T2007 is the sodium salt of diphenylbarbituric acid (DPB). Plans for T2007 are currently directed at its use as an antiepileptic agent. In previous Phase II studies conducted in Canada, T2000, a prodrug (precursor) of DPB, produced functional improvement in patients with essential tremor. The Company announced last week that the United States Food and Drug Administration have granted an Investigational New Drug (IND) exemption to permit clinical studies on T2000 in the U.S. The Company expects that its experience with T2000 will facilitate its development of T2007.

In animal models, DPB has efficacy comparable to phenobarbital, a long-established clinical treatment for epilepsy. Phenobarbital remains the most commonly prescribed antiepileptic drug throughout the world, although its use has always been limited by its sedating side effects and it has been largely replaced by newer agents in Europe and North America.

@@AdsenseLeft@@ Enzo Biochem, Inc., is a growth-oriented integrated life sciences and biotechnology company focused on harnessing biological process to develop research tools, diagnostics and therapeutics, and serves as a provider of test services, including exotic tests, to the medical community. On the other hand, Ikonisys is a privately owned next generation diagnostic company specializing in non-invasive, cell-based diagnostics. As per the marketing deal, Enzo Clinical Labs will do the marketing of assays to physicians requesting advanced analysis of specimens from liquid based Pap tests to assist them in evaluating cytologic reports.

The assay is based on the identification of a genetic marker, which numerous scientific articles have linked with an increased likelihood for the development of cervical cancer. Hence, running the assay will not require obtaining an additional specimen from patients. MD and President of Enzo Clinical Labs, Kevin Krenitsky said that this marketing agreement is an extension of their lab’s program which broadens their menu of tests in the field of women’s health and that oncoFISH will be able to help the physicians to have better information so that they managed their patients in a better way.

Marketed under the leading brand name of QuickVue, Quidel Corporation’s portfolio of products currently includes tests that aid in the diagnosis of several disease or condition states, including influenza, respiratory syncytial virus, Fecal Occult Blood, Strep A, pregnancy, H. pylori and Chlamydia. The timing and pace of stock repurchase activity may depend on several factors such as the amount of cash generation from operations, cash required to execute strategic growth initiatives, current stock price, and other factors. The Quidel Board initially authorized a $25 million stock repurchase program in May 2005. Later the Board decided to authorize additional $25 million extensions of the stock repurchase program in 2007 and 2008. As of December 7, 2009, there remained approximately $26 million available for repurchase of Company common stock under the repurchase program. As of September 30, 2009, the Company had approximately 30,141,000 shares outstanding.

At the moment, Depomed already has 2 product candidates in Phase 3 clinical development and two products already approved on the market while there are still many products in early stages which are in the pipeline. Lupin’s certification notice alleges that Depomed’s US Patents (Nos. 6,340,475; 6,488,962; 6,635,280; and 6,723,340) listed in the FDA Orange Book for GLUMETZA are invalid and/or will not be infringed by Lupin’s commercial manufacture, use or sale of the products described in Lupin’s ANDA.

Depomed now has 45 days from the receipt of the Paragraph IV certification to commence a patent infringement lawsuit against Lupin that would automatically stay, or bar, the FDA from approving Lupin’s ANDA for 30 months or until a district court decision that is adverse to the company, whichever is earlier.

NovaDel Pharma is a leading specialty pharmaceutical company that is into the development of oral spray formulations for a broad range of marketed drugs. The Company offers conventional oral dosage forms that has the potential for faster absorption of drugs into the bloodstream that leads to quick therapeutic effects and reduces first pass liver metabolism that can happen in low doses. Additionally, oral sprays eliminate the use of water or the need to swallow medicines that may prove convenient to the patients. Zolpimist is indicated for the short-term treatment of insomnia characterized by difficulties and problems with sleep initiation.

NovaDel Pharma’s Zolpimist Oral Spray has already been approved by the Food and Drug Administration for the short term treatment of insomnia characterized by difficulties with sleep initiation. This is NovaDel’s second product that has been approved by the FDA that uses NovaDel’s proprietary NovaMist oral spray technology. NovaDel maintains an exclusive worldwide portfolio of intellectual property rights for select compounds using is pioneering oral spray delivery system. Patients who are taking Zolpimist should immediately prepare for bedtime after they take the oral spray and avoid activities like driving or operating dangerous appliances that can cause damage.

@@CalendarRight@@ The Company has decided to use the proceeds from the financing of partnership development and approval in countries with their own approval process as well as for general corporate purposes. At the closing of the tranche, the Company issued and sold 155,000 shares of Series B-2 preferred stock convertible into 620,000 shares of common stock, a Class A-1 and Class A-2 warrant each exercisable to purchase 310,000 shares of common stock and Class B warrant exercisable to purchase 1,240,000 shares of common stock for a gross purchase price of US$310,000 and the net proceeds were US$296,000 approximately. The Company also announced that Series B Preferred Stock, Class A-1 and A-2 warrants and Class B warrants are not registered and therefore cannot be sold or offered.

Currently, DAVANAT is the leading product candidate of Pro-Pharmaceuticals Inc, which is a carbohydrate polymer that targets galectin receptors that are over-expressed on the cancer cell. As per the research galectin affects the development of cell and plays important role in cancer, including tumor cell survival, angiogenesis and tumor metastasis. So far DAVANAT has been administered on 100 patients suffering from cancer and the data from Phase 2 trial showed that it is effective in reducing the side effects of the chemotherapy.

Executives of Depomed announced that they have achieved significant milestones in the third and early fourth quarter and have also completed a transaction with Merck that has provided them a reason to rejoice and have a stronger and profitable balance sheet this quarter. Depomed is a specialty pharmaceutical company which has many product candidates in the pipeline with few of products already in Phase 3 trials. Depomed’s GLUMETZA (metformin hydrochloride extended release tablets) has already been approved for use in adults with Type 2 diabetes and the prescriptions for GLUMETZA have reached all time high and additionally they have received positive results with their Phase 3 postherpetic neuralgia study with DM-1796.

Cash equivalents and marketable securities were US$88.6 million as of September 30, 2009 compared to US$82.1 million as of December 31, 2008. Depomed’s stock-based compensation expense was US$0.8 million for the three months ended September 30, 2009 as compared to US$0.7 million for the three months ended September 30, 2008. The overall net income for the three months ended September 30, 2009 was US$1.4 million, or US$0.03 per share, compared to a net loss of US$0.3 million, or US$0.01 per share, for the three months ended September 30, 2008.

Earlier, Whirlpool Corporation reported earnings of US$87 million down from US$163 million which means that the company had to bear the loss of $1.15 a share. Sales figures of Whirlpool fell down nine percent in the North America and seventeen percent in Europe. However, Whirlpool was able to perform well in Asia and the sales figures saw a rise of eighteen percent in Asian countries. The overall revenue of the company went down around eight percent and came to US$4.5 billion. However, many analysts believed that the company would soon jump up to normal.

Surprisingly, the profit earnings of Whirlpool Corporation clearly surpassed the expectation of analysts and investors as they were expecting of 77 cents per share considering the fact that sales at appliance makers like Electrolux and Whirlpool were suffering due to the global economic slowdown as consumers decided not to purchase any luxury items when they were running short of money. Additionally, these goods are considered as appliances that can help us make our jobs easier but they are not essential goods that people will buy when there was financial crisis. Whirlpool had resorted to aggressive cost-cutting until the demand picked up again.

Honeywell International Inc. is a diversified technology and manufacturing company that serves customers globally with aerospace products and services. The company basically operates in four business segments and that is aerospace, automation and control solutions, specialty materials and transportation systems. The company also deals in sensing and security technologies for buildings, homes and industry, automotive products, turbochargers and process technology for refining and other petrochemicals and energy efficient products.

Honeywell International that is one of the leading makers for aircraft engines and transportation products announced that they now expect their profits to be around US$31 billion considering their annual revenue from July 2009. The cut came as the quarter’s revenue was at the low end of Honeywell’s estimate, though they have decent earnings in 2009. Honeywell earlier also made an announcement that the demand for business jets is already low and is likely to erode further if the market conditions are not favorable. However, Honeywell’s CEO and Chairman David Cote said that Honeywell will continue to build robust pipeline for a global market and that the company will come out stronger compare to other companies that have been hit by the global economic recession previous year.

VaxGen shareholders will get 0.4719 of a share of OxiGENE for every share they own of VaxGen, which will leave them around 20 percent of the equity once the deal is finalized and the companies are merged. OxiGENE CEO Peter Langecker said in an announcement that the merger is a timely and efficient strategy to strengthen OxiGENE’s cash flow and fund operations till 2011 and that these funds would help them in their clinical development programs.