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Walgreen Net Misses Analysts’ Estimates 11:19 AM 12/22/2008
Bloomberg - USA
Walgreen Co net income declined 10 percent to $408 million. Revenue climbed less than 7%, its smallest gain in nearly 20 years. ...

PDL spins off biotech biz 10:29 AM 12/22/2008
FierceBiotech - Washington,DC,USA
PDL BioPharma has spun off its biotech business into Facet Biotech Corp. ...

Avigen stops development of lead drug 9:09 AM 12/22/2008
Reuters - USA
Biopharmaceutical company Avigen Inc will stop all clinical trials of its experimental treatment for spasticity related to multiple sclerosis. It terminated all contracts with partner Sanochemia Pharmazeutika AG. ...

TransMolecular receives orphan drug designation 8:08 AM 12/22/2008
Boston Globe - United States
TransMolecular Inc said that the US FDA granted orphan drug designation for 131I-TM601, a drug candidate aimed at Stage IIb-IV melanoma. ...

GlaxoSmithKline to buy Pakistani business 7:10 AM 12/22/2008
Bizjournals.com - Charlotte,NC,USA
GlaxoSmithKline has agreed to buy Bristol-Myers Squibb's Pakistani pharmaceutical brands business for about $36 million. ...

Glenmark Pharmaceutical's Crofelemer enters phase-3 clinical trials 5:15 AM 12/22/2008
Economic Times,India
Glenmark Pharmaceuticals said its Crofelemer for multiple indications including HIV-associated diarrhea has entered phase-3 clinical trials. ...

Alizyme up on Takeda drug update 4:12 AM 12/22/2008
Forbes - NY,USA
Alizyme shares rise after partner Takeda announces the start of large-scale trials with its obesity drug Cetilistat. Alizyme could receive up to $32 million in development and sales milestones. ...

FDA approves new version of Emergent vaccine 6:21 PM 12/19/2008
MSNBC - USA
Emergent BioSolutions Inc said the US FDA approved a new version of its anthrax vaccine Biothrax that requires fewer injections. ...

EU clears Israel's Teva to buy Barr Pharmaceutical 2:44 PM 12/19/2008
Reuters - USA
The European Commission approved Teva Pharmaceutical's planned takeover of US biopharmaceutical and generic drug maker Barr. ...

US flu shows resistance to flu drug, CDC says 2:34 PM 12/19/2008
Reuters - USA
A common strain of influenza in the US is resistant to the most popular drug used to treat it. Tamiflu is used in a minority of cases. ...

FDA holds off decision on J&J psoriasis drug 11:00 AM 12/19/2008
Reuters - USA
The US FDA will not require new studies on Johnson & Johnson's promising psoriasis drug ustekinumab, but delayed approval until they receive risk-mitigation information. ...

AstraZeneca, MAP Pharma to develop asthma drug 9:57 AM 12/19/2008
Reuters - USA
AstraZeneca Plc signed an agreement to develop and market MAP Pharmaceuticals' pediatric asthma drug unit dose budesonide (UDB) as a potential treatment for pediatric asthma in children aged 12 months to 8 years. ...

European committee recommends Lilly drug approval 3:27 PM 12/18/2008
Forbes - NY,USA
Eli Lilly's blood thinner prasugrel has moved closer to market with an approval recommendation from a European Medicines Agency committee. ...

Pfizer to buy rights to experimental biotech drug from Auxilium 2:27 PM 12/18/2008
SmartBrief - Washington,DC,USA
Pfizer purchased development and marketing rights to Auxilium Pharmaceuticals' Xiaflex. It treats two conditions caused by collagen accumulation; Dupuytren's contracture and Peyronie's disease (decreased flexibility and pain in the penis). ...

Adolor to stop development of bowel dysfunction drug 1:21 PM 12/18/2008
Reuters - USA
Adolor Corp will stop developing its experimental treatment Entereg (alvimopan) for chronic bowel dysfunction in patients on opioid therapy. ...

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