Drug prices jump 9.1% in biggest rise of the decade; Genmab gains $16M milestone;

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> Drug prices jump 9.1% in biggest rise of the decade. Report

> Shares of Genmab surged after the developer reported that it will gain a $15.7 million milestone payment from GlaxoSmithKline after the European Commission provided conditional marketing authorization for the leukemia drug Arzerra. Story

> Shares of Acura Pharmaceuticals were pointed north yesterday as investors braced for a panel review of the company's lead therapy--the pain drug Acurox. The panel meets Thursday. Report (sub. req.)

> Researchers report that the AstraZeneca drug olaparib has shown promising results against ovarian cancer. The drug is designed to block a cell repair enzyme known as PARP. Story

> Roche says that a late-stage study of ocrelizumab met its primary endpoint for seropositive rheumatoid arthritis, but added that troubling safety issues remain. Patient deaths forced Roche to suspend work on the drug earlier, spurring significant doubts about any commercial future it may have. Story

> Phenomix Corporation announced positive top-line results from a six-month Phase III study comparing dutogliptin 400mg and 200mg once daily as monotherapy versus placebo for the treatment of patients with Type 2 diabetes mellitus. Release

> Dyax is getting an upfront payment of $10 million after selling its royalty stream from a hemophilia drug to a private equity firm. Story

> Seattle Genetics has snared a $9.5 million payment from Genentech to extend their antibody-drug conjugate research program. Release

> Ligand Pharmaceuticals is booking a $6.5 million payment from Roche after the pharma giant pushed RG7348 into a Phase I clinical trial for the treatment of hepatitis C. Release

> Higher R&D costs caused profits to shrink 11 percent in Biogen Idec's first quarter. Higher R&D costs included a $40 million milestone payment related to the 2007 acquisition of Syntonix. Report

And Finally... A study by physicians at the University of Rochester Medical Center indicates that significant changes in facial bones--particularly the jaw bone--occur as people age and contribute to an aging appearance. Story