> Reliant Pharmaceuticals has yanked its proposed $300 million IPO, citing unfavorable market conditions. The company originally filed its IPO with the SEC on May 20. Report
> A new decision by the South African government that clears the way for the sale of cheaper generic drugs has opened the way for Indian pharmaceutical firms to claim half of the country's growing drug business. Their advance was paved by a decision by 39 major drug companies to drop a patent suit that had blocked the introduction of generics into the country. Report
> The FDA has approved additional labeling for the HIV therapy Lexiva from GSK and Vertex. Report
> Eisai has resubmitted its NDA for the anti-epilepsy agent rufinamide. Report
> Onyx Pharmaceuticals of Emeryville, CA, has priced an offering of 5 million shares at $25.25 each. Release
> Bob Mitchell, CEO of Millimed, and Ronald Horvers, CEO of Blue Medical, announced today that they have finalized a strategy that will realign their core businesses and will operate as stand-alone entities. Release
> CuraGen and TopoTarget have updated their Phase I data for PXD101 with results showing it is safe, well tolerated and demonstrates potential anti-tumor activity. Release
> GlaxoSmithKline has awarded $1.5 million to the Malaria Consortium for improving malaria control. Report
And Finally… If healthy US seniors bow out of the new drug benefit, the cost for the elderly is likely to soar. Article