The Day In Review: Johnson & Johnson Sells Zantac For $509.5 Million

October 13, 2006 – Boehringer Ingelheim paid $509.5 million for US rights to Zantac, the heartburn drug being sold as part of J&J's acquisition of Pfizer's OTC division; Endo Pharma will buy RxKinetix of Boulder for $20 million upfront; Discovery reported positive Phase II data from a test of Surfaxin for BPD; Aspreva Pharma reported lower preliminary revenues for its Q3; MGI Pharma received an approvable letter for Saforis Powder, an oral mucositis therapy; Prana said its auditors issued a going concern warning; Genta will begin a Phase I trial of an antisense cancer drug; and Hollis-Eden said Neumune, its drug for acute radiation syndrome, produced positive results in clinical trials. The Centient Biotech 200™ slipped 6 points lower to 3930, a loss of .17%. More details...