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Police seize 345 kilos of cocaine at Spanish port

Police in Spain have seized 345 kilos (760 pounds) of high-grade cocaine found inside gym bags that arrived on a shipping container at the port of Valencia from Chile, they said Thursday. The cocaine was 85 percent pure, police said, and a government official put its street value at about 30 million euros ($40 million). Police found the drugs this month stuffed inside 10 gym bags in the Mediterranean port of Valencia inside a container that arrived from Valparaiso on Chile's Pacific coast, they said in a statement.

AstraZeneca drugs group says profits halved, blames generics

AstraZeneca, the British pharmaceutical giant, announced on Thursday a halving of net profits in the first quarter, hit by generic competition following the loss of exclusivity for key drugs. Profit after tax slumped to $504 million (365 million euros) in the three months to the end of March compared with $1.011 billion during the first quarter of 2013, AstraZeneca said in an earnings statement.

Two 10-year-olds caught selling grandparents' pot at Colorado school

By Keith Coffman DENVER (Reuters) - Two 10-year-old boys in Colorado were caught selling and swapping marijuana that they pilfered from their grandparents' supplies of legally purchased pot in separate incidents at the same school, a district official said on Wednesday. John Gates, director of safety and security for Weld County School District 6, said a fourth-grade boy at Monfort Elementary in Greeley brought a small amount of marijuana to school on Monday and sold it to three other classmates.

B.C. producer recalls batch of medicinal pot after Health Canada inspection

TORONTO - A B.C. producer of medical marijuana has voluntarily recalled a batch of its "purple kush" strain and is advising consumers not to smoke the weed after a Health Canada inspection of the grower's operations turned up "issues" with its production practices. In what is believed to be the first recall of medical cannabis in Canada, Greenleaf Medicinals of Nanaimo, B.C., is advising clients to immediately stop using any marijuana they still possess from batch number PK-10-20-13.

In latest round of change in pharmaceuticals industry, Novartis inks deals with GSK and Lilly

GENEVA - Swiss pharmaceutical firm Novartis AG launched a major overhaul of its business Tuesday, unveiling a series of multibillion-dollar deals with Britain's GlaxoSmithKline PLC and the U.S.'s Eli Lilly

Shake-up in pharma world as Novartis, GSK announce mega-deals

Drugmakers Novartis and GlaxoSmithKline announced an extreme makeover Tuesday, unveiling multi-billion-dollar deals also involving US group Eli Lilly in a major shakeup of the pharmaceutical sector. The string of takeovers and ventures by the three giant healthcare groups will see Novartis sharpen its focus on the high-grossing cancer sector, GSK boost its share in vaccines and Eli Lilly strengthen its animal health unit.

AstraZeneca cancer pipeline seen as draw for Pfizer

By Ben Hirschler LONDON (Reuters) - Pfizer Inc may come back to bid for British drug company AstraZeneca Plc after its reported 60 billion pound ($101 billion) takeover approach was rejected, since a deal could make sense for the U.S. pharmaceuticals giant as it seeks to build up its cancer franchise.

Sarepta shares soar on new hope for fatal muscle disorder drug

By Esha Dey and Natalie Grover (Reuters) - Sarepta Therapeutics Inc's shares soared 64 percent after it said that the U.S. Food and Drug Administration indicated an alternate path to approval for the company's experimental muscle disorder drug. The news provides a fresh lease of life for Sarepta, whose plans for a marketing approval the regulator deemed "premature" late last year, citing insufficient trial data.

Exclusive: Biogen prices hemophilia drug on par with older therapies

By Bill Berkrot (Reuters) - Biogen Idec Inc is pricing its newly approved long-acting hemophilia drug, Alprolix, to cost U.S. patients, and insurers, about the same per year as older, less convenient therapies whose price can reach about $300,000 annually. The move could pressure rivals such as Pfizer Inc to lower prices for existing hemophilia treatments, which provide patients with life-saving infusions of a blood clotting agent, according to doctors and industry analysts.

New kind of trial aims to speed cancer drug development

By Ben Hirschler LONDON (Reuters) - Scientists and drugmakers are pioneering a new kind of clinical trial that changes the way cancer drugs are studied, potentially cutting both the time and cost of bringing them to market. Instead of testing one drug at a time, a novel lung cancer study announced on Thursday will allow British researchers to test up to 14 drugs from AstraZeneca and Pfizer at the same time within one trial.
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