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Illumina to buy rival Pacific Biosciences

Gene sequencing company Illumina Inc. plans to buy Pacific Biosciences of California Inc. in an all-cash deal valued at $1.2 billion.

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Sanofi and Denali Reach Potential $1+ Billion Deal

Denali announced a collaborative deal with Sanofi to develop potential treatments for neurological and systemic inflammatory diseases that could be worth more than $1 billion.

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Akoya Biosciences Acquires Phenoptics Portfolio from PerkinElmer

Akoya Biosciences Inc., a Telegraph Hill Partners company, acquired PerkinElmer Inc.’s Phenoptics portfolio.

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Novartis Cuts 20 Percent of Research Programs

Novartis is abandoning approximately 20 percent of the company’s research projects after a strategic review.

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AstraZeneca Divests Two Drugs to Grünenthal

Grünenthal will pay AstraZeneca $700 million up-front for the prescription drug rights to the acid-reflux medicine Nexium. AstraZeneca may also receive future milestones and sales-related payments of up to $90 million.

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Eli Lilly, Dicerna Reach RNAi Therapies Deal

Dicerna Pharmaceuticals and Eli Lilly struck a deal to use an RNAi technology platform for up to 10 cardio-metabolic, neurodegeneration and pain targets.

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Novartis, Pfizer join forces on potentially lucrative fatty liver disease

Novartis AG and Pfizer Inc. are teaming up to develop treatments for a liver disease tied to obesity and diabetes epidemics that many drug companies believe will become a hugely lucrative market.

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Abbott, AbbVie settle TriCor marketing case for $25 million

Abbott and AbbVie will pay $25 million to resolve allegations that Abbott paid kickbacks to doctors for prescribing the cholesterol drug TriCor and promoted the medication for unapproved purposes.

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Lundbeck Schizophrenia Drug Fails Phase III Study

Lundbeck’s shares plunged after announcing the new drug candidate Lu AF35700 for treatment-resistant schizophrenia failed to differentiate itself against conventional therapies in Phase III.

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India’s Dr. Reddy’s Q2 profit surges nearly 70 percent

Indian drugmaker Dr. Reddy’s Laboratories posted a 69.7 percent jump in fiscal second-quarter 2018 profit, helped by new product launches.

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