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Glenmark Adds 400 Employees, Spins off Innovation Business

Mumbai-based Glenmark Pharmaceuticals is spinning off its innovation business into a U.S.-based standalone company.

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Starboard gauges Bristol-Myers shareholder support for Celgene deal

Activist hedge fund Starboard Value LP asked a proxy solicitor to probe the level of support among Bristol-Myers Squibb Co. shareholders for the U.S. drug maker’s $74 billion deal to buy Celgene Corp., people familiar with the matter said.

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Bayer acquires full Vitrakvi rights from Eli Lilly’s Loxo

German drugmaker Bayer acquired all rights the company does not already own in Vitrakvi, a drug against a variety of cancers driven by a rare genetic mutation, from Eli Lilly’s Loxo Oncology.

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With 5 Gene Therapies Licensed From Penn, Passage Bio Launches With $115.5 Million Series A

Philadelphia-based Passage Bio launched with a Series A financing round valued at $115.5 million, led by OrbiMed Advisors.

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5AM Ventures Closes $497M for Its Sixth Biotech Fund

5AM Ventures raised a total of $497 million for two more funds.

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Axovant Announces Formation of Arvelle Therapeutics

Axovant Sciences, a clinical-stage company developing innovative gene therapies, today announced the formation of Arvelle Therapeutics and the strategic transition of its legacy small molecule team into the newly formed company.

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Irish drug trial technology firm Teckro wins $25 million injection

Ireland’s Teckro, which makes software that allows physicians to take part in drug development trials from mobile devices, has won $25 million in financial backing from investors as the company hatches longer-term plans for a stock market listing.

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New cancer drugs, China give AstraZeneca welcome sales boost

AstraZeneca forecast sales growth for full-year 2019, driven by revenue from cancer medicines and other new treatments.

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J&J acquires Auris Health for $3.4 billion

Johnson & Johnson plunked down $3.4 billion in cash to acquire privately held Auris Health Inc., a company that has developed robotic endoscopic technologies for the treatment of lung cancer.

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House Ways and Means Committee Holds Hearing on Drug Prices

The rising costs of prescription medicine took center stage during a hearing held by the Ways and Means Committee in the U.S. House of Representatives.

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