Abbott gets EU clearance for Solvay buy; Indian drugmakers' profits set to soar;

 @FiercePharma: No generics push for AZ, Brennan says. Report | Follow @FiercePharma

> The E.U. has cleared Abbott Laboratories' purchase of the Belgian company Solvay's pharmaceuticals unit--on the condition that Solvay's cystic fibrosis testing business be sold. Report

> Net profits at 25 leading Indian drugmakers are set to soar more than 50 percent this year, while their consolidated revenues will increase 10 percent -14 percent, according to a new analysis. Report

> A Philippines court has denied Pfizer's bid to stop the sale of a generic version of its blockbuster statin drug Lipitor, but another patent infringement case is still under way. Report

> Leerink Swann reaffirmed its "outperform" rating for Pfizer. Report

> Abbott Laboratories announced that the FDA has granted approval of a new heat-resistant tablet formulation of its antiretroviral medication Norvir (ritonavir). Report

Biotech News

 @FierceBiotech: Roche diabetes drug taspoglutide performs like a blockbuster in Phase III. Article | Follow @FierceBiotech

 @JohnCFierce: My take on taspoglutide: Roche knows it has a winner and is drawing out the data parade for max attention. Follow @JohnCFierce

> Merck has handed back rights to Anacor Pharmaceuticals' anti-fungal treatment, AN2690. Story

> International businessman Eugene Melnyk (photo) is considering a number of financing options for his company Trimel BioPharma--including an IPO, Dow Jones reports. Report

> Curis will receive $8 million in milestone payments from its Swiss partner Debiopharm after French authorities approved a CTA for a study of Debio 0932, a potential treatment for tumors. Story

> Watch the Medicines Company shrink. Just one month after announcing a 10 percent reduction in its 300+ person staff, the Parsippany, NJ-based developer said today that it's axing another 43 jobs, or 26 percent of its field-based workforce. Article

> When Pfizer refocused its ops in November, it left about 600 of its 1,000 employees in the St. Louis area without a job. But St. Louis University doesn't want to see that talent go to waste. Report

> Both Shire Pharmaceuticals and Protalix have rolled out a fresh barrage of promising late-stage data for their next-gen Gaucher disease drugs, with each taking another big step toward a market that delivers $1.2 billion a year to Genzyme. Story

And Finally... Just in time for Valentine's Day, researchers find that eating chocolate may lower the risk of stroke. Report

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