> QuatRx Pharmaceuticals has yanked its IPO, citing market conditions. Release
> The FDA has given GlaxoSmithKline's Avandamet approval as a front-line therapy for Type 2 diabetes. It won approval as a second-line therapy for some diabetes patients in 2002. Report
> Athenagen and Zapaq, both private biotechs, have agreed to merge. Two of Zapaq's compounds are expected to start clinical trials in early 2007. Report
> Takeda's hypertension drug candidate TAK-491 has entered Phase II trials in Europe and the U.S. The therapy is seen as a possible successor to the blockbuster Blopress when it loses patent protection in 2012. Report
> The FDA has approved Merck's EMEND for use treating sickness after surgery. Report
> Canada's Inex Pharmaceuticals plans to revise its plan to spin out Tekmira Pharmaceuticals. Release
> Myogen has extended its collaboration with Novartis on drugs to treat heart muscle disease. Release
> Quest Diagnostics will take pretax charges of $32 million to $39 million for the discontinuation of operations at Nichols Institute Diagnostics. Report
> Portola Pharmaceuticals has begun a Phase II trial of oral Factor Xa inhibitor for the prevention of deep vein thrombosis and pulmonary embolism in patients undergoing knee replacement surgery. Release
And Finally… Influential White House adviser Karl Rove says that President Bush will issue his first presidential veto if the Senate signs off on a bill to expand federal funding for stem cell research. Report