Cadence Pharma raising $85M: What's next for ZymoGenetics CEO Doug Williams?;

 @FierceBiotech: J&J drops Arena diabetes drug pact. News | Follow @FierceBiotech

 @JohnCFierce: It took a couple of days, but what started out as 900+ panel submissions for BIO 2011 have been boiled down to a select 125. Follow @JohnCFierce

> Fresh on the heels of an FDA approval for a new IV drug to treat pain and fever, Cadence Pharmaceuticals is announcing plans to sell $85 million of its shares. Report

> Now that BMS has completed its $885 million acquisition of ZymoGenetics, Xconomy reports that CEO Doug Williams has left the building. His departure sets the stage for some new biotech venture, according to leaders in Seattle's biotech community. And his success will make it possible for Williams to do just about anything he sets his mind to. Story

> Germany's mtm laboratories announced the signing for an additional tranche of Euro 7 million to its Series C funding. Release

> The FDA approved Kombiglyze XR tablets for Type 2 diabetes. Report

> RedHill Biopharma has completed a private placement of more than $10 million. Release

> Covagen announced that Roche is extending their collaboration on the use of Fynomers in a drug discovery pact. Covagen release

> Boehringer Ingelheim reports that its newly approved blood thinner Pradaxa lowered the risk of major bleeding in a new study analysis. Article

> Athersys reports that the FDA has authorized commencement of a Phase II clinical trial evaluating the safety and efficacy of MultiStem, its allogeneic investigational cell therapy product. Athersys release

And Finally... As India grows more affluent, the country is seeing a huge increase in the rate of diabetes in the middle class. News