> The FDA has granted fast-track status to Pharmaxis' Bronchitol as a therapy for cystic fibrosis. Investors applauded the news by driving up the value of Pharmaxis' stock about 20 percent on Friday. Pharmaxis has released positive mid-stage data on Bronchitol that demonstrates an improvement in lung function among the patients taking the drug. Pharmaxis plans a complete filing for Bronchitol by 2008. Report
> Alimera Sciences has gained $15.9 million in new venture capital as it completed its second tranche of a second round of venture financing. Release
> A federal judge last week denied an attempt to gain class action status for thousands of outstanding Vioxx claims, saying the suits were far too different to be pooled together. Report
> Oscient Pharmaceuticals announced today that the FDA considers its response on Factive for community-acquired pneumonia to be complete. Report
> A French agency has granted Transgene €25 million to identify and validate new molecular biomarkers. Release
> A syndicate of investors has provided a $10 million venture debt commitment to Alba Therapeutics. Much of that money will be used to research AT-1001 for autoimmune disorders. Release
> Akorn and India's Natco Pharma have expanded a purchase and supply agreement to include a third therapy for breast cancer. Report
> Australia's Mayne Pharma has agreed to pay $8 million for the outstanding rights to Nipent, a therapy for hairy-cell leukemia. Release
> The FDA has warned AstraZeneca that its promotional material for Seroquel is misleading and can't be distributed. Report
And Finally… Researchers are studying an African spice that contains an anti-inflammatory compound that is similar to the one in Vioxx, but hopefully won't mimic damaging side effects. Article