Anavex Life Sciences Corp. ("ANAVEX") (OTCBB: AVXL), a biopharmaceutical company engaged in the discovery and development of novel therapeutics to treat Central Nervous System (CNS) diseases and cancer, today announced the successful completion of preclinical studies (in-vitro and in-vivo in mice) on ANAVEX 2-73, a novel sigma-1 receptor agonist for the treatment of Alzheimer's disease.

Novartis has decided not to pursue further development of the pharmaceuticals pipeline project Aurograb(TM), an add-on therapy to antibiotics that was being assessed for use in treating deep-seated staphylococcal infections, following a review of recent Phase II clinical data showing a lack of efficacy.

The development of Xarelto® (rivaroxaban), a novel oral anticoagulant, has taken another step forward. Phase II results in patients with acute coronary syndrome (ACS) have been chosen for the Late Breaking Clinical Trial session at the American Heart Association's (AHA) upcoming Annual Meeting in New Orleans, USA.

The Abbott Fund joined representatives from the U.S. government, Baylor College of Medicine, the government of Tanzania and other partners today at a U.S. President's Emergency Plan for AIDS Relief (PEPFAR) news conference to announce a joint effort to improve care and treatment for children with HIV/AIDS in Tanzania.

GlaxoSmithKline (GSK) and Valeant Pharmaceuticals International (NYSE: VRX) announced that they have entered into an exclusive worldwide collaboration agreement for the investigational drug retigabine, a first in class neuronal potassium channel opener for treatment of adult epilepsy patients with refractory partial onset seizures.

Bristol-Myers Squibb Company (NYSE: BMY) and Pfizer Inc (NYSE: PFE) provided an update on the apixaban clinical development program. The companies announced that new Phase II data in acute coronary syndrome patients (ACS) will be presented at the upcoming meeting of the European Society of Cardiology (ESC).

Lundbeck's partner Teva Pharmaceutical Industries Ltd. has announced that results of the phase III ADAGIO trial were presented during the 12th Congress of European Federation of Neurological Societies (EFNS) in Madrid, Spain. The ADAGIO study showed that Parkinson's disease patients who took Azilect® (rasagiline) 1mg tablets once-daily upon entry into the trial, demonstrated a significant improvement compared to those who initiated therapy with the drug nine months later.