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Vertex Poised to Become Profitable Following Expected FDA Approval of Orkambi

June 30, 2015By Alex Keown and Riley McDermid, Breaking News Staff BOSTON – Vertex Pharmaceuticals (VRTX) is anxiously waiting for regulatory approval of its newest cystic fibrosis medication Orkambi, a treatment which is widely expected to have a broad impact on the cystic fibrosis market – and a treatment widely expected to sharply boost […]

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AMAG Coughs Up $700 Million for Stem Cell Company

Waltham, Mass.-based AMAG Pharmaceuticals, Inc. (AMAG) announced today that it will acquire Cord Blood Registry (CBR) for $700 million. Last year, in November, AMAG acquired Lumara Health Inc., a specialty pharmaceutical company focused on maternal health. That deal had an upfront consideration of $600 million in cash and 3,209,971 shares of AMAG common stock. An […]

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Celgene to invest $1 billion in Juno to partner in cancer therapies

Celgene Corp. on Monday launched a 10-year partnership with Juno Therapeutics, announcing a $1 billion investment aimed at bringing to market Juno technologies that harness the immune system to treat cancer and autoimmune diseases. The biotech companies, in a conference call to discuss the multi-faceted deal, said they anticipate potential product approvals in 2020. The […]

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Citrus fruit linked with melanoma in preliminary study

Using data from two long-term studies of women and men, researchers found a potential link between citrus consumption and malignant melanoma of the skin. But the study did not test whether citrus fruits were the cause of the skin cancers, and more work will be needed to confirm the connection, the authors write in the […]

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Health groups sue FDA for Gilead hepatitis C drug trial data

The Food and Drug Administration was sued by two advocacy groups seeking to force the faster disclosure of clinical trial data that helped Gilead Sciences Inc win approval for two blockbuster hepatitis C drugs. In their June 25 lawsuit, Yale University’s Global Health Justice Partnership and the Treatment Action Group, an AIDS non-profit, said doctors […]

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Few people heading toward diabetes know it

Only about one in eight people with so-called pre-diabetes, often a precursor to full-blown disease, know they have a problem, a U.S. study found. Lacking awareness, people with the elevated blood sugar levels were also less likely to make lifestyle changes such as getting more exercise or eating less sugary food that might prevent them […]

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EXCLUSIVE: Knives Are Out for Biotech, As Bears Snag Options for Bubble Burst

New market data is showing a renewed and ravenous demand for options tied to declines in an exchange-traded fund tracking biotech companies, according to Bloomberg data, which hit the highest level in three years last week. Biotech is continuing its scorching pace of growth, with the NASDAQ Biotechnology Index (NBI) up more than 25 percent […]

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Amgen To Lay Off 330 in Colorado as Part of Almost 4,000 Jobs Cuts Overall

Thousand Oaks, Calif.-based Amgen (AMGN) is currently auctioning off its equipment from its campus in Longmont, Colo. It expects to shut down the 70-acre facility by the end of the year and is selling the entire package for $85 million. The campus includes six buildings that make up a manufacturing building, utilities, two quality control […]

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Secant Medical Moves Corporate Headquarters to Telford

TELFORD, Pa.–(BUSINESS WIRE)–Secant Medical® announced today the corporate headquarters have moved to 551 East Church Avenue, Telford, Pennsylvania 18969 from its long time Perkasie location. The company has been investing heavily in the regenerative medicine field through the enhancement of its operations and new biomaterials platform technology development. “The Telford facility is geared toward innovation […]

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CureDuchenne’s Funding Bears Fruit with Drisapersen: First-Ever New Drug Application (NDA) Accepted by Food and Drug Administration (FDA) for Duchenne Muscular Dystrophy

NEWPORT BEACH, Calif.–(BUSINESS WIRE)–CureDuchenne today applauded the U.S. Food and Drug Administration (FDA), which took the critical step of accepting the first-ever New Drug Application (NDA) for a possible treatment for those who suffer with Duchenne muscular dystrophy. The FDA said it will accept BioMarin Pharmaceutical’s NDA for drisapersen, the first Duchenne drug ever to […]

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