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Gottlieb addresses speculation over HHS job; China to accept overseas trial data

Top news

* President Donald Trump has appointed Eric Hargan as acting Secretary of Health and Human Services, Reuters and Bloomberg News reported.

* U.S. Food and Drug Administration Commissioner Scott Gottlieb addressed speculations about succeeding Tom Price as the Health and Human Services secretary, saying he could best serve the administration by staying with the FDA but would be willing to serve the president in whatever capacity is required, The Wall Street Journal reported.

* The China Food and Drug Administration will start accepting clinical data from overseas trials for drugs with immediate effect, in an attempt to speed up drug approvals in the country.

M&A and capital markets

* Lupin Ltd. acquired Symbiomix Therapeutics LLC via its U.S. subsidiary Lupin Inc. for $150 million in cash.

* Bradmer Pharmaceuticals Inc. is proposing to merge with First Coin Capital Corp., a British Columbia-based technology company offering services to companies that wants to tap digital currencies.

* Biom'Up, a French medical company, said it raised €38.1 million in an IPO on the Euronext Exchange following strong demand from French, U.K. and U.S. investors.

* French biotechnology company Theranexus SAS launched its IPO on the Euronext Exchange priced at between €14 and €18.8 per share, Reuters reported.

* Chongqing Pharscin Pharmaceutical Co. Ltd. is looking to raise up to 181.5 million Chinese yuan through its IPO on the Shenzhen Stock Exchange. The Chinese drug manufacturer is offering no more than 40 million ordinary shares, priced at 4.53 yuan per share.

Drug and product pipeline

* Spark Therapeutics Inc.'s experimental gene therapy Luxturna improves vision in patients with a genetic disease that causes blindness, but uncertainties remain on the drug's lasting effect and in what age group it should be used, scientists at the U.S. FDA said.

* Mylan NV and Biocon Ltd's biosimilar of Amgen Inc.'s Neulasta failed to win the approval of the FDA, which is seeking information on a manufacturing facility.

* Ultragenyx Pharmaceutical Inc. and Kyowa Hakko Kirin Co. Ltd. have filed for FDA approval for their burosumab treatment for a rare genetic disorder.

Other features

* Bloomberg News looks at the potential impact of a President Trump executive order on the American healthcare system.

* Bloomberg Businessweek carries a feature on AstraZeneca PLC CEO Pascal Soriot, who took the helm of the company in 2012 and helped revitalize the drugmaker's pipeline of drugs.

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng fell 0.36% to 28,389.57, and the Nikkei 225 was up 0.28% to 20,881.27.

In Europe, as of midday, the FTSE 100 was nearly unchanged at 7,538.05, and the Euronext 100 had grown 0.02% to 1,046.13.

The Daily Dose is updated as of 6:30 a.m. ET. Some external links may require a subscription.