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Merrimack Scraps Solid Tumor Asset

Shares of Merrimack Pharmaceuticals sunk after the company announced the discontinued development of an experimental solid tumor treatment and will lay off some employees.

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Roivant and Sinovant Launch Cytovant

Vivek Ramaswamy’s Roivant Sciences has launched another “vant” company, this time in China, in a partnership with Hong Kong-based Sinovant Sciences.

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Novartis, Amgen in dispute over migraine drug partnership

Swiss drugmaker Novartis AG sued Amgen Inc., accusing the U.S. biotechnology company of trying to wrongfully back out of agreements to jointly develop and market the migraine prevention drug Aimovig and keep the profits for itself.

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Drugmakers pay to resolve U.S. charity kickback probe

Three drugmakers will pay $122.6 million to resolve claims they used charities that help cover Medicare patients’ out-of-pocket drug costs as a way to pay kickbacks aimed at encouraging the use of their medications.

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Gates, Bezos team up to fund Alzheimer’s diagnostics

The Bill & Melinda Gates Foundation and Jeff Bezos’ Day One Fund teamed up to donate $15 million to the Diagnostics Accelerator as part of the Alzheimer’s Drug Discovery Foundation.

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FDA Issues CRL for Evoke Pharma’s Gimotti

Shares of Evoke Pharma plunged more than 40 percent after the company announced the U.S. FDA issued a Complete Response Letter regarding the gastroparesis treatment Gimotti.

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Novartis lands assets from inflammation specialist IFM

Novartis agreed to pay $310 million upfront, with the possibility for more later, for some research assets of Boston-based inflammation specialist IFM Therapeutics as the Swiss drugmaker expands the company’s immunology pipeline.

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AbbVie Cuts 178 Stemcentrx Employees Months After Rova-T Failure

AbbVie is slashing 178 jobs from the company’s Stemcentrx subsidiary in South San Francisco.

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Shares in Galapagos jump after arthritis drug results

Shares in Galapagos surged nearly 16 percent after the company reported positive results from several safety and efficacy trials of the Belgian drugmaker’s rheumatoid arthritis drug filgotinib.

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AstraZeneca pays up to $6.9 billion in Daiichi Sankyo cancer deal

AstraZeneca will pay up to $6.9 billion to work with Daiichi Sankyo on a hotly tipped experimental treatment for breast cancer, in a direct challenge to the world’s largest cancer drug maker Roche.

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