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Rare fungus found in 200 patients in 55 UK hospitals

A rare fungus that can cause drug-resistant infections has been found in around 200 patients in more than 55 hospitals across Britain, health officials said.

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Lexicon Reports Additional Positive Data From Pivotal Phase 3 inTandem2 Study Of Sotagliflozin

Lexicon Pharmaceuticals Inc. announced additional positive data from the pivotal Phase 3 inTandem2 study of sotagliflozin, an investigational dual SGLT1 and SGLT2 inhibitor.

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Amazon’s Possible Strategy for Breaking Into the $560 Billion Pharma Market

Goldman Sachs published a 30-page report on how Amazon could break into the prescription drug market. Written by five analysts, the report points out that although Amazon has not explicitly stated it is interested in entering the prescription drug market, it has developed the secretive 1492 group, which is reportedly working on medical devices, and hired Missy Krasner, former vice president and managing director of Box’s healthcare and life sciences group to head up its pharmacy group. Box markets cloud management products and services.

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As Its CEO Retires, Cerecor Divests Depression Drug to Pharma Giant in $45 Million Deal

One day after the abrupt resignation of Chief Executive Officer Uli Hacksell, Cerecor Inc. announced that the company was divesting a drug therapy for major depressive order to Janssen Pharmaceuticals for up to $45 million.

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FDA Removes Clinical Hold on CEL-SCI Study

CEL-SCI received a letter from the U.S. FDA stating that the clinical hold that had been imposed on the company’s Phase 3 cancer study with Multikine was removed.

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Merck CEO Resigns From American Manufacturing Council

Merck & Co. CEO Kenneth Frazier resigned from a presidential manufacturing council.

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Tiny Virtual Biotech CellAct Forges $250 Million Chemo R&D Pact With Mundipharma

Germany-based CellAct struck a deal with the Mundipharma network of independent companies for its anticancer drug agent CAP7.1.

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130 Jobs Affected as Merck KGaA Relocates Accounting, Book-Keeping Team to Cut Costs

Merck KGaA, based in Darmstadt, Germany, is relocating some of its accounting and bookkeeping operations to service centers in Poland and the Philippines. The company indicates the shift is to cut costs.

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Novogen Restructures, Board to Take Pay Cuts

Novogen updated investors on the company’s strategic review of operations. On June 8, 2017, Iain Ross was appointed as chairman, which triggered the review by the board and management team.

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Ophthotech’s Wet AMD Drug Fails to Meet Primary Endpoint in Phase III Study

Three times is not the charm. New York-based Ophthotech Corporation announced that its Fovista (pegpleranib) failed yet another Phase III clinical trial.

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