NY -Based Bristol-Myers Squibb Co. immerse into conversations to acquire a minority percentage of Irish Elan Corp. with rumors in the market that a final agreement by the end of the week. Doubts of analysts.

Even though many competitors already participate into the biosimilars segment (generic-like versions of biologics drugs) the gigantic American drug maker Johnson & Johnson denied plans to participate as well (just for now).

New York-based Bristol-Myers Squibb announced that will reduce an additional 10 percent of its global workforce by 2010, 800 of those effective by year-end.

French drug maker Sanofi-Aventis SA said that experimental heart drug Multaq (dronedarone), indicated to treat atrial fibrillation will be reviewed tentatively by a panel of Food and Drug Administration experts in March 2009. The delay suggests the U.S. regulator may be cautious about the French drugmaker’ s key pipeline product.

Even though current market conditions are not stable, Roche Holding’s offer to buy out the 44 percent of the remaining stock of Genentech is still on, said William Burns, head of Roche´s drugs unit.

Europe´s largest drugmaker, GlaxoSmithKline, is ending 1,000 sales positions by year-end, and is shifting its U.S. headquarters to North Carolina from Philadelphia. Glaxo joins other drugmakers in downsizing mode. Further details.

AstraZeneca Plc´s head of drug development John Patterson is to retire from the board of the Anglo-Swedish company next March, and will be replaced by Anders Ekblom. Further details.

Merck & Co announced it will cut 12 percent of its workforce, on top of earlier job cuts, its long-range earnings outlook changed due to disappointing sales for its medicines plus the difficult economic climate. Further details.

U.S. health regulators will take an additional three months to review Pfizer Inc´s osteoporosis candidate Fablyn before issuing a final decision, the company reported. The extension will allow the agency to review data from a five year study with the drug, not included in the original analysis.

Pfizer Inc announced it plans to pay $ 894 million dollars to settle lawsuits alleging that its withdrawn Bextra painkiller and arthritis drug Celebrex (both COX-2 inhibitors) harmed U.S. patients and defrauded consumers.

Quoting unnamed sources, newsletter The Pink Sheet said members of the Food and Drug Administration´s Cardiovascular and Renal Drugs Advisory Committee have been contacted about their availability for a February panel meeting specifically on Eli Lilly´s application for anti-coagulant Effient (prasugrel), the review on which has been postponed.

A government report from the U.S. Centers for Disease Control & Prevention (CDC) released data on Merck & Co´s cervical cancer vaccine Gardasil campaign, showing it was given to about 25 percent of teenage girls last year after a $ 100 million dollar marketing campaign by the drugmaker.

According to Pfizer, the company plans to reorganize its business units to better coordinate drug development and commercialization.The New York drug giant said the reorganization would create three new units: primary care, specialty care and emerging markets. The reorganization doesn´t include any layoffs or changes to senior management. Further details.

Sanofi-Aventis SA is planning to cut 927 jobs in France, of which 817 are in sales and the remainder among its headquarters staff, due to challenges from cheaper generics and pressure on drug prices.

Daiichi Sankyo Co. and Eli Lilly confirmed today that the U.S. Food and Drug Administration did not complete its review for the prasugrel new drug application. The proposed indication for prasugrel is for the treatment of patients with acute coronary syndromes being managed with an artery-opening procedure known as percutaneous coronary intervention.

Eli Lilly & Co will begin publicizing information about payments to U.S. doctors for speeches, gifts and other services, to begin in 2009, in response to a proposal in Congress to force these disclosures. Further details.

GlaxoSmithKline Plc reported that U.S. health regulators are still evaluating its experimental clotting disorder drug Promacta for a rare clotting disorder known as idiopathic thrombocytopenia purpura (ITP). Further Details.

The pharmaceutical industry analysts this week are speculating on whether the Food and Drug Administration (FDA) will be approving or not Eli Lilly & Co and Daiichi Sankyo Co Ltd´s blood thinner Effient (prasugrel) this week, a possible rival to the world´s fifth top seller Plavix (Bristol-Myers Squibb/Sanofi-Aventis).