Judge says Big Pharma overcharged NY; Informed consent up for OK in NJ;

 @FiercePharma: Bloomberg: Bristol CEO ‘Out Hunting' for Deal With $10 Billion. Article [1] | Follow @FiercePharma [2]

> Merck, Pfizer and seven other drugmakers overcharged New York City and 42 New York counties for medicines and may be liable for damages on millions of dollars in drug sales, a federal judge ruled. Report [3]

> The New Jersey legislature is being urged to pass a bill requiring informed consent from a minor's parent before a healthcare provider prescribes any psychotropic that already carries a Black Box warning. Report [4]

> Merck lost its bid to dismiss the third case scheduled for trial over claims its osteoporosis drug Fosamax caused so-called jaw death. Report [5]

> Japan's No. 3 drugmaker Daiichi Sankyo said its nine-month recurring profit fell 2.7 percent, but it upgraded its outlook citing a recovery at its Indian unit Ranbaxy Laboratories. Report [6]

> India's Lupin posted a 38 percent rise in consolidated quarterly net profit--in line with street estimates--led by strong growth in the U.S. and Europe. Report [7]

> The Philippines plans to announce within two weeks a second list of drugs targeted for price cuts to help reduce healthcare costs in a nation where more than 40 percent of people live on $2 a day. Report [8]

> Pharmaceutical and medical device recalls more than quadrupled in the U.K. between 2004 and 2008, with the majority caused by problems with meeting manufacturing or performance standards. Report [9]

> Sanofi-Aventis SA signed an agreement to set up a joint venture in vitamin and mineral supplements with Minsheng Pharmaceutical Group of China. Report [10]

Biotech News

 @FierceBiotech: Fun reading: Worst Jobs in Science 2009. Article [11] | Follow @FierceBiotech [12]

 @JohnCFierce: If this $272M Ironwood IPO works then Katy bar the door. A bunch of wavering biotechs will follow. Follow John on Twitter [13]

> The Bill and Melinda Gates Foundation announced that it will give $10 billion over the next 10 years support everything from basic research to delivery of vaccines to developing countries. Report [14]

> An independent data safety monitoring board has given its thumbs up to the continuation of a Phase III study of Basilea Pharmaceutica's isavuconazole for the treatment of invasive Aspergillus infections. Story [15]

> The Wall Street Journal takes a close look at the maturation of the biotech industry, from the heady days of the early 2000s when it seemed the sky was the limit, to the return of reality as stock prices dropped and established biotechs began to wrestle with many of the problems once reserved for Big Pharma. Report [16]

> Netherlands-based Merus has raised $30.7 million (€21.7 million) Series B financing. Item [17]

> Massachusetts-based start-up Flexion Therapeutics has scored big, signing licensing agreements with major pharma players and securing financing from Pfizer, the company has announced. Story [18]

> The cold winds sweeping through the biotech industry a year ago forced a slew of developers to huddle up. Budgets were chopped, positions lost and outsourcing--which has long been a favored biotech strategy--became a dominant theme for the hardy survivors. Report [19]

> The FDA wants more data on Theravance's Vibativ (telavancin) before it will approve the treatment for nosocomial pneumonia. Story [20] 

And Finally... A New Jersey planning board approved Merck's application to install a helicopter landing pad. Report [21]