Top Story

Morning Read: Valeant gets its subpoenas, Theranos doesn’t use its own tech, gene testing breaks $100 barrier

mike pearson valeantTOP STORIES

Embattled Valeant Pharmaceuticals International said it has received subpoenas from U.S. attorneys in Massachusetts and New York relating to its patient assistance programs. That isn’t the only latest Valeant news: It also wrote in a letter to Congress that “there was considerable room to increase the price of both drugs without unduly depleting the funds available to the hospitals from payers.” — Reuters, Wall Street Journal & PR Newswire

Fascinating piece on Theranos, which apparently doesn’t use its own technology for all of its tests. – Wall Street Journal

Genetic testing has busted the $100 barrier, as Huntsville, Alabama-based Kailos Genetics has debuted a full-panel test called PGxComplete. It will be available for the introductory price of $99 through November 30, down from the regular price of $299, the company said. “It’s our goal to give people the ability to understand how medicine will work for them before it is prescribed,” Kailos Chief Scientific Officer Troy Moore said. — WAAY-TV, Business Wire

LIFE SCIENCES

Bristol-Myers Squibb signed a cancer licensing deal with Five Prime Therapeutics worth up to $1.74 billion. – Reuters

British biotech entrepreneurs are worried the sector could be squeezed as the British government looks for savings after a relative public spending boom on the life sciences. – Financial Times

Eli Lilly said that baricitinib, its experimental pill for rheumatoid arthritis, has proven more effective in a clinical trial than Abbvie blockbuster injectable Humira. — Reuters

The FDA has rejected Pfizer’s request to approve RA drug Xeljanz for treating plaque psoriasis. — Reuters

A former University of Pennsylvania cancer researcher has been sentenced to a year in prison for misdirecting federal grant money into his own business. — Philadelphia Business Journal

Cancer-focused biotech firm Galera Therapeutics has completed a $37 million Series B round. — Business Wire

Rosetta Genomics has closed on an $8 million private placement. — Business Wire

Dr. Eric Topol has yet another title for his CV: board member of biopharmaceutical startup MyoKardia. — Business Wire

Viamet Pharmaceuticals has hired Dr. Oren Cohen as chief medical officer, plucking Cohen from Quintiles. — Business Wire

PAYERS-PROVIDERS

Are chief information security officers “healthcare’s new rock stars”? — Healthcare IT News

Jim Roosevelt, CEO of Tufts Health Plan in Massachusetts and grandson of President Franklin Delano Roosevelt, will leave his post Jan. 1. — Boston Business Journal

TECHNOLOGY

A new study suggests that remote home monitoring and other telemedicine services can reduce hospitalizations and emergency visits. — mHealth Intelligence

Private investment firm Platinum Equity is selling mobile diagnostic imaging firm DMS Health to larger competitor Digirad for an undisclosed sum. — PE Hub

Verisk Analytics has retained Morgan Stanley to sell off its healthcare division. — The Deal

As many as 850,000 retail pharmacies in India closed their doors Wednesday in a one-day protest against online pharmacies. — Reuters

POLITICS

Tennessee’s health co-op has shut down – the sixth Obamacare co-op this year. – The Hill

A nice look at how Jeb Bush’s healthcare reform plan could change health IT strategies. – Becker’s Hospital Review

Massachusetts’ health care regulators will begin notifying insurers and providers being flagged for excessive cost growth. – Boston Business Journal

OpenGov, a startup that wants to change how governments analyze and share financial data, closed $25 million. – VentureBeat

A LITTLE BIT EXTRA

Warning: clickbait ahead. Ansell Healthcare Products, maker of Skyn condoms, is suing Reckitt Benckiser for patent infringement, alleging that Reckitt’s Durex RealFeel condom violates the latter’s intellectual property for “Dip-formed Synthetic Polyisoprene Latex Articles with Improved Intraparticle and Interparticle Crosslinks.” That’s a decidedly unsexy way of saying the item in question doesn’t contain latex. — PR Newswire

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