Local News

• Merck announces fourth quarter 2008 dividend  The Board of Directors of Merck & Co. declared a quarterly dividend of $0.38 per share on the Company's common stock for the fourth quarter of 2008.
  Merck & Co., Inc. July 22, 2008  
• Senate Appropriations Committee approves $2 billion for FDA  The Senate Appropriations Committee unanimously passed an appropriations markup measure Thursday, providing the FDA with a $2.04 billion fiscal 2009 budget. This amount is $324.6 million more than the agency initially received for fiscal 2008.
  FDAnews July 21, 2008  
• Wyeth Pearl River Facility earns OSHA VPP Star; 2,000th workplace recognized in U.S.  Wyeth announced that its manufacturing and research facility in Pearl River, N.Y., has earned the highest recognition for workplace safety and health from the U.S. Department of Labor's Occupational Safety and Health Administration (OSHA): the Voluntary Protection Programs (VPP) "star."
  Wyeth July 21, 2008  
• Boston Scientific announces results for second quarter ended June 30, 2008  Boston Scientific announced financial results for the second quarter ended June 30, 2008, as well as guidance for net sales and earnings per share (EPS) for the third quarter of 2008. For the second quarter, the company achieved net sales of $2.024 billion.
  Boston Scientific Corporation July 21, 2008  
• Teva to acquire Barr  Teva Pharmaceutical and Barr Pharmaceuticals announced today that they have signed a definitive agreement under which Teva will acquire Barr, the fourth largest generic drug company worldwide. Each share of Barr common stock will be converted into $39.90 in cash and 0.6272 Teva ADRs.
  Barr Pharmaceuticals, Inc. July 18, 2008  
• U.S. cancels test of experimental AIDS vaccine  Federal researchers dropped plans for a large-scale test of an experimental AIDS vaccine developed by the National Institutes of Health - the latest fallout from the failure last September of a similar candidate from drugmaker Merck that may have left some volunteers more vulnerable to HIV.
  San Francisco Chronicle July 18, 2008  Sabin Russell
• Merck to fund U.S. VIOXX(R) product liability resolution program  Merck & Co. said that it is satisfied that the thresholds necessary to trigger funding of the program to resolve state and federal VIOXX myocardial infarction (MI) and ischemic stroke (IS) claims in the United States will be met.
  Merck & Co., Inc. July 17, 2008  
• Genzyme and PTC Therapeutics announce collaboration on small molecule for genetic disease  Genzyme and PTC Therapeutics announced an exclusive global collaboration to develop and commercialize PTC124, PTC's novel oral therapy in late-stage development for the treatment of genetic disorders due to nonsense mutations.
  Genzyme Corporation July 17, 2008  
• 3M Health Care and Greystone Pharmaceuticals announce license agreement  3M Health Care and Greystone Pharmaceuticals announce they have entered into an exclusive, worldwide license agreement for wound care products using Greystone's patented PHI technology, a proprietary formulation that aids in the management of hard-to-heal wounds.
  3M July 17, 2008  
• Medtronic completes acquisition of Restore Medical  Medtronic announced that it has completed its acquisition of Restore Medical. Under the terms of the agreement announced on April 22, 2008, Restore shareholders will receive $1.60 per share in cash for each share of Restore common stock they own.
  Medtronic, Inc. July 17, 2008  

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