Genzyme to toss most Cerezyme batches; Novartis gets E.U. nod on Afintor;

> Genzyme will scrap most unfinished batches of its top-selling drug Cerezyme after viral contamination at the plant where it was produced, and that 2009 results will come in at the low end of its forecasts. Report

> Novartis got the E.U. nod for Afinitor as a treatment for kidney cancer patients whose previous treatment has failed. Novartis release

> Goldman Sachs analyst Jami Rubin added Merck to the firm's "buy" list, setting a share price target of $38, up from Friday's $30.10 close. Report

> Dutch biotech Crucell missed second-quarter estimates as it reported a net loss due to delayed vaccine shipments, sending its shares to a two-month low. Report

> Ranbaxy Laboratories got final FDA approval to make and sell sumatriptan succinate tablets, used to treat migraine. Report

> Mylan also got the FDA nod for its version of Imitrex, the GlaxoSmithKline migraine treatment. Mylan release

> McKesson widened its vaccine-distribution contract with the U.S. government to include preparations for distributing H1N1 flu vaccines now under development. Report

> Cumberland Pharmaceuticals raised $85 million in the company's initial public offering Monday, with its $17 share price lower than its previous estimates. Report

Biotech News

> With Amgen's blockbuster bone drug denosumab an odds-on favorite for FDA approval, analysts will be paying close attention on Thursday to what an expert panel has to say about the drug's safety profile. Report

> Montreal-based Enobia Pharma has turned to its existing VC investors to raise $50 million to finance development of an enzyme replacement therapy for the genetic bone disorder hypophosphatasia. Report

> Barron's has taken a close look at Novartis' pipeline and bullishly concluded that the pharma giant has assembled one of the most promising drug pipelines in the industry. And those experimental therapies are expected to deliver a big bonanza for investors. Report

> Forest Laboratories has nabbed the U.S. development rights to Nycomed's experimental therapy for smoker's lung, paying $100 million upfront for the right to make and market the potential blockbuster Daxas. Report

> Australia's Biota says a late-stage Asian trial of a new influenza therapy aimed at the blockbuster space occupied by Tamiflu delivered positive data, setting it up to begin commercialization as it pursues new development pacts for Europe and the U.S. Report

And Finally...