April 10, 2007 -- GlaxoSmithKline and Adolor said Entereg, their drug for opioid-induced constipation, was found to cause cardiovascular and neoplasm side effects; ImClone and Bristol-Myers Squibb reported that Erbitux was not effective against pancreatic cancer; Ortho-McNeil recalled all the bottled versions of a drug called Grifulvin; Inhibitex will pay $19 million to acquire FermaVir Pharma in an all-stock transaction; Orexigen Therapeutics set terms for its pending IPO; and Renovis will extend its drug deve lopment research agreement with Pfizer for another year. The AMEX Biotech Index was lower by .67%. More details...
