Industry - Pharmaceuticals latest news

WASHINGTON (MarketWatch) -- Eli Lilly & Co. announced a small-scale acquisition with the aim of of expanding its capabilities in drug discovery in the area of protein structures. After Monday's close, Indianapolis-based Eli Lilly said it's agreed to buy SGX Pharmaceuticals Inc. for $64 million in cash. Terms call for Eli Lilly to pay $3 a share for Sand Diego-based SGX Pharma, shares of which ended Monday's session at $1.37, off 6 cents. The transaction's expected to close during the second half, pending shareholder and regulatory approvals. The companies entered into a collaboration agreement in 2003.

San Diego, July 2008 - Vaccinating infants and toddlers is an almost universal practice in the United States. Vaccines to prevent flu are a regular part of medical care for senior citizens and at-ris... [WebWire - Wednesday, July 09, 2008]

BOSTON (MarketWatch) -- European drugmakers led drug stocks northward, with AstraZeneca PLC , GlaxoSmithKline PLC , Novartis AG and Novo Nordisk A/S gaining the most ground. The Amex Pharmaceutical Index edged up 0.4% to 306.8 and the Amex Biotechnology Index eased 0.4% to 767.9. Novo Nordisk shares were the highest climbers, up 3% at $65.16.

BOSTON (MarketWatch) -- The Food and Drug Administration said Wednesday that it will no longer issue "approvable" or "non-approvable" letters as part of the drug approval process. Currently, these letters are issued to inform a company that their drug application cannot be approved at the present time without the submission of additional information. Instead the FDA will issue "complete response" letters that will detail what is neeeded for a drug to win approval.

NEW YORK (MarketWatch) -- Gen-Probe Inc. does not intend to increase the value of its offer to acquire Innogenetics, a Belgian molecular diagnostics company. We believe the disciplined analytical process we used to value Innogenetics resulted in a full and fair offer, and a higher bid therefore does not make financial sense for us," said Gen-Probe CEO Hank Nordhoff. Gen-Probe said it is making this statement in response to a higher bid made Wednesday by Solvay Pharmaceuticals S.A. Gen-Probe shares rose 3% on Tuesday.

University of Pittsburgh School of Medicine study cites critical neurotransmitter GABA - - PITTSBURGH , July 2008 - Alterations in a molecular brain pathway activated by marijuana may contribute to th... [WebWire - Wednesday, July 09, 2008]

Agilent Technologies Inc. (NYSE: A) today announced it has acquired Particle Sizing systems, a privately held company that designs and manufactures instruments that measure the particle size and stabi... [WebWire - Wednesday, July 09, 2008]

European drugmakers traveled northward on Wednesday for the third straight session, with Novo Nordisk A/S gaining the most ground.

Better counseling by physicians is necessary, UMHS study finds - - - ANN ARBOR, Mich. - Even though cigarette smoking accounts for up to half of all bladder cancer cases, few people are aware of the co... [WebWire - Wednesday, July 09, 2008]

Berlin, July 2008 - The U.S. Food and Drug Administration (FDA) has approved Bayer Schering Pharma's magnetic resonance imaging (MRI) contrast agent Primovist® (gadoxetate disodium) for the detection ... [WebWire - Wednesday, July 09, 2008]