Novavax vaccine meets mid-stage trial goal, shares rise

(Reuters) – Novavax Inc said its vaccine to treat a virus that causes respiratory tract infections met the main goal, of immunizing women of childbearing age, in a mid-stage trial. The company’s shares were up 8.5 percent at $2.35 in extended trading. The vaccine against respiratory syncytial virus (RSV) could induce immune responses at levels that can protect infants through a transfer of antibodies from the mother, Novavax said citing trial data. The vaccine was well-tolerated, with a safety profile similar to its early-stage trial. …

IRS weighs changes to Obama healthcare investment tax rules

A woman walks out of an Internal Revenue Service office in New YorkBy Kim Dixon WASHINGTON (Reuters) – Businesses and wealthy owners of estates and trusts asked the IRS on Tuesday for changes to a part of President Barack Obama's 2010 healthcare law that has received comparatively little attention: a 3.8 percent tax on investment income intended to provide the bulk of the law's funding. The tax kicks in this year, with U.S. taxpayers accounting for it for the first time in their tax returns for 2013. It is projected to raise more than $100 billion over a decade to help pay for health insurance for millions of Americans who lack it. …

Elan completes sale of Tysabri stake to Biogen

DUBLIN (Reuters) – Irish drugmaker Elan closed the sale of its 50 percent stake in multiple sclerosis (MS) drug Tysabri on Tuesday, clearing the way for it to return cash to investors, spend on acquisitions and stave off an approach for the company. Under a deal announced in February, Biogen Idec will take full ownership of the blockbuster drug for an upfront payment of $3.25 billion plus royalties of up to 25 percent on future sales. …

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