> Shares of Avanir Pharmaceuticals were surging this morning after the FDA approved a new formulation of its antipsychotic FazaClo. Release
> Swiss authorities have ordered Novartis to pull Zelmac/Zelnorm from the market after determining that the risks presented by the irritable bowel syndrome drug were greater than the benefits. Report
> Amicus Therapeutics priced its IPO at $15 a share, right in the middle of its forecasted range. Amicus expects to raise about $68 million. Report
> Australia's Chemeq, an agricultural bio company once worth more than $800 million, has been put in the hands of the administrators Report
> Jazz Pharmaceuticals has cut its price range on its IPO to $20 to $21 a share from an anticipated $24 to $26 a share. Report
> Cypress Bioscience has priced a public offering of 4.7 million shares at $15.50 a share. Release
> A federal judge has ordered a third trial in a Vioxx case after determining that one of Merck's witnesses misrepresented his qualifications. Report
> The Cleveland Clinic cardiologist whose research created a furor over Avandia now says that an FDA spokesman has targeted him for a smear campaign. Report
And Finally… Health officials are trying to determine what went wrong when a man diagnosed with a highly contagious form of drug resistant TB ended up on two international flights. The case points to some troubling problems with containing other potential pandemics. Article