Prana shares jump on Alzheimer's data; Tesaro gains rights to Amgen's ALK tech;

@FierceBiotech: GSK's Witty: Development must be radically restructured in R&D revolution. Report | Follow @FierceBiotech

@JohnCFierce: Lilly's Lechleiter insists there will be no mega mergers for the 543rd time. Beijing report oddly misspells his name. Article | Follow @JohnCFierce

> Shares of Australia's Prana Biotechnology jumped after it announced the publication of new data on the ability of PBT2 to repair the damage in an Alzheimer's affected brain, facilitating the restoration of cognition in Alzheimer's Disease. Prana release

> Tesaro will pay an undisclosed upfront to Amgen in exchange for the right to use the Big Biotech's ALK technology to develop a therapy for small cell lung cancer. Story

> Insmed says the FDA has cleared its IND to conduct a pivotal Phase III clinical trial of Arikace (liposomal amikacin for inhalation) in nontuberculous mycobacteria lung infections. Insmed release

> Meda announced today positive results from a Phase III clinical trial of Dymista (also known as MP29-02), a novel formulation of azelastine hydrochloride and fluticasone propionate, in patients with seasonal allergic rhinitis. Meda release

Pharma News

@FiercePharma: J&J chief hopes missing drugs return by year's end. News | Follow @FiercePharma

> Novartis' Gilenya touches off MS drug price hikes. Report

> Supreme Court lets Matrixx investor suit go forward. Story

Biotech Research News

> Shar-pei DNA reveals new wrinkle in fever disorders. Article

> TB protein discovery could lead to better vax. News

> UK, UMass stem cell banks join forces. Story 

> Bluebird bio's gene therapy hits a high note. Report 

 Manufacturing News

> Little buzz for Obama's track/trace proposal. Item 

> Industry lobbies for foreign plant inspections. Article

> USP, FDA update quality standards for common drugs. Report 

> Genzyme: Fill/finish causes Thyrogen shortage. News

> Consent decree diminishes CEO Weldon's role in McNeil turnaround. Article 

> FDA, EMA team on QbD-based joint reviews. Story

And Finally... In studying Shar-Pei dogs, Swedish geneticists found that the genes responsible for its distinctive wrinkles also cause an increased risk of periodic fever disorder. The more copies of the gene, the greater the risk, scientists found. Story