J&J recalls pain device in Europe; Baxter posts big earnings uptick;

> Johnson & Johnson issued a recall for its Ionsys pain-treatment device from hospitals in Europe, adding to concerns about the health-care conglomerate's ability to develop lucrative new products. Report

> Elan shareholders have filed a class action suit against the company. The biotech is being accused of making false and misleading statements regarding the development of the Alzheimer's drug bapineuzumab, which led to a significant loss in profits. Report

> Baxter International reported a stronger-than-expected 23 percent upturn in third-quarter earnings on revenues of $3.15 billion, as its BioScience segment continued to record rapid growth. Report

> CytRx's affiliate RXi Pharmaceuticals has licensed exclusive rights to technology that could allow for the oral delivery of RNAi therapeutics. CytRx says the technology will be used to treat inflammatory diseases such as rheumatoid arthritis, asthma and Type II diabetes. Report

> Bayer got the European nod for its new oral contraceptive Qlaira, which is based on estradiol, the same estrogen produced by the female body. Bayer release

> Icelandic firm deCode Genetics will be removed from the NASDAQ if the company can't find a way to boost its share prices. DeCode's stock has plunged 54 percent since early September, and though a series of positive announcements have boosted share prices, deCode's stock is currently trading at about 53 cents. Report

> Teva Pharmaceutical will sell its Israel-based veterinary business unit to Phibro Animal Health Corp. for about $47 million. Teva release

> Japan-based SBI Biotech and Baylor Research Institute have inked a licensing deal and development agreement to develop anti-cancer vaccines for Asian markets, which could possibly include Japan, Taiwan and Korea. Report

> The Bulgarian Drug Agency is blocking the delivery and sale of the AstraZeneca cardiac medication Betaloc Zoc because of packaging problems. Report

> State regulations requiring prescriptions for flu shots may keep many from getting immunized and leave millions of vaccines unused. As many as 20 million units may be disposed of this year, resulting in losses for vaccine producers such as Sanofi, which manufactures 50 percent of the countries vaccines. Report

> AstraZeneca and Columbia University Medical Center today announced a new research collaboration to examine how neurogenesis--the creation of new neuronal cells--in adults might offer novel approaches to treating depression and anxiety. Release

> An international AIDS vaccine summit has provided a stage for some gloomy prognostications on vaccine research--and drug research in general--during a time of economic crisis. Report

And Finally... Tooling around on the Internet could boost your brain power and prevent cognitive decline. Report