We’re taking off for a few days to spend time with mama and baby Iguana. This blogging stuff has pooped us out! In the meantime, let’s take a look at what’s breaking while the bears make their way into the markets and Citi surrenders to Uncle Sam…

-Astellas is getting nasty. They want CV and they’re taking their hostile bid to shareholders. Rumor has it that Astellas is looking to oust CVTX CEO Louis Lange, saying “Their refusal to negotiate with us regarding our proposal has left us with no alternative but to take our offer directly to CV Therapeutics’ stockholders.” The gloves are off!! [Bloomberg]

-Amicus has halted their Phase 2 trial of AT2220 (1-deoxynojirimycin HCI) for Pompe Disease after the FDA put the trial on hold. Two patients enrolled in the trial experienced self-reported adverse events and subsequently withdrew from the trial. The events were categorized by the site PI as “serious” and “probably related to treatment with AT2220.” Amicus was down 16% from $9.51 to $8.00 at the time of this posting. [Yahoo!Finance]

-The FDA has warned GSK about its Avodart (dutasteride) ad, saying that the ad exaggerates the claims. Pharmamarketing did a good take on the relative shrinkage earlier in the week. [Pharmalive]

-Somaxon has struck out again as the FDA has rejected their NDA for doxepin (Silenor), claiming that the drug may increase the QT interval. This company was already in the graveyard, but now the coffin is in the ground. Somaxon’s stock was plummeting 82% from yesterday’s close of $2.14 down to $0.37. [Xconomy]

-Cell Therapeutics (CTIC) is axing 62 employees at its Italian preclinical research center. CTIC will save $14M in annual operating costs as it tries to get OPAXIO and Pixantrone to market. CTIC has been hovering in the $0.05-$0.07 range this week after announcing it sold its remaining stake in Zevalin to Spectrum Pharmaceuticals. [Yahoo!Finance]

Have a good weekend everyone!!!

Image from gardelonline

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