> Inhibitex announced Friday that it is planning to cut 35 of its 83 workers following a disappointing Phase III trial of Veronate that failed to hit its primary endpoint. CEO William Johnston said that the company was making the cuts to "appropriately reflect the stages of our clinical and pre-clinical development programs." Report
> SRI International has struck a deal to acquire Quality Clinical Labs. QCL has about 50 biotech clients in the San Francisco Bay area. Release
> Akorn announced that the FDA had OK'd the return of Inapsine for nausea to the market. The injectable has been off the market for five years due to compliance issues at Akorn's manufacturing plant. Report
> Safetek International has inked an agreement to acquire the rights to all of Resdevco's intellectual property relating to its antioxidant compounds. Release
> India's Aurobindo Pharma has received tentative approval for a generic version of Merck's blockbuster Zocor, which is nearing the end of its patent protection. Report
> Israel's Taro Pharmaceutical has received FDA approval to market a generic version of GSK's Coreg for cardiovascular conditions. Report
And Finally… Democrats are hopeful that their position on stem cell research will help the Party's candidates get elected this fall. Article