ALSO NOTED: Advanced Medical eyes Bausch & Lomb; Departing Pfizer execs pocket millions; Shire announces positive ADHD data

Shares of Bausch & Lomb surged this morning after Advanced Medical announced that it was willing to top a $3.7 billion bid made by Warburg Pincus. Report

Departing Pfizer CFO Alan Levin is taking a $2 million severance payment while the exiting R&D chief John LaMattina will pocket $3.3 million on the way out the door. Their successors are expected to be announced by the end of this year. Report

Shire has announced positive data from a series of late-stage studies involving guanfacine extended release, a selective alpha-2A-adrenoceptor agonist for ADHD. Release

Micromet and Nycomed today announced an agreement under which the two companies will collaborate on the development of anti-GM-CSF antibodies that may be useful for the treatment of inflammatory and autoimmune diseases. Micromet gets an upfront licensing fee of $7 million. Release

Sciele Pharma has agreed to take a $7 million stake in the UK's Plethora Solutions in a deal that gives it the rights to market Plethora's experimental therapy for premature ejaculation in the U.S. Plethora is planning a late-stage study in the second half of this year. Release

Ventana Medical Systems has inked a non-exclusive collaboration agreement with Genentech to co-develop and commercialize tissue-based diagnostic assays for therapeutic candidates designated by Genentech. Ventana will receive service fees through the development process, and in conjunction with the therapeutic candidate obtaining regulatory approval, have rights to commercialize any potential associated companion diagnostic test. Release

The FDA has approved Mission Pharmacal' Tindamax(tinidazole) for the treatment of bacterial vaginosis, the most common vaginal infection among women of childbearing age. Release

**And Finally...**A new survey released by Biocom and PwC shows that most biotech companies believe the FDA has been doing a better job at working with drug developers and approving new products since it began charging fees in 1997. Report