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Merck KGaA, Pfizer cancer drug bags UK nod; US lawmakers probe flu vaccine

Top news

* Lawmakers summoned the U.S. Centers for Disease Control and Prevention's acting head Anne Schuchat, along with other agency leaders, to Capitol Hill for a hearing on March 8 to explain why this year's flu vaccine was largely ineffective, demonstrating only 36% protection overall.

U.S. Food and Drug Administration Commissioner Scott Gottlieb, National Institute of Allergy and Infectious Diseases Director Anthony Fauci and Biomedical Advances Research and Development Authority Director Rick Bright were also among those who were summoned by the House Energy and Commerce Subcommittee on Oversight and Investigations.

Meanwhile, the FDA also warned Americans to look out for fake anti-flu products sold online and in other settings.

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* The U.K.'s National Institute for Health and Care Excellence recommended Merck KGaA and Pfizer Inc.'s cancer medicine Bavencio for use under the National Health Service to treat a type of skin cancer that tends to grow fast and spread quickly to other parts of the body.

On the policy front

* The U.S. Justice Department asked for 30 days to make a decision on whether to participate in a litigation against manufacturers and distributors for their alleged role in the opioid epidemic, Reuters reported.

M&A and capital markets

* Leverkusen, Germany's Bayer AG is in advanced discussions to sell its vegetable seeds business to chemicals company BASF SE, Reuters reported, citing two people familiar with the matter. BASF is conducting due diligence to acquire the unit, which could be valued at about €1.5 billion.

* Tianjin, China-based Tasly Pharmaceutical Group Co. Ltd. intends to list its biopharmaceutical subsidiary, Shanghai Tasly Pharmaceutical Co. Ltd., on the Hong Kong Stock Exchange to raise about $1 billion, Reuters reported, citing people with knowledge of the matter.

* Unum Therapeutics Inc. plans to list its shares on the Nasdaq global market through an IPO. In its IPO filing, Unum also revealed two patient deaths in a clinical trial for its cancer drug ACTR087, which resulted in the U.S. FDA putting the trial on clinical hold.

Drug and product pipeline

* Santhera Pharmaceuticals Holding AG said its treatment Raxone, or idebenone, did not work better than placebo when treating certain patients with multiple sclerosis, a disease affecting the nerves, in a phase 1/2 study.

* Clearside BioMedical Inc. said its eye treatment CLS-TA significantly improved the vision of certain patients with macular edema in a phase 3 study. Macular edema occurs when damaged blood vessels cause a build-up of fluid in the retina, the light-sensitive part of the eye, resulting in distortion of vision.

* Celgene Corp. will collaborate with Vividion Therapeutics Inc. to identify and develop molecules for potential treatments of cancer and inflammatory and neurodegenerative diseases. Under the deal, Celgene will pay Vividion $101 million up-front, including an equity investment.

* G1 Therapeutics Inc. said its cancer treatment trilaciclib, when taken prior to chemotherapy, enhanced immune system function in certain lung cancer patients in a phase 2a study. The therapy is intended to reduce the harmful effects of chemotherapy in patients with the small cell lung cancer.

* Otonomy Inc. said the U.S. FDA approved Otiprio for treating a type of ear inflammation and infection in certain patients.

* Mylan NV is launching two new U.S. FDA-approved HIV combination treatments. Symfi Lo will be launched in the U.S. in the coming weeks, followed by Cimduo in the second quarter of 2018.

Other features

* CNBC has a feature about "micro hospitals" which have the same services as their larger counterparts, but with only a fraction of the costs.

* The Financial Times has a special report on "50 ideas to change the world," which includes features on immunotherapy and gene editing.

* U.S. authorities are looking into the shortage of saline in the country and whether certain companies aggravated the situation for their own gain, the Financial Times said in a feature.

* Surgery centers are increasing in the U.S., but they may not be properly equipped to handle life-threatening situations like hospitals, STAT said in a feature.

The day ahead

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

In Asia, the Hang Seng declined 2.28% to 29,886.39. The Nikkei 225 slid 0.66% to 21,042.09.

In Europe as of midday, the FTSE 100 rose 0.20% to 7,083.92, and the Euronext 100 added 0.44% to 1,002.59.

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