Gedeon Richter licenses KV products; Canadian court rejects copycat Viagra;

Hungary's Gedeon Richter signed a deal with U.S.-based KV Pharmaceutical for licensing rights to some of KV's technologies and products. Report

The Federal Court of Canada rejected Novapharm's bid to market a generic version of Pfizer's erectile dysfunction drug Viagra. Report

The recall of nasal versions of Matrixx Initiatives' Zicam cold remedies could cost as much as $10 million, the company's top executive said. Report

The FDA approved Allergan's Ozurdex treatment for the retinal disease macular edema. Report

Pharma pumped $28.7 billion into New Jersey's sputtering economy last year even as the largest companies steadily slashed jobs, according to a statewide trade group. Report

Bristol-Myers Squibb and AstraZeneca joined forces with Diabetes UK to launch a national patient survey on the effects of hypoglycaemia. Report

The Medicines Company said FDA granted pediatric exclusivity for Angiomax, its anticoagulant, staving off generic competition till September 2010. Report

Abbott Laboratories and Dey asked a Massachusetts federal court to sanction the U.S. Department of Justice for destroying evidence in a multidistrict wholesale drug pricing case. Report

Biotech News

Massachusetts-based ImmunoGen is offering 5 million shares of its stock at a price of $7.00 per share. The company is hoping to raise a total of $33 million after underwriting discounts, commissions and expenses. Report

Aastrom's shares are up on the news that the FDA has lifted a clinical hold on the company's Phase II congestive heart failure trial. Report

Opko Health has decided to move into vaccine development and diagnostics following a crucial clinical trial failure in opthalmology last March. Report

The FDA has approved Novartis' Ilaris (also known as canakinumab or ACZ885), a treatment for children and adults with cryopyrin-associated periodic syndrome (CAPS). Report

And Finally... Smart idea? Healthy people should be able to take the anti-hyperactivity drug Ritalin to boost brain power, a UK ethicist says. Report