Merck & Co. Inc. (NYSE:MRK) will return the world marketing and development rights for both the intravenous and the oral formulations for vernakalant to Cardiome Pharma Corporation (NASDAQ:CRME). Vernakalant IV is marketed in certain countries under the brand name Brinavess; the drug was approved in the European Union on September 1, 2010 for the rapid conversion of recent onset atrial fibrillation to sinus rhythm in adults, for non-surgery patients with AF of fewer than seven days and for post-cardiac surgery patients with AF of fewer than three days. At the current time, Vernakalant IV is not approved for use either in the United States or in Canada.
Microsoft Corporation (NASDAQ:MSFT) will be charged in the European Union for failing to comply with a 2009 ruling which required that it offer a choice of web browsers, said the European Commission’s antitrust chief on Thursday. An unfavorable ruling might lead to a huge fine for the firm.
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Pfizer Inc. (NYSE:PFE) reports that its commercialization partner Protalix BioTherapeutics, Inc. (AMEX:PLX) has been awarded marketing authorization from the Israeli Ministry of Health for Elelyso for injection. The drug is an enzyme replacement therapy for the long-term treatment of adults suffering from Type 1 Gaucher disease. The medication will be marketed in Israel by Protalix Ltd., which holds of all marketing rights to Elelyso in the Israeli market. This represents the second marketing approval of Elelyso, which was okayed by the FDA on May 1, 2012. Pfizer markets the drug in the United States.
Procter & Gamble Co. (NYSE:PG) Chief Executive Robert McDonald’s job might be in jeopardy should the cost reductions and product-refocus plans he announced not bring results, say inside sources to the Wall Street Journal. Earlier in September, McDonald met with the hedge fund manager William Ackman, who threw 75 pages of complaints about his three years running the company at him. Ackman’s Pershing Square Capital Management LP bought $1.8 billion worth of P&G stock in June and July and his message to the company is that McDonald should be removed from his board-chairman position and that P&G should search for a new chief executive.
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