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GlaxoSmithKline and Tolerx, have announced a global collaboration deal worth up to $760 million to develop and commercialize otelixizumab (TRX4), a novel humanised anti-CD3 monoclonal antibody that has potential across a broad range of autoimmune and immune-mediated inflammatory diseases, including type 1 diabetes.

Pfizer and Taisho Pharmaceutical have signed a letter of intent for development and commercialization rights of Taisho's pre-clinical stage schizophrenia drug candidate TS-032 outside Japan.

Merck said it has been advised that the NDA for OTC Mevacor (lovastatin) will be reviewed by the FDA's Joint Meeting of the Nonprescription Drugs Advisory Committee and the Endocrinologic and Metabolic Drugs Advisory Committee on Dec. 13. Merck is seeking approval of lovastatin 20 mg taken once daily to help lower cholesterol.

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