ALSO NOTED: GSK to commercialize Lunesta; second headline; and much more...

> GlaxoSmithKline has signed on to commercialize Sepracor's insomnia drug Lunesta, agreeing to pay $20 million up front and up to $155 million in total for milestones and licensing fees. Glaxo gains the rights to all countries except the US, Canada, Mexico and Japan. Glaxo is looking for European approval of the drug--dubbed Lunivia outside the U.S.--in the second half of next year. FiercePharma

> Arena Pharmaceuticals stock got a bump this morning when researchers found no sign of heart valve damage after six months of Phase III testing for its obesity drug Lorcaserin. Release

> Evotec has sold its Chemical Development Business to Aptuit for about $63 million in cash. Release 

> As part of its overall restructuring, Pfizer will shut down its 53-year-old manufacturing facilities in Sandwich, England, shedding some 400 jobs in the process. FiercePharma

And Finally... According to new research from the Institute for Safe Medication Practices, the FDA received reports of 89,842 adverse events including 15,107 deaths in 2005, more than double the 1998 numbers of 34,966 reports and 5,519 deaths. Report