Jack Stoddard has joined the Amazon, Berkshire Hathaway, and JP Morgan Chase healthcare venture as COO. He was most recently GM for digital health at Comcast and cofounded Accolade, a startup backed by Comcast Ventures that helped workers manage their health benefits. Stoddard has also worked at Optum and UnitedHealth. (CNBC)
Scandal-plagued blood-testing startup Theranos is dissolving. The one-time unicorn will pay its shareholders its remaining cash and shut down in the coming months after failing to sell itself. Former CEO Elizabeth Holmes and COO Ramesh Balwani have been charged with fraud for allegedly misleading investors about the accuracy of its blood tests. (Wall Street Journal)
Bayer is considering job cuts and outsourcing as it reviews R&D. Bayer could save enough money via the job cuts to better compete with rivals and buy promising molecules. The R&D review is expected to last until November. (Reuters)
Merck’s virology business got two wins this week, but it may not be a big enough boost. The FDA approved its two HIV drugs, Pifeltro and Delstrigo, but some are not convinced the drugs can compete on the HIV market. Other drugs in Merck’s virology unit, including HIV drug Isentress and hepatitis C treatment Zepatier, have struggled in terms of sales. (BioPharma Dive)
Rudy Giuliani’s consulting firm helped to end an investigation into Purdue Pharma in Florida. Purdue and the state settled the lawsuit six months after the former New York City mayor’s consulting firm was brought on, according to documents. The suit could have exposed Purdue’s marketing tactics for OxyContin in 2002. (Kaiser Health News)
