Valeant's Q1 profits beat expectations; J&J's Stelara helps with Crohn's disease, study shows;

@FiercePharma: Canada bars Biovail founder Melnyk from executive office. News | Follow @FiercePharma

> Valeant Pharmaceuticals, which dropped its bid for Cephalon last week, posted a quarterly profit that beat market estimates, helped by the strong performance of its specialty and generic drug businesses. News

> Johnson & Johnson's Stelara helped a significantly higher percentage of Crohn's disease sufferers than those who received a placebo, according to a study of patients who had not been helped by other commonly used drugs. Report

> Argentina has promised to review its ban on import of India's pharmaceutical products, and as a gesture in the positive direction, it announced purchase of $200 million worth of drugs from Indian firms. Item

> A five-week flurry of federal appellate hearings on the constitutionality of the Obama healthcare law kicks off this week in Richmond, VA, beginning the second round of a race to the Supreme Court. Report

> In an effort to "strengthen the firewall" between CME and pharma promotion, the Accreditation Council for Continuing Medical Education proposed a policy change that would prohibit corporate logos from appearing in commercial support disclosure statements. Story

> Florida's legislature passed a bill that aims to crack down on the notorious "pill mills" that have made the state the epicenter of illegal prescription-drug sales in the country. Article

> Sinocom Pharmaceutical, a Chinese distributor of pharmaceutical products, announced it will conduct an IPO on the Nasdaq Global Market exchange, offering 15.8 million shares from selling stockowners, or about 18 percent of the firm's capitalization. Item

> India's Zydus Cadila registered 41 percent growth in profits for the year ended March 31, 2011, driven by growth in formulation exports, in its India formulations business and its consumer business. Report

> The U.S. Trade Representative's latest criticisms of New Zealand's drug agency PHARMAC have drawn angry responses in that country. Story

> American Reagent is to resume production at its New York plant after investigating cases of glass delamination, an increasingly high-profile problem. News

> An Arizona-based pharmaceutical company has been fined and placed on probation for violating federal laws governing dietary supplements. Report

> The hot flashes that are common during and after menopause may last an average of more than 10 years, more than twice as long as previously assumed, a study showed. Article

Biotech News

 @FierceBiotech: Sanofi terminates $375M Metabolex diabetes deal. News | Follow @FierceBiotech 

 @JohnCFierce: I'm getting a sense that Big Pharma companies really are ready to walk away from deals they don't much like. It's not just talk. Follow @JohnCFierce

> Are overseas trials generating suspect data on new drugs? News 

> Merrimack ropes back international rights to cancer drug in $220M pact. Story 

> AZ touts cost effectiveness data on blockbuster hopeful Brilinta. Report

Biotech IT News

> Scientists create 'schizophrenic' computer network to understand the disease. Item 

> Merge Healthcare part of "virtual" lab for cancer trial. Report 

> David Shaw goes from high finance to high-tech biotech simulations. Story 

> PerkinElmer acquires Geospiza, recognizes importance of genomic information. News 

> Open source drug discovery for the developing world. Article 

> Computational biology explains anti-cancer side-effect of HIV drug. Item 

Medical Device News

> Wright Medical replaces 3 more execs as USAO puts co. on notice. Report 

> U-Systems raises $6.5M in funding for breast screening application. Story 

> Samsung Medison aiming to become leading devicemaker by 2020. Item 

> Medtronic, Bayer Healthcare extend diabetes alliance. News 

> Boston Sci introduces smallest, thinnest high-energy CRT-Ds and ICDs. Article 

> FDA clears MicroPhage's test for drug-resistant Staph. Report 

> ITGI completes development of pericardium-covered stent. Story 

And Finally... The NFL has talked to the World Anti-Doping Agency about overseeing testing of players for performance-enhancing drugs if a federal appeals court forces the league to stop the lockout and establish rules for operating this season, the New York Times says. Report