ALSO NOTED: Judge clears Exubera sales; Obagi prices IPO; Novartis sells med nutrition business; and much more...

> A federal judge has refused a demand from Novo Nordisk to block sales of Pfizer's inhalable insulin Exubera, saying that patients' right to obtain the therapy were more important than its claims that Pfizer had violated its patents. Report

> Obagi Medical Products, which makes prescription skin care products, has priced its IPO at $11 a share. Report

> Nestle is buying the medical nutrition business of Novartis for $2.5 billion. Novartis has made it clear that it intends to focus on healthcare. Report

> Following in Eli Lilly and Merck's footsteps, Adolor is cutting 52 jobs--including 35 in its sales force--after the FDA has asked for more information on its experimental bowel drug Entereg. The company also appointed COO Michael Dougherty as its new CEO. Release

> Novartis says that the FDA has extended its review process for the blood pressure drug Tekturna by three months so it can evaluate new data. Report

> The GAO reports that the FDA has grown lax in its oversight of drug advertising, making fewer citations for false and misleading ads while taking longer to do it. Article (WSJ sub. req.)

> Bristol-Myers Squibb is licensing two patents for experimental diabetes therapies from OSI Pharmaceuticals. Release

> GlaxoSmithKline has begun a late-stage trial of Tykerb to evaluate its effectiveness against breast cancer. Report

> Roche has helped develop a nanomechanical sensing device that can be used to detect a person's response to drug therapy. Report

> Researchers at the University of Buffalo say they have developed a monoclonal antibody that has significantly extended the lives of mice engineered to carry breast cancer tumors. Report

> Scientists in the U.S. and Europe have identified proteins that can serve as an early warning of Alzheimer's, which in turn would allow for better treatment at an earlier stage for many patients. Report

> Researchers have identified an adult stem cell in hair follicles that appears to have the ability to diversify in much the same way that embryonic stem cells can. Report

> The journal Nature examines a remarkable family in Pakistan that is unable to feel pain due to a genetic mutation. Researchers believe that their rare condition could lead to innovative treatments for pain management. Report

> And Finally… Indian scientists are returning home as their country emerges as a leading player in the drug development field. Article (sub. req.)