Exelixis shares surge on fresh cabo data; StemCells buoyed after it gets a green light on eye study;

Biotech News

@FierceBiotech: AstraZeneca's R&D chief in China lays out $100M strategy. Story | Follow @FierceBiotech

@JohnCFierce:  Exelixis is posting some new data on cabo Ib for renal cell carcinoma - est. median PFS of 14.7 months. Release | Follow @JohnCFierce

@FierceMedDev: Study: Hospitals Overpay for Devices--WSJ. Article | Follow @FierceMedDev

@MarkHFierce: Norway will soon be the first country to incorporate genome sequencing into its healthcare system. Why can't the U.S.? Story | Follow @MarkHFierce

> Shares of Exelixis ($EXEL) surged today after the developer put out new data from a Phase Ib study of solid tumors. Investigators estimated median progress-free survival in the study at 14.7 months. Release

> The FDA has given StemCells a green light to launch a study of its treatment for dry, age-related macular degeneration. The news boosted its share price, which has been badly battered over the past year. Report

> Covance ($CVD) inked a three-year, exclusive integrated drug development agreement with BioPontis Alliance to manage early development of scientific discoveries from academia. Covance release

> Millennium Labs says that U.S. District Court Judge Joseph Tauro ordered the dismissal of a whistleblower suit against the company brought by a former Calloway Laboratories' senior officer. Millennium release

Pharma News

@FiercePharma: Japanese drugmakers have been big on M&A. But is it paying off? For Daiichi, not so much--WSJ. More | Follow @FiercePharma

> FDA talks, but doctors don't necessarily listen. Story

> Botox delivers for Allergan, Dr. Reddy's sees big profit increase during quarter. Article

> As blockbuster drugs fade, so does TV advertising. More

> Gloom for the pharma industry, yes. Doom? No. Piece

> Mediator probe rolls on with searches at Afssaps, executives' homes. Item

And Finally... Neurologists at Johns Hopkins say they've come up with a minimally-invasive process to get rid of potentially lethal blood clots in the brain. Release