> Wyeth Pharmaceuticals has submitted Torisel for approval in the U.S. and Europe for the treatment of advanced renal cell carcinoma. Report
> San Diego-based Nanogen is planning to reduce its work force by about 50 positions in an effort to streamline operations. The company, which makes research and diagnostic tools, has built up a work force of about 300, most in the United States, after acquiring several companies in the last two years. Company president David Ludvigson says Nanogen is eliminating redundant positions through attrition and consolidation, but declined to outline exactly where the cuts are being made. Report
> Perhaps responding to the blizzard of industry and consumer PR, Wal-Mart has decided to expand its $4 generic prescription program from a small pilot in the Tampa Bay, FL area to the entire state of Florida right away. Not to be outdone, Target announced yesterday that it, too, would offer $4 generics across all of Florida starting next Friday. Report
> Chattem has agreed to buy five OTC drugs from J&J for $410 million. Report
> Researchers have determined that Pfizer's Cytotec (misoprostol) can be a cheap and effective life-saver for poor women in developing countries. The drug, which costs 14 cents a tablet, has proven effective at preventing bleeding after childbirth. Report
> Memory Pharmaceuticals has wrapped a deal to raise $32.2 million in a private placement and put Vaughn M. Kailian, a general partner of MPM BioVentures IV, on the board. Release
> Eaton Laboratories has spun off IVPSA, its wholly owned subsidiary. Release
And Finally… After a flat year in '05, drug ad spending shot up nine percent in the first six months of this year, hitting $2.46 billion. Article