> Eli Lilly announced today that Steven Paul, M.D., executive vice president, science and technology, and president, Lilly Research Laboratories, will retire from Lilly effective February 28, 2010. Lilly has also announced that Jan Lundberg, Ph.D., executive vice president and head of global discovery research, AstraZeneca, is to become his successor. Release
> Lexicon Pharmaceuticals announced today that the company's investigational new drug, LX1031, a tryptophan hydroxylase (TPH) inhibitor, demonstrated positive results in clinically important parameters for the treatment of non-constipating irritable bowel syndrome. Report
> Novelos Therapeutics has closed a $9 million private placement with the help of Purdue Pharma. Novelos is developing Q3 2010, a late-stage lung cancer drug. Report
> Endo Pharmaceuticals has paid $23 million to settle a patent dispute with LecTec Corp. Report
> TET Systems and Novo Nordisk have signed a license agreement allowing Novo's Hagedorn Research Institute to use Tet Technology for its internal research activities. Release
Pharma News
> GlaxoSmithKline doesn't expect profit margins to slip substantially despite an aggressive drive to diversify into areas such as consumer health and emerging markets, CEO Andrew Witty (photo) told attendees at the Reuters Health Summit Thursday. Report
> If you think drugmakers have legal troubles now, just wait. That's the promise of the U.S. Justice Department, which says it's planning to crack down hard on overseas corruption and healthcare fraud. Article
> It's been the usual parade of drug-company executives at this year's Reuters Health Summit--and the usual steady flow of newsworthy comments. Among those on tap yesterday: Fred Hassan, who was CEO of Schering-Plough until the Merck merger just a few days ago. Naturally, Hassan had plenty to say about his old company--and a few predictions for pharma at large. Report
> Yet another set of plaintiffs has sued Bayer over kidney damage and other injuries allegedly caused by the drug Trasylol, which used to control bleeding during heart surgery. Report
Special Report: The Top 12 GMP Violations. Report
And Finally... Is it any surprise that Google and Yahoo are working hard to get FDA's stamp of approval on search-engine advertising for branded drugs? Of course not, especially when you consider that drugmakers spent more than $4 billion on DTC marketing last year--but online venues only captured about 3 percent of that money. Article