FDA slaps black box onto J&J's Regranex; Biovail proxy battle intensifies as CEO blasts Melnyk

> The FDA put a new black-box warning on Johnson & Johnson's foot ulcer medication Regranex, saying that using large amounts of the cream could heighten their risk of dying from cancer by up to fivefold. Report

> The Biovail proxy battle escalated as the company responded to founder Eugene Melnyk's criticisms, saying that Melnyk's slate of directors aren't independent, and that he simply wants to use them to take control of the company again. Report

> The Bush Administration filed a brief supporting Wyeth's position in a lawsuit set for hearing at the Supreme Court, in which Wyeth claims that FDA approval should shield it from state liability. Report

> In a related story, Supreme Court Justices John Roberts and Samuel Alito have both sold at least some of their pharmaceuticals stocks after they had to recuse themselves from a pharma-related case last month. Report

> Indian drugmakers are refocusing their portfolios to put more emphasis on "lifestyle" medications such as those for heart disease and diabetes as demand for these drugs grows. Report

> Velcade, a Millennium Pharmaceuticals drug used to treat multiple myeloma, may also be a treatment for the chronic autoimmune disease lupus, German researchers said. Report

> Indian drug maker Zydus Cadila said it's made a deal to acquire a 70 percent stake in South Africa's Simayla Pharmaceuticals for an undisclosed amount. Report

> Shares of Durham, NC-based Inspire Pharmaceuticals took off this morning after researchers announced that a late-stage trial of its cystic fibrosis therapy produced promising results. Report

> Interest in longevity drugs continues to grow as new research points to the tonic effects of resveratrol. Report

> The Luxembourg government has turned to three prominent biomedical science leaders in the U.S. for an international collaboration to establish a bioscience center in the heart of the European Union. Report

> Tercica shares skyrocketed following takeover bid. Report

Emerging Drug Developer: Astex Therapeutics

And Finally... Antidepressants and sleeping pills are becoming important parts of the U.S. military arsenal in both Iraq and Afghanistan. Report