Arena Pharmaceuticals Inc. has agreed to sell shares to Deerfield Management for $35.5 million, money that will bolster the biotech's cash as it seeks FDA approval of its obesity compound lorcaserin. (BioWorld Today)

Swiss drugmaker Roche AG and Biogen Idec Inc. are discontinuing development of ocrelizumab in patients with rheumatoid arthritis (RA), after an infection-related safety signal was observed in Phase III testing, resulting in the death of some patients. (BioWorld Today)