Alexza Pharmaceuticals Inc. said that a second Phase III study of its inhaled antipsychotic for agitated bipolar patients hit the mark, but the product still has to clear some safety studies. (BioWorld Today)

In today's shaky economy, consumers aren't the only ones cutting expenses. Biotech executives also are looking to hold down costs and have come up with some creative - if not drastic - ways to penny pinch.

BioSante Pharmaceuticals Inc. has entered an agreement with Azur Pharma Ltd. to market Elestrin (estradiol gel) in the U.S. to treat moderate-to-severe hot flashes in menopausal women, a deal that could bring in up to $144.5 million for BioSante plus double-digit royalties. (BioWorld Today)

The FDA again delayed its review of cephalosporin antibiotic ceftobiprole due to unresolved "data integrity issues," an unexpected setback for Swiss biotech Basilea Pharmaceutica Ltd. and co-development partner Johnson & Johnson Pharmaceutical Research & Development LLC. (BioWorld Today)