Pharma company mergers are reducing the number of new medicines coming to market.

That's the finding of a new working paper from Yale and London Business School researchers, who determined that 5% more drugs would become available each year if not for what they refer to as "killer acquisitions."

• The researchers, Yale School of Management's Song Ma and LBS's Colleen Cunningham, looked at more than 60,000 drug development projects originated by over 8,000 companies over the past 25 years.
• Companies are shown to be less likely to continue development of acquired drugs than of in-house projects. Particularly when the acquired product could compete with an in-house effort.
• "Killer acquisitions" account for 7% of pharma M&A.
• Such deals are defined as those "intended to kill potentially promising, yet likely competing, innovation."
• One notable example was the Questcor/Mallinckrodt purchase of U.S. development rights to Synacthen, which ultimately resulted in a $100 million FTC fine.

The troubling bottom line:

Harvey Weinstein surrendered to police and was led away in handcuffs in New York before being arraigned on charges related to the sexual abuse allegations that helped to launch the #MeToo movement.

The details: Per his lawyer, Weinstein intends to plead not guilty to the rape and criminal sex act charges. They stem from two of the dozens of women who have accused him of sexual misconduct, per the AP. Weinstein is free on $1 million bail with constant electronic monitoring and restricted travel outside New York and Connecticut.

Video of Weinstein entering the police station:

Weinstein's lawyer reacts to the charges: