ALSO NOTED: Fuji to buy Japanese drug maker for $1.44B; BMS bumps CEO Cornelius up to chairman

> Fujifilm Holdings offered as much as $1.44 billion for midsize Japanese drug maker Toyama Chemical, in another mark of Fuji's shift toward medical products. Report | Report

> Bristol-Myers Squibb added "chairman" to CEO James Cornelius' title and duties; he replaces James D. Robinson III, who's served as non-executive chairman since 2005. Release

> A very small study presented to the American Society of Clinical Oncology showed that Pfizer's Sutent drug may be linked to more instances of heart failure than previously thought. Report

> Nastech Pharma announced plans to cut 50 jobs as part of a corporate restructuring plan; the cuts are expected to save $11 million in 2008. Release

> Taisho Pharma says it's mounting a $251.4 million tender offer for Biofermin  Pharmaceutical. Release

> Sanofi-Aventis has committed up to $500 million for the worldwide rights to Dyax's DX-2240 human monoclonal antibody product. Report

> Investors have focused their attention on Oxford BioMedica, a struggling UK developer that is the hotly rumored takeover target of Sanofi-Aventis. Report

> One of the top lawmakers in Massachusetts is predicting swift passage of a new bill that would provide a billion dollars in incentives to the life sciences industry in the state. Report

And Finally... A BusinessWeek Pro and Con: Should pharma freebies be history? Report