Korea Takes Steps To Consolidate Domestic Pharma Industry And Reward Innovation / Korea’s Ministry of Health and Welfare announced goals to reshape its pharma industry as it aims to be among the top seven pharma-strong countries by 2020. / “The Pink Sheet” DAILY Jan. 27, 2012

Verastem Joins The Public Markets With A Strong IPO / Verastem IPO’d at $10 per share on Jan. 26, despite having only preclinical assets in its pipeline. Strong interest from large companies for cancer stem cell therapies helped contribute to the price. / “The Pink Sheet” DAILY Jan. 27, 2012

Financings Of The Fortnight Applies Its Own Lens To Early-Stage Investments / Plus news on recent financings by Neurocrine Biosciences, Prosensa, RaNA Therapeutics and Trius Therapeutics. / “The Pink Sheet” DAILY Jan. 27, 2012

Watson’s Generic Lovenox Launches At Risk; Will Sanofi’s Authorized Generic Follow? / An appeals court lifted a preliminary injunction that blocked Amphastar and U.S. marketing partner Watson from selling their generic version of Sanofi’s blood thinner. Watson is to launch immediately in the U.S. / “The Pink Sheet” DAILY Jan. 26, 2012

LEO Plays Up Rapid Action Of Picato For Actinic Keratosis / Newly approved plant-based gel works in just a few days of treatment, rather than the weeks required for some competitors. / “The Pink Sheet” DAILY Jan. 26, 2012

HHS Proposed Drug Coverage Standard For State Exchange Plans Is Well Below Currently Available Coverage – Avalere Study / Study finds that HHS’ proposed minimum standard of one drug per class on plan formularies could result in drug coverage that is significantly more limited than what is currently offered in the individual and small group market. / “The Pink Sheet” DAILY Jan. 26, 2012

Despite Early Yervoy Success And Promise Of Eliquis, BMS Predicts Overall Net Sales Decline For 2012 / With top-seller Plavix about to go off-patent in May, Bristol lowers expectations for 2012 sales while talking up its pipeline strength. / “The Pink Sheet” DAILY Jan. 26, 2012

Amgen Gobbles Up Micromet In $1.16 Billion BiTE / With the acquisition of Micromet, Amgen gains a Phase II asset for hard-to-treat hematologic malignancies and a promising antibody platform known as Bispecific T cell Engager (BiTE). / “The Pink Sheet” DAILY Jan. 26, 2012

Celgene Bolsters Pipeline With Avila Acquisition / Celgene will acquire the Massachusetts biotech for $350 million upfront plus $575 million in potential milestones related to Avila’s lead compound as well as other compounds to emerge from its technology platform. / “The Pink Sheet” DAILY Jan. 26, 2012

Ariad: Worth Watching As Its Pipeline Matures / On the verge of getting its first chance at being a commercialization company, Ariad has lofty plans to become a global leader in oncology. / “The Pink Sheet” DAILY Jan. 26, 2012

For Novartis, 2012 Is Set To Be A Bumpy Ride / With the loss of exclusivity for its blockbuster heart drug, Diovan, coming in September, management focused on the company’s long-term prospects during a fourth quarter financial update. / “The Pink Sheet” DAILY Jan. 25, 2012

Ranbaxy Must Withdraw Several ANDAs Under DoJ Consent Decree; Will Lose 180-Day Exclusivity On Others / Three executives are named in the complaint, which the government calls “groundbreaking in its international reach.” The complaint cites GMP problems at four Ranbaxy facilities, three in India and one in New York, and says the company submitted false data in drug applications. / “The Pink Sheet” DAILY Jan. 25, 2012

Pressure Mounts For Amylin As Bydureon PDUFA Approaches / With declining sales of Byetta, Amylin has staked its near-term future on the performance of Bydureon, a long-acting formulation of the active ingredient in Byetta. / “The Pink Sheet” DAILY Jan. 25, 2012

Eli Lilly, Jubilant JV Called Off; Untimely Split Points At Rough Ride / Jubilant will absorb the joint venture as Lilly steps down, despite enthusiasm for Indian partnerships. / “The Pink Sheet” DAILY Jan. 25, 2012

J&J’s Incivo Shows “Hints” Of Added Benefit, Says Germany’s IQWiG / IQWiG concludes that J&J/Vertex’s new Hep C drug Incivo might be helpful in certain patient groups, but the German HTA body questions the validity of a widely-used surrogate efficacy measure. / “The Pink Sheet” DAILY Jan. 25, 2012

“Critical” Drug List Would Be Created Under Shortages Bill / Draft bill being developed by Rep. John Carney, D-Del., also would create system to notify the public and other manufacturers of pending shortages. / “The Pink Sheet” DAILY Jan. 25, 2012

Novartis Settles Sales Rep Overtime Suit Rather Than Await Supreme Court Ruling / Novartis agrees to pay $99 million to resolve a class action on behalf of 7,700 current and former sales representatives. The company changed the duties of its reps and cut their work hours after the suit was filed. / “The Pink Sheet” DAILY Jan. 25, 2012

Valeant Includes OTCs In Bid For Dramatic Growth By 2013 / The Ontario-based firm has its sights set on becoming a top-15 pharma company with a $50 billion market capitalization by the end of 2013. Emerging markets and consumer health products, including the recent iNova and Fleming deals, play a big part in Valeant’s plans. / “The Pink Sheet” DAILY Jan. 25, 2012

Vytorin/Zetia Affirmation Continues To Elude Merck With Denied CKD Indication / FDA shot down Merck’s bid to add an indication for cardiovascular risk reduction in renally impaired patients to Vytorin (ezetimibe/simvastatin) labeling, arguing the contribution of the two components to positive results wasn’t measured in the pivotal SHARP trial. Trial data can be added to the Vytorin label but not to labeling for Zetia (ezetimibe). / “The Pink Sheet” DAILY Jan. 25, 2012

Watson Pulls Prochieve From Guidance, But Pushes For Approval / Despite a disappointing advisory committee review for its progesterone gel for preterm birth, Watson said it will continue to push for approval. The company also bolsters its Australian generics business with the acquisition of Ascent. / “The Pink Sheet” DAILY Jan. 25, 2012