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GSK foregoes bid for Pfizer's consumer arm; Sanofi plans dengue vaccine for US

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

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Cannabis: Hashing Out a Budding Industry

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IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


GSK foregoes bid for Pfizer's consumer arm; Sanofi plans dengue vaccine for US

Top news

* GlaxoSmithKline PLC pulled out from the bidding battle to acquire Pfizer Inc.'s consumer healthcare business valued at $20 billion. The British drugmaker follows in the footsteps of Reckitt Benckiser Group PLC, which also withdrew from the bidding process.

* Sanofi's global head of research and development, Elias Zerhouni, told S&P Global Market Intelligence that the Paris-based drugmaker is working on diagnostic tests to accompany a possible application for U.S. regulatory approval of its Dengvaxia vaccine.

* The European Medicines Agency recommended the approval of Ipsen SA and Exelixis Inc.'s Cabometyx as a primary treatment for adults with certain types of advanced renal cell carcinoma, the most common form of kidney cancer.

* ViiV Healthcare Ltd. said the European Medicines Agency recommended marketing authorization for Juluca in treating certain patients with HIV. Juluca is a two-drug regimen comprising ViiV's dolutegravir and Johnson & Johnson rilpivirine.

On the policy front

* The China Food and Drug Administration is aiming to cut the time it takes to review clinical trial applications to 30 days, said Ruyi He, chief scientist of the regulatory agency's center for drug evaluation.

* The U.K. government lifted a pay cap for National Health Service employees in a new agreement that will see a 6.5% average hike in health workers' compensation over the next three years, Bloomberg News reported.

Drug and product pipeline

* AbbVie Inc.'s stock fell after the company announced that it will not seek accelerated approval for its cancer drug Rova-T in the U.S. as a third-line treatment for small cell lung cancer. The decision was based on results from the phase 2 Trinity study that showed only 29% of patients saw a reduction in their cancer.

* Eisai Co. Ltd. and Merck & Co. Inc. said Lenvima was approved in Japan as a primary treatment for liver cancer that cannot be removed surgically. This is the first time the drug has been approved as a first-line treatment of unresectable hepatocellular carcinoma in the world.

* The U.S. Food and Drug Administration authorized Novartis AG to expand the indication for Tasigna, also known as nilotinib, to include the treatment of children with a form of chronic myeloid leukemia, a cancer of the blood and bone marrow.

* Novartis said full results from a phase 3 study of siponimod showed the drug significantly improved outcomes in patients with secondary progressive multiple sclerosis, which affects the brain and spine.

* The U.S. FDA extended the review of Progenics Pharmaceuticals Inc.'s tumor therapy Azedra by three months to July 30. The New York-based company said the extension is the result of the submission of additional chemistry, manufacturing and controls information, and is not related to the efficacy or safety data of Azedra.

* The Japanese Ministry of Health, Labour and Welfare approved Novo Nordisk A/S' Ozempic, or semaglutide, to treat adults with Type 2 diabetes.

* The European Commission and the Japanese Ministry of Health, Labour and Welfare approved GSK's shingles vaccine Shingrix for use in adults 50 years and older.

* AbbVie and Eisai said that Humira was approved in Japan as a treatment for a serious skin disorder caused by an autoimmune disease known as pustular psoriasis.

* AstraZeneca PLC secured marketing approval from the European Commission for the use of Lokelma in treating hyperkalemia, a condition characterized by elevated potassium levels in the blood.

Operational activity

* Sino Biopharmaceutical Ltd. reported a 32.6% year-over-year rise in full-year 2017 profit attributable to owners of the parent to about 2.17 billion yuan from about 1.64 billion yuan.

Our features

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Other features

* CNBC featured a report by AARP, a nonprofit for the elderly, that said a proposed federal rule would raise 2019 premiums by an average of $2,000 for older Americans who rely on the Affordable Care Act's individual health insurance market.

* Healthcare companies, such as CVS Corp. and Walgreens Boots Alliance Inc., are hiring high-profile executives from the pharmaceutical industry to lead their integration efforts with recently acquired businesses, The Wall Street Journal reported.

The day ahead

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

In Asia, the Hang Seng decreased 2.45% to 30,309.29, and the Nikkei 225 declined 4.51% to 20,617.86.

In Europe, around midday, the FTSE 100 was down 0.56% to 6,913.57, and the Euronext 100 was down 1.37% to 995.91.

The Daily Dose is updated as of 6:30 a.m. ET.

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