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The Centers for Medicare & Medicaid Services
issued a final decision memorandum
extending Medicare coverage to Praecis Pharmaceuticals' prostate
cancer drug
Plenaxis.
Biogen Idec's multiple sclerosis (MS) drug
Avonex
can cause severe liver damage, including liver failure, according to a
MedWatch
alert released by the FDA.
Biogen Idec's and Elan's recent withdrawal of multiple sclerosis (MS) drug Tysabri is starting to have some fallout for other drugmakers, including
GlaxoSmithKline
(GSK), which has been ordered to halt a clinical trial of a drug
candidate in
the same class as Tysabri.
Pharmaceutical company aaiPharma is considering filing for Chapter 11 bankruptcy
protection in order to stay in business while it repays $350 million in bond
and credit debt.
New England Compounding Pharmacy Inc. reported that it has filed counterclaims
against DUSA Pharmaceuticals Inc. of Wilmington, Mass., alleging, among other
things, defamation, violations of the Lanham Act 15 U.S.C.A. Section 1051 et
seq., Massachusetts General Laws c. 93A, Section 11, and the tortious interference
with advantageous business relationship.
Corautus Genetics Inc. significantly reduced its net loss while it increased
its revenue in 2004. The Atlanta-based biopharmaceutical company reported a
net loss of $10.4 million on $83.3 million in revenue last year, compared with
a net loss of $30.4 million on $34.7 million in revenue in 2003.
Nigeria's food and drug safety agency NAFDAC said that it had blacklisted 11
Indian and one Pakistani firm for allegedly supplying fake and counterfeit drugs.
Predix Pharmaceuticals Holdings and Cystic Fibrosis Foundation Therapeutics
have signed a research, development and commercialization agreement for two
cystic fibrosis drug development programs. The award funds two research programs.