Merchant bank and life sciences investor Burrill & Co. said it will begin investing its fourth life sciences fund, Burrill Capital Fund IV, with the first $313 million of a proposed $500 million in hand. The firm, which recently enjoyed a strong exit when Gilead acquired its portfolio company Pharmasset, hopes to reach its fundraising goal within six months.
FDA signaled it is willing to be flexible about deadlines for manufacturers to include new safety information in the printed versions of prescription drug labels on marketed product, depending on how serious and new the information is, supply chain factors, and other considerations.
The Medicare Payment Advisory Commission votes to recommend that Congress increase the difference between copayments for generic and branded drugs used by low-income beneficiaries in Medicare Part D to encourage greater generic use in that population.
Vertex Pharmaceuticals announced a succession plan Dec. 15, with board member Jeffrey Leiden pegged to move into the CEO position, effective Feb. 1, 2012, as current CEO and Chairman Matthew Emmens will transition out of the role and into retirement next May. Leiden is a former president and COO at Abbott, where he oversaw the launch of Humira.