• The big news of the day, to us, was the FDA’s warning letter to General Mills, the maker of the popular cereal, Cheerios. The FDA says the cereal makes a drug claim and violates federal law with promises to lower cholesterol and reduce the risk of heart disease and cancer. [Bloomberg]

• Antisoma has raised $65M through the sale of the U.S. rights to Oforta (oral fludarabine) to Sanofi-Aventis. [FierceBiotech]

• The FDA has accepted AMAG Pharmaceuticals’ newly submitted data on Feraheme, ferumoxytol. The FDA will make a ruling by June 29th. [MSN]

• Taligen Therapeutics has raised $26M for its anti-inflammatory drugs. [Xconomy]

• Genta says it’s running out of money and only has enough cash to last a few more weeks! [Reuters UK]

• GlaxoSmithKline is buying a 16% stake in Aspen Pharmacare, a South African pharmaceutical company. The deal is valued at $410M. [BizJournals]

• GTx is not laying off! The company said it plans to hire 65 sales consultants to promote its 80 mg dose of toremifene, a drug slated to treat prostate cancer, should the FDA approve it. [Bizjournals]

• Discovery Labs has another date with the FDA to discuss Surfaxin: June 2, 2009. [ClinicaSpace]

• Finally, the University of Miami has OK’ed a new 211,000 sq. foot life science park that will house established and spin-out companies. Construction will start in July and when complete, will have six buildings with two million square feet of space and create more than 4,000 jobs. [FierceBiotech]

Image from tonylovellmusic

Related Posts