The news summaries appearing in BIO SmartBrief are based on original information from news organizations and are produced by SmartBrief, Inc., an independent e-mail newsletter publisher. The information is not compiled or summarized by BIO. Questions and comments should be directed to SmartBrief at bio@smartbrief.com.

Today's Top Story

• Roche makes hostile bid for Genentech
  Swiss drugmaker Roche Holding reduced its acquisition offer for Genentech from $89 to $86.50 a share after negotiations with the biotech firm failed. Roche said it plans to take the proposal directly to Genentech shareholders, but a panel of Genentech directors recommended against acting on the hostile bid until a formal opinion is released. Roche Chairman Franz Humer said the lower price reflects market conditions and was not affected by other events, such as Pfizer's purchase of Wyeth. The Wall Street Journal (tiered subscription model) (1/31), NYTimes.com (1/30)

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Health Care in Transition

• Obama to select FDA chief in coming days, spokesman says
  President Barack Obama is set to announce his nominee for FDA commissioner in the next few days, White House spokesman Robert Gibbs said. The statement comes amid mounting pressure on the agency to address product safety. Obama's choice, who would take over for interim chief Dr. Frank Torti, has to be confirmed by the Senate. Reuters (1/30)

• White House may permit cheaper medicines from Canada
  The Obama administration is looking to overturn a policy on prescription-drug imports to allow more affordable Canadian medicines into the U.S. The change would provide patients, particularly older people, with cheaper options, but concerns remain about counterfeit medications tied to stores with access to foreign pharmaceuticals. XETV-TV (San Diego) (1/31)

• Daschle to discuss back taxes with Senate committee
  HHS Secretary-designate and former Sen. Tom Daschle is set today to meet with the Senate Finance Committee to explain $128,203 in back taxes and $11,964 in interest that he paid last month. The payments were for his consultation work as well as the use of a car and driver offered by a Democratic fundraiser during the past three years. President Barack Obama is confident that Daschle will be confirmed and will lead the administration's health care reform efforts, a White House official said. USA TODAY (2/2), Modern Healthcare/The Associated Press (free registration) (1/31), The Washington Post/44 blog (1/30)

• Other News

• Senators eye revisions to $819 billion economic-stimulus plan
  San Francisco Chronicle (2/2)

• Obama administration enlists help from another Harvard health economist
  The Wall Street Journal (tiered subscription model)/Health Blog (1/30)

• Source: House may vote to reauthorize SCHIP without changes
  Modern Healthcare (free registration) (2/1)

Health Care & Policy

• Calif. stem cell agency defers release of $58M in research grants
  The California Institute for Regenerative Medicine's board decided to postpone until March the release of $58 million in research grants, which have been approved for use in training scientists at Stanford University and five other San Francisco-based institutions. The agency cited unfavorable economic conditions and a weak credit market for the delay. San Jose Mercury News (Calif.)/The Associated Press (free registration) (1/31)

• U. of Connecticut scientists add 2 lines to stem cell line pool
  Experts at the University of Connecticut said they have developed two new human embryonic stem cell lines that add more diversity to the current pool. Their work is part of the state government's $100 million program to advance research in embryonic and human adult stem cells. MSNBC/NBCConnecticut.com (2/1)

• Technology can aid doctors in gauging breast cancer survival
  Canadian scientists said they have devised a technology that has more than 80% accuracy in predicting a patient's recovery chances from breast cancer. Called DyNeMo, the technology works by examining protein networks inside tumor cells and identifying signature variations. Canada.com/Canwest News Service (2/1)

Company & Financial News

• Greenwood worried about turnout at BIO conference in Atlanta
  BIO President and CEO Jim Greenwood said he is worried that the attendance for the group's annual conference, which will be held in Atlanta in May, may be smaller this year. Greenwood has informed board members of the Georgia Research Alliance that hotel bookings dropped 40% from the same period in 2008. Charles Craig, president of Georgia Bio, said that despite concerns over the possible effects of the economic downturn on the convention, he is confident that turnout will be close to the levels reached last year in San Diego. American City Business Journals/Atlanta (1/30)

• Sanofi sets sights on acquisition deals
  French drugmaker Sanofi-Aventis reportedly has been in discussions with bankers about potential acquisitions, a week after Pfizer's $68 billion buyout of Wyeth. Sanofi may be eyeing Bristol-Myers Squibb as one of its targets because of their partnership on Plavix, a blood thinner, according to this article. Financial Times (free content) (2/1)

• Reports: GSK to slash at least 6,000 jobs worldwide
  GlaxoSmithKline is expected to announce Thursday that it will eliminate at least 6,000 positions worldwide as part of a restructuring move, according to several U.K. newspapers. The company did not confirm how many jobs will be cut but said the move is not linked to the economic crisis. Financial Times (free content) (2/2), The Times (London) (subscription required) (2/2)

• Development groups team up to generate life sciences jobs in Missouri
  The Kansas City Area Development Council and Regional Economic Development in Missouri are collaborating to create life sciences jobs in the Columbia region. Called the Kansas City Regional Knowledge Partnership, the proposal is focused on attracting businesses involved in bioscience, nanotechnology, nuclear medicine and animal health. Columbia Missourian (1/31)

• Other News

• Gen-Probe offers about $132M to acquire Tepnel Life Sciences
  Forbes/The Associated Press (1/30)

Featured Content

Hot Topics

Top five news stories selected by BIO SmartBrief readers in the past week.

• Sources: Pfizer offers about $68 billion to buy Wyeth (The Wall Street Journal (tiered subscription model))

• Companies prefer options over acquisitions in biotech (Reuters)

• Astellas offers to buy CV Therapeutics for about $1B (The Wall Street Journal (tiered subscription model))

• Life sciences leaders discuss effects of new administration (Mass High Tech (Boston))

• Pfizer-Wyeth merger reflects pressure on Big Pharma (The Wall Street Journal (free content))

• Results based on number of times each story was clicked by readers.

Industrial & Environmental

• Biofuel mandate pushes seed companies to boost crop yields
  Seed companies are seeking to increase production for corn and other crops as the U.S. tries to meet a mandate that requires the blending of 11.1 billion gallons of renewable fuel into gasoline this year. Pioneer Hi-Bred, a unit of DuPont Co., seeks to boost yields of its corn hybrids and soybean varieties by 40% within a decade. Monsanto seeks to double its crop output by 2030. Grand Forks Herald (N.D.)/The Associated Press (2/1)

News from BIO

• Feeling the pinch in today's market hurts
  Let BIO ease your pain with BIO Business Solutions, BIO's cost-savings program, which provides products and services specific to the life sciences industry at discounted prices and other benefits. Participation is free to members of BIO and 38 state/regional biotech associations, and more than 1,900 companies currently use BIO Business Solutions. See how BIO Business Solutions can help your bottom line. Get more information about the 15 money-saving opportunities here.

SmartQuote

No winter lasts forever; no spring skips its turn." --Hal Borland, American author