Once high on Pharmos Corp.'s cannabinoid-receptor drug for brain injury, investors came down hard following news that the compound failed in a pivotal Phase III trial.(BioWorld International)

"Happy new year" might not be the way, exactly, to describe the sort of 2005 that oncologists - not to mention their patients - might expect as a result of changes wrought by the Medicare Modernization Act. (BioWorld Financial Watch)