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Good morning. Happy Wednesday. This is Kate Sheridan, filling in for Ed Silverman this morning from STAT’s thriving bureau in Queens, where the official mascots are cats. Today’s cup of stimulation is made with store-brand French roast beans ground in a blender because I mistakenly grabbed a large bag of whole beans instead of my usual ground coffee. Best served black with a hint of chagrin. Ed will be back tomorrow, no doubt with better coffee. Until then, here’s today’s news. …

Theranos founder Elizabeth Holmes goes on trial in federal court on Wednesday, with prosecutors poised to lay out fraud charges against the former Silicon Valley star accused of lying about her now-defunct blood-testing startup once valued at $9 billion, Reuters reports. Holmes faces 10 counts of wire fraud and is expected to testify. The trial could take about four months.


French drug maker Sanofi (SNY) said Wednesday it will acquire Kadmon Pharmaceuticals (KDMN) for $1.9 billion, bolstering its transplant medicines business with a newly approved treatment for graft-versus-host disease, STAT’s Adam Feuerstein writes. With this acquisition, Sanofi now has three transplant medicine drugs in its portfolio.

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