Portola prices biotech IPO; Quintiles investment spinoff nabs $80M;

 @FierceBiotech: NGM raises $13M for cardio/metabolic R&D work. Item | Follow @FierceBiotech

 @JohnCFierce: Astellas, VCs stake virtual biotech spinout with $15M and a PhII program. Release | Follow @JohnCFierce

 @RyanMFierce: Pfizer opts to keep running Accelrys software in its labs. Article | Follow @RyanMFierce

> Portola Pharmaceuticals has set a range of $13 to $16 a share for the 6.9 million shares it plans to sell in a $100 million IPO. Report

> The Seattle-based Accelerator Corp., which finances and launches biotech companies, has plans to open up a second location in New York. Story

> Quintiles spinoff NovaQuest Capital has raised an additional $80 million from investors. The finance group invests in late-stage and commercial assets. Report

> GW Pharma has won approval for Sativex in Italy. Story

> Sanofi Canada officially opened a new headquarters in Laval, Quebec, where the company has operated since 1968. Article

Medical Device News

 @FierceMedDev: Hologic slashes outlook as losses widen. Report | Follow @FierceMedDev

 @MarkHFierce: Dx test maker Quidel now owns BioHelix, for $10M, plus milestone payments. Item | Follow @MarkHFierce

 @DamianFierce: Medtronic won FDA approval for two new cardiac devices. Story | Follow @DamianFierce

> Mindray soars in Q1 with 21% Dx growth. Report

> Mass General repurposes cancer Dx tool for multiple use. DxExtra

Pharma News

 @FiercePharma: Lilly salesforce cuts to be deeper than expected, Indy Biz Journal says: 1,624 jobs, or 40%, not 30%. Report | Follow @FiercePharma

 @EricPFierce: Eli Lilly's CEO John C. Lechleiter will have surgery and be out for some weeks. Release | Follow @EricPFierce

> Don't confuse Kadcyla with Herceptin, FDA says. More

> Lilly CEO set for surgery on dilated aorta; CFO steps up temporarily. Article

> DEA finally acts on Belviq, clearing Arena for diet drug's launch. Article

Pharma Manufacturing News

> Pfizer sells Viagra online to take away play by counterfeiters. Item

> Novo investing $67M in Denmark plant. Article

> J&J dealing with OTC manufacturing issues on 3 continents. Story

> Sagent buys full control of China plant. News

Biotech Research News

 @EmilyMFierce: New molecule could be potential therapy for muscular dystrophy. More | Follow @EmilyMFierce

> Inhibiting a protein could provide new avenue for antidepressant drug development. Report

> Genetic 'switch' could halt aggressive cancer growth. More

> Scientists create more accurate animal model of Type 2 diabetes. Story

> Mayo Clinic develops drug that stops growth of kidney cancer. Article

And Finally… A new survey finds that the top 25 pharma companies in India spend an average of only 6% to 7% of total sales on R&D. Story