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Week of Mon, Jul 12th, 2010

Panel delivers split decision on Avandia

An advisory committee to the Food and Drug Administration has recommended that GlaxoSmithKline PLC’s (GSK) diabetes drug Avandia should remain on the market, but possibly with tough new restrictions and new warnings.

Carlyle Group to buy NBTY for $3.8 billion

Dietary supplements supplier NBTY Inc. has agreed to be purchased by private equity firm Carlyle Group for $3.8 billion in one of the biggest private equity deals thus far in 2010.

PhRMA picks new president, CEO

Pharmaceutical Research and Manufacturers of America (PhRMA) has named John Castellani its new president and chief executive officer, effective September 1.

Merck to eliminate eight research facilities

Merck & Co. is planning to phase out operations at eight research sites and eight manufacturing sites.