• Bristol-Myers Squibb Co., of New York, joined the Multiple Myeloma Research Foundation pre-competitive consortium to discover and accelerate new approaches to treating multiple myeloma through the organization's Personalized Medicine Initiative. The cornerstone of the initiative is the MMRF CoMMpass study, which is designed to follow 1,000 newly diagnosed multiple myeloma patients over five years to understand the molecular changes underpinning the progress of the disease.

• Dr. Reddy's Laboratories Ltd., of Hyderabad, India, said it launched its public offer to acquire all the issued and outstanding shares of OctoPlus N.V. (Euronext Amsterdam: OCTO), at an offer price of €0.52 (US$0.68) per share. The offer period will run through Feb. 8, 2013, unless otherwise extended. Shareholders holding in aggregate 63.5 percent of the issued and outstanding ordinary shares of OctoPlus have already entered into irrevocable undertakings to tender their shares under the offer.

• Vanda Pharmaceuticals Inc., of Rockville, Md., said the European Committee for Medicinal Products for Human Use (CHMP) issued a negative opinion recommending against approval of Fanaptum (oral iloperidone tablets) for the treatment of schizophrenia in adult patients. The CHMP determined that the benefits of the drug did not outweigh the risks. Vanda said it intends to appeal the opinion and request a re-examination of the CHMP decision. The drug gained approval in 2009 in the U.S., where it is marketed as Fanapt. (See BioWorld Today, May 8, 2009.)