Targanta shares soared ahead of FDA meeting; Lilly sees Byetta delay;

> Shares of Targanta soared 86 percent on Friday as investors waited for a key regulatory decision today on an experimental new antibiotic. Report

> KV Pharmaceutical says it fired its CEO amid a slew of class action lawsuits and an investigation. Report

> Eli Lilly and Amylin say that federal regulators are likely to delay any decision on allowing the use of Byetta as a standalone therapy into 2009. Report

> LEO Pharma has established an affiliate in China with the goal of eventually becoming the leading dermatological company in the country. Release

> Brace yourselves, Pfizer folks. Word is that another round of layoffs is on the way early next year. Report

> Remember all that hoo-hah over scientists using drugs such as Ritalin and Provigil for the very, very off-label use of boosting their brainpower? Well, now the folks at Nature are at it again, this time with an opinion piece supporting the idea of brain boosters. Report

> Will he stay or will he go now? Novartis Chairman and CEO Daniel Vasella (photo) won't say, exactly. But he does downplay any rumors that he's on his way out the door now that he's appointed a potential successor. Report

> The folks at Takeda Pharmaceuticals' Millennium unit and at Johnson & Johnson are celebrating today: The blood cancer drug Velcade will top the $1 billion mark this year. That means Velcade can be officially crowned as a blockbuster. Report

> Last week, some pharma types warned us that the recession won't leave the industry unscathed. But no one spoke as directly--or specifically--as Roche CEO Severin Schwan (photo) did in a Wall Street Journal interview published today. Report

And Finally... New England Patriots owner Robert Kraft may build a sprawling new biotech complex next door to his new football stadium. Report