Lilly's new insulin is likely DOA after latest delay, analyst says

Eli Lilly's already-delayed new insulin has run into another roadblock, as potentially harmful liver side effects have sent the company back to the clinic, putting off a potential regulatory filing by a year or more and leading a top analyst to eulogize the program.

Celldex jumps after gaining an FDA 'breakthrough'

Shares of Celldex Therapeutics shot up 20% this morning after the biotech announced that the FDA had provided its breakthrough therapy designation for rindopepimut (Rintega), an experimental drug for patients with EGFRvIII-positive glioblastoma.

UPDATED: Merck KGaA carves into MS R&D after a string of setbacks

After seeing its reputation as a leader in multiple sclerosis erode over recent years, Merck KGaA has decided to carve back the number of staffers working in preclinical R&D in the field.

UPDATED: Bristol-Myers bags IDO immunotherapy in $1.25B buyout of fledgling Flexus

Bristol-Myers Squibb is gambling $800 million upfront to gain control of a preclinical IDO1 immunotherapy that shows promise in treating cancer, buying out San Carlos, CA-based Flexus with another $450 million set aside for milestones.

Chiesi gains a pioneering marketing OK for stem cell therapy

The European Commission has waved through the continent's first stem cell therapy, providing conditional marketing approval for what is essentially a new lens that can be fashioned out of a patient's own cells and used to restore sight in people whose eyes have been severely damaged.

Merck bets big on NGM with a $450M handshake

Taking a page from famed partners like Sanofi and Regeneron and Roche and Genentech, Merck has signed a sweeping R&D deal with biotech NGM Biopharmaceuticals, promising up to $450 million for 5 years of pipeline-building collaboration.

$400M buyout deal puts Heptares' GPCR pipeline in Sosei's hands

An expansive-minded Sosei has swooped in to buy Heptares Therapeutics, a U.K.-based biotech that's been at work building a pipeline of G protein-coupled receptor-targeted drugs with a slate of some of the world's biggest pharma partners.

Valeant buys Salix for $10B, preps a cut in R&D costs and overhead

Much as expected, M&A leader Valeant has bagged Salix Pharmaceuticals in a buyout and now plans to slash into its research and development budget to help pay for the deal.

Exclusive: Regeneron, Sanofi outline promising PhIIb data for top blockbuster pick dupilumab

Regeneron and its close partner Sanofi have posted another set of promising results for dupilumab--which targets the interleukin-4 and interleukin-13 inflammatory proteins--from a Phase IIb study that backs up those high expectations.

UPDATED: Cellectis files for $115M IPO as CAR-T tech sizzles

PARIS--Paris-based Cellectis has followed through with plans for an IPO in the U.S., filing Friday to raise $115 million in the hot American market as it pushes ahead on CAR-T research.

Sanofi's got a new CEO. Now what?

Sanofi has made official what's no longer news, trotting out Olivier Brandicourt as its next chief executive. Stepping in on April 2, the experienced Frenchman inherits a wealth of commercial challenges, a quixotic relationship with local regulators and a make-or-break pipeline the company believes can bring in $38 billion over 5 years.

Cerecor picks up a Lilly antidepressant with ambitions in addiction

Cerecor acquired the rights to an Eli Lilly antidepressant, planning to take the drug into Phase II as a treatment for addictive disorders. 

Ex-Merck analyst cops to insider trading in Idenix, Ardea buyouts

The former Merck employee charged with profiting off of M&A secrets has pleaded guilty to biotech's latest insider trading scandal.

Ariad activists rabble for Berger's job and mount a proxy fight

Activist investor Alex Denner has made the rumors official: He wants Ariad Pharmaceuticals CEO Harvey Berger out, and he's willing to mount a proxy fight to get his way.

Novo Nordisk's game-changing oral diabetes drug clears Phase II

Novo Nordisk's new oral diabetes drug measured up to its injected counterpart in a midstage study, promising results the company heralds as a milestone in the field.

Sanofi's CEO search leads to Brandicourt

Welcome to this week's Chutes and Ladders, our roundup of hirings and retirings throughout the industry. Please send the good word--or the bad--from your shop to Michael Gibney (email | Twitter)...

Biotech bonanza helps Bessemer roll out a $1.6B venture fund

Bessemer Venture Partners is rolling out a global fund with $1.6 billion to invest in a range of new technologies--including biotech.

Novartis makes Israel a priority, U.K. dreams up Alzheimer's R&D hub, Shire defends tax model

In this week's EuroBiotech Report, Novartis is getting deeper into the Israeli biotech scene, tasking BioLineRx with keeping tabs on local startups after realizing it was underexposed to the country. Alzheimer's Research UK thinks it will find the next dementia drug in the "golden triangle" of Cambridge, London and Oxford. And more.

Actavis has an eye on more deals, for 'couple billion dollars' or so

Actavis, still awaiting the close of its $66 billion buyout of Allergan, is on the lookout for more bolt-on acquisitions.

Biotech IPOs slump as Inotek comes in low and Carbylan strikes out

The frothy market for biotech debuts is looking a bit less promising this week as one entrant priced well below its hoped-for range and another called off its IPO altogether.