• Cytogen Corp., of Princeton, N.J., said it settled its lawsuit against Advanced Magnetics Inc., of Cambridge, Mass., as well as Advanced Magnetics' counterclaims. Advanced Magnetics will pay $4 million to Cytogen and release 50,000 shares of Cytogen stock being held in escrow. Both companies agreed to early termination of the 10-year license, marketing and supply agreement established in August 2000, as amended, for two cancer-related imaging agents being developed by Advanced Magnetics, Combidex (ferumoxtran-10) and ferumoxytol. The agreement would have expired in August 2010. All rights revert to Advanced Magnetics.

• GlaxoSmithKline plc, of London, completed a tender offer by its wholly owned subsidiary Pilgrim Acquisition Corp. for shares of common stock of Praecis Pharmaceuticals Inc., of Waltham, Mass. Praecis stockholders have tendered more than 9.2 million shares, or about 85.95% of the outstanding common stock of PRAECIS. GSK also said that PAC intends to exercise an option to buy directly from Praecis additional shares, at $5 each, to give PAC ownership of at least 90 percent of PRAECIS' outstanding common stock. After that PAC will complete the merger as quickly as possible. Praecis will operate as a wholly owned subsidiary of GSK.

• Merck & Co., of Trenton, N.J., said it will take the HIV drug Atripla into the global market. The company said it will file registrations to market the once-daily, three-in-one treatment in 45 nations throughout the Middle East, Africa and nine additional countries in Latin America, the Caribbean and Asia Pacific. For countries ranking low on the United Nation's Human Development Index, the drug will cost $1.68 per tablet. For nations in the medium range of the index, it will cost $2.83. Atripla is made by Gilead Sciences Inc., of Forest City, Calif., and Bristol-Myers Squibb, of New York, by combining drugs from each company. Last year the companies signed a deal allowing Merck to market the drug in developing countries.

• Onyx Pharmaceuticals Inc., of Emeryville, Calif., as part of its fourth-quarter earnings release, said net revenue on the kidney cancer drug Nexavar (sorafenib) tablets was $63.7 million for the fourth quarter and $165 million for all of 2006. The product is being marketed and further developed with collaborator Bayer Pharmaceuticals Corp., of West Haven, Conn. Bayer's $63.7 million fourth-quarter revenue figure was an increase of 40 percent to the prior quarter. Onyx's stock (NASDAQ: ONXX) gained $3.05 Friday, or 12.4 percent, to close at $27.75.

• OrthoLogic Corp., of Tempe, Ariz., said findings of a post hoc subgroup analysis of data from its Phase III trial of Chrysalin, a synthetic peptide, in unstable, displaced wrist fractures showed that a subset of female osteopenic subjects treated with 10 mcg demonstrated a statistically significant benefit compared to placebo in the primary endpoint of time to removal of immobilization. Secondary endpoints, including clinical assessment of fracture healing, time to radial cortical bridging and time to overall radiographic healing, also showed a significant effect with Chrysalin treatment. OrthoLogic reported in March that overall results from the Phase III trial missed the primary endpoint. The company said that the subset data are supportive, rather than pivotal. (See BioWorld Today, March 16, 2006.)

• Tibotec Pharmaceuticals Ltd., of Cork, Ireland, a unit of Johnson & Johnson, said the European Commission granted conditional marketing authorization to Prezista (TMC114), a protease inhibitor for the treatment of patients infected with HIV-1. Additional data will need to be submitted before full authorization is granted. Product availability will vary from country to country. The drug was conditionally approved for use in combination with ritonavir and other antiretroviral agents.