Proceeds from Merck's recently concluded debt offering were used to execute the ASR, which is part of the big pharma's previously disclosed $15 billion share repurchase program...Under terms of the ASR, Merck agreed to an initial delivery of about 99.5 million shares based on current market prices...Pfizer Inc., of New York, said it intends to split off its remaining interest in Zoetis Inc., of Madison, N.J., the former animal health unit that recently completed its initial public offering

The batch was only distributed to and sold in Switzerland, and the recall is limited to the specific batch and to Switzerland...The companies will collaborate to advance the potential companion diagnostic, originally developed by Lilly

The Cell Therapy Catapult, which focuses on the development of the UK cell therapy industry, said it will work with London-based GlaxoSmithKline plc to explore potential collaborations in a range of areas relevant to the development of cell therapies, from research projects to technical and regulatory strategy

Fenofibrate Tablets are indicated as adjunctive therapy to diet to reduce elevated low-density lipoprotein cholesterol, total cholesterol, triglycerides and apolipoprotein B, and to increase high-density lipoprotein cholesterol in adult patients with primary hypercholesterolemia or mixed dyslipidemia

The Paris-based big pharma, which gained rights to JAK drug SAR302503 in its 2010 buyout of TargeGen Inc., reported solid top-line data from the Phase III study dubbed JAKARTA, showing that both dose groups of the drug hit the primary endpoint of reducing spleen volume...Longer-term follow-up beyond the 24 weeks may be needed to tease out any differences," he wrote in a research note, adding that "clear demonstration of a survival benefit" could increase its threat to Jakafi

Mission Bay Capital committed to fund up to $500,000 per company...The company plans to use proceeds to repurchase common stock and for general corporate purposes, including the repayment of outstanding commercial paper borrowings and upcoming debt maturities

plc, of Dublin, Ireland, published a response to an offer made by Echo Pharma Acquisition Ltd. (Royalty Pharma) on May 2...Helsinn Healthcare SA, of Lugano, Switzerland, and Vifor Pharma, of Villars-sur-Glane, Switzerland, signed an exclusive license and distribution agreement for netupitant-palonosetron fixed-dose combination, an investigational Helsinn product for chemotherapy-induced nausea and vomiting, giving rights to Vifor to distribute the product in Switzerland, France, Spain, Portugal

Quintiles will also contribute to Merck Serono's future trial design process

Common stock in Fibrocell Science Inc., of Exton, Pa., has been approved for listing on the NYSE Market, to commence trading on May 17, under the ticker symbol FCSC...The product is marketed by Genentech Inc., a member of the Basel, Switzerland-based Roche Group, and Astellas Pharma Inc., of Tokyo...Genfit SA, of Lille, France, said GFT505 reduced a new component of cardiovascular risk, remnant cholesterol, contained in lipid particles other than LDL and HDL

In other news, closed its initial public offering (IPO) of 3.5 million American depository shares (ADSs) at $8.90 per share...Operating expenses for the quarter increased to $128.1 million compared to $66.8 million for the first quarter of 2012, with Jazz citing high cost of product sales due to a change in product mix and lower gross margin due to inclusion of products from the EUSA Pharma acquisition...PM01183 is designed to bind covalently to the minor groove of DNA to induce a specific degradation

Janssen Research & Development LLC, of Raritan, N.J., a unit of Johnson & Johnson, said the FDA granted priority review to its new drug application for simeprevir (TMC435), an NS3/4A protease inhibitor for once-daily administration with pegylated interferon and ribavirin for the treatment of genotype 1 chronic hepatitis C in adults with compensated liver disease...Valeant Pharmaceuticals International Inc., of Laval, Quebec, has provided additional information related to the proposal to continue

The big pharma said no agreement has been reached and it does not intend to issue further comments...We note that an acquisition of Warner could potentially offer a tax strategy as Warner has a lower tax rate

Acceleron Pharma Inc., of Cambridge, Mass., said preclinical research conducted by Acceleron scientists on the ACE-536 program were presented at the 12th International Symposium on Myelodysplastic Syndromes in Berlin...Zhejiang Beta Pharma will own 51 percent of it and Amgen will own the remaining 49 percent...The split is intended to increase the per-share trading price of the common stock to satisfy the $1 minimum bid price requirement for continued listing on the Nasdaq Capital Market

Under the terms, Adaptive will use its immune profiling assay, immunoSEQ, to identify potential biomarkers that may inform about drug response

turned its attention to other candidates in its pipeline...continue to view shares as undervalued based on the >$1B potential of ISIS-SMN-Rx, as well as the promise of ISIS-TTR-Rx and Isis' 20+ other pipeline candidates," he wrote...In other earnings news

Merck expects the review for this BLA, as well as a BLA for its Timothy grass pollen (Phleum pretense) sublingual allergy immunotherapy tablet, to be completed in the first half of 2014

Eisai Inc., of Woodcliff Lake, N.J., said the European Commission granted orphan drug designation to multityrosine kinase inhibitor lenvatinib for the treatment of follicular and papillary thyroid cancer...In separate news, Eisai said it filed a Type II variation application with the European Medicines Agency for Halaven (eribuln), requesting an indication extension to include treatment of earlier-line metastatic breast cancer patients

In other news, Addex said dipraglurant demonstrated dose-dependent mGlu5 receptor occupancy in a nonhuman primate positron emission tomography study, showing the correlation between the plasma concentration of dipraglurant and occupancy of dipraglurant on mGlu5 receptors in the brain...Moberg Derma AB, of Stockholm, Sweden, said the Swedish Companies Registration Office granted the firm's application for a name change to Moberg Pharma AB

Bristol-Myers Squibb Co., of New York, said the FDA approved a supplemental new drug application for the HIV-1 therapy Sustiva (efavirenz), including dosing recommendations for HIV-1 infected pediatric patients three months to three years old and weighing at least 3.5 kg...Inc., of Whitehouse Station, N.J., said the FDA has approved Liptruzet (ezetimibe and atorvastatin) tablets to treat elevated low-density lipoprotein cholesterol in patients with primary or mixed hyperlipidemia as adjunctive