* Alza Corp., of Palo Alto, Calif., said the FDA cleared for marketing the company's testosterone transdermal patch, Testoderm, for testosterone deficiency. The product is expected to be available in the U.S. in 1998. The thin, clear patch is placed on the arm, back or upper buttocks for delivery of a 5 mg dose of testosterone through the skin over 24 hours.
* Vascular Therapeutics Inc., of Mountain View, Calif., began a multinational Phase II study of its drug Vasoflux for heart attack patients. The company, with Vascular Therapeutics Canada Inc., discovered the drug, an anticoagulant that dissolves blood clots faster and reduces damage to the heart, as a result of research at the Hamilton Civic Hospitals Research Center, of Ontario, Canada. Vasoflux, with a different method of action than earlier clot dissolvers, will be used in combination with others in the trial to determine proper dosage levels.
* Zonagen Inc., of The Woodlands, Texas, said its board of directors has authorized the company to buy back up to $10 million of the company's stock. Joseph Podolski, president and CEO, said the company has more than enough capital for its needs in the immediate future, thanks to a worldwide marketing agreement with Schering-Plough Corp., of Madison, N.J. Under the terms of the deal, Zonagen could receive up to $57 million, with an up-front payment of $10 million. (See BioWorld Today, Nov. 18. 1997, p. 1.)