Hawthorn Pharmaceuticals announced the FDA approval of the company's Granisol (granisetron HCl) oral solution. Granisol is an oral solution for the prevention of nausea and vomiting associated with cancer therapy.

Biotech firm Alkermes said today it expects Eli Lilly to soon back out of its inhaled insulin development deal between the companies.

Pfizer delivered a low-key analyst day, offering no surprises as it advances toward a "cliff" of patent expirations on major products.

The FDA has delayed approval of GlaxoSmithKline and SkyePharma's reformulated Requip XL (ropinirole) as a treatment for Parkinson's disease.

The FDA approved 19 novel drugs last year, the lowest number since 1983, according to published reports.

Takeda Pharmaceutical has submitted a new DPP-IV diabetes drug candidate -- Alogliptin -- in hopes the drug will replace its major earner Actos which loses patent protection in 2011.

Sepracor has entered a licensing deal with Bial for the development and commercialization of Bial's anti-epileptic compound BIA 2-093 in the US and Canada.

Merck and Addex Pharmaceuticals entered a deal to develop a drug candidate for schizophrenia, under which Merck will pay Addex up to $702 million in cash plus royalties.

Competitors have stepped up efforts to market generic versions of some of Wyeth's biggest drugs, threatening to sap hundreds of millions of dollars in sales.

GlaxoSmithKline said approval of Cervarix will be delayed in the US after FDA regulators requested more information on the vaccine in a "complete response letter" to the drugmaker.