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BASEL, Switzerland — Novartis has chosen a successor to CEO Joseph Jimenez, who will be stepping down from the position in 2018 after 8 years in the position. The company has named its current global head of drug development and chief medical officer, Dr. Vasant Narasimhan, as CEO, effective Feb. 1, 2018.

Jimenez joined Novartis in 2007, leading its consumer health division before becoming head of the Novartis Pharmaceuticals division. He will step down, effectivt Jan. 31, 2018 aand remain available until his retirement on Aug. 31, 2018.

FOSTER CITY and SANTA MONICA, Calif. — In a deal estimated at roughly $11.9 billion, Gilead Sciences will be acquiring leading cell therapy company Kite Pharma for $180 per share, the companies announced last week. Among the potential treatments Gilead will acquire is Kite’s most advanced therapy candidate, axicaabtagene ciloleucel (axi-cel), a cancer-fighting therapy expected to be the first to market to treat refractory aggressive non-Hodgkin lymphoma, with a decision date of Nov. 29.

WASHINGTON — Earlier this week the U.S. Food and Drug Administration approved Chemo Research's New Drug Application for benznidazole. This is the first drug ever approved by the FDA to treat Chagas disease.

Benznidazole is an essential medicine for Chagas disease, a parasitic disease that affects an estimated 6 million to 8 million people worldwide. In the United States, an estimated 300,000 people are living with Chagas disease. Previously, it was available through the Centers for Disease Control and Prevention, but was not FDA approved.

INDIANAPOLIS — Eli Lilly and Incyte Corporation on Wednesday announced that, after discussions with the U.S. Food and Drug Administration in late August, Lilly will resubmit the New Drug Application for baricitinib before the end of January 2018. The resubmission package will include new safety and efficacy data.

SILVER SPRING, Md. — The U.S. Food and Drug Administration earlier this week approved Rempex Pharmaceuticals' Vabomere for adults with complicated urinary tract infections, including a type of kidney infection, pyelonephritis, caused by specific bacteria.

Vabomere is a drug containing meropenem, an antibacterial, and vaborbactam, which inhibits certain types of resistance mechanisms used by bacteria.

WASHINGTON — The Pharmaceutical Research and Manufacturers of America on Wednesday announced Richard Moscicki will join the organization as chief medical officer and EVP. He will lead the organization's science and regulatory advocacy efforts beginning in early October 2017.

BASEL, Switzerland — Novartis may have the next blockbuster drug in development, as recent research has found its anti-inflammatory prospect may lower the risk of both heart disease and cancer.

Novartis on Saturday revealed primary data from CANTOS, a Phase III study evaluating quarterly injections of ACZ885 (canakinumab) in people with a prior heart attack and inflammatory atherosclerosis.

BARCELONA, Spain — A 14 year study in more than one million people has found that women with high cholesterol have significantly lower rates of breast cancer and improved mortality. The research, presented earlier this week at ESC Congress, suggests that statins are associated with lower rates of breast cancer and subsequent mortality.