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Israel’s Protalix to Slash 20 Percent of Workforce

Share prices for Protalix Biotherapeutics were up more than 3 percent this morning after the company reported positive results from its Phase I/II open label extension trial of pegunigalsidase alfa, PRX-102, for the treatment of Fabry disease. Despite that positive news on its pipeline, Protalix is reportedly set to terminate 50 employees, which amounts to about 20 percent of its workforce.

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Cochlear obtains FDA approval for first remote programming option for cochlear implants

Cochlear Limited received U.S. Food and Drug Administration approval for the first remote feature to allow follow-up programming sessions for the Nucleus Cochlear Implant System through a telemedicine platform.

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Biogen boosts multiple sclerosis holding with Alkermes license

Biogen Inc. licensed Alkermes Plc’s multiple sclerosis drug, further boosting its position in the race for the next treatment amid slowing sales of its own flagship MS drug Tecfidera.

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Teva Announces New Organization Structure

Teva Pharmaceutical Industries announced a new organization and leadership structure aimed to achieve better commercial focus and drive value creation.

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Regeneron drops eye-drug combination as Novartis chases Eylea

Regeneron Pharmaceuticals is dropping plans to develop a new eye drug combination, marking a setback for the U.S. biotech company as Swiss rival Novartis seeks to snatch sales from its existing Eylea medicine.

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Bayer pharma head: No pipeline problem

Bayer is seeking to defend its pharmaceuticals business that will be diluted in importance by the takeover of Monsanto.

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Cambridge’s Ensemble Therapeutics Quietly Shuts Down After 13 Years

The Boston Business Journal first reported that Ensemble Therapeutics has shut its doors for good. Focused on developing small molecule therapies for cancer and other disease, Ensemble Therapeutics quietly closed up shop after 13 years.

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FDA approves first implanted lens that can be adjusted after cataract surgery to improve vision without eyeglasses in some patients

The U.S. Food and Drug Administration approved the RxSight Inc. Light Adjustable Lens and Light Delivery Device, the first medical device system that can make small adjustments to the artificial lens’ power after cataract surgery so that the patient will have better vision when not using glasses.

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Pfizer and Genentech Duke it Out in Court over Herceptin Biosimilar Patents

Roche company Genentech is suing Pfizer in a federal court in Wilmington, Delaware, over Pfizer’s biosimilar for Genentech’s Herceptin. Genentech claims that Pfizer’s proposed biosimilar infringes 40 of its patents.

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Opioid crisis cost U.S. $504 billion in 2015

Opioid drug abuse cost the U.S. economy as much as $504 billion in 2015, White House economists said in a report.

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