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Diplomat becomes distributor of recently approved cancer drug
FLINT, Mich. — Diplomat has become a distributor of a new cancer drug made by Genentech, Diplomat said Thursday.
The specialty pharmacy company said it had received a distribution contract for Gazyva (obinutuzumab) for chronic lymphocytic leukemia, which received Food and Drug Administration approval on Nov. 1. CLL is a slowly advancing blood and bone marrow disease that, according to the National Cancer Institute, part of the National Institutes of Health, will be diagnosed in 15,680 Americans this year and cause 4,580 deaths.
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Bristol-Myers Squibb sells off diabetes business
NEW YORK — Bristol-Myers Squibb is selling its diabetes business to AstraZeneca for up to $4.3 billion as part of an effort to focus more on specialty drugs, the company said Thursday.
BMS said AstraZeneca would pay $2.7 billion upfront, as well as up to $1.4 billion in milestone payments and up to $225 million on the condition of certain assets being sold. The companies have had a diabetes drug-development partnership since 2007.