What's a drugmaker doing, investing in securities at least partly backed by subprime mortgages? Ask Bristol-Myers Squibb, which took a $275 million write-down on so-called "auction rate securities" that had fallen in value to $419 million from $811 million. Report
> In the U.K., 200 AstraZeneca workers may lose their jobs as the company restructures its operations. Report
> Vyteris has redirected its business to focus on the development of peptide delivery using its Smart Patch technology. The change will allow for the further development of small molecule delivery using its technology as well. Release
> An in-development vaccine that weans addicts from their substance of choice has shown the most promise against cocaine addiction so far, but its developers are testing it against other substances now. Report
> The FDA has warned Novartis Vaccines and Diagnostics of the "significant deviations" found at its manufacturing plant in Marburg, Germany, accusing the pharma giant of producing contaminated vaccines and failing to come up with a comprehensive response to the problem. Report
> A federal grand jury is investigating Merck's marketing of Vioxx. Report
> As if patient lawsuits and government investigations weren't enough, now Eli Lilly shareholders are suing. Report
> The FDA has issued a sobering warning: the risk of suicide and suicidal behavior doubles for patients taking epilepsy drugs. Report
And Finally... Scientists have created a genetically modified strain of E. coli that produces substantial amounts of hydrogen. They hope the strain can be used for hydrogen-based energy in the future. Release