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.

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.

David Epstein, president of Novartis Oncology, said he hopes the drug maker will be able to start selling four new cancer treatments by the year 2011.

Novartis said it will expand its collaboration with German biotech firm MorphoSys as the two companies enter a 10-year deal valued at $600 million focused on discovery and development of antibody-based biological drugs.

MM&M's New Drug Dossier is designed to give pharmaceutical marketers authoritative promotional and clinical insights on the latest new molecular entities in one online resource.

Biotech company Celgene announced it has agreed to acquire blood cancer treatment maker Pharmion for $2.9 billion in cash and stock.

Pfizer today said it will acquire Wellesley, MA-based Coley Pharmaceutical for $164 million to add depth to its vaccine research and boost development of drug candidates to fight cancers, allergy and asthma disorders and autoimmune diseases.

Newly discovered liver safety problems with high doses of Novartis' diabetes treatment Galvus are expected to delay the European launch of the drug and have raised questions about whether the FDA will back its approval here in the US.

A Pfizer analysis released this week brought new hope to a class of drugs designed to clear arteries by boosting the protective form of cholesterol. The findings could help firms like Roche and Merck determine whether to continue developing similar agents.

Clinical trials of a much-anticipated compound from Eli Lilly brought mixed results, causing analysts to further cool on the drug.