GlaxoSmithKline (GSK) and the Harvard Stem Cell Institute (HSCI) announced that they have entered into a five-year, $25 million-plus collaborative agreement to build a unique alliance in stem cell science, leading to the development of new medicines.

Bayer HealthCare Pharmaceuticals and Onyx Pharmaceuticals, Inc. today announced that the State Food and Drug Administration (SFDA) of China has approved Nexavar® (sorafenib) tablets for the treatment of patients with unresectable or metastatic hepatocellular carcinoma (HCC), or liver cancer.

Bayer HealthCare AG and Onyx Pharmaceuticals, Inc. announced that The New England Journal of Medicine published landmark results of a Nexavar study in liver cancer. The data of the Phase III trial showed that Nexavar® (sorafenib) tablets decreased the absolute risk of death by 31 percent in patients with unresectable hepatocellular carcinoma (HCC), or liver cancer, versus patients who received placebo.

Pfizer Inc (NYSE: PFE) reported financial results for the second-quarter 2008. The Company recorded revenues of $12.1 billion, an increase of 9% compared with $11.1 billion in the year-ago quarter. In the U.S., revenues were $4.8 billion, a decrease of 2%, while international revenues were $7.4 billion, an increase of 18%. Revenues reflect the positive impact of foreign exchange, which increased revenues by approximately $800 million or 7%, as well as the solid performance of many key products.

GlaxoSmithKline (GSK) is launching a ground-breaking new concept which will tap into the highest quality thinking in academia to optimise the early clinical development of new GSK medicines in a model of shared risk and reward.

• First-half results for continuing operations led by improving Pharmaceuticals performance ahead of expectations and expansion in Vaccines and Diagnostics
• Net sales rise 11% (+2% in local currencies) to USD 20.6 billion
• Operating income advances 12% to USD 4.9 billion on business expansion, productivity gains and currency benefits

Abbott (NYSE: ABT) announced financial results for the second quarter ended June 30, 2008.

• Diluted earnings per share, excluding specified items, were $0.84, above Abbott's previously announced guidance range of $0.78 to $0.80, reflecting 21.7 percent growth. Diluted earnings per share under Generally Accepted Accounting Principles (GAAP) were $0.85, up 34.9 percent.