Bristol, Tennessee-based Graceway Pharmaceuticals announced an agreement with Pfizer to acquire worldwide commercial rights for three investigational dermatological molecules. Two of the molecules will potentially treat oily skin and acne; both are in phase 2 of development. The third molecule, an ALK-5 inhibitor, is in pre-clinical development and would reduce surgical and traumatic scar formation. Financial terms of the deal were not disclosed.

Wyeth and Catalyst Biosciences announced a worldwide collaboration for the discovery, development and commercialization of Factor Vlla products to treat hemophilia and other bleeding conditions. The deal included an upfront payment of $21 million, and total payments "could exceed $500 million," according to the statement. Wyeth will be responsible for the manufacturing and commercialization of products resulting from the collaboration, including CB 813, an investigational candidate for the treatment of acute bleeding in patients with hemophilia.

Watson received FDA approval for a generic version of Plan B, Duramed Pharmaceuticals' emergency contraceptive. Watson's generic is approved for prescription only, in women 17 and younger. Duramed retains OTC exclusivity on the product -- indicated for women 18 years and older -- until August 24.

Advertising shop imc² launched imc² health & wellness, a full service agency focused on brands in the pharmaceutical, biotech, device, medical education, healthcare and wellness industries. The healthcare practice was formalized in response to industry's challenging marketplace, according to a statement. imc² health & wellness' clients include GSK, Pfizer, Shire, Serono, J&J, Millennium Pharmaceuticals, and others.

WebMD and its parent company, Hlth Corp., have agreed to merge in a $1.29 billion all-stock deal, with HLTH's Martin Wygod serving as chairman of the board at the combined company and WebMD's Wayne Gattinella as president and CEO.

Contract sales firm PDI announced new business wins exceeding $18 million, but would not divulge the new clients' names, based on contractual agreements, according to a spokesperson.

Endo Pharmaceuticals has partnered with Jubilant Organosys, a Bangalore-based pharma manufacturer, for the potential development of oncology preclinical candidates. Terms of the collaboration include Endo ownership and worldwide commercialization rights on any compounds developed.

Microsoft acquired certain assets of Rosetta Biosoftware, a business unit of Rosetta Inpharmatics, the latter a wholly owned subsidiary of Merck.

The National Marrow Donor Program tapped Weber Shandwick for its "Be the Match Marrowthon" awareness campaign for bone marrow donors and advocates. The annual campaign will run June 8 - 22. Weber Shandwick's Minneapolis-St. Paul office will handle the work.

FDA approved labeling changes on Vyvance, Shire's ADHD drug, extending the product's efficacy to 13 hours in children 6 to 12.