Business - Pharmaceutical

NEW YORK - Immunogen Inc. said Wednesday its developing cancer treatment T-DM1 prompted a 32.7 percent response rate in a midstage study on breast cancer patients, pushing shares higher. Full Story »

WASHINGTON - A long-running effort to allow the import of lower-cost prescription drugs faces a new twist — President Barack Obama's administration is raising safety concerns that could effectively scuttle it, even though Obama backed the plan as a senator. Full Story »

NASHVILLE, Tenn. - Cumberland Pharmaceuticals Inc. said Wednesday it signed a licensing deal with DB Pharm Korea Co. to sell the injectable ibuprofen Caldolor in South Korea. Full Story »

AMITYVILLE, N.Y. - Hi-Tech Pharmacal Co. said Wednesday its fiscal second-quarter profit surged due to strong sales of generic drugs. Full Story »

NEW YORK - A Collins Stewart analyst said Wednesday she expects strong gains for shares of BioMarin Pharmaceutical Inc. after the company reports clinical data for a drug intended to treat a rare enzyme disease, and upgraded the stock to "Buy." Full Story »

BIRMINGHAM, Ala. - Flu drug maker BioCryst Pharmaceuticals Inc. said Wednesday it elected Charles Sanders to its board of directors. Full Story »

BISMARCK, N.D. - Young people are abusing prescription drugs with alarming frequency, sometimes during "pharm parties" where pills are set out like candy, a man whose son died of an overdose of painkillers told a conference Tuesday. Full Story »

DETROIT - Meijer Inc. will pay $3 million after the Midwest retail chain discovered it had employed four pharmacists who were barred from federal health programs, the government said Tuesday. Full Story »

MENLO PARK, Calif. - Biotechnology company Geron Corp. said Tuesday its developing cancer treatment GRNVAC1 met safety and tolerability goals in a midstage study. Full Story »

INDIANAPOLIS - Eli Lilly & Co. said Tuesday it will begin shipping smaller vials of its Humalog and Humulin insulins to hospitals, which often don't need the larger amounts for patients who stay only a few days. Full Story »

WASHINGTON - The pharmaceutical industry may have to cough up more than the $80 billion it agreed to contribute to President Barack Obama's health overhaul effort, reflecting pressure from Democrats and their supporters for more money to cover older and low-income people. Full Story »

NEW YORK - Shares of Allos Therapeutics Inc. tumbled Monday following news of a deal that could boost sales of a rival cancer drug that competes with Allos' Folotyn. Full Story »

NEW YORK - Biotechnology company Celgene Corp. said Monday it will buy privately held Gloucester Pharmaceuticals Inc. for $640 million, getting access to key cancer drugs. Full Story »

MIAMI - Lawmakers have wooed seniors skeptical of the health care overhaul by emphasizing the plan would close the "doughnut hole" — a gap in Medicare drug coverage that can cost thousands of dollars a year. Full Story »

NEWARK, N.J. - Newark officials are launching a program to offer residents generic versions of more than 300 medications for just $2 a prescription. Full Story »

MORRISTOWN, N.J. - Watson Pharmaceuticals Inc. said Friday it is challenging Takeda Pharmaceutical Co.'s patent on the insomnia treatment Rozerem. Full Story »

NEW YORK - Cubist Pharmaceuticals Inc. said Thursday it stopped enrolling patients in trials of a drug intended to reduce bleeding during heart surgery because of deaths among patients that took it. Full Story »

PALO ALTO, Calif. - Jazz Pharmaceuticals Inc., a drug developer, said Thursday it has named Kathryn E. Falberg as chief financial officer. Full Story »