Top Story

Morning Read: Pfizer makes play for Medivation that could rival Sanofi’s bid, Shkreli may face more fraud charges

Also, one group wants to tap videogamers’ expertise to develop a better tuberculosis test and MVM Life Science Partners has closed its fourth fund at $233 million.

Pfizer world headquarters in Manhattan on May 5, 2014 (Photo by Spencer Platt/Getty Images)

Pfizer world headquarters in Manhattan on May 5, 2014 (Photo by Spencer Platt/Getty Images)

TOP STORIES

Pfizer is in talks with Medivation about a possible acquisition. The company has already received an offer from Sanofi of $9.3 billion for the cancer drug developer. Its drug, Xtandi, is used to treat prostate cancer. — Fortune,

Former Turing Pharmaceuticals CEO Martin Shkreli could face additional securities fraud charges stemming from his work with Retrophin, federal prosecutors said. Additionally, Turing faces a lawsuit from Impax Pharmaceuticals over a breach of their sales contract. Apparently Turing allegedly failed to reimburse $20 million in Medicaid rebates and provide pricing data for Daraprim. — Reuters, STAT

LIFE SCIENCES

Medtronic has a new CFO in the form of Karen L. Parkhill, who comes to the medical device giant from financial services firm Comerica. She takes over for Gary Ellis who is is expected to retire and oversaw the acquisition of Covidien last year. Medtronic did not comment. — The Wall Street Journal

Biogen plans to spin off its hemophilia unit later this year or in early 2017.  The new business will include its two hemophilia drugs, Eloctate and Alprolix, which had combined sales of $555 million last year.  Some think the move will help this growing part of the business thrive and allow Biogen to focus on its neurological drug pipeline but others are revisiting market speculation that its positioning itself for a sale. — Bloomberg, Barrons

Antipsychotic medication Abilify has been connected with impulsive behavior for gambling, sex and food in rare cases, according to the U.S. Food and Drug Administration. The urges subsided with reduced dosages or ending the medication altogether. — The Wall Street Journal

A search to identify what went wrong in a fatal clinical trial run by Biotrial reveals flawed common sense was the culprit. Participants in the trial of an experimental drug evaluated as a pain remedy were given 40 times the dosage that was expected to treat pain. The “dosage pattern” differed between the groups of participants. When a participant was hospitalized, it didn’t halt the trial. — NPR

MVM Life Science Partners has closed its fourth fund at $233 million. It will invest $15 million to $30 million in therapeutics, medical device companies and healthcare IT companies at all stages of development in the U.S. and Europe. —BioCentury

PAYERS-PROVIDERS

The University of Kansas Medical Center’s Institute for Advancing Medical Innovation has partnered with BioNovus Innovations to develop and commercialize new drugs, diagnostics and medical devices. — PR Newswire

TECHNOLOGY

Videogamers, your talents could help cure tuberculosis of all things. A research scientist is recruiting thousands of gamers to crowdsource a better test for the respiratory disease, which infects about one-third of the population. “They just need to design a single molecule that can diagnose the disease in a patient’s bloodstream quickly, easily and cheaply—a task that so far has eluded public-health experts,” the article said. My only question is which video game players would be ideally suited? Surely a mindset that makes a strong Clash of Clans player will differ from Call of Duty fans? — The Wall Street Journal

Envera Health raised $14 million for its patient engagement software. It also acquired two companies: InHealth and clinician portal MedVirginia, from Central Virginia Health Network. — MobiHealthNews

London has data sharing ambitions and is expressing them through London Digital Programme. Mike Part, who leads it as part of the Healthy London initiative, said it seeks to create a single data sharing agreement for London that would give patients accounts where they could select which institutions with which they want to share their data and “data controllers” connected to the exchange decide which records to share.  — Digital Health

POLITICS

A study by the Centers for Disease Control concluded that 30 percent of the 154 million antibiotic prescriptions each year are not needed. — The Hill

A LITTLE BIT EXTRA

If you’re weary of the oxygen bar scene, apparently flavored, recreational oxygen will be the big trend at music festivals this summer. You’ve been warned. — PR Newswire

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