The U.S. Senate voted 72-18 to confirm Stephen Hahn, MD, as the new FDA Commissioner. The news has been well received by industry advocacy groups like AdvaMed and professional societies like the American Heart Association. Hahn is a radiation oncologist who specializes in treating lung cancer and sarcoma.
The company plans to sell most of its drug-delivery business to an affiliate of Altaris Capital Partners for $650 million plus a 17% noncontrolling interest in the new company. 3M will, however, keep its transdermal drug delivery components business. The company created the drug-delivery division in 2000.
W.L. Gore & Associates is investing in PhysioLogic Devices, a startup developing an implantable intraperitoneal insulin delivery system. The investment is set to provide supplemental funding to allow PhysioLogic to reduce key challenges associated with implantable micropumps and actuators and enable the startup's development goals for the upcoming years.