TOP STORIES
Novartis has acquired the remaining rights to GlaxoSmithKline’s multiple sclerosis drug Ofatumumab for up to $1 billion. It is developing the drug for relapsing remitting multiple sclerosis and other auto-immune conditions.
— Reuters
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Pfenex Inc. a California biotech working on an anthrax vaccine to compete against Emergent BioSolutions Inc.’s BioThrax, is receiving a federal contract worth up to $143.5 million, it was announced this week. — Washington Business Journal
LIFE SCIENCES
MIT and Harvard scientists believe they have discovered “switch” for human metabolism that could be key in reducing soaring problem of obesity in the U.S.
The findings “uncover a genetic circuit that controls whether our bodies burn or store fat. Altering the genetic circuit could provide new types of obesity treatments. — Science Daily
Resolving allegations that it unlawfully promoted biologic medications Aranesp and Enbrel for uses not approved by the U.S. Food and Drug Administration, Amgen, Inc. has agreed to pay a total of $71 million in a multistate settlement.
PAYERS-PROVIDERS
A new report by Avalere Health has revealed that 9 percent of U.S. acute care hospitals and 7 percent of skilled nursing facilities are voluntarily assuming financial risk by participating in the latest phase of the CMS Bundled Payments for Care Improvement Initiative. — Forbes
Shuttle bus ads proclaiming “Medicare for people living abroad,” may be misleading. At least that’s what American expats living in Nicaragua likely thought when they tipped off U.S. Embassy officials to a Medicare fraud scheme that cost the U.S. $25 million and led to the conviction of two Florida healthcare executives. — Bloomberg
TECH
ZocDoc raised $130 million in a new funding round that closed at the end of July from Scottish investment firm Baillie Gifford and London-based Atomico, the venture firm started by Skype co-founder Niklas Zennstrom.
Survey results released by AmericanEHR Partners and AMA indicate declining satisfaction with EHRs compared to five years ago, with about half of the respondents reporting a negative impact on costs, efficiency or productivity.
POLITICS
Scott Walker, Marco Rubio and others are competing for the best plan to replace Obamacar. But there is growing evidence that even GOP voters are more concerned about curbing drug prices than dislodging the president’s signature health program. — Politico
A LITTLE BIT EXTRA
Researchers claim that they were able to fulfill what majority of scientists and government officials have long dreamed of – transforming the most widespread greenhouse gas called carbon dioxide (CO2) into something beneficial.
Specifically, they stated that they were able to come up with a technology that can economically turn atmospheric CO2 directly into carbon nanofibers, which may be used for industrial and commercial purposes.
