1. Biogen completed the spinoff of its biotech business Bioverativ, which focuses on hemophilia and other rare blood disorders. Bioverativ’s hemophilia therapies Eloctate and Alprolix generated a total of $888 million in revenue in 2016.
2. A drug that blocks androgen receptors is being used an add-on treatment to surgery for men with prostate cancer. AstraZeneca, which makes one of these drugs, bicalutamide, sponsored the study. (Stat)
3. Merck reported a 1.4% decline in revenue in the fourth quarter of 2016, due to generic competition for its skin-infection drug Cubicin, allergy treatment Nasonex, and cholesterol drug Zetia. (MarketWatch)
4. AstraZeneca CEO Pascal Soriot is confident the drugmaker will reach its $45 billion annual revenue target in 2023, despite declining sales of its older therapies and uncertainty about pipeline drugs. New cancer drugs such as Tagrisso and Lynparza will likely factor into the drugmaker’s growth. (Reuters)
5. ICYMI: Roche is considering a partial sale or spinoff of its diabetes business, according to anonymous sources reported by Bloomberg. The drugmaker could receive as much as $5 billion from selling the business unit. (Bloomberg)