ALSO NOTED: Lilly grabs rights to pain therapy; Study outlines billions in potential R&D savings; Takeda shares hit by FDA move

> Eli Lilly has agreed to pay India's Glenmark Pharmceuticals $45 million up front and up to $215 million in scheduled milestones for the North American, European and Japanese rights to the experimental pain therapy GRC 6211. Another $90 million is up for grabs for other approved uses of the therapy. Release

> A new study outlines how biotech and pharma companies could potentially save billions in R&D expenses. Report

> Shares of Sepracor surged more than 17 percent on the news that it would cut some 300 positions. Release

> Yesterday's news that the FDA wanted Takeda to halt high dosage studies of a key cholesterol-lowering drug took a 12 percent bite out of its stock value. Report

> The diagnostics company Genoptix prices its IPO shares at $17 apiece. Report

> Living Cell Technologies has raised $6.4 million of additional capital. Report

> On second thought, maybe Genentech won't restrict supplies of Avastin. This turnabout announcement comes after the company met with eye specialists who were hopping mad that patients might be forced to buy Lucentis at $2,000 per dose versus Avastin at $40. Report

> Chinese regulators have arrested 774 people over the last two months for violations of food and drug safety rules. They've also destroyed 1,000 tons of counterfeit products and instituted a new quality standard for pharmaceuticals licensing. Report

> An $80 million Emerging Technologies and Innovation Center planned for UMass Lowell will concentrate on nano- and bio-manufacturing research and is expected to play a role in moving life sciences companies from R&D into production. Report

> Pfizer vice chairman David Shedlarz could walk away with $43 million in benefits and deferred compensation when he retires later this year. Release | Report

And Finally... Researchers have completed an animal study that suggests placing mice on a buzzing platform for 15 minutes a day caused them to lose a significant amount of weight while improving bone structure. Report