Schering-Plough boasts successful study; biotech industry suffering;

> Schering-Plough reported that a study of its experimental drug, sugammadex, reverses the effects of muscle-relaxing drugs used in general anesthesia to help patients recover more quickly and safely. Report

> Roche announced that a fifth Phase III rheumatoid arthritis study confirmed disease remission in patients treated with Actemra. Report

> Newtown, MA-based Clinical Data announced that it will acquire Avalon Pharmaceuticals for $10 million. Report

> Ed Silverman at Pharmalot makes a funny with a handy dandy Vytorin planner gift. Report

> Cephalon's adjusted third-quarter earnings didn't meet Wall Street expectations with a profit at $112 million, but it boosted its overall annual forecast. Report

> The State-Boston Retirement System of Massachusetts says the $6.5 billion merger of Eli Lilly and ImClone is the result of a "hopelessly flawed" process and the pension plan wants it stopped. Report

> The biotech industry is suffering much more than the pharma industry overall, and the word on the street is that many small biotechs will go bankrupt, cancel trials, cut more jobs or get swallowed. Report

> New York-based Promosome hauled in $9.6 million for its second round of venture capital, surpassing a goal of raising $7.5 million. Report

> An international team of scientists say they've developed a new process to make artificial antibodies that bind with the same specificity as natural antibodies. These new antibodies--made from polymers rather than proteins--promise to be cheap and long-lasting. Report

> Shares of ZymoGenetics were battered yesterday after the company announced that Merck KGaA had discontinued a trial on a partnered therapeutic after researchers noted a high risk of infection for volunteers. Its stock plunged 29 percent on the news. Report 

> Scripps researchers say they've identified a catalytic antibody that works against ghrelin, a gastric hormone that plays a key role in fat storage and weight gain. The antibody may offer new tool to fight obesity by targeting the biologic mechanisms that trigger weight gain. Report

> Switzerland's Nycomed says it has the late-stage data needed to make a solid case to regulators for its lung disease drug Daxas. And now it's touting the data to partners who might be interested in snagging the U.S. commercialization rights. Report

And Finally... Scientists have found a way to selectively erase certain memories. An approach that may one day be used to delete memories that people no longer want to recall. Report