Bayer reports more positive PhIII data for hypertension contender; Shire commits $22M to rare disease alliance in Italy;

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> After reporting upbeat Phase III results in PAH, Bayer has reported success in a late-stage study for patients with inoperable chronic thromboembolic pulmonary hypertension (CTEPH) or those with persistent or recurrent pulmonary hypertension (PH) after surgery with the same experimental drug, riociguat. Release

> Eyeing the growing healthcare market in China, MicuRx Pharmaceuticals, a developer of antibiotics and Shanghai MengKe Pharmaceuticals have formed a joint venture to commercialize a candidate dubbed MRX-I in the Asian country. Item

> Bristol-Myers Squibb ($BMY) fell to a third-quarter loss in part because of its failed Hepatitis C program involving assets acquired in its $2.5 billion buyout of Inhibitex.  Article

> Shire ($SHPG) has pledged $22 million over 5 years to support an alliance with a Italian biomedical charity, the Fondazion Telethon, to research new therapies for rare diseases. Release

> Pearl Therapeutics (a 2011 Fierce 15 company) has wrapped up a final Phase IIb study of its lead COPD therapy called PT003 and selected a dose for late-stage development of the experimental treatment. Release

> Cambridge, MA-based biotech Radius Health, which is developing an osteoporosis therapy, has set a price range of $8.50 to $10.50 for its initial public offering. Report

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And Finally… A new Harvard study highlights to role of genetics in the placebo effect, which has befuddled drug developers for decades. Item