Spotlight On... McKesson to chop 1,600 jobs as it sees price hikes for generic drugs slow; Bayer nabs U.S. approval for hemophilia A med Kovaltry; India's Biocon strikes generic insulin development pact; and more...

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