The Day In Review: Pfizer Inc. Buys Drug, Settles Patent

April 13, 2006 -- Pfizer paid $100 million to settle a patent dispute and also acquire an overactive bladder drug candidate from Schwarz Pharma AG; Gilead made a $25 million investment in Corus, a privately held biotech based in Seattle; Cortex gave some (but not much) clarification to the clinical hold placed on Ampakine; Medtronic won FDA approval of its MiniMed Insulin Pump; the Phase III trial of Entereg, which treats the gastrointestinal side-effects of opioids, has now been fully enrolled; MGI Pharma completed its filing for approval of Saforis, its therapy for oral mucositis; Bayer formally made its $20 billion takeover offer for Schering AG; and the IPO of Omrix has been delayed until next week. The Centient Biotech 200™ traded 26 points higher to 3826.47, a rise of .69%. More details...

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