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Aerie shares crushed after glaucoma therapy flops in PhIII

Two months ago Aerie Pharmaceuticals CEO Vicente Anido was boasting to Reuters that his late-stage therapy for glaucoma, Rhopressa, was on track to an approval with a clear shot at earning $1 billion a year. On Thursday evening, he was forced to mount a defense of the drug after conceding defeat in a key Phase III study and watching shares plunge 66% in a rout.

Sanofi dumps an ImmunoGen cancer drug as it scales back in oncology

Sanofi is again trimming its oncology pipeline, walking away from an armed-antibody cancer treatment licensed from ImmunoGen as it reshapes its approach to the field.

Regeneron, Alnylam help drive a $2B spike in biotech R&D spending

While many Big Pharma companies continued to whittle away at their multibillion-dollar R&D operations over the past year, laying off thousands of researchers, a group of midcap biotechs is helping to pick up the slack, according to a new report from GlobalData. And some big spenders like Regeneron and Alnylam led the way, helping drive up the group's total research spending by $2 billion, or 26%, to $9.7 billion.

Seattle Genetics is staffing up with eyes on a big year

Seattle Genetics is looking to recruit roughly 100 new workers throughout its operations, the company said, accelerating its pipeline of armed antibody candidates.

Amgen, AstraZeneca prep a brodalumab pitch--after scuttling asthma program

Amgen and its partner AstraZeneca are winding up to deliver U.S. and European applications for their big blockbuster hopeful brodalumab for plaque psoriasis by midyear. But their last shot to push ahead with the drug in asthma ran into defeat, with Amgen announcing Tuesday afternoon that it pulled the plug on a Phase IIb following a futility assessment.

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