Drug wholesaler McKesson ($MCK) told investors recently that fading price increases for generic drugs was going to be a drag on its earnings for the year, dropping its forecast. Now to prepare, the drug distributor is whacking about 1,600 jobs to cut costs, Bloomberg reports. In a statement to the news service, San Francisco-based McKesson said that "reductions to our workforce would be necessary to align our cost structure with our business needs." The cuts follow a series of deals McKesson did to expand internationally. Earlier this month it agreed to pay $2.23 billion (C$3 billion) to buy the Rexall Health in Canada from Katz Group. Story | More
@FiercePharma: India's Lupin hauled up by U.S. FDA for lapses at Goa plant. More from FiercePharmaAsia | Follow @FiercePharma
@CarlyHFierce: Takeda dumps weight loss med Contrave, leaving Orexigen in the lurch. More from FiercePharmaMarketing | Follow @CarlyHFierce
> Bayer won U.S. approval for a hemophilia A treatment, Kovaltry, that won European clearance late last month. Report
> India's Biocon inked a deal with Mexico-based PiSA to develop generic human insulin for the U.S. market. Report
> Endo International ($ENDP) said it would bring in first-quarter revenue of $928 million to $972 million, with earnings per share of up to $1.08. Report
Medical Device News
@FierceMedDev: Med tech, healthcare services venture firm HealthQuest raises oversubscribed $225M fund. Story | Follow @FierceMedDev
@VarunSaxena2: The chart is just so darn startling/horrible. (Have mentioned it in stories about opioid abuse-deterrent tech.) More from the NYT | Follow @VarunSaxena2
@EmilyWFierce: 10X Genomics locks down $55M for long-read sequencing tech. News | Follow @EmilyWFierce
> Toshiba sell its medical imaging business to Canon for $6B amid deepening accounting scandal. Report
> Dx Digest: Myriad reveals positive study results for melanoma test; Guardant Health looks to cancer analytics for liquid biopsy. Article
Biotech News
@FierceBiotech: ICYMI from FierceBiotechResearch: HIV drug increases therapeutic window for skin cancer by slowing drug resistance. Story | Follow @FierceBiotech
@JohnCFierce: As in everything, GSK moves SOOOOO slowly. CEO Witty will leave March, 2017. No rush. | Follow @JohnCFierce
> J&J takes to Europe with its latest biotech incubator. Story
> Bayer wins FDA approval for a long-acting hemophilia drug. News
> GSK adds Miltenyi Biotec to its oncology shopping CAR-T as Witty checks out. Article
CRO News
> INC snags a Quintiles vet as its new science leader. More
> Covance launches mobile health suite for clinical trials. Report
> PDS Life Sciences launches new FDA data compliance service. Story
> Quotient Clinical expands into Japan after PE buyout. Article
Pharma Manufacturing News
> Contract manufacturer PCT will handle TxCell production in U.S. Item
> European drug regulators find lots of plant issues in first quarter. Story
> China's FDA urged to get track-and-trace system in place. Item
> FDA castigates India's Emcure for routinely faking data. Report
> P&G joins Pfizer and Abbott in fighting India's cough med ban. Article
Pharma Asia News
> Chi-Med raises $101.25M in IPO, joining China's BeiGene on Nasdaq. News
> Abbott India unit, others, get court stay on fixed-dose drug bans. Item
> U.S. biotech Quark's siRNA trials include China, India legs. Report
> Nasdaq exec says biotechs prime Asian unicorns for listings. Story
> India's Lupin hauled up by U.S. FDA for lapses at Goa plant. Article
And Finally... A new report shows Big Pharma conducted hundreds of clinical trials in East Germany during the Cold War. Report