Genzyme Corp. (Nasdaq: GENZ) and Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) announced that they have entered a major strategic alliance in which Genzyme will develop and commercialize mipomersen, Isis' lipid-lowering treatment for high risk cardiovascular patients that utilizes novel antisense technology. As part of the strategic relationship, Genzyme will also have preferred access to future Isis drugs for CNS and certain rare diseases.

Pfizer Inc and Taisho Pharmaceutical Co., Ltd. have signed a definitive agreement, which replaces the letter of intent previously signed between the companies, for worldwide (excluding Japan) collaboration to research, develop and commercialize TS-032, a new schizophrenia drug candidate discovered by Taisho, currently in pre-clinical development.

The European Commission has granted marketing authorization to MabCampath® (alemtuzumab) for the treatment of patients with B-cell chronic lymphocytic leukemia (B-CLL) for whom fludarabine combination chemotherapy is not appropriate.

Lundbeck has initiated phase I clinical studies with Lu AA37096 in order to investigate safety, tolerability and the pharmacokinetic profile of the drug in humans. Lu AA37096 has been discovered based on findings with the unique mechanism of action of escitalopram (Cipralex®) but incorporates effects on a number of additional targets in the brain.

Pfizer Inc said that it has completed the sale of its Pfizer Consumer Healthcare business to Johnson & Johnson for $16.6 billion or about $13.5 billion in after-tax proceeds.

European health authorities have supported changes proposed by Novartis to prescribing information for Galvus® (vildagliptin), opening the way for the formal regulatory approval of these changes as well as the launch in the European Union of this new oral treatment for patients with type 2 diabetes.

Pfizer Inc announced it has entered into an agreement to acquire CovX, a privately-held biotherapeutics company specializing in preclinical oncology and metabolic research and a developer of a biotherapeutics technology platform that will enhance Pfizer's biologic portfolio.