BMS disappoints Street with flat forecast; Dr Reddy's sees near-term benefit from GSK deal;

 @FiercePharma: Pharma execs lament 'tough' outlook for 2011. News | Follow @FiercePharma

> Continuing a pharma trend, Bristol-Myers Squibb reported a disappointing quarterly profit and forecast roughly flat earnings this year instead of the 3 percent growth Wall Street expected for the drugmaker. Story

> Dr Reddy's Laboratories, India's No. 2 drugmaker, will start to see the benefits from its tie-up with Britain's GlaxoSmithKline in two or three years, its chief executive said. Report

> Celgene said its fourth-quarter net earnings fell 16 percent as acquisition-related charges offset higher sales of its cancer drugs. News

> The role of procurement was a driving force in Novartis' 2010 cost performance, as the company reportedly saved $1 billion from improved purchasing operations. Item

> The U.K.'s cost-effectiveness watchdog has published updated final guidance on preventing osteoporotic fractures following a reconsideration of the use of Servier's Protelos. Story

> An Illinois official calls Abbott Laboratories' plans to lay off 1,900 people, mostly in that region, are "devastating" and that the situation is "tragic" for local families and the economy. Report

> Pfizer has said that the waiting period to acquire King Pharmaceuticals under the Hart-Scott-Rodino Antitrust Improvements Act has been terminated. News

Biotech News

 @FierceBiotech: Abbott chops 1,900 workers after experimental drugs flop. Article | Follow @FierceBiotech 

 @JohnCFierce: Viehbacher on Genzyme buyout: A good way to amp up its biotech work. Report |  Follow @JohnCFierce

> Sanofi breast cancer drug flunks Phase III trial. Story

> Arena ($ARNA) shares slide after it slashes staff, outlines FDA's lorcaserin demands. News

> Canada's Angiotech files for bankruptcy protection. Story

> Vertex plots move to Boston waterfront property. Item

> GSK, Actelion put failed sleep drug to rest. Report

And Finally... A nationwide survey of college freshmen found that their emotional health had fallen to the lowest level since the poll was introduced a quarter century ago. Report