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ALSO NOTED: Medtronic earnings drop 89%; GSK buys back 2.7M shares;

By admin
Created Feb 19 2008 - 7:59am

> Medtronic's third-quarter earnings plummeted by 89 percent to $77 million because of charges on lawsuit settlements and acquisition costs, but even the adjusted profit beat Wall Street expectations. Report [1]

> GlaxoSmithKline bought 2.7 million of its own shares as part of a stock buyback program authorized last May to boost value. Report [2]

> AstraZeneca appointed Jean-Philippe Courtois, president of Microsoft International, as non-executive director. Report [3]

> Ireland's Health Service Executive says it may buy drugs from international suppliers if domestic wholesalers don't absorb the cost of reduced profit margins instead of passing it along to pharmacies. Report [4]

> Denmark's Pharmexa will cut 20 percent of its workforce after finding buyers for just 18.2 million of 69 million new shares of stock. Report [5]

> Endo Pharmaceuticals and Penwest Pharmaceuticals say they will fight a generic version of their Opana ER pain drug planned by Actavis. Report [6]

> Janssen Korea, a unit of Johnson & Johnson, says it plans to expand and modernize its plants in that country; this year it will spend more than $2 million on new equipment. Report [7]

> Mistral Pharma won a deal to distribute six injectable generic drugs in Canada for an unidentified drug maker. Report [8]

> Carl Icahn has cashed in his Genzyme chips and evidently gone looking for another game. Report [9]

> FierceHealthcare asks: Would a new agency curb pharma marketing misdeeds? Editorial [10]

And Finally... Living past 90 isn't rocket science: stop smoking, manage weight, control blood pressure, exercise regularly and avoid diabetes. Report [11]


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http://www.fiercepharma.com/story/also-noted-medtronic-earnings-drop-89-gsk-buys-back-2.7m-shares/2008-02-19