FDA lets Shire launch Gaucher drug pre-approval; Sun Pharma, MedImmune settle Eythyol fight;

> Shire said the FDA will allow it to distribute its Gaucher disease drug before FDA approval, to blunt the shortage of the only drug on the market, Genzyme's Cerezyme. Report

> Sun Pharmaceutical Industries settled a lawsuit with MedImmune on a generic version of the cancer drug Ethyol, in a deal giving Sun a license to continue to sell the copycat version in the U.S. Report

> UBS downgraded Genzyme to neutral from buy, citing continuing manufacturing issues affecting two of its best selling medications and the potential delay of a U.S. launch of another product. Report

> Astellas Pharma, Japan's second-largest drugmaker, posted a 2.6 percent drop in first-quarter profit after a stronger yen eroded its sales outside of Japan. Report

> AstraZeneca is to join the exodus from central London to Paddington, as FTSE-100 companies and other large businesses head out of town to cut costs. Report

> Less than a month after duty cuts on lifesaving drugs were announced in India's budget, Roche took the first step passing on the cost benefit by slashing prices of its arthritis treatment Actemra. Report

> India's exporters are facing non-tariff barriers like visa and consular issues in the lucrative E.U. market, especially in the pharma and IT sectors, a key Indian business official said. Report

Biotech News

> Meeting just after Philip Morris shuttered a local plant and laid off 1,000 workers, a group of North Carolina mayors and public representatives gathered at Piedmont Triad Research Park to brainstorm a new set of incentives aimed at prodding the development of the state's biotech industry. Report

> In a new sign that investors may be warming to biotech stock offerings, Micromet has outlined plans to raise between $70 million and $80 million from the sale of up to 16.1 million shares. Report

> AstraZeneca is waiting this morning for word of the FDA's decision on its new, and closely watched, diabetes drug Onglyza. The agency was scheduled to deliver a verdict yesterday, but AstraZeneca says they haven't heard anything yet. Report

> Schering-Plough took another big step in its quest to gain marketing approval for the antipsychotic blockbuster asenapine, winning the backing of an expert panel in a lopsided vote. Report

> Shares of Cytos Biotechnology jumped on the news that its mid-stage study of an experimental allergy vaccine hit its primary endpoint. Report

And Finally... More than half of children taking Tamiflu suffer side effects such as nausea, insomnia and nightmares, U.K. researchers said. Report