ALSO NOTED: Cambrex names new CEO; Fate Therapeutics appoints CEO and chairman; and much more...

> Shares of the UK's Allergy Therapeutics surged on the news that its experimental hay fever vaccine--Pollinex Quattro--demonstrated positive results in a crucial Phase III study, which they say was the largest controlled allergy vaccine study ever conducted. Vaccine report

> Cambrex announced that it has named Steven M. Klosk president and CEO. James A. Mack, president and CEO since 1995 and chairman since 1999, has announced he will step down. The company will separate the positions of board chairman and CEO and John R. Miller, currently lead director, will assume the position of Non-Executive Chairman of the Board. Mack will remain a board member and advisor until his retirement on June 30, 2008. Cambrex report

> Paul A. Grayson and John Mendlein have joined Fate Therapeutics as president and CEO and executive chairman, respectively. Report

> Surface Logix announced that Jim Mahoney is stepping down as president and CEO to pursue other interests. Steven Gillis, Ph.D., managing director at ARCH Venture Partners, will assume the role of executive chairman until a new CEO is appointed. Release

> Novartis says that a mid-stage study of its MenB vaccine demonstrated broad protection from meningococcal B infections in infants. Novartis report

> New data on pharma sales details some big shifts in spending. Diabetes meds have displaced cholesterol drugs as the leading drivers of spending growth, and the global market for cancer meds is advancing by leaps and bounds. Report

> A new study could be the last nail in Trasylol's coffin. Report

> Europe's competition commissioner is casting a wide net in her pharma-market antitrust probe. Report

> Dennis Quaid added some star power--and colorful language--to a dry legal debate yesterday. Testifying before Congress, Quaid backed people's right to sue drugmakers, saying that FDA approval shouldn't automatically negate patient lawsuits. Preemption report

And Finally... South Korea says it will build a bird flu vaccine factory next year. And the country says it will stockpile enough Tamiflu to be able to treat 10 million people in the event of a pandemic. Report

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