> European drug watchdogs placed restrictions on GlaxoSmithKline's Avandia, and the company said it would revise the diabetes drug's European labeling to warn of a possible increased risk of heart attack. Report
> The banned drug thalidomide, which caused thousands of birth defects until it was withdrawn almost 50 years ago, may be resurrected to treat bone marrow cancer, on the condition that it be strictly controlled. Report
> Bayer is withdrawing the liquid formulation of Leukine because of reports that it is causing patients to faint; the reaction hasn't been seen in lyophilized Leukine, which will remain on the market. Release
> Women who use birth control pills are protected from ovarian cancer for decades after they stop taking it, a new study in The Lancet shows. Report
> MiddleBrook Pharmaceuticals' stock surged yesterday after the FDA approved its Moxatag drug to treat strep throat in adults and kids 12 years and older. Report
> Amgen's sales fell 2 percent in the fourth quarter to $3.74 billion, but the company managed to eke out a $835 million profit for the period, an increase of 1 percent. Report
> Celgene shares fell after a European advisory committee recommended against expanding the use of its Revlimid drug to anemia patients. Report
> California biotech: Strong, growing but worried. Report
And finally... Vitamin E may ward off physical decline in the elderly, a new study shows. Report