GSK preps traditional Chinese medicines for the clinic; ImmunoGen jumps on positive cancer data; Lundbeck invests in Biotie;

Conversations on Twitter :

 @FierceBiotech: Respiratory virus tried as targeted cancer treatment. Story | Follow @FierceBiotech

 @JohnCFierce: Want to fix healthcare costs? IOM says there's $750B a year squandered in the U.S. Report | Follow @JohnCFierce

> GlaxoSmithKline ($GSK) is moving forward with plans to set up a special R&D unit in China to develop traditional Chinese medicines. The group is working with academics as it puts traditional remedies to a clinical test. Story

> Shares of ImmunoGen ($IMGN) jumped after the biotech announced positive early-stage data from a small study of its small-cell lung cancer drug IMGN901. Phase II will require 120 patients. Story

> Lundbeck has made a 10 million euro investment in Biotie Therapies and amended its agreement on nalmefene, a new drug for alcoholism. Release

> Australia's Starpharma says that AstraZeneca ($AZN) has signed on to test cancer drugs using its dendrimer molecule nanotech platform.  Story

Pharma News

 @FiercePharma: GSK's Benlysta gets another shot at U.K. market. Story | Follow @FiercePharma

> J&J, Bayer try to answer FDA concerns on Xarelto. Report

> Loss of Makena suit against FDA compounds KV's problems. Article

Medical Device News

 @FierceMedDev: Sony and Samsung are revving up their medtech rivalry. More | Follow @FierceMedDev

 @MarkHFierce: Dx investment continues, this time at Charles River Laboratories. Release | Follow @MarkHFierce

 @DamianFierce: The FDA wants feedback on its four-point plan to improve post-market surveillance for medical devices. Story | Follow @DamianFierce

> New York devicemakers look to China for sales. Report

> Device tax opponent downgrades from 'repeal' to 'delay.' Item

And Finally… New research indicates that red wine may help reduce blood pressure, but only if it's non-alcoholic. Story

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