Abbott (NYSE: ABT) announced the initiation of ESPRIT I, a first-of-its-kind clinical trial in Europe evaluating the safety and performance of the novel Esprit(TM) drug eluting bioresorbable vascular scaffold (BVS) for the treatment of blockages in the superficial femoral arteries (SFA) and iliac arteries that have resulted in claudication (leg pain upon walking).

GSK has reached agreement to divest the previously identified non-core OTC brands in the United States and Canada to Prestige Brands Holdings, Inc. for £426 million ($660 million) in cash.

AstraZeneca announced that its investigational compound olaparib will not progress into Phase III development for the maintenance treatment of serous ovarian cancer. In addition, AstraZeneca announced that the second RENAISSANCE Phase III study of TC-5214 for patients with major depressive disorder did not meet its primary end point.

The Bayer Group plans to continue investing heavily in research and development and expects its Pharmaceuticals business in particular to generate substantial sales with the new products that are scheduled to be launched in the next 18 months.

Amgen (NASDAQ:AMGN) and Watson Pharmaceuticals, Inc. (NYSE:WPI) announced that they will collaborate to develop and commercialize, on a worldwide basis, several oncology antibody biosimilar medicines.

Pfizer Inc. (NYSE:PFE) has entered into a second supply agreement which will broaden and extend the duration of the Company's commitment to help protect millions of infants and young children in the developing world from pneumococcal disease - the leading cause of vaccine-preventable death in young children.

Bristol-Myers Squibb Company (NYSE: BMY) and Simcere Pharmaceutical Group (NYSE: SCR), a leading pharmaceutical company in China, have expanded the strategic partnership formed last year to include a second collaboration in a different therapeutic area.