Takeda profits drop 20% on costs; AZ's development chief to retire

> Several of the keynote speakers for the upcoming BIO-Europe 2008 in Germany plan to focus on the ongoing revolution in drug discovery. R&D report

> The largest Japanese drugmaker, Takeda Pharmaceutical, reported Tuesday a 20 percent fall in second-quarter profit on acquisition costs and said a stronger yen had prompted it to trim its full-year forecast. Report

> John Patterson (photo), a key figure in the development of breast cancer drug tamoxifen, is to retire from AstraZeneca next March, the company said today; Patterson is now executive director in charge of development. AstraZeneca report

> Caraco Pharmaceuticals, a subsidiary of India's Sun Pharma, received a warning letter from the FDA over its manufacturing facility in Detroit. Report

> Minnesota has joined a growing number of states charging Eli Lilly with downplaying side effects of its antipsychotic Zyprexa and marketing the drug for unapproved uses. Report

> International pharmaceutical giant Merck Sharpe & Dohme is to hire 170 full-time staff for its new vaccine facility in county Carlow, Ireland. Report

> A Philadelphia judge has asked the state Superior Court to uphold another of his rulings dismissing a plaintiff's personal injury complaint that Wyeth, the manufacturer of her hormone replacement therapy drugs, is liable for her breast cancer. Report

> Strides Arcolab announced the company got the FDA nod for its Parnidronate Disodium injection 3mg/ml and 9mg/ml single use vials. Report

> A boost in revenue from a collaborative agreement with Merck helped Dynavax Technologies cut its loss in the third quarter. Report

> In a brief statement, Swedish biotech firm Q-Med said it has received a $502 million offer from from Ivytan, a firm owned by private equity group EQT V and Lyftet Holding. Report

> Yesterday the FDA announced several drug approvals. Report

> India's Bharat Biotech International and the state of Orissa have entered into a public-private partnership to construct a $20 million technology park for pharmaceutical and biotechnology companies. India report

And Finally... A none-too-subtle reminder of pharma's raison d'être: A new virus that causes fatal hemorrhagic fevers has been discovered in southern Africa. Report