McNeil Consumer Healthcare, a subsidiary of Johnson & Johnson, announced the launch of two new Zyrtec formulations: Zyrtec Perfect Measure (pre-filled spoons of children's Zyrtec) and Zyrtec Itchy Eye Drops. Zyrtec transitioned from prescription medication to OTC in January 2008. Prescription Zyrtec was originally licensed from UCB by Pfizer.
MediciNova, a California-based biopharma, announced that it will acquire Avigen, a biopharma focused on gene-based therapeutic products for neurological and other disorders, in a deal valued at $37 million, according to several reports. Both companies are working on the development of ibudilast, an anti-inflammatory product with several potential uses in the neurological area.