NitroMed takes Deerfield offer, terminates Archemix deal; ZymoGenetics buys back drug;

> NitroMed says it has accepted an offer to be bought out by Deerfield Management, terminating an earlier deal with Archemix. Deerfield will receive $36 million to complete the deal. Report

> ZymoGenetics is buying back full commercial rights to its cancer drug IL-21 from Novo Nordisk, setting up a new licensing deal if clinical trials pan out. Release l Story

> Seattle Genetics says it plans to raise $55.8 million through the sale of new shares. Report

> Watson Pharmaceuticals says that the FDA has approved GELNIQUE or oxybutynin chloride Gel 10%, a topical gel for the treatment of overactive bladder with symptoms of urge urinary incontinence, urgency, and frequency. Release

> The fires of debate are still blazing in the Pfizer-Wyeth purchase, with everyone from analysts and industry insiders to employees and shareholders weighing in on the $68 billion dollar deal. Report

> A new study in the journal Pediatrics says that as many as 1.48 psychotic symptoms per 100 person-years could result from the use of the medications prescribed for the treatment of attention deficit hyperactivity disorder (ADHD). In other words, for every 100 children taking a medication for one year, one or two will experience hallucinations or similar issues. Report

> The price of cancer drugs is soaring and patients often pay thousands of dollars out of pocket to afford the drugs, according to a new story in The New England Journal of Medicine. According to the report, current laws make it hard--impossible even--for the government to control medication costs for cancer treatment, which resulted in a 267 percent increase in spending from 1997 to 2004. Report

> A single injection of the cholesterol-binding agent CYCLO was enough to rid mice of excessive accumulations of cholesterol in cells, a finding that could point the way to treat the lethal Niemann-Pick type C disease. Report

> A team of researchers at the Pennington Biomedical Research Center in Louisiana have been building a case that a common cold virus can help trigger obesity. Report

And Finally... Diabetics have a significantly greater risk of dementia, both Alzheimer's disease--the most common form of dementia--and other dementia, reveals important new data from an ongoing study of twins. The risk of dementia is especially strong if the onset of diabetes occurs in middle age, according to the study. Release