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The Pulse of the Pharmaceutical Industry

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Teva’s Job Cuts Hit 208 Philadelphia Employees

Cuts implemented by Israel-based Teva Pharmaceutical hit the shores of the United States. The company is laying off 208 people in the Philadelphia area.

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Celgene to Create Biopharma Incubator on New Jersey R&D Site

Fresh off its $7 billion acquisition of San Diego-based Impact Biomedicines and its JAK inhibitor program targeting myelofibrosis, Celgene is planning to open a biopharma incubator on its corporate campus in New Jersey.

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5 Healthcare Systems Launching Generics Company

The U.S. Department of Veterans Affairs and Intermountain Healthcare, Ascension, SSM Health and Trinity Health are forming a not-for-profit generic drug company.

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Homology Inks Deal for New Massachusetts HQ

Backed by financing from a collaboration with Novartis and an $83 million financing round, Homology Medicines is moving to a new facility with more than triple the space of its headquarters.

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U.S. court invalidates patent on J&J cancer drug Zytiga

A U.S. administrative court invalidated a Johnson & Johnson patent on its blockbuster prostate cancer drug Zytiga, bringing rivals closer to selling generic versions.

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Juno Explodes on Celgene Takeover Rumors

Rumors that Celgene Corporation is in talks to acquire Juno Therapeutics caused Juno’s stock to rocket more than 50 percent to $68.80 in premarket trading.

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Biggest Winners and Losers of JPM 2018

Some analysts have picked “winners and losers” from the 2018 J.P. Morgan Healthcare Conference. CNBC’s Jim Cramer made his picks related to stock performance.

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New Biotech Hub Emerging in Bay Area

It’s no secret the Bay Area has been a stronghold of biotech innovation. Now it appears the area is about to get stronger as more space for pharma and biotech companies will soon be available down the Peninsula south of San Francisco in the city of San Carlos.

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Rigel Pharma Awaits FDA Approval for Tavalisse, Builds Commercial Org for Drug Launch

The first half of 2018 will be pivotal for Bay Area-based Rigel Pharmaceuticals Inc. as the company awaits regulatory approval for its rare blood disorder drug and builds out the internal infrastructure to commercialize the product.

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Ironshore Laid Off Staff, Quietly Closed Down

Almost one year after filing a New Drug Application for an ADHD drug and less than one year after announcing it secured $200 million in financing, Ironshore Pharmaceuticals closed its doors.

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Nuvo Acquires Product Rights from Piedmont

Nuvo Pharmaceuticals acquired the U.S. rights to Resultz head lice treatment from Piedmont Pharmaceuticals.

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Google venture arm backs UK universal flu vaccine company

A private British company is developing a vaccine that would be the first in the world to fight all types of flu.

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Eli Lilly on the Hunt for Cancer Deals to Beef Up Pipeline

In terms of acquisitions, the company is looking to expand its immunology pipeline as well as oncology.

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Philips to Move North American HQ

Netherlands-based health tech company Royal Philips will move its North American headquarters to Cambridge, Mass. from Andover, Mass. by 2020.

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Drugmakers see a pricing blueprint in an $850,000 gene therapy

Global drugmakers are looking to a tiny biotech’s $850,000 therapy for a rare type of blindness as a model for getting paid for highly expensive – and effective – new medicines.

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Medtronic to Restructure, Unknown Number of Employees Impacted

Medtronic announced a restructuring initiative that could save the company $3 billion over several years and impact an unknown number of jobs.

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Four Major Biopharmas: What Went Down at JPM 2018

The J.P. Morgan Healthcare Conference is a yearly opportunity for the biopharma industry to make major announcements and allow analysts, investors and the media pick the brains of top execs. Here is a look at what four of the top big biopharma companies shared at the meeting.

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Novartis Lands New Oncology Head

Novartis hired Elizabeth Barrett, Pfizer’s head of oncology, to replace Bruno Strigini, the chief executive officer of Novartis Oncology who retired at the end of 2017.

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Teva Board Members Take 50 Percent Pay Cut

Teva Pharmaceutical Industries’ board of directors agreed to take a 50 percent pay cut.

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U.S. subpoenas Endo for info on opioid painkillers

Endo International received a grand jury subpoena from federal prosecutors in Miami seeking documents related to drugs it produces that contain oxymorphone.

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