In general news, an ISIS-organized deadly attack on a Berlin Christmas square put Angela Merkel on the defensive since it was an immigrant who committed the massacre. In the U.S., the Electoral Collage made Trump’s victory official, despite a weeklong barrage of propaganda meant to sway voters. Meanwhile, Christmas was celebrated without major incident.
In healthcare business news, Biogen (BIIB) named insider Michel Vounatsos as its new CEO. Impax Labs (IPXL) abruptly fired their CEO. Allergan (AGN) ventured into regenerative medicine with a $3 Billion deal for Acelity’s LifeCell division. Finally, Teva (TEVA) will have to pay $519 Million as a settlement for prosecution regarding oversees bribes.
On the data front, Synergy Pharmaceuticals (SGYP) shares spiked on good trial results with plecanatide to treat irritable bowel syndrome. The Abbvie (ABBV) and Galapagos (GLPG) drug to treat cystic fibrosis, GLPG1837, met endpoints. The drug could compete with Vertex’s (VRTX) Kalydeco. Glaxo’s (GSK) two-drug HIV therapy (GSK’s dolutegravir and JNJ’s rilpivirine), met endpoints. Finally, Merrimack (MACK) ended its breast cancer drug study of drug MM-302 due to futility.
From the FDA, Clovis’ (CLVS) ovarian cancer drug Rubraca (rucaparib) was approved. Also, Dexcom’s (DXCM) G5 glucose monitor was approved as the first CGM indicated to allow for the replacement of fingerstick testing.