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A federal appeals court has shot down Teva Pharmaceutical's request for a rehearing
of its widely watched patent lawsuit over Pfizer's antidepressant Zoloft.
Faced with looming generic competition on many of its key products, as well
as continuing uncertainty over its arthritis pain drugs, Pfizer has initiated
a plan to trim annual costs by $4 billion within three years through such measures
as plant closings, administrative cutbacks and sales force streamlining.
The Centers for Medicare & Medicaid Services (CMS) has expanded its coverage
of Medicare Part B drugs to include Merck's oral, antinausea treatment Emend.
CortDev announced that Botaniex has purchased a 16.5-acre parcel of land in
Zhaoqing High Technology Industry Development Zone, Guangdong Province, China.
Cellegy Pharmaceuticals announced that it has entered into a settlement agreement
with PDI, Inc. resolving the lawsuits that the companies had filed against each
other relating to an exclusive license agreement for Cellegy's Fortigel (testosterone
gel) product candidate in North American markets.
Drug companies could face restrictions on advertising medicines under a Federal
Government Budget push to prevent a blowout in Australia's pharmaceutical benefits
scheme (PBS).
Janus Pharmaceuticals Inc. (Janus) announced the closing of the company's Series
A financing round for a total of over $2 million. Lead investor was Private
Equity Japan Co., Ltd (PEJ). of Tokyo, Japan. Commensurate with this funding,
Mr. Shinji Kimura Managing Director, PEJ, joins the Janus Board of Directors.
DiObex, a biotechnology company developing therapeutics for the treatment of
metabolic diseases, announced the conclusion of a worldwide exclusive license
agreement with Cortendo Invest AB of Gothenburg, Sweden.
OnSource announced that it executed a definitive agreement to merge (the "Merger
Agreement") with Osmotics Pharma (OPI). OPI is an emerging specialty pharmaceutical
company focused on developing prescription products for the treatment of various
dermatological disorders, antibiotic-resistant strains of bacteria and certain
cancers.