L’Occitaine’s $900m Elemis buy will build out the manufacturer/retailer’s premium, natural-oriented beauty portfolio, adding a prestige brand that aspires to be a leader in global skin care with its nature/science balance and cross-generational consumer appeal.

Sharon Leite has been Godiva Chocolatier president in North America since October 2017 will begin as Vitamin Shoppe CEO on Aug. 27. The firm agreed to part ways with former CEO Colin Watts in February after it reported 2017 net sales down 8.5% to $1.2bn for a net loss of $252.2m and $10.90 per share.

Hanmi is reviewing a new global clinical trial plan for its novel lung cancer drug olmutinib after China's ZAI Lab returned its rights, and following Boehringer’s cancellation of a major-licensing deal in 2016. ZAI's decision may reflect the difficulties faced by olmutinib and other third generation EGFR inhibitors in competing with Tagrisso, as well as the increasingly crowded and rapidly changing non-small cell lung cancer space.

Emerging Company Profile: Spinning out of Versant Ventures’ Inception Sciences, San-Francisco-based development-stage biotech Tempest Therapeutics Inc. completes $70m Series B round to advance small molecules that modulate anti-tumor immunity pathways.