Photo credit: Celgene

1. Celgene will acquire blood-disease biotech Impact Biomedicines for up to $7 billion. The deal would allow Celgene to resume the development of experimental blood-disease drug fedratinib, which was halted by its then-manufacturer Sanofi in 2013 due to serious side effects. (WSJ)

2. Pfizer said it plans to cut 300 positions from its neuroscience discovery and early development programs in Andover and Cambridge, Massachusetts, and Groton, Connecticut. The moves were prompted by the drugmaker’s decision to halt drug development for Alzheimer’s and Parkinson’s disease. (WSJ)

3. Generic drugmaker Perrigo Company tapped Uwe Rohrhoff as its new CEO. Rohrhoff, who was most recently CEO of German drugmaker Gerresheimer AG, succeeds John Hendrickson, who will step down on January 15. (Reuters)

4. Sanofi and Regeneron said they plan to invest $1.64 billion, which represents an additional $1 billion from their previous commitment, to develop experimental cancer drug cemiplimab. The drugmakers said they also plan to accelerate new studies for Dupixent for the treatment of COPD and peanut and grass allergies.

5. Belgian biotech Ablynx rejected a $3.1 billion bid by Novo Nordisk, saying that it “undervalues Ablynx and its strong prospects.” Ablynx’s experimental drug caplacizumab would complement Novo Nordisk’s hemophilia portfolio. (Bloomberg)