Medco, Hospira revenues up; J&J faces Senate committee;

> Medco Health Solutions is reporting an increase in third-quarter net income, up to $295.7 million, or 58 cents a share, from $214.7 million, or 39 cents a share, last year, which is less than analysts predicted. Report

> Hospira is also seeing an increase in third-quarter net income, up to $81.8 million, or 51 cents a share, from $59.4 million, or 37 cents a share, from last year. Release l Report

> It will be interesting to see what happens after GlaxoSmithKline tells employees about its pending reorganization of its stateside operations, which will likely hit sales reps the hardest. Report

> Johnson & Johnson will be answering Senate committee questions about the company's connections with physicians regarding a psychiatric medication as well as regarding its Cypher stents. Report

> A pair of Connecticut politicians are hoping Jeff Kindler, Pfizer CEO, will keep outside contractors--some of whom have been working for Pfizer for a decade--rather than replacing them with foreign workers. Report

> Amylin shares sunk like a ship following yesterday's announcement that its diabetes drug, exenatide LAR, might face regulatory delays. Report

> ImClone Systems Incorporated announced the expiration of its waiting period under 1976's Antitrust Act (HSR) regarding the tender offer for its shares by Eli Lilly. Report 

> Specialty pharma company, Urigen Pharmaceuticals, is the latest on the list of companies implementing restructuring plans to reduce operating expenses. Report 

> OncoMed Pharmaceuticals has added a cool $93 million to its Series B after completing the second tranche in the round. The new money brings the Redwood City, CA-based biotech's second round haul to $154 million. Report

> Shares of Osiris Therapeutics rocketed up 26 percent after the developer announced that Genzyme had agreed to pay up to $1.38 billion to develop two adult stem cell therapies. Report

> John Patterson (photo) is retiring after seeing "mixed" responses from his stint as chief of development at AstraZeneca. Pharmalot notes Patterson, 61, will be replaced by Anders Ekblom, 54, who takes over at the end of January. Report

> France's NicOx announced positive results from a 118 patient blood pressure trial, which compared its experimental arthritis drug naproxcinod and a traditional painkiller, naproxen, in osteoarthritis patients with controlled hypertension. Report

> Avigen is cutting 70 percent of its work force and is looking to downsize its office space as it comes to terms with last month's failure of a new drug for multiple sclerosis. The company terminated its development program for AV650 after it failed a mid-stage trial. Report

And Finally... A single daily dose of a new experimental drug might increase muscle mass in old people's extremities, making them less worn for the wear, report researchers at the University of Virginia Health System. Release