GlaxoSmithKline plans to buy U.S.-based cancer drug specialist Tesaro for $5.1 billion, giving GSK a marketed product for ovarian cancer, Zejula, which belongs to the PARP inhibitor class. Rival firm AstraZeneca sells a competing treatment, Lynparza. GSK is also selling its Horlicks nutrition business to Unilever for $3.8 billion. (Reuters)

An investigation by the Government Accountability Office has revealed that the FDA has failed to meet the intent of the 35-year-old law establishing rare-disease status for drugs. The GAO found that the FDA is inconsistent and often incomplete when reviewing manufacturer applications for orphan drug designation. The FDA agreed with the GAO’s recommendations to better streamline the process. (Kaiser Health Foundation)

Global Blood Therapeutics and the FDA came to an agreement on an accelerated approval submission for the company’s experimental sickle cell treatment. A clinical trial demonstrated that the drug increased hemoglobin and may reduce the frequency of strokes in patients. Since the treatment received accelerated approval designation, Global Blood will not be required to conduct a trial showing the reduction of strokes until after approval. (STAT)

Johnson & Johnson has acquired argenx’s treatment for acute myeloid leukemia and high-risk myelodysplastic syndromes for $500 million. Argenx will receive $300 million upfront with another $200 million in equity. In Phase I, the drug received a 92% response rate and 42% complete response among 12 patients. (Endpoints)

MM&M announced its inaugural class of Best Places to Work. Read on to see what makes these nine companies stand out from the crowd when it comes to employee satisfaction. (MM&M)