| Today's Top Story |  |  | | - Investors renew interest in biotech amid sluggish economy
A dozen biotech firms have floated initial public offerings so far this year, and the stocks have outperformed the Nasdaq Composite Index since the first quarter of 2011. IPOs can help young companies survive and expand research capacity, and rising confidence can attract money from investors who do not specialize in health care. An overall sluggish economy might be helping the biotech sector, where "earnings tend to grow independently of the economy, unlike electronics or consumer products," said Eric Schmidt, an analyst at investment bank Cowen and Company. Nature (11/14)       | Health Care & Policy | | | | - EU approves first of a new class of diabetes drugs
The European Commission approved Bristol-Myers Squibb and AstraZeneca's Forxiga, or dapagliflozin, to treat adults with type 2 diabetes. The decision makes Forxiga the first approved treatment from a new class of drugs called SGLT2 inhibitors. Forxiga, which works independently of insulin to regulate blood sugar, can be taken in combination with other type 2 diabetes drugs, or as a standalone therapy for patients who can't tolerate metformin. In January, the FDA did not approve the drug over concerns about liver and cancer risks. Reuters (11/14), The Miami Herald/The Associated Press (free registration) (11/14) - World Diabetes Day puts focus on need for more breakthroughs
 The paradoxical success and inadequacy of diabetes research are highlighted by the yearly observance of World Diabetes Day on Nov. 14, writes Eli Lilly and Co. chairman, president and CEO John C. Lechleiter. Today's diabetes treatments illustrate medical innovation's power to save lives, but with today's growing global surge of obesity, new breakthroughs are no less urgently needed than 90 years ago, Lechleiter writes. Forbes (11/14) - Criticized at hearing, FDA calls for new authority
The FDA needs new authority over drug compounders to prevent disasters such as the meningitis outbreak tied to tainted custom-made drugs from the New England Compounding Center, FDA Commissioner Dr. Margaret Hamburg told members of a House Energy and Commerce subcommittee. The present system "hampered our ability to act to protect patients and prevent, rather than just react to, safety concerns," Hamburg said. Several lawmakers sharply criticized the FDA, and committee Chairman Fred Upton, R-Mich., faulted the agency for not following up after finding problems years ago. The Hill/Healthwatch blog (11/14), The Washington Post (11/15) | Company & Financial News | | | | | Industry Deals | | | | - GSK, Alacris collaborate on R&D of cancer drugs
Alacris Theranostics and GlaxoSmithKline entered into an agreement to use the former's ModCell technology to discover and develop new cancer drugs. Under terms of the deal, GSK will supply Alacris with preclinical biology data from a cancer drug discovery project. Alacris will suggest cell lines and cancers that may be likely respond to inhibitors. GenomeWeb Daily News (free registration) (11/14) | Food & Agriculture | | | | - Genome map finds targets for disease resistance in pigs
Scientists sequenced the genome of the domesticated pig and identified genes that could guide breeding for improved disease resistance. The data, published in the journal Nature, "can ultimately help producers breed high-quality swine, lower production costs and improve sustainability," said Sonny Ramaswany, director of the Department of Agriculture's National Institute of Food and Agriculture. The study could also lead to more extensive use of pigs for drug testing. "In total, we found 112 positions where the porcine protein has the same amino acid that is implicated in a disease in humans," researchers said. Reuters (11/14) | Industrial & Environmental | | | | - Propel Fuels, Solazyme roll out algae-based fuel in Bay Area
Propel Fuels and Solazyme have joined forces to introduce algae-based biodiesel at four filling stations in the San Francisco Bay Area, becoming the first in the world to make the product commercially available. The algae-based fuel is sold at about the same price as regular diesel in California. "We hope to build hundreds of stations like this in California," said Propel Fuels CEO Matt Horton. San Francisco Chronicle (11/13)  | |  | | The Buzz(CORPORATE ANNOUNCEMENTS)
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| News from BIO | | | | - Ship with FedEx
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