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• The big news today was the announcement of Merck’s (MRK) $4.25 billion bond sale, structured in a four-part offering. The $$ will go towards financing the acquisition of Schering-Plough (SGP). According to Bloomberg, drug companies have sold about $40.5 billion of bonds this year. Wow! [Bloomberg]

• Targeted Genetics (TGEN) swings axe at 20 employees, might enter Graveyard in August. [Xconomy]

• Astellas pays $42M for NeurogesX’ Qutenza. [BizJournals]

• Pfizer insulin assets now belongs to MannKind (MNKD). [BioSpace]

• No swine flu vaccine for Solvay! [Reuters]

• FTC to Merck/Schering-Plough: we need more info! [Pharmalive]

• Positive fibromyalgia data = Jazz Pharmaceuticals (JAZZ) bets all on sodium oxybate. [FierceBiotech]

• Merck KgA and Oncothyreon (ONTY) ready for Stimuvax breast cancer trial. [Forbes]

• Bextra off-label promotion = hefty fine and probation. [NEWSInferno]

• Finally, shares of Medarex (MEDX) were up 17% after it was announced that two patients taking the company’s prostate cancer treatment in a mid-stage trial are now cancer free. [WSJ]

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