French drugmaker Sanofi-Aventis on Tuesday announced to have completed its tender offer for shares of Chattem Inc., which makes Gold Bond skin products, Icy Hot pain relief packs, and Selsun Blue dandruff shampoo.

A federal prosecutor revealed on Wednesday that a fired Bristol-Myers-Squibb Co. employee, Shalin Jhaveri, 29, stole trade secrets from the drug maker in a deceit to establish his own pharmaceutical business in his native India.

Pfizer, the world’s biggest drug maker, posted its fourth-quarter profit to have missed analysts’ estimates on costs from its acquisition of Wyeth and projected lower-than-expected earnings in 2010.

The U. S. Food and Drug Administration, has approved the circulation of Auxilium Pharmaceuticals Inc.'s Xiaflex injection to treat a hand disease called Dupuytren's Contracture. It is a disorder caused by the buildup of an abnormal amount of collagen in hands.

Despite soaring profits British pharmaceuticals giant GlaxoSmithKline is soon going to announce a cut up to 4,000 more jobs. The worst hit will be United States and Europe.

Bristol-Myers Squibb claims to witness stronger-than-expected fourth quarter earnings, backed by sharply lower taxes and cost cuts, and augurs its 2010 earnings in line with Wall Street expectations, and Eli Lilly, on the other hand, has also seen a profit over the period.

The Basel, Switzerland-based drug maker Novartis AG Tuesday posted a 54 percent increase in its fourth-quarter net profit to $2.32 billion, largely due to robust sales and favorable exchange rates; and has appointed its pharmaceuticals division chief Joe Jimenez as its new CEO.

On Monday, Amgen Inc., the world' largest and top-ranked biotechnology firm, posted a slightly disappointing earnings report for the year's fourth-quarter, while also asserting that revenue and net profits for the year 2010 are all set to significantly grow.

Official reports have confirmed that Novo Nordisk's Victoza, a drug developed for the treatment of type 2 diabetes, has been awarded approval by the US Food and Drug Administration. The company has said that it will now be launching the medicines across America within a few weeks.

Pfizer revealed that it has recently filed applications with the regulators in the U. S., Europe and Canada in a view to get its Sutent approved for treating a rare type of pancreatic cancers.