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The Pulse of the Pharmaceutical Industry

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CSL Behring Scoops U.S. Biotech Calimmune

CSL Ltd. bought Tucson, Ariz.-based Calimmune for $91 million upfront and up to $325 million in performance-based milestones.

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Medtronic misses revenue estimates, shares dip

Medical device maker Medtronic Plc reported Q1 fiscal 2018 revenue fell short of analysts’ estimates, hurt by lower sales in its diabetes-related device business.

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Novo Nordisk’s semaglutide beats out Trulicity

Positive results were announced from Novo Nordisk’s SUSTAIN 7 Phase III trial comparing once-weekly semaglutide against Lilly’s Trulicity for type 2 diabetes.

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Bristol-Myers Kidney Cancer Drug Flunks Study

Bristol-Myers Squibb released mixed top-line results from its Phase III CheckMate-214 clinical trial of Opdivo in combination with Yervoy for advanced or metastatic RCC.

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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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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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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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Perrigo Unveils Sale of Two Business Units

Amid an ongoing organizational restructuring, Perrigo is selling off two of its business units as the company looks to streamline costs and pare down some of its debt.

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Mylan cuts forecasts on delays in new drugs

Mylan NV said that delays in launching key new drugs and eroding prices for generics in the United States will hurt its profitability in 2017 and 2018.

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Gemphire Shares Drop on Disappointing Phase II Results for LDL Drug

Shares of Gemphire Therapeutics plunged more than 51 percent in morning trading after the company’s Phase IIb anti-cholesterol drug gemcabene failed to meet analyst expectations.

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