Spotlight On... Baxalta, on cusp of buyout, bags cancer drug deal with Onconova; India cuts prices on essential meds; Research finds women need daily doses of Gilead's Truvada; and more...

Baxalta ($BXLT), soon to be part of Shire ($SHPG), has decided to bag its $565 million cancer partnership for Onconova Therapeutics' ($ONTX) twice-failed treatment for myelodysplastic syndrome, a rare bone marrow disorder that often develops after patients receive cancer therapy. The deal had been struck in 2012, when Baxalta was part of Baxter ($BAX), but the company has decided it no longer fits into its "strategic priorities." In January, Baxalta succumbed to Shire's $32 billion buyout offer. The deal is expected to close this summer. More from FierceBiotech

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> India has fixed the price on 530 essential drugs, reducing the prices of 126 drugs by as much as 40%. Report

> U.S. officials were part of a two-day workshop in India to discuss cooperating into research into Indian traditional medicine. Report

> Researchers the University of North Carolina at Chapel Hill found that because of the way that the HIV prophylactic Truvada accumulates in tissues, women need daily doses of the drug while men need only two doses a week. Report

> Already approved in the U.S. as Adynovate, Baxalta ($BXLT) is now seeking approval in Europe of its new hemophilia A drug which, if approved, will be marketed there as Adynovi. Report

Medical Device News

@FierceMedDev: IYCMI: FDA approves Gore's endoprosthesis for iliac artery aneurysms. Article | Follow @FierceMedDev

@EmilyWFierce: AZ stokes $45 billion sales hopes with expanded approval for breast cancer drug Faslodex. FiercePharma story | Follow @EmilyWFierce

> Siemens Healthcare CEO: restructured unit 'hungry' for M&A deals. Report

> Zimmer partners with orthobiologics startup to sell its fracture, bone-void products. More

> Open-science nonprofit trots out promising data from study of iPhone app for Parkinson's. Article

Biotech News

@FierceBiotech: EuroBiotech Report: Genfit bags €50M as IPO plan simmers; British biotechs form cancer JV; Zealand drug fails PhII. More | Follow @FierceBiotech

@JohnCFierce: Tim Anderson is digging deep to find cause to believe that 's anacetrapib PhIII could be +; would certainly surprise the hell out of me. | Follow @JohnCFierce

> Baxalta dumps Onconova's cancer drug in the midst of Phase III. Report

> Vitae tanks after cutting its psoriasis trial short, stoking safety concerns. Story

> CRO giant inVentiv Health could be in line for a $500M IPO. Article

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