Novartis' Afinitor gets FDA nod as a first; Gilead disappoints in Q1;

 @FiercePharma: Drama at J&J annual meeting: One investor hopes new CEO will "lead us back" to being happy when $JNJ's in the news--AP. Story | Follow @FiercePharma

> Afinitor, from Novartis ($NVS), has gotten FDA approval to be the first treatment of non-cancerous kidney tumors in patients with a rare genetic disease known as tuberous sclerosis complex. Story 

> Gilead Sciences ($GILD) surprised Wall Street with a 32% decline in earnings, pegging the decline to costs associated with its purchase of hepatitis C drug developer Pharmasset. Report

> In a newsletter to shareholders, Bayer acknowledged that costs for settling lawsuits related to its Yasmin birth control drug have reached $142 million. Article

> The FDA says Merck ($MRK) must change the label on its recently approved hep C treatment Victrelis to indicate it shouldn't be taken along with HIV drugs. Item

> Share of Repligen ($RGEN) fell 40% after it announced that the FDA wanted more data on its treatments for rare diseases. More

> The FDA wants additional data from Takeda Pharmaceutical about new drug applications (NDAs) for alogliptin and the fixed-dose combination therapy alogliptin and pioglitazone. Story

Biotech News

 @FierceBiotech: Check out this report on the pulse of biotech IT in Boston by @RyanMFierce. Report | Follow @FierceBiotech

 @JohnCFierce: The Spanish crisis getting worse, Italian economy shrinking, U.K. back in recession. U.S. econ slows. Interesting times. Article | Follow @JohnCFierce

 @RyanMFierce: Novo Nordisk plans to grow its U.S. workforce 15% in 2012. Nice change from usual drumbeat of pharma layoffs. Release | Follow @RyanMFierce

> Jazz Pharma snaps up Eusa in $700M buyout deal. More

> FDA stamps approval on GSK cancer drug Votrient. News

> Astellas, biotech VCs to pump $14M into virtual drug developer. Story

> Pfizer stays in the autism drug chase. Item

Medical Devices News

 @FierceMedDev: FDA panel gives Cameron Health good news on implantable ICD. News | Follow @FierceMedDev

> High-impact sports reduce life span of artificial hips. Report

> Covidien sees strong quarter on device sales, emerging markets growth. Article

> Australian researchers prepare for bionic eye trial. More

And Finally... Novo Nordisk says while others are laying people off, it will expand its workforce in the U.S. 15%. Release