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Morning Read: Novartis sets ambitious goal for biosimilars

Also, Minneapolis nurses with five hospitals go on strike and Hologic became the third company to develop a blood test for the Zika Virus that U.S. regulators have greelighted for emergency use.

copy biosimilar drugsTOP STORIES

Novartis wants to triple the number of its biosimilar drugs on the market to eight by 2020. Novartis CEO Joe Jimenez believes biosimilars could cost as little as 75 percent less than the drugs they mimic. — Reuters Health

The Aptima Zika Virus blood test from Hologic became the third commercial diagnostic that U.S. regulators have greelighted for emergency use to manage the spread of the condition. Focus Diagnostics and altona Diagnostics have also developed blood tests that have been approved. — Boston Business Journal

LIFE SCIENCES

In a Phase 3 study, GlaxoSmithKline and Innoviva’s use of a combination drug therapy that includes corticosteroid fluticasone furoate, long-acting muscarinic antagonist umeclidinium, and long-acting beta agonist vilantero showed improved lung function and health-related quality of life in patients with chronic obstructive pulmonary disease, compared with rival treatment Symbicort Turbohale. — MarketWatch, PMLive

F2G , a UK-based antifungal drug discovery and development business, raised  $60 million to support its pipeline of therapies to treat life threatening invasive fungal infections. Sectoral Asset Management led the round, with participation from Novo A/S, Aisling Capital and Brace Pharma Capital. Existing investors Advent Life Sciences LLP, Novartis Venture Fund, Sunstone Capital and Merifin Capital also participated. — PR Newswire

PAYERS-PROVIDERS

Nurses at four Minneapolis-St.Paul hospitals hit the picket line on Sunday morning marking the start of a one week strike called by the Minnesota Nurses Association due to an impass with Allina Health System over health insurance coverage. The hospitals  affected by the strike include Abbott Northwestern, United, Unity, Mercy, and Phillips Eye Institute. — The Star-Tribune

Fewer employers are offering health benefit programs, a new survey of 3,490 human resource professionals suggests, because they have trouble saving money with them. The survey by the Society for Human Resource Management held that although 37 percent said they offered health coaching, about half said they offered this last year, the article said. — The Wall Street Journal

TECHNOLOGY

IBM has embarked on a five-year collaboration with the University of Calgary in the study of genomics and autism. — Fierce Biotech

ActiGraph has developed a way to de-silo data from clinical-grade wearables in clinical trials by creating a data hub. — Fierce Biotech

POLITICS

The Centers for Medicare and Medicaid released a final rule requiring labs doing clinical diagnostic lab tests to report the amounts paid by private insurers for laboratory tests. Medicare will use the private insurer rates to calculate Medicare payment rates for lab tests paid under the Clinical Laboratory Fee Schedule starting January 1, 2018. The final rule includes provisions to ease administrative burdens for physician office laboratories and smaller independent laboratories. — Federal Register

A LITTLE BIT EXTRA

This is why a theft of $50 million in bitcoins from a crowdfunding website is being compared to stealing the Mona Lisa. — Wired

 

Photo: Flickr user bettyx1138

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