ALSO NOTED: Investors to pay $1.3 billion for Axcan; Smith & Nephew recalls knee implants;

> Canada's Axcan Pharma has agreed to a buyout by the private equity firm TPG Capital for $1.3 billion. Release

> Device maker Smith & Nephew is recalling some 600 knee implants that may contain too much iron; about 275 of the devices have already been implanted into patients. Report

> Germany's Merck KgaA won approval from the European Commission to sell a treatment kit for cyanide poisoning. Report

> Health Canada gave its blessing to Cangene's liquid formulation of a blood-disorder drug used in infants. Report

> The Chinese government announced that it intends to impose heavy punishments on makers of counterfeit drugs; in some cases, this may include the death penalty. Report

And Finally... A doctors' group wants to standardize and simplify prescription labels to make sure patients understand when and how to take their medicine. Report