Zentiva board rejects PPF bid; Judge upholds AZ fraud verdict

> Zentiva recommended its shareholders reject PPF's buyout bid of 950 Czech crowns per share as it fails to reflect Zentiva's underlying value and future prospects; while noting Sanofi-Aventis' counteroffer of 1,050 crowns, the company didn't comment on further. Report

> A state judge upheld the fraud verdict that Alabama won against AstraZeneca in a Medicaid drug pricing suit, but ruled today the punitive damages were too high, trimming the total judgment to $160 million. Report

> India's patent office rejected German pharma major Boehringer Ingelheim’s product patent application for its pediatric form of the anti-AIDS drug Nevirapine. Report

> Boston Scientific has agreed to sell pieces of its investment portfolio to raise a total of $140 million before taxes and help pay off debt, but also force the medical device maker to record losses against second-quarter earnings. Report

> Moody's Investors Service assigned an 'Aaa' rating to Johnson & Johnson's new senior unsecured note offering. Report

> Perrigo got final Food and Drug Administration approval for a generic version of Johnson & Johnson's allergic rhinitis treatment, Zyrtec Syrup. Report

> Cambridge, MA-based Alnylam Pharmaceuticals has signed on to a $93 million pact with Japan's Kyowa Hakko Kogyo to develop an Respiratory Syncytial Virus therapy for Asian markets. Report

> Canada is giving about $98 million to the Canadian Cancer Stem Cell Consortium so that the country's stem cell scientists can work in tandem with the California Institute for Regenerative Medicine. Report

> The Governator turned up at BIO on Tuesday, winning over a full house of star-struck biotech executives with a few bad jokes and a big huzzah for the state's $3 billion stem cell initiative. Report

> Investors took a big bite out of Discovery Laboratories' stock value after the developer announced that it would delay a response to the FDA on its experimental lung drug for infants by two months. Report

> Carl Icahn's high noon showdown with the executive team at Biogen Idec ended in a rare defeat for the Wall Street spoiler. Report

And Finally ... Didn't make it to San Diego for BIO this year? Then take a look at these show floor photos to see what you missed. Photo slideshow

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