> Cytokinetics of South San Francisco will raise $33 million through a direct stock offering. Release
> A.P. Pharma sold the royalty rights to two skin treatments for $30 million in a move aimed at raising enough cash to avoid being de-listed from Nasdaq. Release
> More intense pricing competition in the U.S. generics market drove Ranbaxy's quarterly profits down by 56 percent. Also, Malvinder Singh will replace Brian Tempest as CEO of the Indian drug maker. Report
> Researchers say that Cox-2 inhibitors may still be the best form of treatment for a particular category of patients. Report
> Iceland's deCode Genetics is buying an Icelandic cancer research firm for $5.5 million in stock. Report
> Ireland's Azur Pharma has acquired Gastrocom, a treatment for mastocytosis. Report
And Finally... STMicroelectronics and Veredus Laboratories are preparing clinical trials of a disposable chip that could diagnose avian flu in an hour. Article