Goldshield directors back management's takeover; Bayer faces almost 1,000 Trasylol suits in FL;

> British generic drug supplier Goldshield's independent directors have lent their weight to a takeover bid by the company's management after effectively saying a rival must massively increase its offer to win. Report

> Bayer faces almost 1,000 lawsuits in a Florida federal district court regarding its anti-bleeding drug Trasylol, according to the docket in the case. Report

> Bayer reaffirmed its full-year outlook and posted forecast-beating operating earnings. Report

> GlaxoSmithKline and Genmab got the FDA nod have won U.S. approval to sell their leukaemia drug Arzerra, marking a small positive for the British group and a major milestone for its smaller Danish partner. Report

> GlaxoSmithKline is expected to report higher third-quarter earnings before London's financial markets open Wednesday. Report

> Belgian pharmaceutical group UCB has raised as much as €750 million ($1.13 billion) through a bond offering it launched on Monday, Belgian daily De Tijd reported. Report

> India's Lupin said its second quarter net profit grew 39 percent from a year earlier, helped by higher sales of finished drugs in overseas markets. Report

> Hospital products and generic drugmaker Hospira said quarterly net earnings rose 42 percent, fueled by a new product launch, and it raised its full-year profit forecast. Report

Biotech News

> Spread the word: Roche is hiring 70 scientists over the next year for its new research center in Nutley, NJ, which is exploring new drugs for cancer, asthma and arthritis. Roche article

> Ligand Pharmaceuticals has snapped up struggling Metabasis Therapeutics for just $3.2 million. Report

> In just the latest sign of just how hot new cancer drugs have become, San Francisco-based Medivation garnered a $110 million upfront payment and a milestone package of $655 million from Astellas for global rights to its experimental prostate cancer drug. Article

> Genmab has won a $23 million milestone payment from GlaxoSmithKline on the FDA's approval of Arzerra (ofatumumab) for chronic lymphocytic leukemia. Genmab report

> Icagen's share price was battered this morning after the develop announced that it is shelving its experimental asthma drug, senicapoc, after it failed a mid-stage trial. Article

Research News

> New drug target have been discovered for the treatment of sleep deprivation. Article

> A benign adenovirus armed with a genetic payload was used to correct the sight of a dozen people suffering from a rare genetic disorder called Leber's congenital amaurosis. And their work could have broader implications in fighting macular degeneration. Report

> Are community cancer research sites reliable? Report

> Once hailed as a national hero for his groundbreaking work on new stem cell therapies, South Korean scientist Hwang Woo-suk was convicted of embezzling research funds and sentenced to a three year suspended sentence. Report

And finally ... A new report suggests that better fibromyalgia training for internists could help patients get drugs sooner. Report