Bristol-Myers back on the hep C breakthrough track; Advaxis and Sorrento team up in oncology;

@FierceBiotech: J&J buys into Achillion's hep C pipeline for up to $1.1B. Story | Follow @FierceBiotech

@JohnCFierce: $ACHN down 3% -- disappointed investors hoping for a phenom buyout? Strange times when a $1.1B development deal looks weak. #biotech | Follow @JohnCFierce

> The FDA has reinstated it breakthrough-therapy designation for Bristol-Myers Squibb's ($BMY) daclatasvir when used in tandem with Gilead Sciences's ($GILD) blockbuster Sovaldi. More

> Advaxis ($ADXS) and Sorrento Therapeutics ($SRNE) have signed a deal to study their oncology assets in tandem. News

> Still stinging from an FDA rejection, Aveo Oncology ($AVEO) believes it has found a path forward for the kidney cancer drug sorafenib. Item

Medical Device News

@FierceMedDev: MD Anderson Cancer Center partners to start breast cancer pilot project using Apple Watch. More | Follow @FierceMedDev

@VarunSaxena2: EuroPCR TAVR updates: Edwards' Sapien 3 looking good, Direct Flow jostling for position, and more (from $MDT & $BSX). News | Follow @VarunSaxena2

@EmilyWFierce:  Cypher teams up with biotech titan Celgene for companion diagnostics collaboration. Article | Follow @EmilyWFierce

> China's Sinocare interested in buying Bayer diabetes device unit. More

> Eli Lilly leads Series B for startup with connected insulin pen, smartphone app combo. News

Pharma News

@FiercePharma: FDA proposes new rules for animal drug compounding. FierceAnimalHealth story | Follow @FiercePharma

@EricPFierce: #FDA blesses Baxter #saline plant in Spain for shipments to U.S. of  0.9% sodium chloride. More | Follow @EricPFierce

@CarlyHFierce: Actavis wins more hearts on Wall Street as 'top 4' Morgan Stanley pick. News | Follow @CarlyHFierce

> Should Pfizer snap up GSK? Well, a megadeal could speed up a split. More

> J&J promises new uses for old meds to keep pharma sales flying high. Report

Pharma Marketing News

> Medivation's Xtandi sales fell short in Q1, but analysts say it's gaining on J&J's Zytiga. Report

> GSK pumps out big bucks for Flonase OTC launch. More

> Awareness isn't enough: Pharma needs to focus on action campaigns. Story

> Litany of side effects in DTC ads 'a waste of time' for patients, top FDA official says. Article

> Report: When it comes to overall patient care, Eylea gets the pricing edge over rival Lucentis. Item

Biotech Research News

> Prothena's university collaborators tout the success of a preclinical MS therapy. More

> UC Irvine researchers use transplanted neurons to rejuvenate mouse brains. Story

> Liverpool scientists point to a new heart therapy for deadly pneumonia toxin. Article

> Telomerase study points researchers to targeted cancer drugs. Item

> UIC team spurs fresh hope for an islet-cell cure for Type 1 diabetes. Report

Diagnostics News

> Broad Institute gets $10M to study genetics of cancer drug resistance. More

> Illumina slaps Roche's Ariosa with a prenatal testing IP suit. Report

> Cypher teams up with biotech titan Celgene for companion diagnostics collaboration. Story

> Roche snags FDA CLIA waiver for rapid Strep A test. Item

> Veracyte reveals positive numbers for lung cancer test in NEJM. Article