> Two months after Pfizer canceled a major collaboration, Arqule says it will lay off 125 workers and focus on cancer-related products. The Woburn, MA-based Arqule had earned $50 million a year from the partnership and still expects to gain $20 million from the termination. Report
> Weeks after filing for bankruptcy protection, Durham, NC-based Nobex says it will auction off its assets--primarily intellectual property rights--in March. Report
> EMEA staff have recommended approval for Genzyme's Myozyme for Pompe disease. Release
> Inex Pharmaceuticals says it will spin off its targeted immunotherapy assets into a new company, Tekmira Pharmaceuticals. Release
> AVI BioPharma has signed a deal with Chiron granting AVI a nonexclusive license to Chiron's patents and patent applications for the development of antisense therapeutics against hepatitis C virus. Release
> Arena Pharmaceuticals has priced an offering of 9,752,508 shares at $16.90 each. Release
> Canada's Biomira has arranged $16.1 million in financing. Release
> Germany's GPC Biotech's anticancer monoclonal antibody has won orphan drug status from the European Commission. Report
And Finally… About 1 million low-income and disabled seniors who relied on free drugs handed out by big drug companies are being cut off and pointed to the new Part D benefit, which could cost them thousands of dollars a year. Article