenterology and CNS. Vaccines will also continue to play an important role.

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WHO chief going to the Olympics, says Zika risk low

The risk of Zika virus infections at the Olympic Games is both low and manageable, the chief of the World Health Organization said a week before the event kicks off in Rio de Janeiro.

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Sanofi 2Q sales and profit slide

Sanofi’s quarterly sales and profit fell despite double-digit growth at biotech arm Genzyme as the diabetes division came under sustained U.S. pricing pressure.

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Judge rules against nearly 1,300 lawsuits over Bayer’s Mirena IUD

A New York federal judge has ruled in favor of Bayer AG against nearly 1,300 lawsuits filed by women who say they suffered internal injuries from the company’s Mirena intra-uterine contraceptive device.

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U.S. probes contracts between Eli Lilly and PBMs

Lilly received a civil investigative demand from the U.S. attorney’s office for the southern district of New York requesting documents and info relating to PBM contracts.

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Bristol-Myers shares hit by decline of Yervoy

Bristol-Myers Squibb reported disappointing 2Q 2016 sales of its Yervoy melanoma treatment.

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Sales of Revlimid drive Celgene profit

Celgene Corp. exceeded expectations for second-quarter 2016 earnings on the strength of its flagship multiple myeloma drug Revlimid and growth in newer medicines.

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Fosun to buy KKR-backed Indian drugmaker for up to $1.3 billion

Shanghai Fosun Pharmaceutical Group Co. Ltd. has agreed to buy an 86 percent stake in Gland Pharma – backed by KKR & Co. LP – for up to $1.3 billion, the largest acquisition of an Indian company from abroad in 2016.

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Boston Scientific’s sales beat on demand for heart devices

Boston Scientific Corp. reported better-than-expected quarterly sales as it sold more of its heart devices and revenue from its troubled cardiac rhythm management business increased.

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Future Eli Lilly CEO Says Dealmaking Will Be a Focus

Beginning in 2017, drugmaker Eli Lilly will have an increased focus on dealmaking under the leadership of its incoming chief executive officer David Ricks, Reuters reported.

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AstraZeneca Kills Six Pipeline Programs

Along with its dismal half-year financial reports, UK-based AstraZeneca announced it was halting six pipeline programs.

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Lack of exercise costs world $67.5 billion and 5 million lives a year

A study of one million people has found that physical inactivity costs the global economy $67.5 billion a year in healthcare and productivity losses, but an hour a day of exercise could eliminate most of that.

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Ice Bucket Challenge credited with ALS breakthrough

The Ice Bucket Challenge that went viral two years ago – raising hundreds of millions of dollars – has helped identify a new gene behind the neurodegenerative disease ALS, or Lou Gehrig’s disease, researchers say.

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Alzheimer’s drug fails in study; some benefit seen

TauRx Pharmaceuticals’ experimental Alzheimer’s drug LMTX failed to improve cognitive and functional skills in patients with mild to moderate Alzheimer’s disease.

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Anthem vows to fight for Cigna deal; profit beats estimates

Health insurer Anthem Inc. said it was committed to its planned acquisition of Cigna Corp. and again vowed to fight U.S. government efforts to block the deal, saying the merger will help lower costs for consumers.

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IBM steps up efforts in fight against Zika

International Business Machines Corp. said it would provide its technology and resources to help track the spread of the Zika virus.

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GSK chases next biotech asthma drug with $230 million J&J deal

GlaxoSmithKline has bought global rights to an experimental drug from Johnson & Johnson for up to 175 million pounds ($230 million), raising its bet on a new generation of biotech medicines for severe asthma.

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