Health News Roundup: U.S. Mayo Clinic partners with Abu Dhabi to operate hospital; Teva partners with Israeli institutes for early-stage drug research

Following is a summary of current health news briefs.

CymaBay Therapeutics scraps two studies of liver drug; shares plunge

CymaBay Therapeutics Inc said on Monday it was scrapping two mid-stage trials of its liver disease drug, after biopsies found a type of liver damage in some patients, sending its shares down over 75%. The drug developer said it had observed "atypical" findings from the first set of liver biopsies, including autoimmune hepatitis, in one mid-stage trial that was testing the drug in patients with a fatty liver disease known as non-alcoholic steatohepatitis (NASH).

FDA approves Global Blood Therapeutics's sickle cell disease drug

The U.S. Food and Drug Administration said on Monday that it had approved Global Blood Therapeutics's drug, Oxbryta, to treat sickle cell disease in adults and pediatric patients aged 12 years or older. The disease is a lifelong, inherited blood disorder in which abnormally shaped red blood cells restrict flow of blood in vessels, leading to severe pain and organ damage.

U.S. Mayo Clinic partners with Abu Dhabi to operate hospital

Abu Dhabi has partnered with U.S. non-profit organization Mayo Clinic in a joint venture to operate one of the largest hospitals in the United Arab Emirates as it seeks to become a regional hub for world-class healthcare. State-owned Abu Dhabi Health Services Company (SEHA) and Mayo Clinic said on Sunday they would operate Sheikh Shakhbout Medical City, one of the UAE's largest hospitals for patients with serious or complex medical conditions.

Roche eyes quick FDA approval in SMA race with Biogen, Novartis

Roche expects its risdiplam medicine for spinal muscular atrophy (SMA) to get U.S. approval by May, the Swiss drugmaker said on Monday, as it takes on Novartis and Biogen in the lucrative rare disease area. The U.S. Food and Drug Administration granted priority review for risdiplam, an oral medicine for those with the potentially deadly muscle-wasting disorder. Roche, whose drug is seen as a rival for Biogen's Spinraza and Novartis's Zolgensma gene therapy, said the FDA is due to decide by May 24.

Adamis shares slump as FDA declines to approve opioid overdose treatment

Adamis Pharmaceuticals Corp said on Monday the U.S. Food and Drug Administration declined to approve its opioid overdose treatment, Zimhi, sending its shares plunging 56%. In a so-called complete response letter (CRL), the FDA questioned the treatment's chemistry, manufacturing and controls process, but not its safety or effectiveness, the company said.

India courts private hospitals to boost insurance program

India will offer incentives to private hospitals to take part in the government's health insurance program, potentially the biggest of its kind in the world, a senior government official told Reuters. Launched last year, the scheme is critical to Prime Minister Narendra Modi's plans to reform the country's health system, where private healthcare is too expensive for most people and public hospitals are overburdened and often dilapidated.

Blackstone to invest $400 million in gene therapy venture with Ferring

Blackstone Group Inc said on Monday it will invest $400 million in a joint venture with Swiss drug company Ferring that is working on an experimental gene therapy for bladder cancer, the private equity giant's largest ever bet on drug development. Investing in yet-to-be-approved medicines is a lucrative but also risky proposition for buyout firms, and only few have had the stomach to place such bets. Blackstone made its foray in the sector last year, acquiring Clarus, an investment firm specializing in life sciences.

New Roche flu drug can drive resistance in influenza viruses: researchers

Roche's influenza treatment Xofluza, a one-dose pill that can clear flu symptoms within days, may cause a mutation of the virus that leads to drug resistance, researchers reported on Monday. Results of their study suggest that common flu strains can quickly acquire resistance to the drug. They caution patients who receive it - especially children - should be watched for drug resistance.

Teva partners with Israeli institutes for early-stage drug research

Teva Pharmaceutical Industries on Monday signed research agreements with two leading Israeli academic institutes, a move to boost its early-stage drug development with a focus on cancer treatments. The world's largest generic drugmaker has been looking to expand its specialty portfolio and said it is seeking more than 400 new laboratories within Israeli academia.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)