Health & Drugs
Morgan Stanley cut 1,500 jobs this week -- source
NEW YORK, May 16 (Reuters) - Morgan Stanley cut 1,500 jobs this week across its investment banking, trading and asset management businesses, a person familiar with the situation said Friday, a 5 percent reduction of non-broker employees. Full Article
Experimental Novartis drug slows kidney cancer
WASHINGTON (Reuters) - An experimental drug from Swiss drugmaker Novartis slowed the progression of kidney cancer in patients whose tumors returned after initial chemotherapy, researchers reported on Friday. Full Article
UPDATE 2-US FDA warns of fetal risk of two transplant drugs
WASHINGTON, May 16 (Reuters) - U.S. health officials issued an alert on Friday about the risk of first-trimester miscarriages and birth defects from Novartis AG and Roche Holding AG transplant drugs. Full Article
IPO VIEW-Stem cell IPO faces long odds
NEW YORK, May 16 (Reuters) - The odds would seem to be against an initial public offering for a biotech company with no profits and no products on the market, but stem cell company Aldagen evidently feels lucky. Full Article
Biovail urges shareholder support for board slate
OTTAWA, May 16 (Reuters) - Biovail Corp is urging shareholders to support its proposed board of directors and a "new direction" for the company, while rejecting any dissidents that founder Eugene Melnyk may nominate. Full Article
UPDATE 1-Biovail unit to plead guilty in U.S. Cardizem case
(Adds details, stock price, in U.S. dollars unless noted ) Full Article
US investment banks need insolvency mechanism-FDIC
WASHINGTON, May 16 (Reuters) - If another troubled U.S. investment bank spirals toward insolvency, the federal government should have in place a mechanism to shut it down, the head of the Federal Deposit Insurance Corp said on Friday. Full Article
Biovail settles U.S. Cardizem deal charges
TORONTO, May 16 (Reuters) - Canadian drug maker Biovail Corp said on Friday that a subsidiary has reached a settlement with the U.S. Department of Justice related to the launch of its Cardizem LA treatment. Full Article
UPDATE 3-Canada pulls plug on costly medical reactor plan
OTTAWA, May 16 (Reuters) - Canada said on Friday it was scrapping a nuclear reactor project designed to produce medical radioisotopes, a move that means half the world's supply will be made by a 50-year-old reactor that was temporarily shut down for safety reasons last year. Full Article
UPDATE 1-Icahn bought 6.3 mln Amylin shares in Q1 - filing
WASHINGTON, May 16 (Reuters) - Investor Carl Icahn bought 6.3 million shares of Amylin Pharmaceuticals Inc in the first quarter of 2008 and also boosted his stake in Biogen Idec Inc during that time period, according to documents Icahn filed with the U.S. Securities and Exchange Commission. Full Article
| Symbol | Bid | Ask |
|---|---|---|
| BRENT CRUDE | $0.00 | $0.00 |
| GOLD | $0.00 | $0.00 |
| SILVER | $0.00 | $0.00 |
