Cana­da hands Sanofi, Re­gen­eron their first OK for sar­ilum­ab; Rigel rais­es $40 mil­lion

• The FDA stiff-armed Sanofi and Re­gen­eron’s rheuma­toid arthri­tis drug sar­ilum­ab, but Cana­di­an of­fi­cials were hap­py to give the drug its first reg­u­la­to­ry green light. The FDA’s CRL was point­ed to some man­u­fac­tur­ing prob­lems at Sanofi, which it’s been work­ing to over­come.  But most an­a­lysts ex­pect a near-term US ap­proval.

• Cerulean $CERU went 0 for 2 in Phase II last year, forc­ing a re­struc­tur­ing that elim­i­nat­ed half of its jobs. Now the com­pa­ny — which had $38 mil­lion in cash at the end of Sep­tem­ber — is fol­low­ing up with a look at its strate­gic al­ter­na­tives.

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