ALSO NOTED: Smith & Nephew probes sales infractions; FDA gives nod to expanded Advair use; Eisai wins round in Aricept reimburs

> Smith & Nephew said "unacceptable" sales practices in a business it bought last year will cost it more than $100 million in lost sales and around $25 million in profits; the company has launched an internal investigation. Report

> FDA gave its blessing to expanded usage of GlaxoSmithKline's best-seller Advair Diskus; the drug can now be marketing to patients with chronic obstructive pulmonary disease. Advair release

> Under a new court ruling, Eisai and Pfizer will get access to an economic model used by U.K. drug regulators to decide that their Aricept drug shouldn't be used  in mild cases of Alzheimer's. Report

> Testing for genetic mutations in leukemia patients could help doctors decide which treatment methods to use, a new study in the New England Journal of Medicine concludes. Report

> The Australian government has added Tykerb to its formulary for HER2-positive breast cancer. Report

> Boehringer Ingelheim boosted sales by 8.8 percent to $17 billion, posting profits of $3.25 billion; human pharmaceuticals revenue grew by 10 percent. Report 

> Watson Pharmaceuticals posted $50.6 million in first-quarter profits, up from $31.6 million a year ago, despite a 7 percent drop in revenue to $626.9 million on slower oxycodone sales. Watson release

> Endo Pharmaceuticals settled a proxy battle with shareholder D.E. Shaw & Co, which owns some 13.2 million of the company's outstanding shares. Report

> Sepracor's first-quarter net income fell by 35 percent to $12.2 million on a 2 percent decline in revenues to $320.8 million. Report

> Researchers for Sweden's Independent Pharmaceutica are launching a mid-stage study of a new nicotine vaccine designed to help people give up smoking. Vaccine report

> Faced with back-to-back rejections of two would-be blockbuster drugs for cholesterol, analysts have been reading the tea leaves for what this could portend for developers. Report

> Even before its first compound hits the clinic, Concert Pharmaceuticals is having no trouble raising venture funds. The Lexington, MA-based developer has just ginned $37 million in a new venture round. Report

> Lawmakers in Florida have opted against pumping a fresh $25 million into its Innovation Incentive Fund. Report

And Finally... Between 30 percent and 50 percent of medicines for chronic illness aren't taken as directed, a WHO report shows. Report

Suggested Articles

Mobile has become universal, accessible, and multi-generational. It’s time for life science brands to revolutionize how they’re telling their story.

Former Retrophin CEO was hoping for a SCOTUS hail mary to escape his seven-year fraud sentences Turns out the court was interest in hearing his plea.

A new investigation shines light on how Purdue pushed back on negative coverage of opioids, placed opioid-friendly experts in think tanks and more.