Duke sets up $20M translational research fund; Sagent raises $92M in IPO;

 @FierceBiotech: Novartis yanks European app for Cox-2 pain drug. News | Follow @FierceBiotech

 @JohnCFierce: Novartis' Ph3 success advances blockbuster COPD program. Item | Follow @JohnCFierce

> Duke University and the Walter H. Coulter Foundation have joined hands to create a $20 million endowment that will be used to help drive academic biotech discoveries into the marketplace. "This program started out as a grand experiment to link the relatively new discipline of biomedical engineering to translational research," said Sue Van, president of the foundation. "With the capabilities and financial sustainability of this endowment, Duke is now a champion at the forefront of translational research and can systematically and successfully move innovation out of the university to benefit humanity." Duke release

> Sagent Pharmaceuticals, which makes a number of generic injectable drugs, priced its IPO at $16, the high end of the range, as it raised $92 million from the offering. The company also raised the number of shares on sale from 5 million to 5.7 million. Report

> Xconomy takes a look at the large family tree of biotech companies set up by MIT's Robert Langer and Polaris over the years. Report

> Amira Pharmaceuticals has won orphan drug status for its IPF program. Story

Pharma News

@FiercePharma: U.S. drug spending grows at anemic 2.3% in 2010. News | Follow @FiercePharma

> New generics quickly grab 80% of sales volume. News

> J&J asks for "small" penalty in S.C. Risperdal case. Report

> J&J defends executive pay to institutional investors. Article

> ViroPharma's FDA challenge dismissed by federal court. Item

> FDA orders painkiller firms to help combat abuse. Story

Drug Delivery News

> EU gives consortium $1.6M for ultrasound-triggered drug delivery. News

> Novartis has big plans for SmartPills. Report

> Polysaccharides offer a sweet way to deliver arthritis meds. Story

> Injectable gel promises on-demand, long-term delivery of arthritis medication. Item

>  DNA origami unfolding for drug delivery. Report 

> Simple electrical on/off switch controls drug-delivering membrane. Article 

Medical Device News

> Roche gets FDA OK for HPV test. Story

> St. Jude's Q1 results beat expectations. Item 

> Stryker sees profit slip as sales rise. News 

> Neoprobe's largest investor to drop proxy fight threat. Article 

> Medtronic introduces new product for drawing bone marrow. Story

> Anulex sees layoffs after FDA warning letter. Report

And Finally... A new government panel with broad powers to rein in Medicare spending has attracted some heavyweight opponents in Washington. Report